Michigan MLO Exam Info
Specific Michigan 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 Michigan MLO exam keeping up with the changes as they occur in Michigan.
MLO Practice Exams are organized into categories: When studying for your Michigan 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 Michigan MLO Exam.
Michigan MLO Exam Questions Questions Are constantly Updated: We constantly update all of our Michigan 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 Michigan MLO Exam.
TO BECOME A MICHIGAN REAL ESTATE BROKER
90 clock hours of approved coursework required within 36 months of application, unless licensed continuously.
Examination administered by Applied Measurement Professionals
at least 3 years full time experience as a real estate salesperson, or equivalent experience(Rule 205).
6 clock hours every renewal cycle
An applicant for a broker license must meet all requirements for licensure before submitting an application to the Department. License application forms are mailed to successful exam candidates with their passing score notification. An application must verify required real estate experience and successful completion of all required education. Some applicants will be required to provide other documentation depending upon their background, e. g. all applicants must possess good moral character; applicants who currently hold, or have ever held a real estate license in another state or jurisdiction must submit a current letter of good standing from each regulatory entity.
An individual may be licensed as either an Individual Broker, which denotes operation as a sole proprietorship, or as an Associate Broker, an individual who qualifies as a broker but is licensed to a Broker or another broker entity type, LLC, partnership, corporation broker. If Individual Brokers are using a business name (e.g., John Doe d.b.a. Doe Realty), an assumed name certificate must be obtained from the county clerk's office and filed with the application. An Associate Broker cannot operate with an assumed name. If the broker's license will be held by an entity, at least one owner or principal must apply for an Associate Broker's license to that broker. The Department has a brochure entitled "Your Real Estate Broker License Application -- An Applicant's Guide" (BCS/LRE-035) â€" to assist applicants through this process.
TO BECOME A MICHIGAN REAL ESTATE SALESPERSON
40 clock hours of approved real estate fundamentals Examination.
administered by Applied Measurement Professionals
6 clock hours every renewal cycle
An applicant for a real estate salesperson license must be 18 years of age and have successfully completed education and examination requirements required by the Occupational Code, PA 299 of 1980, as amended.
A real estate salesperson license can only be issued if a complete application, with fee and broker's signature, is received by the department. Other requirements include: "good moral character", a current letter of good standing from states in which the applicant currently holds, or has ever held, a real estate license.
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