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MORTGAGE ASSOCIATES PROGRAM


TABLE OF CONTENTS STUDENT HANDBOOK Criminal Record Check.............................................................................. 4 Attendance Requirements.......................................................................... 8 Refunds......................................................................................................... 8 Preparing for the Provincial Qualifying Exam....................................... 9 Breakdown of Exam Questions................................................................. 9 Taking the Provincial Qualifying Exam................................................ 10 Exam Authorization Form........................................................................ 11 What if I Don’t Pass?.................................................................................. 11 Getting Started in the Industry............................................................... 12 Membership with AMBA......................................................................... 13 Contacts....................................................................................................... 14 AMBA Application Form.......................................................................... 16


About us... The Alberta Mortgage Brokers Association (AMBA) is an independent, non-profit organization dedicated to highly ethical business principles and to keeping the industry at a high level of integrity and professionalism. It is our goal to continually raise the standards within the mortgage industry and consistently promote trust, integrity, professionalism & knowledge.


CRIMINAL RECORD CHECK Criminal Record Checks should be forwarded to RECA for licensing purposes upon successful completion of the Mortgage Associates Program & Provincial Qualifying Exam. Information provided here is for a general overview of the Criminal Record Check process. For more information, please visit www.reca.ca.

Why do I need one? As the regulator, RECA has a responsibility to verify the identity and background information of individuals who apply for a licence to ensure only competent, ethical practitioners are licensed. Those who apply for a licence consent to the collection of a certified criminal record check (*CCRC) by RECA. *NOTE:

 CCRC is a “certified” fingerprint-based criminal record search for non-criminal A purposes conducted by the Royal Canadian Mounted Police (RCMP) in Ottawa, where fingerprints are compared against the central repository of Canadian criminal records held by the RCMP.

RECA uses CCRC information only for the purpose of determining suitability for licensing under the Real Estate Act. The CCRC is held in confidence by RECA and is not disclosed to other parties. Once you are eligible for licensing, make an application for licensing and registration with a licensed brokerage. Do not send an application for licensing and registration along with your criminal record documentation. A brokerage must process your application. If you are a first-time applicant in Alberta or as a previous industry member who has not been registered with a brokerage any time in the past year, you must provide to RECA a current (dated within the last 6 months) original certified criminal record check in your legal name in a form and manner prescribed by the executive director. If you are applying from outside of Canada, please contact a RECA information officer for further information on the criminal record check requirement. A CCRC can take up to six months to process depending how you submit your fingerprints and whether or not you have a criminal record; this can delay approval of your authorization with RECA. To improve the efficiency of providing the CCRC to RECA, you may opt to submit a “Third Party Waiver of Consent,” which authorizes the RCMP to release your CCRC directly to RECA. Your fingerprints are not retained by RECA, private fingerprinting firms, the local police or the RCMP.



AMBA Student Handbook


How do I apply for a certified criminal record check? Electronic Fingerprint Submissions: Step 1.

Go to an accredited private fingerprinting agency, such as:

• Canadian Corps of Commissionaires (offices located in Lethbridge, Red Deer, Edmonton and Calgary). • International Fingerprinting Services Canada (offices located in Edmonton and Calgary). The agency will complete and submit your fingerprints to the RCMP electronically on your behalf.

Note: F  ees for electronic fingerprint submission vary and must be paid by the applicant at the time services are performed.

Step 2. Retain a copy of the NIST form, which is the receipt of your electronic fingerprint submission. Step 3 Complete a “Third Party Waiver of Consent” form at the agency, which (optional). authorizes the RCMP in Ottawa to send your CCRC directly to RECA. If you do not complete a Third Party Waiver of Consent, you must forward your CCRC to RECA once you receive it. Paper-based fingerprint submissions: Step 1. Go to your local police station or RCMP detachment to obtain a full set of fingerprints using Form C-216C.

Note: Feesfor fingerprinting vary and must be paid by the applicant at the time services are performed.

Step 2 Complete a “Third Party Waiver of Consent” form, which authorizes the (optional). RCMP in Ottawa to send your CCRC directly to RECA. If you do not complete a Third Party Waiver of Consent, you must forward your CCRC to RECA once you receive it. Step 3. Photocopy the completed Form C-216C (fingerprint form) and retain it. Step 4. Send the original completed Form C-216C, completed “Third Party Waiver of Consent” form (optional) and $25 processing fee by certified cheque or money order payable to the Receiver General for Canada, to one of the addresses on the following page:

Toll Free: 1 . 888 . 452 .2652 Website: www.amba.ca




By Mail:

The Director Canadian Criminal Real Time Identification Services RCMP, NPS Building 1200 Vanier Parkway Ottawa, ON K1A 0R1

By Courier:

The Director Canadian Criminal Real Time Identification Services RCMP, NPS Building, Loading Dock #1 1200 Vanier Parkway Ottawa, ON K1A 0R1

NOTE: Retain a copy of your postal receipt or courier slip.

