Yes, but it’s a passable exam!  There’s a reason, however, why 48% of those who take it are never able to pass.  Actually, there are a few.  The primary reason is because the 20-hour pre-licensing course, the primary means for preparing people for this exam, requires the effective delivery of approximately 150 hours’ worth of material.  As such, no 20-hour course, by itself, can properly prepare anyone for this exam.  Appropriate study and preparation practices, beyond one’s 20-hour course, are mandatory towards ensuring a positive test outcome.  Read on to learn more about the study and test-preparation strategies necessary for passing the NMLS MLO National Licensing Examination.