What are the continuing education and testing requirements?
Effective with the renewal period beginning July 1, 2007, all Wisconsin loan originators and loan solicitors must complete continuing education hours or must have passed the CE Test Out Exam during the 2 years immediately preceding the expiration date of the license that needs to be renewed. Loan Originators are required to complete at least 16 hours of approved continuing education. Loan Solicitors are required to complete at least 12 hours of approved continuing education.

During what time period must I take the CE courses for them to count toward the required total hours?
You must take your CE courses during the two years preceding the expiration date of your license. To avoid potential complications with the renewal of your license, it is highly recommended you complete your CE courses at least 30 days prior to the expiration date of your license.

If I decide to take the CE Test Out exam in lieu of CE courses, during what time period must I pass the CE Test Out exam?
You must pass your CE Test Out exam during the two years preceding the expiration date of your license. To avoid potential complications with the renewal of your license, it is highly recommended you pass your CE Test Out exam at least 30 days prior to the expiration date of your license.

What type of courses must I take?
You must accrue credit hours by taking courses offered by education providers where both the course and the provider have been approved by the Wisconsin Department of Financial Institutions, Division of Banking.

I have a Wisconsin loan originator/loan solicitor license; however; I am not a Wisconsin resident. Do I have to meet the CE requirement or pass the CE Test Out exam to have my license renewed?
Yes.

Does Wisconsin have CE reciprocity ?
At this time, Wisconsin does not have reciprocity with other states.

What is the CE Test Out exam?
The CE Test Out exam is the exam that a loan originator or loan solicitor must take if they wish to renew their license but do not have the required number of CE hours to renew their license.

Where do I find out more about the CE Test Out exam?
More information on the CE Test Out exam is available in the Candidate Handbook.

How are my exam results reported to the division if I take the CE Test Out exam?
If you pass the CE Test Out exam, Pearson Vue will automatically submit the results to the division.

Does Pearson Vue have a toll free telephone number that I can use to ask questions about the CE program or about my transcripts?
You can call Pearson Vue's Customer Care Center at 1-800-274-0266, Monday through Friday, 8 a.m. through 6 p.m., Eastern Standard Time.

How are my CE hours reported to the division?
The law requires that all approved providers of CE courses submit course completion information directly to Pearson Vue. Licensees will not be responsible for filing their completion certificates with Pearson Vue; however, they are advised to retain course completion certificates in the event a discrepancy occurs.

Will I receive written notification of my CE requirement before my license expires?
Yes. Effective with the renewal period beginning July 1, 2007, loan originator and loan solicitor renewal notices will identify the number of CE hours that the loan originator or loan solicitor has accrued.

Can I check to see how many CE hours I have accumulated?
This information is available at www.pulseportal.com. Under "Review your CE transcript" select "Wisconsin" and "Financial Institution" and then enter your last name, your license number and your social security number. You will be able to view and print a copy of your transcript.

Can I carry over continuing education hours from one renewal cycle
to the next?
No. Course credits earned during one 2 year licensing period may not be carried over to the next licensing period.

What happens if I don’t complete my continuing education requirement?
Loan originators and loan solicitors who have not completed their CE hours or passed the CE Test Out exam by the date their license expires will not be able to renew their license and will need to stop conducting business in Wisconsin.

For more details on renewing your license, visit our catalog of online courses.