Can I start working as a mortgage associate if I don’t have the criminal record check yet? If you submitted your fingerprints to the RCMP electronically, and have met all other requirements, and wish to apply for licence and registration prior to receiving your CCRC, you must provide RECA with the following documentation: • An original copy of a criminal record check based on your name and date of birth, which you can obtain from your local police department. This document is completely separate from a CCRC; and, • A copy of the receipt of your electronic fingerprint submission (NIST form). If you submitted your fingerprints to the RCMP in a paper-based format and have met all other requirements and wish to apply for licence and registration prior to receiving your CCRC, you must provide RECA with the following documentation: • An original copy of a criminal record check based on your name and date of birth, which you can obtain from your local police department. This document is completely separate from a CCRC; • A copy of your fingerprints (completed Form C-216C); and, • Proof you have sent your Form C-216C to the RCMP Civil Fingerprint Screening Services in Ottawa, such as a postal receipt or courier slip.



AMBA Student Handbook


In the event that RECA grants you an authorization prior to receipt of a CCRC, that authorization will be issued on the condition that your CCRC be provided to RECA within a specified time period. Failure to meet this condition may result in suspension or cancellation of your licence.

What if I have a criminal record? Each applicant with a criminal record is evaluated on his or her own merits and having a criminal record does not necessarily disqualify an individual from being authorized. When a criminal record exists, RECA requires additional documentation. After review of the information provided, the executive director will determine the individual’s suitability for licensing.

Who do I contact if I have more questions? RCMP http://www.rcmp-grc.gc.ca/crimrec/finger2_e.htm Real Estate Council of Alberta Suite 350, 4954 Richard Rd SW Calgary, Alberta, T3E 6L1 Phone: 403-228-2954 or (toll Free in Alberta) 1-888-425-2754 Fax: 403-228-3065 Email: info@reca.ca Hours: 8:30 AM - 5 PM, Monday to Friday Website: www.reca.ca

Toll Free: 1 . 888 . 452 .2652 Website: www.amba.ca




ATTENDANCE REQUIREMENTS Learners registered in the Mortgage Associates Program (MAP) at Mount Royal College or Grant MacEwan College must fulfil a RECA attendance requirement in order to be eligible to write the Provincial Qualifying Exam (PQE). A minimum of 70% attendance is required to be eligible. If you foresee that you will need to miss more than 30% of the classes for a valid reason, you may submit by email or telephone your request to AMBA for assessment. Submission of a request does not guarantee an exemption from the attendance requirement. If you have missed 2 or 3 of the classes for a valid reason, and you did not submit a request to AMBA, you may be permitted to make up some of the classes to achieve the 70% attendance requirement. Note that a valid reason for the absences must be provided in order to be permitted to make up classes. Contact Mt. Royal College to make up classes. In Edmonton, contact Grant MacEwan College to see if and when make-up classes are available. If you have missed more than 30% of the classes and have not made arrangements for make-up classes or exemption, you will not be eligible to write the PQE and will be required to re-take the MAP program to become a licensed mortgage associate in Alberta. Upon successful completion of the course and final exam, a Certificate of Completion will be emailed or mailed to the learner upon request. Contact the AMBA office for a Certificate of Completion.

Refunds In-class MAP: Contact the college for information regarding their refund policies. Online MAP: If the training site has not been opened (ie: you have not entered the training site), a refund less $50 administrative fee will be available.



AMBA Student Handbook


PREPARING FOR THE PQE Learners will be provided with a practice test of 60 questions on the last day of the program. The instructor will review the exam with the class and address any questions or concerns regarding the exam. We encourage learners to form study groups at their own convenience to discuss problems, questions or issues they may have as a method of test preparation.

Provincial Qualifying Exam - Breakdown of Questions Chapter 1

The Mortgage Associate

8 questions

Chapter 2

Introduction to Real Estate

4 questions

Chapter 3

Real Estate Act and Rules

15 questions

Chapter 4

Legislation and Land Law

6 questions

Chapter 5

The Mortgage Document

3 questions

Chapter 6

Types of Mortgages

9 questions

Chapter 7

Private, Hi-Ratio Mortgage Insurance

3 questions

Chapter 8

Mortgage Funds

2 questions

Chapter 9

Automated Mortgage Insurance

3 questions

Chapter 10

Credit Bureaus

4 questions

Chapter 11

Title Insurance

3 questions

Chapter 12

Mortgage Qualifying

21 questions

Chapter 13

Detecting Fraud

2 questions

Chapter 14

Valuation

9 questions

Chapter 15

Mortgage Mathematics

20 questions

Chapter 16

Mortgage Application Software

No questions

Chapter 17

Marketing, Advertising and Sales

3 questions

Chapter 18

Business Ethics

5 questions

Toll Free: 1 . 888 . 452 .2652 Website: www.amba.ca




TAKING THE PQE Successful completion of the PQE is required to be eligible for licensing by RECA. Here is some general information about the test itself:     

120 questions 3 hours Online Randomized questions Must be taken at approved test centre

What do I need to pass? A grade of 70% or better is necessary for successful completion of the PQE.

