Mortgage Loan Officer Test

A mortgage loan officer test can be used by employers to identify candidates with the necessary skills and competencies to be a successful mortgage loan officer.

  • What is a mortgage loan officer test?

    A mortgage loan officer test is a useful way to assess the skills and competencies of candidates during the early stages of recruitment.

    The timed multiple-choice assessment tests candidates on a range of skills necessary to succeed in the role such as attention to detail, numerical skills and teamwork.

    The test is becoming increasingly popular amongst recruiters and businesses who employ mortgage loan officers as it provides a data-driven way to recruit, making shortlisting easier and bias-free.

    Candidates who typically do well score in the top 50% of test-takers, allowing you to invest your time in higher quality candidates and removing those who do not meet your requirements from your selection process early on.

About the Mortgage Loan Officer Test

A mortgage loan officer is typically responsible for selling mortgage products to customers using effective communication. They are required to review and update loan files and documentation, as well as needing a wealth of knowledge on the different loans and credit facilities available to the customer.

Picked's mortgage loan officer test is designed to assess applicants on these aptitudes to determine their job readiness, so only the most qualified and skilful candidates are shortlisted.

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  • Why should you use a mortgage loan officer test?

    Finding the most suitable candidates in your talent pool based on resumes or applications alone can be challenging, particularly when applicants might have a seemingly similar level of experience, qualifications, and skillset.

    A mortgage loan test helps solve this difficulty by giving you the ability to assess your candidates using test data, making your decision making process data-driven and bias-free.

    The results you receive will highlight the core competencies candidates have in each area. Candidates who score within the top 50% of test scores typically get shortlisted for the next stage of the recruitment process, while those who did not meet the required level are withdrawn.

    The mortgage loan officer test could be useful for the following roles:

Picked Sample Report

View a sample report

Results for the Mortgage Loan Officer Test along with other assessments the candidate takes will be compiled to produce a candidate report. The report is automatically generated and available both online and as a downloadable pdf so they can be shared with other team members and employees alike.

How our test assesses mortgage loan officer skills

Candidates will need to answer a range of questions that measure industry-specific technical skills where applicable, soft skills (e.g. interpersonal), aptitude (e.g. numerical reasoning) and relevant personality dimensions (e.g. detail orientation). The results present a holistic view of how well suited each candidate is for the job at hand, using a data-driven approach.

The format varies by type of question, including multiple-choice for aptitude and technical skills, situational judgement for soft skills and agreement on a Likert scale for the personality dimensions. This approach ensures candidates are being assessed in an accurate and fair manner, and that results reflect the true underlying qualities of each candidate.

The characteristics, abilities and knowledge necessary to be a mortgage loan officer were identified using the US Department of Labor's comprehensive O*NET database. O*NET is the leading source of occupational information that is constantly updated by collecting data from employees in specific job roles.

During the development process, test questions were rigorously analysed to maximise reliability and validity in line with industry best practices. They were created by our team of I/O psychologists and psychometricians – who collaborated with subject-matter-experts – and field-tested with a representative sample of job applicants who have varying experience, just like you might find in a talent pool.

Each test is reviewed by a panel of individuals representing diverse backgrounds to check for any sensitivity, fairness, face validity and accessibility issues. This ensures each candidate has a fair chance of demonstrating their true level of expertise.

Our mortgage loan officer test is monitored to ensure it is up-to-date and optimised for performance.

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    Fully accredited

    All our Mortgage Loan Officer tests are written by accredited psychologists and fully validated.

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    For all levels

    We offer Mortgage Loan Officer tests for all levels so you can assess all roles within your organisation.

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    Simple, easy-to-use candidate comparison reports mean you don’t need to be a psychologist to interpret them.

“We used Picked as part of our Finance Graduate Scheme recruitment and it was just what we needed – really simple to send candidates the link to complete and clear to see how they all compared. And great value for money!”
Christina, HR Director, Cancer Research, UK
Christina, HR Director, Cancer Research, UK
“Personality profiling allowed us to perform lookalike modelling of our most successful employees and use this as a blueprint for new hires.”
Nick, HR Operations, Airbus, Spain
Nick, HR Operations, Airbus, Spain

FAQs

What are the key skills for a mortgage loan officer?

The key skills you should look for when recruiting a mortgage loan officer are:

  • Great interpersonal skills and communication
  • World-class customer service
  • Knowledge of how credit, financial services and loan products work
  • Attention to detail
When in the application process is it best to use a mortgage loan officer test?

You should use the mortgage loan officer test during the early stages of recruitment (also known as pre-screening). This will allow you to shortlist top-quality candidates early on and invest time interviewing the most suitable candidates with the skillset you are looking for.

What is the cost for Picked's mortgage loan officer test?

Picked operates on a monthly or annual subscription basis. We have several plans to suit your hiring needs, which you can check out here. Alternatively, you can get in touch with us to discuss a custom plan.

Can I get a free trial?

Yes, simply sign up (no credit card is required) and we'll give you unlimited access for 7 seven days. Create as many jobs and test as many candidates as you want; you won't be charged a penny.

“Focusing on data reduced the subjective decision making from our hiring process and allowed us to reduce bias and make better hiring decisions.”
Izzie, Head of HR, iZettle, Sweden
Izzie, Head of HR, iZettle, Sweden

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