Yes. If you fail the exam (but hopefully you won’t), you may retake it after paying for it again and waiting 30 days from the date that you originally took it. If a test candidate fails the NMLS exam a second time, he or she may take it a third time after paying for it again and waiting another 30 days. If the test candidate fails it a third time, he or she may take it a fourth time, but this time, in addition to paying for the exam again, he or she must wait six months. And then the process repeats.