How much is it? The PQE costs $125 (+GST) and is payable at the time of writing. It will be an online purchase and therefore will require a credit card. Please note: Visa, MasterCard, are accepted as methods of payment. AMEX and PayPal are available at some exam centres.

When can I write it? Students have up to 12 months from enrolment to complete the program, which includes completing the PQE, and if necessary, the re-write.

Where do I write it? Visit www.amba.ca for a list of exam centres if you are not able to attend the scheduled exam date set for your class by the college. You may also choose another exam date offered by the college.

What can I bring to the exam? Learners may bring a non-programmable calculator to their exam area. They may also bring bottled water. Everything else required for test-taking such as pencils, scrap paper, Brown Book (mortgage tables), etc will be provided by the exam centre. Note: TheCanadian Qualifier Plus or any other mortgage calculators are not permitted to be used for the PQE.

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AMBA Student Handbook


The items you should bring to the exam are:  Exam Authorization Form  Photo ID  Non-programmable calculator

 Recent passport photo (taken within 6 months)  Visa, MasterCard (AMEX and PayPal are available at some exam centres)  Optional: bottled water

During the exam Learners may take a bathroom break during the exam if necessary. However, no electronic devices, books or cell phones may be taken. Also, there is no way to pause the time during the exam for a bathroom break. Therefore, time on the exam will continue to count down. If evidence of academic misconduct is found (ie: talking, cheating, leaving room with cell phone, electronic device or book), the Proctor has the right to close the exam.

What is the Exam Authorization Form? This form will state the user ID and password which will grant you access into the online PQE. A representative from the college will hand out these forms to you on the last day of class. If attendance requirements have been fulfilled, the college will electronically enable your user ID and password and you will then be able to write the exam.

What if I don’t pass? Students are permitted one re-write of the exam. Students will be automatically authorized for a re-write 48 hours after the first sitting of the exam if they are unsuccessful at their first attempt at the exam. Access to the re-write exam will require:  E  xam Authorization Form (this will be the same form with the same user ID and password as was one the first EAF)  Passport photo  Photo ID  Visa, MasterCard (AMEX and PayPal are available at some exam centres) If the second attempt at the PQE is unsuccessful, it will be necessary to re-enrol in the MAP program.

Toll Free: 1 . 888 . 452 .2652 Website: www.amba.ca

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GETTING STARTED IN THE INDUSTRY Once you have successfully completed the PQE, you need to join a licensed brokerage who will apply for your mortgage associates license on your behalf. You have one year after successful completion of the PQE to find a brokerage to work under in order to still be eligible for licensing as a mortgage associate. If you exceed this time frame, contact RECA for more information on how to proceed. You may be required to retake the licensing program to be legally permitted to deal in mortgages in Alberta. AMBA, in conjunction with the colleges, offers a networking event called Industry Night several times throughout the year. These events are designed to put students and graduates of the MAP program in touch with a variety of brokerages. Learners can bring their resumes and talk to the different brokerages to get an idea of what different brokerages offer. These events are free for students and graduates, and are on a drop-in basis. Visit www.amba.ca for Industry Night dates and locations. Another method of finding a brokerage is visit brokerage houses in your neighbourhood or in an area of interest. Talk to the broker of record and let them know what you can offer, as well as finding out what the brokerage offers. Although usually very busy, most brokers are more than happy to spend a few minutes with a new associate who may have potential as a new team member. You may want to find out from brokers or other associates which brokerage houses take on new graduates and which require more industry experience before hiring. Industry Night and other AMBA networking events are excellent arenas for this type of research.

