How to Become a Real Estate Broker in Quebec
Quebec real estate brokerage through the OACIQ: recognized training, the certification exam, French proof where it applies, and the May to April licence year.
How to Become a Mortgage Broker in Quebec
Quebec mortgage broker licensing: AMF training, two exams at 60%, a 336-hour probationary period, then a representative's certificate.
Applies in: Quebec
Mortgage brokerage in Quebec is regulated by the Autorité des marchés financiers (AMF), and the route to practising is the AMF's own four-step process: recognized training, AMF examinations, a supervised probationary period, and a representative's certificate. The certificate is a certificat de représentant in the mortgage brokerage sector, and the person who holds it is a courtier hypothécaire. Quebec's regime is distinct from the rest of Canada: there is no associate licence to climb through, and no other province's licence is a substitute for the AMF's training, exams, and probationary period. This guide follows the AMF's route only as the AMF states it.
Step 1: Complete the recognized training
Start with the Mortgage Brokerage Qualification Program, the Programme de qualification en courtage hypothécaire (PQCH), through a training provider recognized by the AMF. The program is the initial training that qualifies you to sit the AMF's examinations, and it covers professional conduct and mortgage brokerage. During each examination session, candidates are provided with an e-tablet containing the AMF's exam preparation manuals.
Step 2: Pass the two AMF exams
After the training is successfully completed, the AMF requires you to pass two exams. Exam 16-116 covers setting up an ethical professional practice in compliance with the rules governing mortgage brokerage, and exam 16-611 covers completing a mortgage brokerage transaction suited to the client's situation and needs. You must score at least 60% on each examination to pass, and failing to follow the instructions given during an examination session counts as a failure. An exam is valid for two years from the first time you pass it, and all examinations must be valid when you begin your probationary period. If you fail an exam, the AMF publishes rules for rewriting failed exams.
Step 3: Find an employer and a supervisor
Before the probationary period, find an employer and a supervisor. In the AMF's terms, the employer is the firm, independent partnership, or independent representative you will work for while completing the probationary period. The supervisor must be a representative authorized by the AMF in the mortgage brokerage sector, and up to four supervisors may be designated so supervision continues if one is unavailable. The probationary period exists so you can apply and develop the competencies needed to practise responsibly in an actual work setting, handling real files under supervision, and the trainee file your supervisor keeps is the record of the hours and competencies covered.
Step 4: Get the probationary period authorized
You must have formal authorization from the AMF and a valid probationary certificate before you begin. Your employer submits the application for authorization through AMF E-Services, identifying you, choosing the mortgage brokerage sector, indicating the requested start date, naming the supervisors, paying the fees, and confirming transmission. You then complete the statement of applicant, confirming the employer's information, disclosing any bankruptcies, convictions, or outside activities, and providing the required supporting documents. The AMF sends a formal document confirming the date on which the probationary period can start, and you must begin only on that date. Starting early is unauthorized practice, which may result in sanctions, and any hours completed without valid authorization cannot be counted.
Step 5: Complete the probationary period
The probationary period in mortgage brokerage must last at least 336 hours, must not exceed 40 hours per week, and must be completed in not more than 24 weeks. During the period you hold a probationary certificate from the AMF, which authorizes you to use the title of trainee, perform certain professional activities reserved for representatives, and practise within the framework the AMF authorized. Your activities are overseen by your AMF-authorized supervisor, covered by the employer's professional liability insurance and by the Fonds d'indemnisation des services financiers, the financial services compensation fund. Your name and your employer's name appear in the AMF's Register of firms and individuals authorized to practise, and you should check that you are listed. If any of your information changes during the period, notify the AMF within five days, or within 30 days if the change concerns another activity.
Step 6: Apply for the representative's certificate
Successful completion of the probationary period is the third step in the AMF's four-step process, and the representative's certificate is the fourth. Apply to the AMF for the certificate in mortgage brokerage while your examinations are still valid: all examinations must be valid when you begin the probationary period, and an exam is valid for two years from the date you first pass it, so track the expiry dates from the start. Once certified, you practise as a representative in the mortgage brokerage sector. To qualify as a responsible officer of a firm, or to register as an independent representative, you must also pass exam 16-117, on setting up an ethical professional practice in compliance with the rules governing the management of a mortgage brokerage firm. No training is required for that exam, but the AMF directs candidates to prepare from its Guide for Responsible Officers.
