Ontario Mortgage Agent Practice Exam

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Study for the Ontario Mortgage Agent Exam. Prepare with flashcards and multiple choice questions, each question includes hints and explanations. Get ready for your test!

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Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

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According to the Borrowers Assumptions, what should a practitioner do in the borrower's best interest?

  1. Apply the core value: Honesty

  2. Provide appropriate protection against fraud

  3. Act in the borrower's best interest

  4. Choose the appropriate solution

The correct answer is: Act in the borrower's best interest

A is incorrect because while honesty is an important core value, it is not explicitly stated in the Borrowers Assumptions that a practitioner should apply it in the borrower's best interest. B is incorrect because providing protection against fraud is a necessary responsibility for practitioners, but it is not the main focus of the Borrowers Assumptions. D is incorrect because while choosing the appropriate solution is important, it may not always align with the borrower's best interest. The Borrowers Assumptions emphasize the importance of acting in the borrower's best interest at all times. Therefore, C is the most correct answer.

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