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AMBA Student Handbook


MEMBERSHIP WITH AMBA AMBA is a non-profit, provincial organization which strives to consistently raise the standards of professionalism, integrity and knowledge in the industry. They are the voice of the industry in matters of legislative change and act as a vehicle for industry members to let their opinions be known to the regulatory body of the industry. Recent and ongoing AMBA projects include:  L  aunching a province-wide consumer awareness campaign in 2008, which included: TV, newspaper, radio coverage and road-side marketing to help consumers understand the benefits of using a mortgage associate.  L  aunching an online delivery format of the licensing program to make it more accessible to learners across the province and to provide a more effective learning environment than what was previously available.  M  oving the MAP program in Edmonton to Grant MacEwan College - an accredited, structured learning institution which provides solid educational infrastructure, an effective learning environment and added credibility and validation to our learners in Edmonton.  A  dding to the list of value-added services to our members, such as discounted rates for E & O Insurance, personal insurance, etc.  L  aunching a seasonal seminar series to provide the industry with relevant, practical and the latest information to help members succeed in their jobs.  O  ffering networking and socializing events such as luncheons, bonspiels, and the Annual Conference and Golf Tournament.  For more information about AMBA, please visit: www.amba.ca. Graduates of the MAP program receive one year of membership free of charge, granted that their brokerages are members with AMBA. Please complete the attached form and fax to AMBA to take advantage of this one-year membership.

Toll Free: 1 . 888 . 452 .2652 Website: www.amba.ca

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CONTACTS Alberta Mortgage Brokers Association (AMBA) Suite 207, 4954 Richard Road SW Calgary, AB T3E 6L1 Tel: 403-685-9652 or 1-888-452-2652 Fax: 403-685-9682 Web: www.amba.ca Email: jlee@amba.ca Mount Royal College Lincoln Park Campus Room EB 3101 Bissett School of Business Building (East side of campus) 4825 Mount Royal Gate S.W. Tel: 403-440-7707 or 1-888-392-3655 Web: http://conted.mtroyal.ca/realestate/mortgage.shtml Email: cebusiness@mtroyal.ca Grant MacEwan College P.O. Box 1796 Edmonton, AB T5J 2P2 Phone: 780-497-5040 Fax: 780-497-5001 or 1-888-497-4622 Web: http://www.gmcc.ab.ca/web/home/DetailsPage.cfm?ID=239 Real Estate Council of Alberta (RECA) Suite 350, 4954 Richard Rd SW Calgary, Alberta T3E 6L1 Phone: 403-228-2954 or (toll free in Alberta) 1-888-425-2754 Fax: (403) 228-3065 Web: www.reca.ca Email: info@reca.ca

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AMBA Student Handbook


Alberta Mortgage Brokers Association P. 403-685-9652 / 1-888-452-2652 F. 403-685-9682 207, 4954 Richard Road SW, Calgary AB T3E 6L1 email: info@amba.ca web: www.amba.ca

Dear Student, RE: Alberta Mortgage Brokers Association (AMBA) Congratulations on your decision to enrol in the Mortgage Associates Program (MAP). You are embarking on the first step to becoming a licensed Mortgage Associate in Alberta and it is at this time that I would like to introduce you to the provincial association. The Alberta Mortgage Brokers Association (AMBA) is an independent, non-profit organization dedicated to highly ethical business principles and to keeping the industry at a superior level of integrity and professionalism. AMBA was formed in 1975 and has since been instrumental in supporting the brokers and associates throughout the province. In fact, AMBA has spent many years assisting in the development and delivery of the course you are currently enrolled in. The association also provides liaison to the Real Estate Council of Alberta (RECA) and therefore supports your voice with the provincial government and regulatory authorities. You are eligible to become an AMBA member after you successfully complete the Mortgage Associates Program and are licensed and registered to a mortgage brokerage. If your broker is an AMBA member, simply complete the attached application for your FREE first year membership. If your broker is not a member, encourage him or her to become one to take advantage of membership in an association dedicated to maintaining professional standards in the mortgage industry. If you have any questions or concerns regarding the association or its membership, please do not hesitate to contact the AMBA office at the number listed above. Good luck with your provincial qualifying exam.

Judy Martin Executive Director Alberta Mortgage Brokers Association


APPLICATION FORM FOR FIRST YEAR MEMBERSHIP

After you successfully complete the Mortgage Associates Program, are employed by a mortgage brokerage in Alberta and authorized by RECA, you are entitled to a free first-year membership with AMBA if you apply for membership within 1 (one) year of graduating. Our membership period is the same as the calendar year. Please complete the application and submit it to AMBA by mail, fax or e-mail.

Individual – Active Membership

a) I am applying as a Licensed Associate

Please print clearly b) The Brokerage I am working with is:

Brokerage is AMBA Member

Brokerage is Non-Member

Applicant Name

Address

City

Telephone

Province

Postal Code

Fax

Date Completed Mortgage Associates Program

Email

Where did you complete the program? Calgary

Edmonton

Independent Study

I agree to the professional standards of practice by adhering to AMBA’s Code of Ethics & Bylaws. Documents can be reviewed at www.amba.ca. I understand and agree to have my contact information displayed on AMBA’s website which is available to the public. I understand and agree to have my contact information published in the annual membership directory for the purpose of business only.

Print Name

Brokerage

Signature

Date


Student Handbook