CMB Study Guide 2026
Everything you need to pass the CMB exam in one place: the exam format, every topic to study, real practice questions with explanations, flashcards, and full-length practice tests. Free, no sign-up needed.
📋 CMB Exam Format at a Glance
📚 CMB Topics to Study (69)
✍️ Sample CMB Questions & Answers
1. When a lender pulls a tri-merge credit report for a single borrower with scores of 698, 712, and 735, which score is typically used for qualifying?
Agency guidelines generally use the middle of three scores for each borrower.
2. What is a Mortgage Servicing Right (MSR) and why does it have value?
An MSR is the right to service a mortgage loan, earned by collecting monthly payments, managing escrow, and handling investor reporting in exchange for a servicing fee (typically 25–50 bps annually on the unpaid principal balance).
3. A lender discovers a sold loan violated underwriting representations and warranties. The investor most likely will demand:
Rep and warrant breaches typically trigger repurchase demands or make-whole payments.
4. Under the Regulation Z loan originator compensation rule, an LO's compensation may NOT be based on which factor?
Paying LOs based on a loan's terms, such as the interest rate, is prohibited to stop steering toward costlier loans.
5. A borrower earns $9,000 gross monthly and has a proposed housing payment of $2,100 plus $600 in other monthly debts. What is the back-end DTI?
Total debts of $2,700 divided by $9,000 gross income equals a 30% back-end ratio.
6. A burnout effect in a seasoned mortgage pool refers to what?
Borrowers who could refinance already have, leaving less rate-sensitive borrowers in the pool.
🎯 Free CMB Practice Tests
📖 CMB Guides & Articles
What Practice Test Geeks adds beyond an AI chat for CMB
An AI chatbot can quiz you, but it can't reproduce the exam conditions or keep your record. Here you get:
- A timed, full-length CMB mock exam — 100 questions in 120 minutes with a 70% pass mark, modeled on the official exam's question count and time limit, followed by a score report broken down by exam domain.
- A fixed CMB question bank: the same test every attempt, so your score is comparable from one try to the next instead of changing with every regenerated quiz.
- Progress saved on your device: completed tests, scores and missed questions stay in My Progress, so you can retake only what you got wrong.
- A printable CMB cheat sheet you can print or save as a PDF.
- CMB flashcards built from the same question bank.
- Free CMB practice tests with the correct answer shown after each question.