REMIC Mortgage Agent Course FAQs

FAQ Topics- Click on a topic to see the available questions

FAQ Questions – Click on a question to see the answer

Tax Deductions


Online assignments


Job Placement

Registration / Paying for a course


Transfer from online to in class


Online course

In Class Courses


FAQ Answers

Do I get a T2202A?

T2202A forms are issued to the students who have paid $100.00 or more in eligible fees for qualifying courses beginning and ending in a particular calendar year.

Is this course tax deductible?

In depth questions regarding the use of the T2202A form in the tax preparation process should be directed to Revenue Canada. Tax guides are available from any Revenue Canada office or a Post Office. Revenue Canada also publishes a booklet called “Students & Income Tax” – Government form P105 (E).

When do you issue the T2202A?

Official receipts for income tax purposes covering tuition fees paid for qualifying courses taken during the preceding calendar year are available in late February. In accordance with Revenue Canada regulations, official receipts (T2202A Forms) are only issued for tuition fees totaling $100.00 or more. Materials and administrative fees are not eligible for tax deduction.

How long do I have to pass the final exam?  How long does the course run?

You have access to the course for six months, which means you must pass the exam within those six months.  After six months your course expires and you will need an extension if you wish to continue it. 

How long is the final exam?

You have 3 hours to complete the exam.

How many questions are on the final exam?

The final exam consists of 50 multiple choice questions, many based on case studies that are designed to test your knowledge and understanding of the course material as required by the Financial Services Regulatory Authority of Ontario (FSRA).

Where can I write my final exam?

Exams can now be completed fully online. If you are doing the course online and within the GTA, REMIC hosts examinations at our head office training facility every week at Sheppard and Victoria Park. If you are doing the course online and are outside the GTA, you can choose to write your examination at any College or University test centre of your choice. If you are doing an in class course, you would write the examination on the last day of the course. REMIC offers courses at both our Toronto and Mississauga location.

What do I have to bring to the exam?

You must bring your photo ID (either a driver’s license or valid passport) and one additional piece of valid identification, a pen or pencil and your calculator. No other aids are allowed during the exam.

When will I see my grade to know if I passed the exam?

If writing online your exam grade will typically be available within 3 business days. If writing in person in the GTA you will have access to your final mark online the same day as you wrote your examination. If writing at a College or University we will typically advise you within 24 hours as we request that the College or University fax your exam to us immediately as well as courier your original exam to us.

When do I get my certificate if I pass?

Once you have been notified that you have passed the course you will be required to log in to the online section of the course and complete our feedback. You will then be able to print your certificate of completion and save it electronically.

Do I have to do the online assignments and discussions?

No, however they are designed to help you understand the material and will greatly increase your chances of passing the final exam. While your final grade is based solely on the final exam, it is strongly recommended that you complete all assigned tasks in the course.

Is this course recognized by the regulator / Financial Services Regulatory Authority of Ontario (FSRA)

Yes, the REMIC Mortgage Agent Course (RMAC) is approved by FSRA and meets the educational requirements to obtain a mortgage agent license in Ontario.

How do I apply for my license once I’m finished the course?

Once you have passed the course you must then be hired by a licensed mortgage brokerage that will initiate the licensing process on your behalf. This is a Financial Services Regulatory Authority of Ontario (FSRA) requirement.

Do I have to take continuing education to maintain my license?

Yes, there is a mandatory course that you will need to take before you are able to renew your license. In 2020 it was the “2020 Ontario Continuing Education Course for Mortgage Brokers and Agents”which isa 5 hour course. 

Do I have to begin the course on a specific date?

If taking RMAC online you have the flexibility to begin your course at any date, and you may complete it within as little as one week or up to 6 months – the choice is yours. If taking the in class course you must begin and end the course on set dates.

How much time should I devote to the course each day?

This depends on your learning skills. While some take longer others learn and understand the material more quickly. The course is designed to be completed in 47 hours, which includes online exercises, tutorials, assignments, tests, and reading. We suggest that you set aside at least this amount of time to complete the course.

How do I receive my textbook?

You will receive an online login immediately following your registration that gives you access to an electronic version of the textbook, whether you are doing the course in class or online. This way you can get started in the course right away! If you purchased a printed copty of the textbook REMIC will also ship this to you within 2 business days.

What is the cost of the course?

The cost of the in class course is $385, which includes an electronic and hard copy of the textbook. The in class course also includes full online access. The online course can be purchased for $338 (electronic textbook only) or for $365 which includes a hard copy of the textbook. Regardless of delivery mode the course includes the examination and a free rewrite if needed. There are no other costs associated with the course other.

How can I pay for the course?

Through REMIC’s secure shopping cart you can pay by credit card or using your PayPal account. In person at 2175 Sheppard Avenue East, Suite 307 where you can pay by debit card, Visa, Mastercard, AMEX or cash (our office is closed at this time due to COVID-19).

Who teaches the course?

Only qualified and experienced industry experts are used to teach the course, which was developed by veteran industry expert and REMIC President, Joseph J. White who is also the author of the textbook.

