💬 Communicating Effectively with Borrowers, Lenders and Colleagues

1. From a regulatory standpoint, which reason BEST justifies requiring mortgage licensees in Alberta to be proficient in English?

1. It allows licensees to skip plain-language explanations once documents are in English
2. Licensees must understand the legislation and documents and explain them accurately to clients
3. It lets brokerages market their mortgage products to a wider pool of Alberta borrowers
4. It ensures lenders will accept the associate's applications without further verification

FMB Blueprint LO 1.1.1 asks candidates to justify English proficiency from a regulatory standpoint: under Real Estate Act Rules s. 41(b) and (e), licensees must provide competent service and make sure their role is clearly understood, which requires reading legislation, contracts and lender documents accurately and explaining them. Wider marketing reach is a business benefit, not a regulatory reason, and proficiency does not replace plain-language explanations or lender verification.

2. A borrower who needs an interpreter arrives to sign the lender's commitment, but the interpreter has cancelled. The commitment does not expire for another week. What should the associate do?

1. Proceed in English and email her a translated summary of the conditions afterwards
2. Go over the conditions slowly in plain English and have her initial every page
3. Proceed, since her lawyer will explain every condition again at the mortgage signing
4. Postpone the signing until a qualified interpreter can attend the meeting with her

PMB Blueprint LO 1.2.1 covers situations that require an interpreter, and Real Estate Act Rules s. 41(b) and (e) require competent service and a role the client clearly understands. A borrower who cannot follow the conditions cannot give informed agreement, and with a week before expiry there is time to reschedule. A summary sent after signing comes too late, the lawyer's later review does not cure the gap, and page initials only record that she saw each page, not that she understood it (RECA Guidelines, Mortgage Commitments).

3. A mortgage associate who is fluent in Punjabi serves a borrower who speaks Punjabi far better than English. Which approach is MOST appropriate?

1. Speak only English, because licensees may not advise clients in any other language
2. Ask the borrower to bring a friend to read the English documents aloud at each meeting
3. Explain in Punjabi and confirm she understands the English documents she signs
4. Skip the written service agreement, since all its terms were explained orally in Punjabi

The conduct standards in Real Estate Act Rules s. 41 do not dictate the language used: s. 41(b) requires competent service and s. 41(e) a clearly understood role, and a shared language supports both. Because the documents she signs are in English, the associate must still confirm she understands them. A written service agreement remains mandatory when dealing in mortgages under s. 43(1), whatever language was used orally.

4. A lender has declined a borrower's application. Which way of communicating the decision is BEST?

1. Send a short text message so the borrower can absorb the news privately and reply later
2. Wait until another lender approves the file so the borrower only ever hears good news
3. Forward the lender's decline email without comment to avoid misstating its reasons
4. Call or meet the borrower to explain, then confirm the result and next steps in writing

FMB Blueprint LO 1.2.1 and 1.3.1 ask licensees to match the method to the situation: bad news calls for a direct conversation where questions can be answered, followed by a written record. Holding back the decline would breach the duty to keep the borrower informed of the application's progress (RECA sample intermediary service agreement, cl. 4.3(a)(vi)), and a bare text or forwarded email gives no explanation or path forward.

5. Five business days before closing, a mortgage associate learns that a commitment condition (a confirmation of employment letter) is still outstanding. What should the associate do FIRST?

1. Ask the lender to waive the condition before mentioning the problem to the borrower
2. Wait for the condition deadline in case the employer sends the letter on its own
3. Tell the buyer's real estate associate and let that person break the news to the borrower
4. Contact the borrower right away, explain what is missing and by when, and note the call

RECA's Guidelines for Mortgage Broker Originated Applications (Mortgage Commitments) expect the broker to ensure, whenever possible, that conditions are met within a reasonable time before closing, and FMB Blueprint LO 1.3.1 calls for the method that fits the situation: prompt, direct contact with the person who can fix the problem. Waiting, or routing the message through another party, wastes the little time left, and seeking a waiver first keeps the borrower in the dark about their own file.

6. Under RECA's sample intermediary service agreement, a borrower changes the email address listed for written communications. How must the borrower tell the brokerage?

