The Mortgage Brokerage in British Columbia course is the only course specifically designed to satisfy the minimum educational requirements to become registered with the Financial Institutions Commission (FICOM) Registrar of Mortgage Brokers as sub-mortgage broker in British Columbia. The course develops a thorough understanding of mortgage financing fundamentals and techniques that will enable you to handle complex mortgage problems. For detailed course content information, please view the Table of Contents and the Course Regulations.
This blended learning course allows you to register at any time. While the course is flexible in order to meet the needs of busy adult learners, it provides just enough structure to ensure high quality learning (for example, in order to provide for a minimum level of familiarity with the curriculum and for a reasonable expectation of success on the final examination, assignments may be submitted on a pace that is no greater than 2 assignments per week beginning on the Course Registration Date). You must complete all course assignments within one year of registration in the course and also pass a final examination. Regularly scheduled exams take place at various times throughout the year throughout the province (exams must be written in Canada) and your first registration is included with the course tuition fee. You may also choose to take your exam at the computerized exam centre (CEC) at UBC for an additional fee.
Pre-requisites & English Language Proficiency Requirement (ELPR)
English is the language of contracts in British Columbia and the language of instruction in the Real Estate Division's courses. In order to ensure that registrants are competent to communicate in English, with other registrants and consumers, a language proficiency requirement has been required by the Financial Institutions Commission of British Columbia since 1994. While there are no pre-requisites to register in the course, the ELPR must be satisfied before you can register for an exam. For more information on ELPR exemptions or the LPI examination, view How to Satisfy the English Language Proficiency Requirement. Students should also note that all of the Real Estate Division’s courses have some level of mathematical calculations required. This course has material that contains detailed financial calculations which require a financial calculator.
After the Course
Completing the Mortgage Brokerage in British Columbia Course satisfies the minimum educational requirements for registration as a sub-mortgage broker in British Columbia and will qualify you to work for a registered mortgage broker. To apply to become a mortgage broker (with the ability to hire sub-mortgage brokers), you must first be registered as a sub-mortgage broker.
For more information on mortgage broker requirements, please view the Financial Institutions Commission (FICOM)'s Registration Information or contact the FICOM Registrar of Mortgage Brokers at (604) 660-3555.
The following student support services are included
in the course tuition fee:
Tutorial assistance from our course specialists, through a toll-free number and email.
- Face-to-face classroom and online lectures/workshops, designed to assist you in learning the concepts covered in the course manual. Attend optional classroom lectures, or access the video and audio recordings at any time. Classroom lecture series start in January, April and September, and lead up to regularly scheduled exams.
- Online course resources, containing course updates, study materials, schedules, and tutorial information.
You are encouraged to take advantage of the Tutorial Assistance and Classroom Lectures provided with your course rather than spending additional money on external services. Online video and audio tutorials are also included with your course for a number of topics, including the HP 10BII/10BII+ calculator.
It is important to note that the Real Estate Division has no ties with tutorial classes provided by other members or organizations of the real estate industry and does not monitor or check the services they provide. The Real Estate Division cannot be responsible for any information provided by these individuals or companies. External tutorial companies regularly make false claims, such as "only 30% of students pass the exam" or "we'll guarantee that you will pass the exam", so that you will spend your money with them. Remember, there are no guarantees and the Real Estate Division works with all students to provide every opportunity for success.
Accommodation for Students with Disabilities
The Real Estate Division's goal is to ensure fair and consistent treatment of all students, including students with a disability, in accordance with their distinct needs and in a manner consistent with academic principles. UBC Centre for Accessibility works in partnership with the Real Estate Division and provides support on issues of accessibility for people with disabilities. Examination accommodations enable you to demonstrate your knowledge of the course materials in cases where a disability may impact your ability to access exams under standard conditions.
Students who may have an on-going disability or medical condition that requires accommodation must contact UBC Centre for Accessibility by telephone: 604.822.5844 or email: email@example.com at least two months prior to the anticipated examination date. Processing times for examination accommodation will vary so we encourage students to discuss their needs with UBC Centre for Accessibility as soon as possible.
- General Issues
- How do I contact the Real Estate Division?
Phone numbers, fax numbers, email addresses, etc. can
be found at the Contact Us
area of the website.
- When I phone the Real Estate Division about the
licensing courses, should I talk to a specific person?
The Real Estate Division is divided into several
different groups and has staff who specialize in specific areas.
