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!

Practice this question and more.

Who must sign the disclosure document?

The borrower and the real estate agent
The lender and the lawyer
The broker and the lender
The borrower and the mortgage insurer

The correct answer is: The broker and the lender

The broker and the lender must sign the disclosure document because they are the ones responsible for providing important information about the loan to the borrower. The real estate agent is not involved in the loan process and the lawyer is not responsible for providing loan information. The mortgage insurer is also not directly involved in the loan process, they only insure the loan. Therefore, the only correct options are C, as they both play a crucial role in the loan transaction.