Quebec AMF Broker Practice Questions - AMF Mortgage Broker Qualification Examination (Quebec) Exam

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A mortgage broker holds a significant ownership stake in a private lender to which they frequently refer clients. According to AMF regulations, what is the most stringent obligation for the broker in this scenario?

Disclose the conflict of interest in writing to the client before any services are rendered and obtain the client's explicit consent to proceed. Simply inform the client verbally about the affiliation during the initial consultation. Ensure the client receives a competitive interest rate from the affiliated lender, making the conflict irrelevant. Abstain from referring clients to that specific lender to avoid any potential conflict entirely.

Correct Answer:

Disclose the conflict of interest in writing to the client before any services are rendered and obtain the client's explicit consent to proceed.

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