NZ Level 5 Residential Property Lending exam-day guide
NZ Level 5 Residential Property Lending · Prepare for the day ahead.
Your checklist
Photo ID matching your registration
Bring the same original photo identification you used when you registered. Check the name spelling matches your enrolment exactly. If you have changed your name or are unsure which ID is accepted, confirm with the provider before test day.
Admission or booking confirmation
Print or save the confirmation email showing your candidate number, test centre or remote-proctoring link, and start time. Have it accessible before you sit down.
Confirmation of permitted materials
This exam is normally closed-book. Confirm with the provider whether any reference material, formula sheet, or calculator is allowed, and whether an on-screen calculator is provided. Do not assume.
Calculator if permitted
Lending calculations involve loan-to-value ratios, servicing buffers, and repayment figures. If a physical calculator is allowed, bring a basic non-programmable one with fresh batteries. Otherwise practise with the on-screen tool.
Scratch paper and pen/pencil if permitted
Useful for working through LVR and affordability calculations. Confirm with the provider whether scratch paper is supplied or you must bring your own, and whether notes must be handed in.
Knowledge of the question format
Confirm with the provider the number of questions, question types (multiple choice, short answer, scenario-based), time allowed, and pass mark before test day so you can pace yourself.
Reviewed summary of key formulas and thresholds
Write one page in your own words covering LVR, deposit and equity, debt-to-income and servicing calculations, and the responsible-lending concepts you have studied. Use it for revision only unless the provider confirms notes are permitted.
Practised scenario questions under time
Complete at least two timed practice sets so you know your pace per question. Scenario questions on owner-occupier versus investor lending, refinancing, and construction loans take longer than definition questions.
Logistics confirmed
Know your travel route, parking, or remote-test setup. For remote proctoring, test your camera, microphone, and internet connection the day before and close background applications.
Rest and hydration plan
Sleep properly the night before, eat beforehand, and bring water if the venue permits it. Confirm with the provider whether drinks are allowed at your desk.
Plan the day
Stop learning new material. Re-read your one-page summary of formulas and thresholds, then work through practice questions on your weakest topics. For residential lending these are usually LVR and equity calculations, servicing and affordability assessment, loan structure and product selection, and the borrower disclosure and responsible-lending obligations you have studied. Note every question you get wrong and write the correct reasoning beside it.
Re-confirm logistics with the provider: start time, venue or remote link, ID requirements, permitted items, and the rules on breaks and calculators. Resolve any uncertainty now rather than on the morning.
Do one light review pass only, focusing on your error list and formula sheet. Do not attempt a full mock exam late in the day. Prepare your bag: ID, confirmation, calculator, spare pen, water if allowed. Charge devices and, for remote testing, run a final equipment check.
Set two alarms, plan your departure time with a buffer, and get a full night's sleep. Avoid last-minute cramming that displaces sleep.
Eat a proper meal and arrive at the venue or log in early, allowing time for ID checks and setup. Re-read only your one-page summary; do not start new topics. Keep your phone off and stored as the provider directs.
Read the instructions and note the time limit. Do a first pass answering questions you know, flagging anything that needs calculation or careful reading. Watch for distractors such as an LVR figure that ignores fees, or a servicing answer that omits an existing debt. Show your working on calculation questions if the format allows partial credit.
On scenario questions, identify the borrower's goal and constraints first, then eliminate options that breach the lending or disclosure rules you have studied. If a question is ambiguous, choose the best-supported answer and move on. Leave time at the end to check flagged questions and confirm every question is answered.
Rules to check
Bring original photo identification matching your registration; entry may be refused without it. Confirm accepted ID types with the provider in advance.
Follow the provider's rules on permitted items. Unless confirmed otherwise, assume phones, smart watches, notes, and unauthorised calculators must be switched off and stored away.
Closed-book conditions are typical for this exam. Do not communicate with other candidates or use unauthorised material; misconduct can lead to invalidation of your result.
Confirm with the provider whether scheduled or unscheduled breaks are allowed, how they affect your time, and whether you may leave the room. For remote testing, confirm what movement triggers a proctor flag.
Scoring and the pass mark are set by the provider. Confirm the pass mark, whether marks are deducted for wrong answers, and when results are released.
If you believe a question is faulty, note it if the platform allows and continue; do not stop working. Raise it with the provider through the official channel afterwards.
For remote-proctored tests, keep your face and workspace visible, use a stable connection, and follow the proctor's instructions on room scans and environment checks.