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 1810 reviews

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:

Explain the legal and regulatory framework that applies to mortgage brokering in Ontario;
Differentiate between mortgage brokerage/broker/agent/administrator in Ontario; and
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

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

WHAT OUR STUDENTS ARE SAYING ABOUT US

Real-time google reviews

Google Rating

4.9

Based on 1810 reviews

4.9

Brian Veeren

I recommend REMIC for all students interested in pursuing a Mortgage career regardless of your financial or non-financial career background. The learning outcomes, objectives & methodology offered throughout this course represents the professionalism REMIC strives for to improve the client / borrower service experience.

Candice Dietrich

I recently took the Mortgage Agent Level 1 course online and was very impressed. It's a lot of material to cover and the instructors did a fabulous job of making sure everyone understood the course material and was well prepared for the exam. See you in a year for Level 2!

James Figliomeni

I loved the structure of the course and the learning path. The instructors are extremely professional and engaging. Kevin is a wealth of knowledge and experience...Thank you All!!

Gwenda Lambert

Easy to follow, great examples. I would recommend for anyone entering the life insurance business

Jacqueline Ward

I wanted to start a new career and they made it easy to get going. I completed the Life Insurance course in 30 days due to their well laid out program.

Terry Allison

Day 1 of the LLQP course online was just what I needed. Damian was very helpful, entertaining, and knowledgeable. I'm confident that this training and resources will allow me to take the LLQP exams with confidence.

Lisa Marks

The layout of the course and ease of doing it in an online format were what made me decide to proceed with doing the course. The option to be able to complete the course within 7 days up to 6 months allows for time management and to work with your own schedule. The text and online video's help to give you the best understanding of the content for this course.

Todd Marple

I highly recommend REMIC. The learning experience was truly next level. The courses and materials were all user friendly and access to support was virtually a click away. Thank you for the knowledge and may you continue educating the generations to come.Best Regards,T. Marple

Piyush Tiwari

I took up Mortgage Agent 1 course, it was very elaborated and informative course. Really enjoyed the exam prep course with the instructor.

Romane Kerr

The course was well received in its most simplest form. From the comfort of my convenience, it was well received and understood. The practice quiz and Examination played a major role in my success and also the discussion panel brought clarity to the material. I will encourage anybody who has the desire to learn more about mortgage to use REMIC’s online material and course thank you.

Jason Fox

An excellent course to prepare for your provincial licensing exam.

Fraser MacMillan

I found the course exciting and interesting in a user-friendly way.The more I studied, the more I felt I was in an industry that really helped people protect their families through insurance!