Quebec AMF Broker study plan
Quebec AMF Broker · Give each week a clear focus.
8 weeks · About 6 hours per week
Mortgage brokerage regulatory framework
Map the AMF's licensing tiers and the legal duties that attach to each, from the Act respecting the distribution of financial products and services
List the core obligations of a mortgage broker under the AMF framework, including registration, supervision, and record-keeping requirements
Identify the principal statutes and regulations that govern mortgage brokerage in Quebec and explain how they interact
Build a one-page reference sheet of the key regulatory terms and their statutory sources
Your checkpoint
A 1-page regulatory framework map linking each AMF obligation to its source statute or regulation, with no more than 10 entries, each verified against an official text.
Mortgage brokerage regulatory framework
Explain the AMF's complaint handling and dispute resolution process from first complaint to final response
Describe the AML/ATF reporting obligations that apply to mortgage brokers and the thresholds that trigger them
Summarize the professional liability and insurance requirements imposed on licensed brokers
Compare the AMF's disciplinary powers with the broker's own duty to self-report material changes
Your checkpoint
A written 10-question self-quiz on compliance and enforcement, with verified answer key and a citation for each answer.
Mortgage products and financing
Distinguish fixed-rate, variable-rate, and hybrid mortgage structures by their payment mechanics and rate-risk exposure
Compare open and closed terms, convertible features, and early payout penalties across lender categories
Calculate amortization schedules and prepayment penalties for at least three loan scenarios
Explain default insurance requirements and the loan-to-value thresholds that trigger them
Your checkpoint
A spreadsheet with three worked amortization and penalty scenarios, each with inputs, formulas, and a short plain-language explanation of the result.
Mortgage products and financing & Client needs analysis and advisory process
Match borrower profiles to suitable product categories using income type, credit history, and down payment source
Explain alternative and private lending products, including their cost structure and exit strategies
Draft a needs-analysis interview script that surfaces income stability, debt service ratios, and time horizon
Compute gross and total debt service ratios for two contrasting borrower profiles
Your checkpoint
A completed needs-analysis template applied to two hypothetical borrower profiles, including GDS/TDS calculations and a product recommendation with stated rationale.
Client needs analysis and advisory process
Structure a full advisory conversation from initial contact to signed commitment, identifying each mandatory disclosure point
Assess affordability using stress-test assumptions and explain the result to a client in plain language
Identify when a referral to a legal, tax, or credit professional is required and document the referral
Produce a written recommendation that satisfies the suitability standard and records the client's instructions
Your checkpoint
A role-played advisory session recorded as a written transcript summary, with each disclosure and suitability check annotated to its regulatory or professional source.
Ethics and professional conduct
Apply the AMF's conflict-of-interest rules to commission structures, referral fees, and lender incentives
Distinguish permissible gifts and hospitality from prohibited inducements under the professional conduct standards
Analyze privacy and confidentiality duties when handling client financial documents and credit reports
Evaluate three short ethical dilemma scenarios and justify each decision against the applicable standard
Your checkpoint
Three written ethical dilemma analyses, each under 300 words, with a decision, the governing standard cited, and the reasoning made explicit.
Ethics and professional conduct & Mortgage brokerage regulatory framework
Audit a sample client file against AMF record-keeping and disclosure requirements and list every deficiency
Explain the broker's duty to act in the client's best interest when it conflicts with lender or firm incentives
Describe the consequences of unprofessional conduct, from AMF warning to licence suspension, with examples
Draft a client complaint response that meets both the conduct standard and the complaint-handling timeline
Your checkpoint
A file audit checklist with 15 items, each traced to a regulatory or conduct source, plus a completed audit of one sample file identifying at least three deficiencies.
Mortgage brokerage regulatory framework & Mortgage products and financing & Client needs analysis and advisory process & Ethics and professional conduct
Synthesize all four domains into a single case study covering a self-employed borrower with a prior consumer proposal
Complete a timed 60-question mixed-domain practice set and score each domain separately
Review every missed question and write a corrected one-sentence rule for each
Build a personal weak-area list with a review schedule for the final week before the exam
Your checkpoint
A full written case-study solution spanning all four domains, plus a scored practice-set log with a per-domain accuracy figure and a prioritized review list.
Milestones
Week 2: Score at least 80% on the week-2 compliance self-quiz and correctly cite the source for every answer.
Week 4: Produce correct GDS/TDS figures for both borrower profiles and defend each product recommendation in writing.
Week 6: Resolve all three ethical dilemmas with a cited standard and no unresolved conflict between decision and reasoning.
Week 8: Score at least 75% overall on the mixed-domain practice set, with no single domain below 65%.