Mortgage Broker Licensing Practice Exam · Question
Scenario 15: When arranging a mortgage with a private (non-qualified syndicated) investor/lender, the brokerage must provide which FSRA-prescribed disclosure form?
Investor/lender disclosure (e.g., FSRA Form 1.1 and accompanying documents) must be provided so private investors understand the risks before committing funds.
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Question: Scenario 15: When arranging a mortgage with a private (non-qualified syndicated) investor/lender, the brokerage must provide which FSRA-prescribed disclosure form?
Answer options:
- Form 1 only ✅ Form 1.1 / Investor disclosure documents
- No disclosure form is required
- Form 3.0 - referral acknowledgement
Correct answer: Form 1.1 / Investor disclosure documents
Explanation: Investor/lender disclosure (e.g., FSRA Form 1.1 and accompanying documents) must be provided so private investors understand the risks before committing funds. The correct answer is "Form 1.1 / Investor disclosure documents". This capacity-fill scenario 15 reinforces the same competency for the mortgage-broker bank and follows the certified explanation standard.
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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?
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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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