North Carolina General Statutes Chapter 53. Regulation of Financial Services § 53-244.080. Testing requirements for mortgage loan originators

(a) An individual shall pass a qualified written test, as defined by subsection (b) of this section, developed and administered by a test provider approved by the NMLS.

(b) A written test shall not be treated as a qualified written test unless it adequately measures the applicant's knowledge and comprehension in the following subject areas:

(c) Nothing in this section prohibits a test provider approved by the NMLS from providing a test at the location of the applicant's employer, or a subsidiary or affiliate of the applicant's employer, or the location of any person that is licensed by North Carolina to engage in the mortgage business.

(d) An applicant shall be considered to have passed a qualified written test by achieving a test score of at least seventy-five percent (75%).

(e) An applicant may retake a test three consecutive times with each consecutive test occurring at least 30 days after the preceding test.  After failing three consecutive tests, an applicant shall wait at least six months before retaking the test.  A formerly licensed mortgage loan originator who fails to maintain a valid license for a period of five years or longer shall retake the test.