New York Laws
Article 12-E - Licensed Mortgage Loan Originators
599-G - Testing of Mortgage Loan Originators.

(a) Ethics;
(b) Federal law and regulation pertaining to mortgage origination;
(c) State law and regulation pertaining to mortgage origination; and
(d) Federal and state law and regulation, including instruction on
fraud, consumer protection, the nontraditional mortgage marketplace, and
fair lending issues.
3. Testing location. Nothing in this section shall prohibit a test
provider approved by the NMLSR from providing a test at the location of
the employer of the applicant or the location of any subsidiary or
affiliate of such entity, or the location of any entity with which the
applicant holds an exclusive arrangement to conduct the business of a
mortgage loan originator.
4. Minimum competency. The following conditions apply to individuals
taking such competency tests:
(a) An individual shall not be considered to have passed a qualified
written test unless the individual shall have achieved a test score of
not less than seventy-five percent correct answers to questions;
(b) An individual may retake a test three consecutive times, with each
consecutive taking occurring at least thirty days after the preceding
test;
(c) After failing three consecutive tests, an individual shall wait at
least six months before taking the test again; and
(d) A licensed mortgage loan originator who fails to maintain a valid
license for a period of five years or longer, not taking into account
any time during which such individual is a registered mortgage loan
originator, shall retake the test.