Out of Province Licensed Applicant Quiz – $30

This course focuses on competencies (knowledge and skills) that are Ontario specific to ensure out-of-province applicants have knowledge of the requirements included in the Mortgage Brokerages.

Google Rating
4.9
Based on 1776 reviews
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Learning Outcomes

This course focuses on competencies (knowledge and skills) that are Ontario specific to ensure out-of-province applicants have knowledge of the requirements included in the Mortgage Brokerages, Lenders and Administrators Act, 2006 (MBLAA), its regulations and FSRA’s guidance and rules that differ from other jurisdictions (i.e., local knowledge requirements).

Upon completion of the seminar/quiz, out-of-province applicants will be able to demonstrate knowledge of the requirements to practice the mortgage broker/agent occupation in Ontario. That is, they will be able to:

  1. Explain the legal and regulatory framework that applies to mortgage brokering in Ontario;
  2. Differentiate between mortgage brokerage/broker/agent/administrator in Ontario; and
  3. Apply the requirements (including standards of practice) applicable to mortgage brokering in Ontario

Consider the following steps for quiz

30 minutes

20 questions

70% pass requirement

2 attempts included

Areas of Focus

Out-of-province applicants must understand:

MBLAA/Regulations Under the Act
  1. Licensing Requirements:
    • Licence categories (two tiers of agent licensing in Ontario, different names for licensing classes across Canada)
  2. Role of the Principal Broker
    • Not clearly set out in all provinces
  3. Mortgage Suitability
    • Not all provinces have the requirement set out the same way as Ontario
    • Reasonable steps in Ontario
    • Private lending in Ontario
  4. Disclosure Requirements
    • FSRA forms
  5. Regulation and Enforcement
  6. Filings, Errors and Omissions (E&O) insurance and Financial Guarantee requirements
    • AIR
    • E&O
    • Financial statements and financial guarantee for mortgage administrators
  7. Standards of Practice
    • Mortgage Agents and Brokers
    • Mortgage Brokerages
    • Mortgage Administrators
  8. Continuing Education Requirements

WHAT OUR STUDENTS ARE SAYING ABOUT US

Real-time google reviews
Google Rating
4.9
Based on 1776 reviews
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Thank you for writing back. Last night I was not able to access the website. But this morning is up and running. Thank you for reaching out.
Fressia Rivas
Fressia Rivas
1712420870
User-friendly interface.Lower fees compared to other options.
Ankit Dewan
Ankit Dewan
1712387852
Very east to use.. good experience. Informative.. I didn't have any issues
Tejal Desai
Tejal Desai
1711571130
Great resources with very flexible options for taking courses. The instructors are all very informed and knowledgable. A fantastic institution for mortgage education
Elias B Khelifa
Elias B Khelifa
1711557688
Highly recommended. I know Joe more than a decade & he is doing awesome in the Education part & helping agents.
jyoti maharana
jyoti maharana
1711484425
This course was very informative and user friendly.
Rattan Chopra
Rattan Chopra
1711401775
For your HLLOP exams, if you are not using Remic you are missing out because if it is not Remic, it can never be Remic
I enjoyed this course because it refreshed my memories and the excitement I had when I prepared for my exam.
Paul Ku
Paul Ku
1711211687
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