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Education

Getting Licensed in Quebec

MBQ101 - Mortgage Brokering in Quebec


Mortgage Professionals Canada (MPC) is the proud provider of education required for mortgage broker licensing in the province of Quebec. Completion of the MBQ101 Mortgage Brokering in Quebec program is required in order to be eligible to take the AMF licensing exam.

MBQ101 is available to participants new to the mortgage industry or to those who have no direct experience in mortgage transactions. The duration is nine weeks.

THE PROGRAM

MBQ101 is a self-study program, where participants must complete online modules along with required readings from the AMF manuals. Manuals are provided to students upon registration. Participants are also given a lesson plan to follow.

Participants are required to complete the online modules as well as their first exam attempt within 90 days of registration. Participants should carefully review the Course Policies prior to registration.

The prerequisites for registration are:

  • Be 18 years of age and over;
  • Have at least a secondary 5;
  • Enter your AMF number in your MPC profile.

Participants are strongly encouraged to visit the AMF website to learn about the qualification program and the authorization process and conditions before enrolling in the program.


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IMPORTANT NOTE

The MBQ101 is an intensive training program. It’s recommended that participants set aside 4 to 5 hours of study per day. Do not register if you are unsure whether you can devote the necessary time to complete this program.







MORE INFORMATION

Ensure to read the Course Policies and Learners Code of Conduct prior to registering into the program.

Eligibility Criteria
  
  • The member rebate is reserved for students who have completed the MBQ101 program and who are members of an MPC member brokerage.
  • Students who are part of a member brokerage can only submit the Member Rebate application form after 12 months of continuous membership with the same mortgage brokerage that sponsored their registration into the program.
  • The student's mortgage brokerage must confirm their 12 months of service.
  • The Member Rebate application form must be submitted within 18 months of course registration.
  • The maximum discount for the Member Rebate is $500.

Click here to submit the Member Rebate application form.
 

The MBQ101 Mortgage Brokering in Quebec program provides specific information on Quebec legislation and the Act respecting the distribution of financial products and services (LDPSF). This self-paced learning program teaches the knowledge and skills necessary to fulfill the responsibilities of a broker with integrity and compliance.

Candidates who wish to become mortgage brokers are strongly recommended to commit to completing this program on a full-time basis. Knowledge checks, mathematical calculations, written answers to questions, scenarios and problem solving will allow participants to master the process and demonstrate their abilities for the final exam. The course is based on the two AMF manuals, E-611 Mortgage Brokerage and E-116 Ethics and Professional Practices.

This course covers all the topics, skills and knowledge that will enable you to pass the MPC exam, which is similar in format and content to the AMF exam. Here is the list of modules covered by the program:

  • Module 0 - Navigating the online platform
  • Module 1 – Introduction to mortgage credit
  • Module 2 – Mortgage products and mathematics applied to mortgage credit
  • Module 3 – Mortgage credit process and the role of the mortgage broker
  • Module 4 – The Borrower and Qualification
  • Module 5 – Real estate assets
  • Module 6 – Mortgage Applications, Recommendations and Submissions
  • Module 7 – Facilitating the Closing Process
  • Module 8 – Commercial Mortgages
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    Got a question? Try browsing our FAQ below for help. If your question is still not answered, please call us at 1-888-442-4625 for further assistance!

    1. What is the passing grade for the program?
      Students must achieve 80% on each end-of-module test, and 75% on the final exam.

    2. When will I receive my results?
      Students will receive an email with their exam results within 5 business days of completing their exam. This email is sent to the email address on file provided by the student at the time of enrolment. Results are reported to AMF within 5 business days of a student's course completion.

    3. When will my certificate of completion arrive?
      Once a student have successfully completed their program and final exam, they can download their certificate of completion from their online MPC profile.

    4. When will my AMF manuals arrive?
      Students can download their AMF manuals directly from their emailed receipt immediately upon completing registration.

    5. When can I access the online modules?
      Access to the online modules is available immediately upon completing registration. Students have 90 days from the time they register to complete their online modules and complete their final exam.

    6. What happens if I fail the final exam?
      Students have a maximum of three attempts at the final exam. If a student fails to achieve the minimum passing grade of 75%, they can request to rewrite their exam. There are no fees for the first rewrite. Should a student require to rewrite for a second (and final) time, there is an applicable exam registration fee of $150. Rewrites must be completed within a month of the previous exam attempt. If a student fails all three attempts at the final exam, they must re-enroll into the program in full in order to continue with their studies.

    7. How do I pass the program?
      Students must complete all of the online modules, answers to questions in the modules, as well as the final exam in order to pass the program. Multiple-choice questions are used to assess your knowledge of the material, which is the same method of testing used for the AMF certification exam. Note: online modules must be completed in full in order to be eligible to write the final exam.

    8. How do I request a rewrite for the final exam? How many attempts at the final exam do I get?
      If a student fails their first exam attempt, they will be informed via email with instructions on how to request an exam rewrite. The first rewrite must be completed within one month of the first exam attempt and does not have a fee. The third and final exam attempt costs $150 and must be completed within one month of the student's previous (second) exam attempt.

    9. Can I put my course on hold or transfer it to another person?
      No. Registration cannot be transferred to another person or put on hold. If you are unable to finish your program, consult the Course Policies for details on cancellations.