How does job placement work?

Once you have passed the course you will have the option to create a free account in the REMIC Job Bank. The Job Bank allows you to view job postings from brokerages across Ontario. Like a typical job bank, mortgage brokerages will also have access to your resume and cover letter (should you include them), allowing them to contact you directly and setup an interview. REMIC will provide you information and resources that will assist you in the interview process; understanding the procedures and knowing the right questions are vital when choosing a brokerage to join as a mortgage agent. This is a completely free service for all previous REMIC RMAC students.

What if I fail the exam?

If you fail the exam you can arrange a rewrite exam at the next available exam date. If you fail the rewrite you must re-enroll in the course, paying the full tuition. This is a FSRA requirement.

Do I need to be internet or “tech savvy” to take the online course?

No, the course is designed for those with basic computing skills, however the course contains rich and interactive content designed to engage you.

What if I disagree with my exam grade?

If you fail the exam you may request to review it at a time convenient to both yourself and REMIC. Please refer to our Policies and Procedures Manual for additional information.

Do I have access to a “live” person in the online course?

Of course! Your Professor, an industry professional, is there to help, Monday to Friday during regular business hours.

Am I on my own in the online course?

No, we are here to help! Your online course has a dedicated Professor who will interact with you, answering your questions and helping you along the way, when you need it. In addition, you are able to communicate with your fellow students in the course via chat message and open discussions.

Are there any prerequisites to taking the course?

No, the course is available to anyone, however it is recommended that you have at least a high school education with equivalent English language and math skills.

When can I drop the course and get a refund? Can I transfer or get an extension?

A student who wishes to withdraw from RMAC may do so by completing the request to withdrawal form and submitting it to REMIC. Please click here to open the online Withdrawal Request form. Upon receipt the request will be processed based on the following schedule: After registration but before the examination AND within 30 days of registration: 100% refund MINUS a $150 withdrawal fee. During or after the examination or after 30 days after registration: No credit and No refund.

What is the pass/fail rate?

REMIC does not publicize these statistics as they have no impact on your individual results and in publicizing these types of statistics a student may put more or less work into the course than required based on his or her perception. Students may defer the exam indefinitely if he or she feels unprepared for the exam. There is no cost for this privilege, however there is an extension fee for deferring the exam if you are looking to write outside of the 6-month course enrollment period.

I’m not prepared for the exam. What can I do?

You can request to defer the exam without cost or penalty, as long as the course is completed within 6 months of initial registration. This option is available to both online and in class students. As REMIC hosts open examinations every week, when you are ready you can book yourself in and write the exam.

Can I work at my own pace?

Yes. You can complete the course in as little as one week or take up to 6 months – the choice is yours.

What is the difference between an agent and a broker?

A broker and agent both ‘broker’ mortgages, however a broker may also hire agents and be the principal broker of a brokerage (equivalent to the Chief Compliance Officer). A broker does not necessarily earn more on a mortgage transaction than an agent. In addition, a broker must have been a licensed agent for at least two years, take and pass the broker course for licensing, and be approved by FSRA to upgrade his or her license from an agent to a broker.

My 6 months are up.  Can I get an extension? 
You may purchase an extension from 1 month to 6 months.  Please call us or email us to ensure that you get the correct extension.

Can I transfer from online to an in class course?
You can transfer from an online course to an in class course (availability and space permitting) by paying the transfer fee and the difference in the course cost.  Please call us or email us to process a transfer request.

Once registered, how long does it take before I get access to the online course?

Whether you register for an in class or online course you will have immediate access to the online information. This includes a soft copy of the textbook, audio-backed video tutorials, assignments, discussions, a case study and a full exam prep guide and practice exam. REMIC will also ship you a hard copy of the textbook within 2 business days (there may be delays due to COVID-19), or you can pick your textbook up before class or on the first day of class. All registrations are subject to REMIC’s acceptance policy. Any students not accepted will have their registration fee fully refunded.

Is this course offered in house at brokerage’s offices?

REMIC offers the REMIC Mortgage Agent Course (RMAC) in house to several brokerages, based on the brokerage meeting certain quality control and professional standards. The course is taught by a REMIC Professor and standard exam security is employed regardless of the location of the course. There is no difference in the course cost, content and/or exam, regardless of where it is delivered. The cost of the course is $385. A brokerage may charge an additional fee to the student for additional services it provides before or after the course, however the REMIC charge is $385 and REMIC does not charge nor does it receive any additional fees.

What dates are in class courses offered?

We offer several in class dates.  You can view them at www.remic.ca/inclass 

How long is the course valid/good for?

The course is valid for 2 years from the time you pass your exam. If you do not obtain a mortgage agent license within this time you must retake the course.

How do I register for the mortgage agent licensing course?

Registration is easy. Simply go to www.remic.ca/agentcourse and follow the instructions using our secure online payment system. You can also register in person at our head office training facility at 2175 Sheppard Ave East Suite 307, North York, ON, M2J1W8 (our office is closed at this time due to COVID-19). We accept Visa, Mastercard, Amex, debit, cash or certified cheque.