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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What action does Pipedda Consent allow a mortgage agent to take?

Apply the core value: Act in the best interest of the clients
Facilitate the transaction to its successful completion (funding)
Gives the agent consent to use the applicant's information
Review the process

The correct answer is: Gives the agent consent to use the applicant's information

Pipedda Consent allows a mortgage agent to have consent from the client to use their information. This means that the client is giving explicit permission for the agent to access and use their personal and financial information in order to facilitate and complete the mortgage transaction. Option A, applying core values, may be important for the agent's overall professional conduct but it is not a specific action related to using a client's information. Option B, facilitating the transaction, is also an important task for the agent, but it does not specifically relate to obtaining and using the client's consent. Option D, reviewing the process, may be necessary for the agent to do in order to complete the transaction successfully, but it is not the main purpose of Pipedda Consent.