While any Real Estate Division staff member you talk to will do
their best to help you, certain staff members deal with specific
enquiries. If you need help in one of the areas below, please ask
for the appropriate staff person who can help you.
- help with course planning, exemptions, etc - ask to speak to
the Admissions Officer or a Course Representative.
- help with administrative issues, such as course registration,
assignment processing, exam registration - ask to speak to a
Course Representative or Exams Coordinator (specify which course
you are interested in)
- help with course content - ask to speak to a Tutor (either "law" or "non-law")
- If I am coming to the Real Estate Division, how
do I get there and where do I park?
Directions and parking information can be found at the
How To Find Us area of the
- Which licensing course should I take?
To determine which licensing course you should take, read the brief course descriptions on the Licensing Programs webpage. Follow the links for each individual course to find out more.
- English Language Proficiency Requirements
- Is there an English Language Proficiency Requirement for the Mortgages course?
Yes, completion of the Language Proficiency Index
(LPI), or a recognized equivalent, is one of the requirements for
the Mortgages course. For further information on the recognized
equivalents, please view the English Language Proficiency Requirement webpage.
- Does everyone have to satisfy
the English Language Proficiency Requirement?
Mortgages course students must satisfy the English Language Proficiency Requirement.
- What is the purpose of the
Language Proficiency Index (LPI)?
The purpose of the LPI is to provide information
about an individual student's competency in English.
- If I need to write the Language
Proficiency Index (LPI) examination, where can I get information?
Information on the LPI examination can be found on the English Language Proficiency Requirement webpage, in your
course registration package, at LPI's website
or by contacting the LPI office directly at (604) 822-4146.
- If I am seeking exemption
from the English Language Proficiency Requirement, where can I get information?
Information on exemptions from the English Language Proficiency Requirement
requirement can be found on the English Language Proficiency Requirement webpage.
- If I am seeking exemption
from the English Language Proficiency Requirement, where do I send my official
Official copies of transcripts from the educational
institution can be sent directly to the Real Estate Division office.
- Course Assignment Issues
- Do I need
to complete assignments for the licensing courses?
Depending on the course, students are required
to submit and pass either multiple choice or multiple choice and written assignments in order
to be eligible to register for the final exam. These assignments ensure
that students are reviewing the course materials and provide feedback
on their level of understanding.
- Why can I only submit 2 assignments per week in this course?
Limiting the frequency of assignments to two assignments per week is a Real Estate Division Licensing Course regulation which is in place for the best interests of both students and the public. This regulation was arrived at after a great deal of consideration and after consultation with the Real Estate Council of British Columbia. A number of factors were taken into account, including the increased volume and complexity of information contained in the licensing courses and also our observations of student completion and success rates. This regulation is intended to provide not only for a minimum level of familiarity with the course materials, but also for a reasonable expectation of success on the course examination. Please see Course Regulation 2.02 (4) and (5) for more information.
- If I don't submit an assignment for a few weeks, what happens?
Only 2 multiple choice assignments may be submitted in a particular week, regardless of how many assignments have been submitted in prior weeks. Written assignments, if applicable, may be submitted at any time before 12 months from the date a student registers for a course regardless of how many multiple choice assignments have been submitted in that week.
- Can I get an exemption from the 2 assignment per week regulation based on my experience, education and commitment to full time studies?
There is no exemption from Course Regulation 2.02 (4). This regulation is intended to provide not only for a minimum level of familiarity with the course materials, but also for a reasonable expectation of success on the course examination. As educators our hope is, of course, that given the importance of a good educational basis for a career in real estate services, most students will wish to engage with the materials to a much greater extent than merely the minimum.
- Examination Issues
- What is the format of the final examination?
The Mortgage Brokerage in British Columbia Examination will be three hours in length and contain 100 questions in a multiple choice format, each worth one mark. All supplemental examinations will be two hours in length and contain 60 questions in a multiple choice format. Inter-provincial examinations will be two hours in length with 50 questions in multiple choice format.
- What is the passing grade on the examination?
Sixty-five (65) percent is a passing grade.
- Why is the passing grade on the examination 65%?
A passing grade sets the minimum level of performance needed to practice in a profession, as determined by the regulatory body. The passing grade needed must be high enough to protect the public but not so high as to unreasonably limit the number of those who wish to practice.
