Mortgage Agent Licensing Practice Exam · Question
Conventional mortgage in Canada:
High-ratio is >80% and insurance required.
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Question: Conventional mortgage in Canada:
Answer options: ✅ LTV ≤ 80%
- LTV > 80%
- Always insured
- Reverse
Correct answer: LTV ≤ 80%
Explanation: High-ratio is >80% and insurance required.
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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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