Question 1
A borrower has an annual gross income of $75,000. Their monthly mortgage payment (P&I) is $1,600, property taxes are $300/month, and heating costs are $100/month. What is their Gross Debt Service (GDS) ratio?
Correct Answer:
32%
Question 2
Following from the previous question, the borrower also has a car loan payment of $400/month and a credit card minimum payment of $50/month. What is their Total Debt Service (TDS) ratio?
Correct Answer:
39.2%
Question 3
For a conventional uninsured mortgage application, what is the current OSFI qualifying rate (stress test) used by federally regulated financial institutions?
Correct Answer:
The greater of the mortgage contract rate plus 2% or 5.25%.
Question 4
Which of the following is an *unacceptable* source for a down payment for a high-ratio insured mortgage in Canada?
Correct Answer:
Unsecured personal loan.
Question 5
What is the minimum down payment required for an owner-occupied residential property with a purchase price of $450,000 in Canada?
Correct Answer:
5%
Question 1
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About this Exam

Prepare with the AMPC Designation Practice Questions - Accredited Mortgage Professional of Canada Designation Exam practice quiz. This question bank includes 100 questions covering mortgage, property, typically, canada, and borrower. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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AMPC Designation Practice Questions - Accredited Mortgage Professional of Canada Designation Exam

This practice set contains 100 questions from the matching question bank and focuses on mortgage, property, typically, canada, and borrower. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

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