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!

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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Can a Mortgage Agent provide a copy of a client's credit report to the client?

Yes, under certain circumstances
No, only lenders can provide credit reports
No, a Borrower must contact the Credit Bureau directly
Yes, but with written consent from the lender

The correct answer is: No, a Borrower must contact the Credit Bureau directly

A Mortgage Agent is not authorized to provide a copy of a client's credit report as they are not the source of the information. Only the Credit Bureau or lenders have access to a person's credit report. In some cases, a Mortgage Agent may be able to request a copy of the credit report on behalf of the client, but it must come from the Credit Bureau directly. It is important for clients to be cautious about sharing this sensitive information and to go through the appropriate channels to obtain their credit report.