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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What does a Mortgage Investment Corporation (MIC) allow investors to do?

Choose appropriate solutions based on borrower's needs
Receive income through dividend payments
Identify the potential solutions in a transaction
Facilitate the transaction to its successful completion (funding)

The correct answer is: Receive income through dividend payments

A Mortgage Investment Corporation (MIC) is a type of investment that specifically focuses on investing in mortgages and real estate. This means that investors who choose to invest in a MIC are essentially investing in a portfolio of mortgages and real estate assets. As such, the main goal of a MIC is to generate income for investors through dividend payments, making option B the correct answer. The other options are incorrect because A: Choosing appropriate solutions based on borrower's needs is a responsibility of a mortgage lender or broker, not a MIC. C: Identifying potential solutions in a transaction is also a role of a mortgage lender or broker, not a MIC. D: Facilitating a transaction to its successful completion (funding) is typically done by banks or other financial institutions, not a MIC. Overall, a MIC's main purpose is to provide a steady income stream for investors through dividend payments, making it an attractive investment option for those looking for a stable source of income.