Mortgage Broker Licensing Practice Exam · Question
Which regulator oversees mortgage brokerages, brokers, agents and administrators in Ontario?
FSRA is the provincial regulator that licenses and supervises mortgage brokerages, brokers, agents and administrators in Ontario under MBLAA, 2006.
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Question: Which regulator oversees mortgage brokerages, brokers, agents and administrators in Ontario?
Answer options:
- The Investment Industry Regulatory Organization of Canada (IIROC)
- The Canada Mortgage and Housing Corporation (CMHC) ✅ The Financial Services Regulatory Authority of Ontario (FSRA)
- The Office of the Superintendent of Financial Institutions (OSFI)
Correct answer: The Financial Services Regulatory Authority of Ontario (FSRA)
Explanation: FSRA is the provincial regulator that licenses and supervises mortgage brokerages, brokers, agents and administrators in Ontario under MBLAA, 2006.
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Related Questions
- What is the typical time frame for a mortgage agent to provide the required disclosure statement to a client?
- Funds received from a client or investor that the brokerage holds on their behalf must be deposited into:
- Ontario mortgage agents must complete which of the following at each licence renewal?
- Which entity is responsible for licensing and regulating mortgage brokers and agents in Ontario?
- What is a 'material change' in relation to a client's mortgage application?
- Ethical behavior for a mortgage broker includes:
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Question explanations
- What is the typical time frame for a mortgage agent to provide the required disclosure statement to a client?
- Funds received from a client or investor that the brokerage holds on their behalf must be deposited into:
- Ontario mortgage agents must complete which of the following at each licence renewal?
- Which entity is responsible for licensing and regulating mortgage brokers and agents in Ontario?
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