Study Tips

Preparing for the upcoming loan originator exam probably seems like a daunting task, even if you are on top of your game. The right kind of exam preparation may help to alleviate the anxiety leading up to the exam because with preparation, you will go into the exam room feeling organized and in control.

To get ready, you need to sit down and assess how much state and federal law you’ve reviewed and how you stand going into the exam. Those answers will determine how much intensity and time you must put into your preparation.

Decide how much time you need to study, and when you intend on studying. Break up the material into obvious units and bite-sized chunks. Decide which sections need more emphasis, and which can be skipped if you are crunched for time. Looking at these pieces, along with similar assessments from our study guide, you can draw up a study schedule to follow.  Avoid studying for similar subjects back-to-back as it will create confusion in your head, and you will get bored or distracted VERY easily.

Read & review

Have you sat down and read the Mortgage Broker Practices Act? Now’s the time to do this, not the night before the exam. The Practices Act comes in two parts. The Revised Code of Washington (RCWs) and the Washington Administrative Code (WACs).  The RCW is the law. The WACs are the rules; DFI's interpretation of the law. BOTH of these are extremely important for you to read all the way through.  Once you’ve finished reading, test yourself to see how much you've retained!

Test yourself in a way related to how the exam is structured by taking our computerized practice exams for Loan Originators or for the Designated Broker exam.

Also, consider joining us for the live class: Loan Originator Exam Study and Review and earn  continuing ed class credits at the same time.

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