Mortgage Agent Licensing Practice Exam · Question
Which of the following types of mortgages is primarily subject to the OSFI B-20 stress test guidelines?
The OSFI B-20 guidelines specifically target uninsured mortgages (those with a down payment of 20% or more) originated by federally regulated financial institut
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Question: Which of the following types of mortgages is primarily subject to the OSFI B-20 stress test guidelines?
Answer options: ✅ Uninsured mortgages from federally regulated financial institutions.
- All insured mortgages, regardless of the lender.
- Mortgages offered by provincial credit unions only.
- Home equity lines of credit (HELOCs) below 65% loan-to-value.
Correct answer: Uninsured mortgages from federally regulated financial institutions.
Explanation: The OSFI B-20 guidelines specifically target uninsured mortgages (those with a down payment of 20% or more) originated by federally regulated financial institutions. Insured mortgages are subject to a similar, but distinct, stress test set by the Department of Finance.
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- Which of the following is NOT a primary provider of mortgage default insurance in Canada?
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