Mortgage Agent Licensing Practice Exam · Question
Which regulatory body is responsible for Guideline B-20, which dictates the mortgage stress test for federally regulated financial institutions?
The Office of the Superintendent of Financial Institutions (OSFI) is the primary regulator for federally regulated financial institutions in Canada, and it issu
Start free practice for Mortgage Agent Licensing Practice Exam
307 questions · no signup required · 40 free questions per day
Question: Which regulatory body is responsible for Guideline B-20, which dictates the mortgage stress test for federally regulated financial institutions?
Answer options:
- The Canadian Mortgage and Housing Corporation (CMHC)
- The Financial Services Regulatory Authority of Ontario (FSRA) ✅ The Office of the Superintendent of Financial Institutions (OSFI)
- The Bank of Canada
Correct answer: The Office of the Superintendent of Financial Institutions (OSFI)
Explanation: The Office of the Superintendent of Financial Institutions (OSFI) is the primary regulator for federally regulated financial institutions in Canada, and it issued Guideline B-20 to ensure these institutions manage their mortgage lending risks appropriately.
Start free practice for Mortgage Agent Licensing Practice Exam
307 questions · no signup required · 40 free questions per day
More about Mortgage Agent Licensing Practice Exam
Related Questions
- 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?
- Which type of lender typically offers the most flexible underwriting criteria but often at higher interest rat
- Which of the following bodies is primarily responsible for regulating mortgage brokers and agents in Ontario?
More for Mortgage Agent Licensing Practice Exam candidates
FAQs
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?
Ready to practice?
Free, no signup required. Build a wrong-question list as you go.
Start Free Mortgage Agent Licensing Practice Exam Practice →Related courses
Other Canadian certifications candidates often prepare for alongside this one.