Figures the opened AMF pages do not state
The AMF pages state the two examinations and their codes, the 60% pass mark, the two-year examination validity, the 336-hour probationary period with its weekly and total limits, the authorization sequence, and the responsible officer examination set out above. They do not state the training program's cost or length, the examination fees, the certificate application fee, the certificate renewal period, or the continuing education hours a certified representative must complete. Those figures were cut from this guide rather than filled in from a secondary source. Confirm the current fees, training providers, and renewal requirements on the AMF's website before enrolling.
Related guides:
- How to become a mortgage broker in New Brunswick: New Brunswick's associate-to-broker ladder under the Financial and Consumer Services Commission, the route Quebec does not use.
- How to become a mortgage broker in Saskatchewan: Saskatchewan's associate-to-broker ladder under the Financial and Consumer Affairs Authority.
- How to become a mortgage broker in Manitoba: Manitoba's salesperson-to-authorized-official ladder under the Manitoba Securities Commission.
- How to become a mortgage agent in Ontario: Ontario's entry-level mortgage agent licence under the Financial Services Regulatory Authority of Ontario.
- Licensed Occupations in Quebec — every verified licence and credential in Quebec, with the regulator that issues it
The Quebec mortgage broker path
- Complete the recognized trainingThe Mortgage Brokerage Qualification Program, known in French as the Programme de qualification en courtage hypothécaire, through a training provider recognized by the AMF
- Pass the two AMF examsExams 16-116 and 16-611, at least 60% on each, valid for two years from the date passed
- Find an employer and a supervisorA firm, independent partnership, or independent representative that will employ you during the probationary period
- Get the probationary period authorizedYour employer applies through AMF E-Services, you complete the statement of applicant, and the AMF issues a probationary certificate
- Complete the probationary periodAt least 336 hours, no more than 40 hours per week, completed in not more than 24 weeks, under an authorized supervisor
- Apply for the representative's certificateApply to the AMF for the certificate in mortgage brokerage before the exams expire
Questions people ask
What is the Quebec mortgage broker licence actually called?
It is a representative's certificate in the mortgage brokerage sector, issued by the Autorité des marchés financiers (AMF). In French the role is courtier hypothécaire, and the certificate is a certificat de représentant. Quebec does not use the associate-to-broker ladder found in other provinces: the path is training, exams, a probationary period, then the certificate.
What training do I need before the AMF exams?
You must complete the Mortgage Brokerage Qualification Program, the Programme de qualification en courtage hypothécaire, through a training provider recognized by the AMF. The program covers professional conduct and mortgage brokerage, and during each examination session candidates are provided with an e-tablet containing the AMF's exam preparation manuals.
What exams must I pass, and what is the pass mark?
Two AMF exams: 16-116, setting up an ethical professional practice in compliance with the rules governing mortgage brokerage, and 16-611, completing a mortgage brokerage transaction suited to the client's situation and needs. You must score at least 60% on each. An exam is valid for two years from the date you first pass it, and all examinations must still be valid when you begin the probationary period.
How long is the probationary period in Quebec?
At least 336 hours, at no more than 40 hours per week, completed in not more than 24 weeks. You work under the supervision of a representative authorized by the AMF, and you hold a probationary certificate from the AMF for the whole period. You must not begin before the AMF authorizes the start date: hours worked without authorization do not count, and unauthorized practice is treated as illegal practice.
Who applies for the probationary period, me or my employer?
Your employer applies. The firm, independent partnership, or independent representative submits the application for authorization through AMF E-Services, names up to four supervisors, and pays the fees. You then complete the statement of applicant, disclosing bankruptcies, convictions, and outside activities. The AMF sends a formal document confirming the date the probationary period can start.
What if I want to run a firm or practise on my own?
To qualify as a responsible officer of a firm, or to register as an independent representative, you must pass a further exam covering professional practice, exam 16-117, on setting up an ethical professional practice in compliance with the rules governing the management of a mortgage brokerage firm. No training is required for that exam, but the AMF directs candidates to prepare from its Guide for Responsible Officers.
Sources
- Autorité des marchés financiers, Exams — the two mortgage brokerage examinations 16-116 and 16-611, the 60% pass mark, the two-year examination validity, and the responsible officer examination 16-117.
- Autorité des marchés financiers, General rules for the probationary period — the probationary period as a prerequisite for the representative's certificate, the authorization sequence, the probationary certificate, the 336-hour minimum with the 40-hour weekly and 24-week limits, and the notification deadlines.