Alberta Mortgage Associate study guide
Alberta Mortgage Associate · Work through your exam, one topic at a time.
The Alberta Mortgage Associate credential is a licence category administered within Alberta's real estate industry regulatory framework by the Real Estate Council of Alberta (RECA). RECA describes itself as Alberta's real estate regulator and states that it sets and enforces professional standards for real estate (rural, residential, property management, commercial), mortgage, and condominium management, helping licensees understand their obligations, manage risk, and practice with confidence. The Alberta Mortgage Associate study guide has 4 sections and about 1,515 words.
01Mortgage Brokerage Practice: File Flow, Disclosure, and Deal Management
Mortgage brokerage practice is about running a compliant, well-documented transaction from first contact to funding. Candidates must know the sequence: collect and verify the borrower's information (income, down payment source, credit, liabilities, property details), assess suitability for the requested product, submit to lenders, present options, obtain instructions, and maintain the file so a third party could reconstruct every decision.
399 words, about 2 min02Mortgage Products and Lending: Matching Terms to Borrower Circumstances
Lending questions test whether you can match a borrower's circumstances to a product and explain the trade-offs. You should be comfortable with the main axes: open versus closed terms, fixed versus variable rates, term versus amortization, high-ratio versus conventional lending, and residential versus alternative or private lending.
404 words, about 2 min03Legislation and Regulation: The Rules That Govern the File
Mortgage brokerage in Alberta operates under provincial legislation and the rules of the regulator, alongside federal requirements. Candidates should be able to name the categories of obligation and explain why each exists: licensing, conduct, disclosure, anti-money laundering, and privacy.
358 words, about 2 min04Professional Conduct and Ethics: Judgement Under Pressure
Conduct questions rarely ask you to recite a rule; they ask what a professional should do when interests collide. The core duties are to act in the borrower's best interest, be honest and transparent, protect confidentiality, avoid and disclose conflicts, and maintain competence.
354 words, about 2 min