Section 645B.370 - Qualified written test required for initial licensure1. To satisfy the requirement prescribed in NRS 645B.0137, a natural person must pass, in accordance with the standards established under this section, a qualified written test pursuant to and in the manner provided for in section 1505(b)(5) of the S.A.F.E. Mortgage Licensing Act, including, without limitation, with regard to the taking of a test four times.2. Nothing in this section prohibits a person approved by the Registry from providing a test at the location of the employer of the applicant, the location of any subsidiary or affiliate of the employer of the applicant, or the location of any entity with which the applicant holds an exclusive arrangement to conduct the business of a mortgage loan originator.3. Pursuant to section 1505(d)(3)(D) of the S.A.F.E. Mortgage Licensing Act, a licensed mortgage loan originator who fails to maintain a valid license for a period of 5 consecutive years or more must retake the test specified in subsection 1, not taking into account any time during which such person may be a registered loan originator, as defined in section 1503(7) of the S.A.F.E. Mortgage Licensing Act.Nev. Admin. Code § 645B.370
Added to NAC by Comm'r of Mortgage Lending by R093-09, eff. 10-27-2009; A by R035-10, 7-22-2010; A by R125-16A, eff. 1/27/2017; A by R119-19A, eff. 11/9/2023NRS 645B.0137, 645B.0138, 645B.060, 645F.292, 645F.293