Ontario Mortgage Agent Practice Exam 2025 - Free Mortgage Agent Practice Questions and Study Guide

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Question: 1 / 400

How much time must an investor/lender be given before committing to lend?

24 hours

48 hours

The correct answer is B, 48 hours. This is because lenders or investors typically need some time to properly evaluate a lending opportunity before committing to it. 24 hours (A), although a reasonable amount of time, may not be enough for a lender/investor to conduct a thorough analysis and make an informed decision. 72 hours (C) and 1 week (D) may be too much time as it could delay the lending process and potentially miss out on other opportunities. Therefore, 48 hours strikes a balance between giving enough time for evaluation and not causing significant delays in the lending process.

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72 hours

1 week

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