1. In writing or by phone, within five business days after the change takes effect
2. In writing, but only if the change happens before the lender's commitment
3. Verbally at the next meeting, since only the brokerage's changes need notice
4. In writing, within two business days of the change to the contact information

Clause 10.2 of RECA's sample intermediary service agreement sets the contact information both parties will use for written communications and requires each of them to tell the other in writing within two business days of a change. The duty runs both ways and is not tied to the commitment stage; cl. 10.1 adds that documents may be delivered in person, by mail or electronically and that the risks of each method must be explained to the borrower.

7. A self-employed borrower referred by a friend calls a mortgage associate for the first time. Which first step BEST fits the situation?

1. Promise a pre-approval on the call to secure the borrower's business before competitors
2. Pull a credit report first, then call back once the score shows which lenders may fit
3. Book a meeting to learn the borrower's goals and explain the associate's role and pay
4. Email current rate sheets so the borrower can pick a lender before any meeting is held

Under Real Estate Act Rules s. 41(c) and (e), a licensee must disclose how they will be paid at the earliest practical opportunity and make sure their role is clearly understood; a first meeting focused on the borrower's goals does both. Pulling a credit report before obtaining consent skips the authorization RECA's sample service agreement collects (cl. 6.1), and promising a pre-approval would be a misleading representation contrary to s. 42(a).

8. A borrower prefers to communicate only by email. The associate finds that the address history on the application does not match the credit report. What should the associate do?

1. Submit the file and let the lender's underwriter raise the mismatch with the borrower
2. Edit the application to match the credit report without troubling the borrower
3. Discuss the mismatch with the borrower directly and give the lender the explanation
4. Email the borrower a list and submit the file if no reply comes within two days

RECA's Guidelines for Mortgage Broker Originated Applications require the broker to make sure all inconsistencies between the application and the credit report are discussed with the applicant and that an explanation is provided to the lender. A borrower's channel preference does not remove that duty. Leaving the issue to the underwriter, or silently editing the application, hands the lender information the brokerage has not verified or explained.

9. A borrower wants to send photos of her driver's licence and T4 slips to the associate by regular email. What should the associate do?

1. Insist on paper copies, since identity documents may not be sent electronically
2. Accept them by email, since the borrower chose that method and bears its risks
3. Explain the risks of email and offer the brokerage's secure way to send them
4. Have her text the photos to the associate's personal phone for faster handling

Clause 10.1 of RECA's sample intermediary service agreement allows documents to be delivered in person, by mail or electronically, but the risks of each method must be explained to the borrower, and Real Estate Act Rules s. 44(2) requires every mortgage brokerage to keep policies that protect personal and confidential information. Electronic delivery is therefore allowed, but only after the risks are explained and through the brokerage's protected channel; a personal phone sits outside those policies.

10. After submitting an application, a mortgage associate learns that the borrower has just changed employers. What should the associate do?

1. Update the lender promptly in writing and get documents confirming the new employment
2. Tell the borrower to inform the lender after funding so the closing is not delayed
3. Wait for the lender's employment verification call to reveal the change by itself
4. Say nothing unless asked, since the application was accurate when it was submitted

Under Real Estate Act Rules s. 41(a) a licensee must act honestly, and s. 42(a) bars conduct that misleads or is likely to mislead any person, including a lender. RECA's sample intermediary service agreement (cl. 4.3(b)(v)) lists keeping the lender informed of the progress of the application among the brokerage's duties to the lender. Staying silent because the file was accurate when submitted lets the lender rely on information the associate knows is out of date.

11. Which description BEST fits an assertive communication style for a mortgage associate?

1. Agreeing with the borrower to avoid conflict, even when the facts say otherwise
2. Pressing one's own view forcefully and brushing aside the borrower's concerns
3. Stating facts and needs clearly and respectfully while respecting other views
4. Seeming to agree, then showing disagreement indirectly through delay or sarcasm

FMB Blueprint LO 1.7.3 asks licensees to determine appropriate communication styles. An assertive style states facts and needs clearly and respectfully while leaving room for the other person's view, which suits disagreements with borrowers, lenders and colleagues. Agreeing to avoid conflict is passive, overriding concerns is aggressive and indirect resistance is passive-aggressive; none of them gives the honest, clear communication that Real Estate Act Rules s. 41(a)-(b) expects.

12. A borrower who is a chartered professional accountant asks the associate to "skip the basics." Which part of the discussion must NOT be dropped for her?

