MLO Practice Test PDF (Free, 25 Questions)

Updated October 20, 2026

Download a free, printable 25-question SAFE MLO practice test with an answer key, explanations, and official sources. Questions are spread across all five content areas in roughly the official proportions.

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25 questions · answer key · explanations · sources

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Preview: 5 questions from the PDF

1. Under FCRA as amended by FACTA, consumers may obtain a free credit report from each nationwide bureau at least:
  1. Once a month
  2. Once every 12 months
  3. Once every 2 years
  4. Only after adverse action
Show answer and explanation

Answer: B. Once every 12 months
Correct — at least one free report every 12 months from each nationwide bureau.

Source: 15 U.S.C. 1681j(a)(1)(A)

2. RESPA and Regulation X generally apply to which loans?
  1. Only FHA and VA loans
  2. All commercial real estate loans
  3. Only loans above the conforming loan limit
  4. Federally related mortgage loans secured by 1–4 family residential property
Show answer and explanation

Answer: D. Federally related mortgage loans secured by 1–4 family residential property
Correct — §1024.2 and §1024.5(a) define coverage this way.

Source: 12 CFR 1024.5(a)

3. Which transaction is exempt from RESPA/Regulation X?
  1. A purchase loan on a second home
  2. An FHA-insured purchase loan
  3. A loan made primarily for a business, commercial, or agricultural purpose
  4. A refinance of the borrower's principal residence
Show answer and explanation

Answer: C. A loan made primarily for a business, commercial, or agricultural purpose
Correct — §1024.5(b)(2) exempts business-purpose credit.

Source: 12 CFR 1024.5(b)(2)

4. The special information booklet ("Your Home Loan Toolkit") must be given to a consumer applying for:
  1. A refinance
  2. A closed-end subordinate-lien loan
  3. A reverse mortgage
  4. A purchase-money loan secured by a first lien
Show answer and explanation

Answer: D. A purchase-money loan secured by a first lien
Correct — §1024.6(a) requires it for purchase transactions.

Source: 12 CFR 1024.6(a)(3)

5. Under Regulation X, when must the special information booklet be provided?
  1. At closing
  2. Within 30 days of application
  3. No later than 3 business days after the application is received
  4. Only if the consumer asks for it
Show answer and explanation

Answer: C. No later than 3 business days after the application is received
Correct — §1024.6(a)(1).

Source: 12 CFR 1024.6(a)(1)

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Official sources

FAQ

Is there a free MLO practice test PDF?

Yes. Download the 25-question PDF on this page. It includes an answer key and explanations.

Does the PDF include the whole question bank?

No. The free PDF has 25 questions. The full bank is in the practice app.

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