Which of the following individuals must be authorised as a mortgage intermediary to introduce clients to a housing loan for a fee?

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Enhance your understanding of financial advising with the Qualified Financial Adviser (QFA) Loans Exam 1 Test. Prepare with detailed questions, hints, and explanations to ace your exam!

Multiple Choice

Which of the following individuals must be authorised as a mortgage intermediary to introduce clients to a housing loan for a fee?

Explanation:
Introducing a client to a housing loan for a fee is a regulated activity, so the person performing the introduction must be authorised as a mortgage intermediary. James is the individual who carries out the introduction for a fee, so he is the one who must be authorised. The two companies are not shown here as performing the actual mortgage introduction themselves; they may offer other services, but authorization hinges on the person/entity actively introducing or arranging a loan. Therefore, only James needs to be authorised in this scenario.

Introducing a client to a housing loan for a fee is a regulated activity, so the person performing the introduction must be authorised as a mortgage intermediary. James is the individual who carries out the introduction for a fee, so he is the one who must be authorised. The two companies are not shown here as performing the actual mortgage introduction themselves; they may offer other services, but authorization hinges on the person/entity actively introducing or arranging a loan. Therefore, only James needs to be authorised in this scenario.

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