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Questions and Answers
Which type of lender provides short-term loans between 6 to 24 months with higher interest rates?
Which type of lender provides short-term loans between 6 to 24 months with higher interest rates?
- Mortgage Investment Corporations (MICs) (correct)
- Chartered Banks
- Credit Unions
- Private Lenders
What document must a Mortgage Investment Corporation (MIC) provide potential investors with in order to sell its shares?
What document must a Mortgage Investment Corporation (MIC) provide potential investors with in order to sell its shares?
- Prospectus
- Offering Memorandum (correct)
- Stock Certificate
- Shareholder Agreement
Which type of investors can invest in a private corporation using an Offering Memorandum instead of a prospectus?
Which type of investors can invest in a private corporation using an Offering Memorandum instead of a prospectus?
- Company Insiders
- Accredited Investors (correct)
- Family Members
- General Public
What is the main security that an investor gets when investing in a Mortgage Investment Corporation (MIC)?
What is the main security that an investor gets when investing in a Mortgage Investment Corporation (MIC)?
Which type of lender is known for providing products characterized by short-term loans and higher interest rates?
Which type of lender is known for providing products characterized by short-term loans and higher interest rates?
Who can invest in a private corporation using an Offering Memorandum instead of a prospectus?
Who can invest in a private corporation using an Offering Memorandum instead of a prospectus?
Which type of entity is considered a member of a designated class of lenders and investors according to the text?
Which type of entity is considered a member of a designated class of lenders and investors according to the text?
Who among the following is NOT considered a member of a designated class of lenders and investors as per the text?
Who among the following is NOT considered a member of a designated class of lenders and investors as per the text?
Which entity is not explicitly mentioned as a member of a designated class in the text?
Which entity is not explicitly mentioned as a member of a designated class in the text?
Who can be considered part of a designated class of lenders and investors if acting as an agent or trustee for fully managed accounts?
Who can be considered part of a designated class of lenders and investors if acting as an agent or trustee for fully managed accounts?
Which of the following entities is categorized as a member of a designated class based on the text provided?
Which of the following entities is categorized as a member of a designated class based on the text provided?
What is the primary difference in how an investor participates in a MIC compared to investing directly in mortgages?
What is the primary difference in how an investor participates in a MIC compared to investing directly in mortgages?
In a corporate bankruptcy, how are shareholders usually treated compared to other parties?
In a corporate bankruptcy, how are shareholders usually treated compared to other parties?
What factor prevents most Mortgage Investment Corporations (MICs) from guaranteeing share redemption?
What factor prevents most Mortgage Investment Corporations (MICs) from guaranteeing share redemption?
Why do most Mortgage Investment Corporations (MICs) not specify the time it will take for share redemption?
Why do most Mortgage Investment Corporations (MICs) not specify the time it will take for share redemption?
What does O.Reg. 188/08 define in relation to Mortgage Brokerages?
What does O.Reg. 188/08 define in relation to Mortgage Brokerages?
'What is the significance of the designated class of lenders and investors defined in O.Reg. 188/08?'
'What is the significance of the designated class of lenders and investors defined in O.Reg. 188/08?'
What is the maximum total debt amount allowed by a syndicated mortgage in relation to the fair market value of the property?
What is the maximum total debt amount allowed by a syndicated mortgage in relation to the fair market value of the property?
What is the limitation on the term of the debt obligation related to a syndicated mortgage?
What is the limitation on the term of the debt obligation related to a syndicated mortgage?
According to FSRA, what defines a 'Permitted Client'?
According to FSRA, what defines a 'Permitted Client'?
Why is it illegal to promise 'guaranteed' high returns in syndicated mortgage investments?
Why is it illegal to promise 'guaranteed' high returns in syndicated mortgage investments?
What is typically the payment priority for investors in syndicated mortgages?
What is typically the payment priority for investors in syndicated mortgages?
In general, what is the relationship between rate of return and investment risk in syndicated mortgages?
In general, what is the relationship between rate of return and investment risk in syndicated mortgages?
Why is it important to know your investor?
Why is it important to know your investor?
What is the primary use of FSRA’s Form 3.0?
What is the primary use of FSRA’s Form 3.0?
What are the two classifications of syndicated mortgages as of July 1, 2018?
What are the two classifications of syndicated mortgages as of July 1, 2018?
What are the requirements needed to classify an investment as a Qualified Syndicated Mortgage?
What are the requirements needed to classify an investment as a Qualified Syndicated Mortgage?
Why is FSRA’s Form 3.0 useful for non-syndicated private mortgage transactions?
Why is FSRA’s Form 3.0 useful for non-syndicated private mortgage transactions?
What is the significance of the July 1, 2018 subdivision of syndicated mortgages?
What is the significance of the July 1, 2018 subdivision of syndicated mortgages?
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