Indiana MLO Exam Info
Specific Indiana 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 Indiana MLO exam keeping up with the changes as they occur in Indiana.
MLO Practice Exams are organized into categories: When studying for your Indiana 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 Indiana MLO Exam.
Indiana MLO Exam Questions Questions Are constantly Updated: We constantly update all of our Indiana 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 Indiana MLO Exam.
Question: Do I need a high school diploma to get a real estate
Answer: No. You need to be 18 years of age, and take a 54 hour real estate pre licensing course, pass the course and examination to be license.
Question: How do I register for the examination?
Answer: You can register for the examination by contacting our exam provider, Promissor. You will need to take your pre-licensing course certificate with you to the exam.
Question: How long after I take the course do I have to pass the exam?
Answer: One year for the date on you certificate of course completion.
Question: After I pass the examination how long do I have to apply for my license?
Answer: One year.
Question: Do I have to be a salesperson prior to being a broker?
Answer: Yes. For one year with an active license
Question: If I am with a referral agency is this considered active?
Answer: You are considered to have an current license, but are unable to practice the sale of real estate during this time. No continuing education is required if you are in the referral status and is required to move your license to Active status.
Question: Can I take the broker course before I have been licensed as a salesperson for one year?
Answer: Yes. But you cannot be licensed until you complete one year as a salesperson.
Question: Is there a fee to transfer your license?
Answer: There is a $10.00 fee to transfer your license. Please make your check payable to the Indiana Professional Licensing Agency.
Question: What states do we reciprocate real estate licenses with?
Question: When I send in to transfer from my employer, when can I go to work?
Answer: After you receive the pocket card with your new employer's name on it.
Question: Do I have to pay a renewal fee if I elect to be inactive?
Answer: You must pay your renewal fee every two years to keep your license active, inactive or referral.
Question: What does inactive mean?
Answer: That you have not taken your continued education but have paid your required renewal fee.
Question: Will you issue my new license if I haven't found a broker to work for yet?
Answer: The license will be issued if submitted within one year after passing the examination and held by the state until you find a broker.
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