WAC 208-660-260. Designated brokers—Testing

(1) Must I pass a test prior to becoming a designated broker? Yes. You must take and pass the Washington designated broker test. See subsection (3) of this section if you are going to originate loans. See WAC 208-660-250 (1) if you have never been a designated broker. (2) If I am currently a designated broker, will I have to take the test again? You will only have to retake the test if you stop working as a designated broker for five years or longer. (3) If I am currently a designated broker that originates loans, will I have to take the loan originator test and obtain a loan originator license? Yes. You must take and pass the national and state NMLS tests and obtain the necessary prelicensing education prior to acting as a loan originator. (4) Where can I get information about the designated broker test? Go to the department's website for information about the designated broker test: http://www.dfi.wa.gov/cs/mb_testing.htm . (5) What topics may be covered in the designated broker test? See WAC 208-660-600 (3). (6) How soon after failing the designated broker test may I take it again? After failing the test three consecutive times you must wait at least fourteen days before taking the test again.