Ontario Mortgage Agent L1 Practice Questions - Ontario Mortgage Agent Level 1 Licensing Exam

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An individual wishes to be licensed as a mortgage agent. Which of the following conditions, if true, would likely prevent them from obtaining a license under MBLAA?

The individual has been found guilty of a criminal offense related to fraud in the last five years. The individual has recently completed the required mortgage agent course. The individual has filed for bankruptcy ten years ago and has since been discharged. The individual is sponsored by a licensed mortgage broker.

Correct Answer:

The individual has been found guilty of a criminal offense related to fraud in the last five years.

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