|For Immediate Release:||20 May 2008|
|PR Contact:||Pearson VUE
Heather Young, Marketing Manager
Alaska to Require Licensure Exams for its Mortgage Lending Professions: Pearson VUE to Develop and Administer the Exams
BLOOMINGTON, Minn., May 20, 2008 — Pearson VUE, the electronic certification and licensure testing business of Pearson, announced today that the State of Alaska Department of Commerce, Community, and Economic Development (“Department”) has selected Pearson VUE to develop and administer licensing exams for Alaska mortgage brokers and loan originators. The contract was awarded following a competitive bidding process in April and was signed in May.
Alaska joins the growing trend of states requiring a licensure exam for the mortgage profession, becoming the ninth state to do so. Currently, Pearson VUE has contracts with six of these states, including Alaska, making it the leading provider of licensure exams for mortgage lenders, brokers, and loan originators.
“Recent events in the mortgage industry have made the examination program a necessity,” said Mark Davis, Director of the Division of Corporations, Business and Professional Licensing. “To better protect home buyers, it was essential for our State to contract with a reliable vendor with a proven reputation. Pearson VUE, who has successfully administered our Department’s insurance licensure program for almost 20 years, fit this description perfectly.”
Pearson VUE is responsible for original exam development and electronic administration throughout their test center network. Once testing begins in July, the Department can expect an exam that is a fair and accurate assessment of all relevant statutes and procedures related to mortgage brokers and loan originators in Alaska. Additionally, candidates will benefit from such features as 24/7 exam registration through the Web; toll-free telephone support (available during business hours in Alaska’s time zone); a helpful candidate handbook; immediate, on-site score results, and convenient test center locations.
Pearson VUE operates three test centers within the State that are augmented by “petition testing sites.” Unique to Alaska, petition testing consists of a network of sites mutually identified by Pearson VUE and the State, offering exam administration in remote parts of Alaska at identified peak times. This arrangement has already met success in Pearson VUE’s administration of the Alaska insurance and real estate licensure programs.
Art Valentine, vice president of professional services and general manager of regulatory services at Pearson VUE said, “Our proposed solutions meet all of the State’s requirements for convenience, security, exam development, and most importantly, consumer protection. The Department can now look forward to a smooth implementation, flawless service delivery, and unparalleled customer support.”
Robert Whelan, president of Pearson VUE said, “The State of Alaska’s Department of Commerce has entrusted us with a serious responsibility in developing this critical examination program. Our plan is to not only build the program, but to also build a genuine partnership with the Department; working together, we will ensure their licensure program is a success and that all constituents are completely satisfied.”
In related news, the Alaska Department of Commerce, Community, and Economic Development also announced today that its Division of Insurance (“Division”) has renewed its contract with Pearson VUE for the development and administration of the State’s insurance licensure examination program. The Division awarded Pearson VUE the contract through a separate competitive bid process issued in April. This renewal extends Pearson VUE’s partnership with the Division, which began in 1990, for up to five additional years.
About Pearson VUE
Pearson VUE (www.pearsonvue.com) is the global leader in electronic testing for regulatory and certification boards, providing a full suite of services from test development to test delivery to data management. Pearson VUE offers exams through the world’s largest network of test centers in 162 countries, providing testing services for information technology, academic, government and professional clients. Pearson VUE acquired the former Promissor in 2006, thereby extending its leadership in the certification market. The company’s innovative technology offers the highest levels of security and program control, while its commitment to service provides clients and individual test takers with an unmatched testing experience.
Pearson VUE is a business of Pearson (NYSE: PSO; LSE: PSON), the international media company, whose businesses include the Financial Times Group, Pearson Education and the Penguin Group.