- I read that only about 26% of candidates who write the exam will pass it and the exam is used to limit the number of licensees/registrants in the business? Is this true?
No, this is not true, although extremely low passing grades are sometimes made up and reported by tutorial outfits who are looking for your business. The pass rate for each sitting of the exam varies, however, the majority of students who write the exam will pass. The UBC Real Estate Division, the Real Estate Council of British Columbia and the Financial Institutions Commission of British Columbia do not try to limit the number of students who pass the exam - they are only concerned with the fact that those who do pass the exam have the prerequisite knowledge to be likely to not harm the public.
If you do not see your question listed here, please contact us
Individuals who are currently licensed with the Real Estate Council of British Columbia or who have completed real estate services education from the Sauder School of Business within the past year may enroll directly in the Mortgage Brokerage Supplemental Course. Individuals who have been licensed with the Real Estate Council of British Columbia for at least three out of the last five years must receive written confirmation from the Registrar of Mortgage Brokers at the Financial Institutions Commission of British Columbia stating that they are eligible to enrol in the Mortgage Brokerage Supplemental Course prior to their enrolment in the program. Students who are not currently licensed or who have not written a full licensing exam within one year will be required to write the full three hour exam.
Individuals who have successfully completed the Mortgage Brokerage Supplemental Course must apply for registration within one year of writing the examination. This is to ensure that recently qualified applicants build on and solidify their education. However, if an individual has been actively brokering mortgages on behalf on an entity exempt from registration, such as a savings institution, the one-year period may be extended.
The Course Schedule gives you an indication of the topics and lessons which make up the Mortgage Brokerage Supplemental Course.
Tuition for the Supplemental Course is $775.
For more information on mortgage broker requirements or if you are unsure of your status for supplemental course registration, please view the Registration Information or contact the Financial Institutions Commission (FICOM) Registrar of Mortgage Brokers at (604) 660-3395.
In certain cases, individuals may be permitted by the Registrar of Mortgage Brokers to challenge the Mortgages Course. If you are currently licensed and wish to add a service to your licence, you are required to complete the Supplemental Course and Examination.
The Challenge Package assists students who have received permission to challenge the examination. The Challenge Package includes the course materials (such as the course manual, student handbook, study guide and course workbook), access to the Course Resources webpage and the central tutor support service.
- Read the Challenge Package and Examination Information
- Download and submit the Challenge Package Registration Form
Please note that as an alternative to purchasing the Challenge Package, you can purchase some course materials individually from the Bookstore; however, the course workbook, student handbook, and access to the Course Resources webpage are only available with the Challenge Package.
If the Registrar of Mortgage Brokers has provided you with a written confirmation of an exemption to challenge the course by writing the examination only, and you wish to register for the next regularly scheduled examination or at the CEC without purchasing a Challenge Package, you should:
- Read the Challenge Package and Examination Information
- Download the Challenge Examination Registration Form
DO NOT download the challenge exam registration form if you are currently registered in the Mortgage Brokerage in British Columbia Course.
Inter-Provincial and BC Procedures Candidates
Visit the Mortgage Brokerage Inter-Provincial and BC Procedures webpage for more information.
Tuition and Registration
Mortgage Brokerage in British Columbia Course: $1,150 Register Now
Mortgage Brokerage in British Columbia Supplemental Course: $775 Register Now
Visa, Mastercard, Certified Cheque, and Money Order only. Cash and personal cheques are not accepted.
WHAT'S INCLUDED: Your tuition fee includes all of the appropriate course materials (e.g., manual, workbook, and handbook - usually dispatched via courier within three to five business days of registration), access to student support services (e.g., classroom lectures, online video and audio presentations), and your first examination registration provided it is on a regularly scheduled examination date. Calculators are sold separately.
Please note that tuition fees are subject to change and a minimum withdrawal reduction of $200 will apply once your registration has been processed. No refund of course fees will be available unless a withdrawal request is received by our office within one month of your registration date.
Calculator and Computer Requirement
In addition to the materials and resources provided with your course tuition, you'll need a financial calculator (the Hewlett Packard (HP) 10BII/10BII+ calculator is used in the course materials), a computer, internet access and an email address. You may use any financial calculator for the course and exam, providing it is silent, cordless, handheld and not alphanumeric and programmable. You can purchase the HP10BII+ calculator online at the Real Estate Division Bookstore or have one included in your course package when you register online.