Key takeaways
- →UBC Sauder's current BC exam is 3 hours, 100 multiple-choice questions, with a 65% passing grade; Québec's AMF exams each require 60%; REMIC's Ontario exams range from 60% to 70% depending on the course.
- →Québec allows three rewrites of a failed exam before requiring the candidate to restart the entire qualification process, including retaking the training.
- →Not every provider publishes an exam pass mark or question count — MPC's Ontario Level 1 and Level 2 course pages, for example, don't list exam-format figures, so those specifics should be confirmed directly with the provider rather than assumed.
- →The most effective prep matches the exam's actual format — multiple choice, case-study-based questions, timed sections — rather than generic study habits borrowed from an unrelated kind of test.
A licensing exam feels like a black box until you actually look up how it's structured — and once you do, most provincial exams turn out to be very specific, with fixed time limits, fixed question counts, and a published pass mark. That specificity is useful, because it tells you exactly what to prepare for instead of studying in the dark.
This works through the exam formats that are actually documented on a regulator or provider's own page, what each one tests, and prep tactics that fit the format rather than generic advice.
01 · What do the actual verified exam formats look like?
| Exam | Format | Pass mark | Retake rule |
|---|---|---|---|
| BC — UBC Sauder (current course) | 3 hours, 100 multiple-choice questions, run 3-4 times/year in Canada or at UBC's Computerized Exam Centre | 65% | 2 attempts allowed per course registration |
| Québec — AMF (each of the two required exams) | E-tablet with exam prep manuals provided during the session | 60% per exam | 3 rewrites allowed if failed; a 4th failure means restarting the entire qualification process |
| Ontario — REMIC Mortgage Agent Level 1 | 3 hours, 50 multiple-choice/case-study questions | 60% (30/50) | 2 attempts (1st free, 2nd paid) |
| Ontario — REMIC Private Mortgage Course (Level 2) | 3 hours, 50 multiple-choice/case-study questions | 70% (35/50) | 2 attempts (1st free, 2nd paid) |
| Ontario — REMIC Mortgage Broker Course | 3 hours, 100 multiple-choice questions | 60% (60/100) | 2 attempts; $25 rewrite fee on the second attempt |
REMIC's own pages don't always reconcile perfectly — its Broker course FAQ separately mentions a $25 rewrite fee for a second attempt that isn't detailed the same way on the main course-summary box — so treat the specific fee wording as published rather than fully reconciled.
Not every course publishes this level of detail. MPC's Ontario Mortgage Agent Course (Level 1) and Private Mortgages Course (Level 2) pages don't list an exam question count or pass mark at all — if you're taking an MPC course in Ontario, confirm exam specifics directly with MPC rather than assuming REMIC's figures apply.
02 · What do these exams actually test, beyond memorized facts?
Case-study-based multiple-choice questions — the format REMIC uses across its Ontario courses — test whether you can apply a rule to a specific client scenario, not just recall the rule in isolation. That's consistent with what these courses are meant to certify: readiness to advise a real borrower under real regulatory obligations, not just pass a memory test.
Québec's two required exams are built around its two training modules — Professional conduct and professional practice (F-116) and Mortgage brokerage (F-611) — so the exam content maps directly onto the module you just completed.
03 · What study tactics actually fit these exam formats?
- →Practice with case-study-style questions specifically, since most of these exams use scenario-based multiple choice rather than pure fact recall.
- →Time yourself under the exam's actual time limit during practice — a 3-hour, 100-question exam has a very different pace than a 3-hour, 50-question one.
- →If your province allows a free first attempt with a paid second attempt, as several REMIC courses do, treat the first sitting seriously rather than as a practice run — a paid retake adds cost and delay.
- →In Québec specifically, budget study time around each module separately, since F-116 and F-611 map to two distinct exams rather than one combined test.
04 · What actually happens if you fail on your first attempt?
It's rarely catastrophic, but the specifics matter. Québec allows three rewrites before requiring a full restart of the qualification process, including retaking the training itself. REMIC's courses allow a second attempt, sometimes at an additional cost, and UBC Sauder's current BC exam allows two attempts per course registration. None of these providers publish a policy on a third or later attempt beyond what's listed here, so confirm directly with your provider if you're past a second attempt.
For the study-schedule side of exam prep specifically, see the Mortgage Exam Study Plan worksheet. And once you're past the exam, Treadstone's Canadian Mortgage Underwriting Course waitlist and fulfillment services are worth exploring for what comes after licensing.
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Frequently asked questions
This article is general information to help you scale — not a substitute for tailored advice on your specific business, licensing, or compliance obligations. All figures are illustrative examples for planning purposes; actual costs vary by province, market, and brokerage.