1. The disclosures the Rules require, such as how the brokerage will be paid
2. A general overview of how fixed and variable rates tend to behave over time
3. The checklist of purchase steps that the brokerage gives first-time buyers
4. Plain-language definitions of terms such as amortization, term and prepayment

FMB Blueprint LO 1.7.1 and 1.7.3 let licensees adapt language and detail to the audience, so an expert borrower can be spared basic definitions and general explanations. Regulatory content cannot be tailored away: Real Estate Act Rules s. 41(c) requires disclosure of how the licensee will be paid at the earliest practical opportunity, and s. 65(c) requires the brokerage's written disclosures to every borrower, whatever her expertise.

13. A mortgage associate is explaining a commitment to a first-time buyer. Which approach is MOST appropriate for this audience?

1. Use plain language, define terms such as amortization, and check the buyer understands
2. Keep it brief, since the buyer's lawyer will go over every term before the mortgage signing
3. Read out the lender's exact wording so that nothing in the commitment is lost or changed
4. Hand over the commitment to read alone and answer only the questions the buyer raises

FMB Blueprint LO 1.7.1 and 1.7.3 ask licensees to adapt language to the intended audience: a first-time buyer needs plain explanations of key terms and a check that they were understood. Reading the lender's wording verbatim protects precision but not understanding, and relying on the lawyer or on the buyer's own questions leaves gaps the associate is expected to close under Real Estate Act Rules s. 41(b).

14. A borrower who is hard of hearing meets a mortgage associate to review loan options. Which approach is BEST?

1. Face the borrower, speak clearly, give written summaries and confirm their understanding
2. Have a relative relay the discussion and sign the documents on the borrower's behalf
3. Move every exchange to email so that there is a written record and no meeting at all
4. Shorten the review to the essentials so that the meeting does not tire the borrower

FMB Blueprint LO 1.7.3 and 6.10.2 call for communication styles suited to diverse audiences and inclusive, respectful practice, and Real Estate Act Rules s. 42(e) bars denying professional services for reasons of physical disability. Adapting the delivery (clear speech, written support, checking understanding) gives the borrower the same full service. Cutting the review short, or forcing an email-only process, reduces the service instead of adapting it.

15. An elderly homeowner arrives to refinance with her adult son, who will receive most of the funds. The son answers every question for her. What should the associate do?

1. Let the son complete the application, then mail it to the homeowner for her signature
2. Add the son as a co-borrower so he may answer the lender's questions on her behalf
3. Speak with the homeowner privately to confirm her understanding and her own wishes
4. Proceed, since the son's presence shows that the family supports the refinance

PMB Blueprint LO 1.2.2 asks licensees to make sure a third party is not unduly impacting the transaction, and RECA's Guidelines for Mortgage Broker Originated Applications tell brokers to watch for scripted or recited answers. Under Real Estate Act Rules s. 41(b) and (e), the associate must be sure the borrower herself understands and wants the transaction. Accepting the son's answers, or letting him complete the application for her, leaves the real borrower's consent unverified.

16. Which behaviour by a mortgage associate is an example of active listening?

1. Restating the borrower's goal in your own words and asking whether it is accurate
2. Preparing a product recommendation while the borrower is still describing the situation
3. Interrupting to correct the borrower's terminology so the facts stay precise in the file
4. Staying silent through the meeting and sending the borrower a summary a few days later

FMB Blueprint LO 1.8.1 covers active listening techniques such as paraphrasing, clarifying and checking understanding. Restating the goal and asking for confirmation shows the borrower they were heard and catches errors early. Planning a pitch while the borrower talks, or interrupting to correct wording, pulls attention away from the speaker, and a later written summary is not listening in the moment.

17. Which of these is an open question a mortgage associate might ask during a first meeting?

1. Would you like a five-year fixed term, like most of my clients choose?
2. Is your current mortgage with a chartered bank or with a credit union?
3. What would you like this mortgage to help you achieve in the coming years?
4. Have you been with your current employer for at least two full years?

FMB Blueprint LO 1.8.1 (active listening techniques) and PMB LO 1.1.1 contrast open questions, which invite the borrower to explain in their own words, with closed questions that call for a short factual answer. The other three options can each be answered with a word or a yes/no, and the five-year fixed option is also a leading question that steers the borrower toward a product.

