Idaho MLO Exam Info

Specific Idaho MLO Exam Content: There is no such thing as a "standard" mortgage loan originator Exam. All states have varied content from each other. This is why we spend so much time preparing the individual content for the Idaho MLO exam keeping up with the changes as they occur in Idaho.

MLO Practice Exams are organized into categories: When studying for your Idaho MLO exam it is important to know your areas of weakness. We have taken the time to divide up the content into categories such as Federal Law, Loan Origination, General Loan knowledge and ethics. Each Category is graded separately to make it easier to identify and focus on your areas of weakness. Also included are master MLO Exams which incorporate all of the different categories into one test to help prepare you for your Idaho MLO Exam.

Idaho MLO Exam Questions Questions Are constantly Updated: We constantly update all of our Idaho practice questions, including our national practice questions, our explanations and answers, and other content. These all unite to give you the most comprehensive and up to date information for your Idaho MLO Exam.

In the State of Idaho, exams, licensing, and continuing education for real estate agents are governed by the Idaho Real Estate Commission.

  1. Age Limit
    You must be at least 18 years of age at the time of application for a license, and a high school graduate or equivalent.
  2. Criminal Offenses & License Revocations
    You must not have been convicted, issued any fine, placed on probation, received a withheld judgment or completed any sentence of confinement for or on account of any felony, or any misdemeanor involving fraud, misrepresentation or dishonest or dishonorable dealing, in a state or federal court, within 5 years immediately prior to the date the application is submitted to the Commission. You must not have had a real estate license or other professional or occupational license revoked, suspended, or surrendered, or the renewal refused, for a disciplinary violation involving fraud, misrepresentation or dishonest or dishonorable dealing, in Idaho or any other jurisdiction, within 5 years immediately prior to the date the application is submitted to the Commission.
  3. Currently or Previously Licensed in Another State?
    Request a certified license history from the states’ real estate licensing department in which you have been or are currently licensed. This certified license history should be sent directly to the Idaho Real Estate Commission.
  4. Residency
    There is no requirement that licensees reside within Idaho. However, under reciprocal agreements, licensees are not allowed to operate from a business located in Idaho.
  5. Education
    Provide proof of your high school graduation, high school equivalency certificate, or GED; plus completion of the following real estate education courses within five years prior to making application for licensure. Course schedules and descriptions for approved Idaho courses are found in The Real Estatement or on our web site. Students should be aware that scheduled courses may be canceled for insufficient enrollment.
  6. Experience (broker only)
    You must provide proof of two years active real estate experience within the last five years. The Commission, at its discretion, may modify or reduce the two-year active experience requirement based upon the educational background and experience as a licensed real estate broker or salesperson in another state, or experience in related or affiliated business activities. In deciding whether to consider your experience as sufficient to qualify as “active experience” we are looking for, among other factors, at least 30 hours per week doing real estate business, during at least 100 weeks of a 24-month period with approximately 15-20 sales and listings resulting in over $2 million in total sales volume. If you are already licensed in another state, you are not required to furnish proof of the experience requirements.
  7. Fingerprinting
    Have your fingerprints taken by an approved agent or at your local law enforcement agency using the Commission’s fingerprint card stamped with the “ORI” identification code. Submit the completed fingerprint card with the $34 processing fee to the Commission with the application. The prints will go through state and national screening. The FBI will then return the fingerprint card and a report (if applicable) to the Commission for review. Fingerprint results are valid for six (6) months. If the fingerprints are returned “unreadable,” new fingerprints will need to be submitted. A new processing fee will not be required.
  8. License Exam
    A Candidate Handbook is available from the Commission office or on the Promissor website, which contains exam procedures, dates, locations, and other pertinent information.
    To register for the exam, candidates may do one of the following at least 4 days prior to their intended exam date.
  9. Type of License & Status
    Below are the ways in which you may be licensed in Idaho and will need to indicate as such on your application.
    • Active Designated Broker: Must have a physical location to use as a principal place of business for the real estate license.
    • Limited Broker: Must license individually. A Limited broker is a licensed Idaho broker, but cannot have employees.
    • Associate Broker: Must license with an active Idaho designated broker.
    • Salesperson: Must license with an active Idaho designated broker.
    • Inactive: Not affiliated with a designated broker, and has a current unsuspended or unrevoked license which is held on inactive status by the Commission.
  10. Errors & Omissions Insurance
    New applicants, renewal applicants, and licensed “entities” (i.e. corporations, LLC, partnerships) for active real estate licensure must each certify that they have obtained errors and omissions insurance to cover all licensed activities. Applicants may purchase E&O insurance in one of the following ways: 1) complete and submit a group policy application along with the correct premium amount to Medmarc Insurance Company; or, 2) Purchase E&O insurance through an independent carrier and keep a completed “Certification of Coverage” signed by his or her insurance agent that errors and omissions insurance coverage has been independently obtained at the office. This certificate states that the independent policy complies with the minimum requirements as stated in the Administrative Rules of the Commission. More information about the group policy or copies of the group policy application form or a sample group policy may be obtained by calling the Group Policy Carrier directly or the Commission office.
  11. Apply for License
    Submit to the Commission office a completed “Real Estate License Application” with all attachments and fees. Applications are effective on the date the forms, fees and attachments are approved by the Commission. Forms that are incomplete, illegible, or not accompanied by the proper attachments, will be returned for completion and could delay the effective date. All checks payable to the Real Estate Commission which are returned by the bank as unpayable for any reason which is not the fault of the bank, shall result in a charge of $15 per check in addition to the amount owed to the Commission. The payment to replace the bad check shall be in cash, money order or such other, which is considered to be cash and acceptable by the Commission. Because of costs associated with the issuing of refunds, it is the policy of the Commission to refund overpayments of under $25 only if requested in writing within 30 days of IREC receipt of the overpayment. Overpayments of $25 or more will be automatically refunded.

Idaho has reciprocal agreements with:

  1. Alberta
  2. Colorado
  3. Georgia
  4. Iowa
  5. Kansas
  6. Montana
  7. Nebraska
  8. North Dakota
  9. Oklahoma
  10. Oregon
  11. South Carolina
  12. South Dakota
  13. Tennessee
  14. Utah
  15. West Virginia
  16. Wyoming

Anyone holding licenses from any of these states may apply for a reciprocal license, and may be able to forego some classroom work and other requirements.

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