Mortgage Agent Licensing Practice Exam · Question
Which organization sets out the professional standards of practice and the code of conduct for mortgage agents and brokers in Ontario?
FSRA is the provincial regulator responsible for establishing and enforcing the professional standards of practice and the code of conduct that all licensed mor
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Question: Which organization sets out the professional standards of practice and the code of conduct for mortgage agents and brokers in Ontario?
Answer options:
- The Bank of Canada
- The Canadian Association of Mortgage Professionals (CAMP) ✅ Financial Services Regulatory Authority of Ontario (FSRA)
- The Ministry of Finance
Correct answer: Financial Services Regulatory Authority of Ontario (FSRA)
Explanation: FSRA is the provincial regulator responsible for establishing and enforcing the professional standards of practice and the code of conduct that all licensed mortgage agents and brokers in Ontario must adhere to.
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Question explanations
- Which of the following is NOT a primary provider of mortgage default insurance in Canada?
- When must a mortgage agent provide the borrower with certain disclosures regarding the proposed mortgage, part
- Michael and Jennifer are applying for a mortgage to purchase a home in Calgary for $700,000. Their combined gr
- Which of the following scenarios would typically lead to a higher mortgage interest rate for a borrower?
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