FAQ

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What courses do I need to be a Mortgage Associate?

There is currently only one licensing program that you are required to complete if you are wishing to become a licensed Mortgage Associate in Alberta. That is the Mortgage Associates Program (MAP). MAP consists of two mandatory courses:

Learners need to complete the Fundamentals Course and achieve a passing grade of 70% on the respective Provincial Qualifying Exam in order to enrol in the second half of the MAP program, that is, the Practice Course.

Once learners complete the Practice course and achieve a passing grade of 70% on the respective Provincial Qualifying Exam, they are eligible for mortgage associate licensing in Alberta.

How much is the course and where do I pay?

The Practice of Mortgage Brokerage Course costs $800 + $125 (Provincial Qualifying Exam fee). The cost is the same for classoom delivery or online delivery.

For information regarding the Fundamentals of Mortgage Brokerage Course, please contact RECA.

Payment for the in-class program can be made at the time of registration at the applicable college (Grant MacEwan or Mt. Royal College).

Payment for the online program can be made online, after logging into the training site. Visa, Mastercard, Amex and PayPal are accepted forms of payment.

When and where can I take the exam?

In-class students:

Learners have one year from the day they purchased the Fundamentals Course to complete the all coursework, both exams and re-writes, if necessary. In other words, learners have one year to complete both courses (i.e, Fundamentals and Practice course and respective exams).

Keep in mind that most exam centres do not offer daily exam dates. Therefore, it is strongly recommended that you do not wait until the very end of your program time to book an exam date.

To be eligible to write the exam, you must have a minimum of 70% attendance rate. If this attendance requirement has not been met, and you wish to pursue a career in the mortgage industry, you will need to re-take the course.

Online students:

Learners have one year from the day they purchased the Fundamentals Course to complete the all coursework, both exams and re-writes, if necessary. In other words, learners have one year to complete both courses (i.e, Fundamentals and Practice course and respective exams).

Keep in mind that most exam centres do not offer daily exam dates. Therefore, it is strongly recommended that you do not wait until the very end of your program time to book an exam date.

To be eligible to write the exam, you must achieve a minimum grade of 70% on each of the chapter review quizzes. You may attempt these chapter review quizzes as many times as necessary to achieve a passing grade.

Exam Centres:

Contact one of the conveniently located exam centres in Alberta directly to find out about exam dates.

I need an extension to finish my program/exam.

Course extensions are NOT granted, unless very extenuating circumstances exist.

What do I need for the exam?

You will need bring the following items with you to the exam centre to be permitted to write at that time:

All other materials will be provided for you, including the relevant pages from the Mortgage Tables (Brown Book) and Insurance Premium Rates, as well as scrap paper.

Mortgage Tables and Insurance Premium Rates will be available as a PDF on the exam website. If you would like hard-copies for use during the exam, contact the applicable exam centre to make sure they have hard-copies on hand. Hard-copies must be returned to the exam centre upon completion of the exam.

Who do I ask if I have questions about course content?

AMBA provides supports for both course content and technological issues for all Mortgage Associate Program students.

Please contact the AMBA office for content and/or tech support.

I've completed the course. Now what?

Now that you have successfully completed the course and exam, you need to find a brokerage to work under to get your license. The Real Estate Council of Alberta (RECA) is the licensing body for the mortgage industry in Alberta. They will require criminal record checks for your Mortgage Associate licensing.

If your criminal record checks have not yet arrived at the RECA office, and you wish to begin working with your brokerage, you may apply to RECA to begin working before the documents are fully processed at RECA. You will need to submit proof that the criminal record check process has begun. Keep all your receipts in case RECA requests to see them.

How can I find a brokerage to work under?

There are a number of ways to research brokerages to find out which brokerage would be a best fit with your skills, preferences and needs.

AMBA Industry Night

This is an excellent event for student, potential students and recent graduates of the MAP program to meet and talk to a variety of brokerages in one place. AMBA offers this event several times per year at Mt. Royal College in Calgary and Grant MacEwan College in Edmonton (Edmonton dates to be confirmed).

Industry Night is a free event for students where brokerages, who are often looking to add to their team, set up information booths with company representatives to discuss the offerings and philosophies of their company.

Students may bring resumes and be prepared for impromptu interviews, or may merely use the event as a fact-finding exercise to find out more about the mortgage industry, the brokerage and any other questions/concerns.

Students are welcome to attend the free information seminars which accompany Industry Night. These are informative, relevant, practical information sessions designed to help the student or new graduate adjust to and understand the current mortgage industry and trends better.

Other Ways to Research Brokerages

(1) AMBA Seminars and Events. AMBA hosts many networking events such as the AMBA Christmas and Spring Luncheons, Curling Bonspeil, Annual Conference, Trade Show and Golf Tournament, as well as courses, seminars and programs. These are an excellent venue for networking and meeting the active participants in the mortgage industry.

(2) AMBA Website (www.amba.ca). There is a host of valuable information on the AMBA website regarding industry awards and award winners, sponsors and other industry news. This is an excellent research tool to find out more about brokerages who are active in the community and large contributors to the industry.

(2) Yellow Pages. Most brokers are very approachable and open to speaking with new graduates. Don't hesitate to go through the phone book and identify some brokerages of interest to you. If a broker agrees to meet with you, be professional, be knowledgeable and be prepared. Brokers are often very busy and will appreciate a well-prepared and efficient interview with a potential new team member.

(3) Referrals. Friends, family, collegeagues are an excellent source of information. The may have had experience with a particular brokerage house which may be of interest to you. The service of that particular brokerage that your referral appreciates may be something you want to learn more about, contribute to and be associate with as a mortgage associate.

Can I get a refund on the course?

If you registered for the classroom format of MAP (i.e.: you registered to take the course at Grant MacEwan or Mt. Royal College), any refund for the course fee will be in accordance with the respective college's refund policy.

Contact the college to request a refund.

If you registered for the online format of MAP, you may be eligible for a *partial refund if:

*All refunds are subject to a $150.00 administration fee.