Mortgage Agent Licensing Practice Exam · Question
Regarding advertising and marketing, a mortgage broker is required to:
FSRA regulations mandate that all advertising by mortgage brokerages and agents must be clear, not misleading, and include the brokerage's name and licence numb
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Question: Regarding advertising and marketing, a mortgage broker is required to:
Answer options:
- Ensure all advertisements only promote the lowest available interest rates. ✅ Include their brokerage name and licence number in all advertising materials.
- Obtain prior approval from FSRA for every advertising campaign.
- Avoid mentioning specific mortgage products to maintain flexibility.
Correct answer: Include their brokerage name and licence number in all advertising materials.
Explanation: FSRA regulations mandate that all advertising by mortgage brokerages and agents must be clear, not misleading, and include the brokerage's name and licence number. This ensures transparency and consumer protection.
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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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