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 information is typically found in a Job Letter that is required by a Lender?

A) Borrower's favorite hobbies
B) Borrower's daily commute details
C) Borrower's position, income, and payment frequency
D) Borrower's future aspirations

The correct answer is: C) Borrower's position, income, and payment frequency

A Job Letter that is required by a Lender typically includes information about the Borrower's position, income, and payment frequency. This information is important for the lender to assess the Borrower's financial stability and ability to make payments on a loan. The other options, such as the borrower's favorite hobbies, daily commute details, and future aspirations, are not relevant in this context and would not be included in a job letter required by a lender. Including these details may even be seen as unprofessional and could potentially harm the borrower's chances of getting approved for a loan.