Overview
Course Overview
The Mortgage Brokerage in British Columbia course is the only course specifically designed to satisfy the minimum educational requirements to become registered with the BC Financial Services Authority (BCFSA) 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) or you may choose to take your exam at the computerized exam centre (CEC) at UBC (additional exam fees apply).
Quick Course Info
- Blended learning course with support
- One year to complete assignments
- Final exam required
- Tutor service and lectures included
- Tuition: $1,450
What's Included
- Course manual eBook and all of the appropriate course materials in electronic format (e.g., assignments and Practice Questions)
- Course Resources website
- Tutor service by phone and email
- Live Zoom lectures and workshops
- Recorded video and audio lectures
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 BC Financial Services Authority. While there are no pre-requisites to register in the course, the ELPR must be satisfied before you can register for an exam.
The ELPR may only be satisfied by achieving a level 7 or higher on each of the four components (reading, writing, speaking and listening) of the Canadian English Language Proficiency Index Program - General (CELPIP-G) test or by being exempted from the requirement in one of the following ways:
- Graduation from a recognized university Bachelor's degree or higher degree program at an accredited university, college or technical institute at which English is the primary language of instruction.
- Registered or licensed in another jurisdiction in Canada and have satisfied that jurisdiction’s language requirements.
For more information on ELPR exemptions or the CELPIP-G 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 BC Financial Services Authority (BCFSA)'s Registration Information or contact the BCFSA Registrar of Mortgage Brokers at +1 604.660.3555.
Accessibility
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: +1 604.822.5844 or email: accessibility@ubc.ca.
Examination accommodation must be approved by the Centre for Accessibility, and an accommodation letter must be received by the Real Estate Division prior to examination registration. As well, registration must be received by the Real Estate Division no later than six weeks prior to the examination date.
Student Support
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.
- Online lectures/workshops, designed to assist you in learning the concepts covered in the course manual eBook. Attend optional live Zoom lectures/workshops, or access the video and audio recordings at any time.
- Online course resources, containing course updates, study materials, schedules, and tutorial information.
External Tutors
You are encouraged to take advantage of the Tutorial Assistance and Online Lectures/Workshops provided with your course rather than spending additional money on external services. Attend optional live Zoom lectures/workshops, or access the video and audio recordings at any time.
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.
Frequently Asked Questions
General Issues
-
Phone numbers, fax numbers, email addresses, etc. can be found at the Contact Us area of the website.
-
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")
-
Directions and parking information can be found at the How To Find Us area of the website.
-
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
-
Yes, completion of the Canadian English Language Proficiency Index Program - General (CELPIP-G) test, 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.
-
Mortgages course students must satisfy the English Language Proficiency Requirement.
-
The purpose of the ELPR is to provide information about an individual student's competency in English.
-
Information on the CELPIP-G test can be found on CELPIP's website.
-
Information on exemptions from the English Language Proficiency Requirement can be found on the English Language Proficiency Requirement webpage.
-
Official copies of transcripts from the educational institution can be sent directly to the Real Estate Division office.
Course Assignment Issues
-
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.
-
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 regulatory body. 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.
-
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.
-
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
-
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.
-
Sixty-five (65) percent is a passing grade.
-
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.
-
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 and BC Financial Services Authority 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.
Supplemental
Supplemental Course
Individuals who are currently licensed with the BC Financial Services Authority 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 BC Financial Services Authority for at least three out of the last five years must receive written confirmation from the Registrar of Mortgage Brokers at the BC Financial Services Authority 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 passed 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 of 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 $975.
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 BC Financial Services Authority (BCFSA) Registrar of Mortgage Brokers at +1 604.660.3555.
Exemptions & Challenge
In certain cases, individuals may be permitted by the BC Financial Services Authority (BCFSA) 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.
Challenge Package
The Challenge Package assists students who have received permission to challenge the examination. The Challenge Package includes the course materials in electronic format only (such as the course manual eBook, online assignments and answers, online Practice Questions), 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 online assignments and answers, online Practice Questions, student handbook, and access to the Course Resources webpage are only available with the Challenge Package.
Exemptions
If the BC Financial Services (BCFSA) 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.
Register
Tuition and Registration
What's Included
Your tuition fee includes all of the appropriate course materials in electronic format only (e.g., course manual eBook), access to the Course Resources website, and student support services (e.g., live zoom lectures, online video and audio presentations). Hardcover manuals and 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.
Hardcover Manual
The Sauder School of Business and the Real Estate Division are committed to sustainability. By using the eBook or PDF version of the course manual that are included with your registration, you will help us with our initiative and save approximately 700 printed pages.
However, we understand that everyone learns differently. If necessary, you can purchase a hardcover manual for an additional $200.00. If you are undecided, you can purchase a hardcover manual from the RED Bookstore at a later date. No Refunds are available after purchase.
Calculator and Calculator App
Due to ongoing global supply chain issues and chip shortages, there is currently a shortage of HP10Bii+ calculators.
Students who plan to write their examination at the UBC Computerized Examination Centre (CEC), or on a regularly scheduled exam date at our Vancouver or Langley centres should download the 10bii calculator app from In a Day Development to use during the course. If you plan to write your exam in the Lower Mainland, you DO NOT need to purchase a calculator. You may request use of an iPad or tablet with the 10bii app for your examination.
If you choose to write your examination on a regularly scheduled examination date outside of the Lower Mainland (at a location other than Vancouver or Langley), you will need a physical calculator for your exam. The calculator we recommend is the Hewlett Packard 10Bii+ calculator. There are many used calculators for sale on Facebook Marketplace, Craigslist and other Buy/Sell websites, along with other vendors who sell the calculator, and we encourage you to explore these options. If necessary, you can also purchase the calculator from the RED Bookstore for $112 ($100 plus $12 tax). No refunds are available after purchase and supply is limited.
If you are unsure as to which exam option you will choose, consider delaying the purchase of a calculator and in the meantime, download the calculator app for use during the course.
-
Have a question?
Our team is happy to help.