18. In which situation are closed questions MOST useful to a mortgage associate?

1. Confirming the exact income figures and dates given for the application
2. Learning the borrower's long-term plans for the property and for their family
3. Encouraging a nervous borrower to describe their financial worries in detail
4. Exploring why the borrower feels unhappy with their current lender relationship

PMB Blueprint LO 1.1.1 asks licensees to choose the listening technique each situation requires. Closed questions are efficient for confirming specific facts, such as figures and dates, that must be exact on an application. Exploring dissatisfaction, plans or worries calls for open questions that let the borrower explain in their own words.

19. A borrower hesitates when the associate mentions a variable-rate mortgage. Which reply reflects active listening rather than persuasion?

1. Most of my clients pick variable, so you would be making a very sound choice.
2. Let me show you why variable rates have tended to save borrowers money overall.
3. It sounds like changing payments worry you. Can you tell me more about that?
4. I understand, but this lender is offering its variable discount only until Friday.

FMB Blueprint LO 1.8.1 (active listening) involves reflecting the feeling behind what the borrower says and inviting them to say more. The other replies are persuasion: social proof, a sales argument and time pressure. Confusing the two can push a borrower toward a product before their concern is understood, which is hard to reconcile with competent service under Real Estate Act Rules s. 41(b).

20. While the associate explains the prepayment penalty, the borrower nods but frowns and looks away. What should the associate do?

1. Pause and ask an open question to find out what part of the penalty is unclear
2. Repeat the same explanation more slowly until the borrower says they agree
3. Note in the file that the penalty was explained to and accepted by the borrower
4. Treat the nodding as agreement and move on to the signature pages of the file

FMB Blueprint LO 1.8.1 includes reading non-verbal cues as part of active listening; a frown and averted gaze contradict the nod and signal confusion or concern. An open question lets the borrower name what is unclear. Recording the penalty as accepted, or repeating the same words until the borrower gives in, documents an understanding that has not been confirmed.

21. Over three meetings, a borrower's account of how long they have held their job keeps changing. Which listening approach BEST fits this situation?

1. Empathetic listening that accepts the account so as to keep the borrower's trust intact
2. Critical listening that compares each answer with the documents and earlier statements
3. Passive listening that lets the borrower talk freely without any follow-up questions
4. Selective listening that retains only the facts supporting the strongest application

PMB Blueprint LO 1.1.1 asks which listening technique a situation requires. Shifting answers about employment call for critical (evaluative) listening, because RECA's Guidelines for Mortgage Broker Originated Applications require inconsistencies to be addressed and warn about hesitations or difficulty remembering common details. Empathetic listening suits an anxious borrower, but accepting the story here would leave a possible misrepresentation unexamined.

22. Which situation MOST clearly calls for an interpreter in a mortgage transaction?

1. The borrower speaks English well but prefers to receive written updates in French
2. The borrower asks for a copy of the service agreement to review at home before signing
3. The borrower has an accent that the lender's underwriter might find hard to follow
4. The borrower cannot follow the mortgage terms in any language the associate speaks

PMB Blueprint LO 1.2.1 asks licensees to determine situations that require an interpreter: the test is whether the borrower can understand the transaction in a language the licensee can use. A preference for French correspondence, an accent, or a wish to review documents at home does not prevent understanding; taking time to read a service agreement is good practice, not a language barrier.

23. A borrower with limited English brings her brother-in-law to interpret. He is also lending her part of the down payment. What is the BEST course?

1. Arrange an independent interpreter, since the brother-in-law has a stake in the deal
2. Accept him if he signs a statement that his interpretation will be complete and true
3. Let him interpret, but have the borrower initial every page of the mortgage application
4. Accept him, because a relative is usually the interpreter a borrower trusts the most

PMB Blueprint LO 1.2.2 requires processes to ensure an interpreter is legitimate and not unduly impacting the transaction. A relative who is also lending part of the down payment has a personal interest in the outcome, and RECA's Guidelines for Mortgage Broker Originated Applications require extra due diligence when the down payment is borrowed and confirmation that it comes from the applicant's own resources. Family trust, a signed statement or page initials do not remove that conflict.

24. On a three-way call, the buyer's real estate associate blames the mortgage associate, in front of the buyer, for a late lender commitment. What is the BEST response?

1. Point out the real estate associate's own delays so the buyer sees who is at fault
2. Accept the blame to calm the call, even though the delay came from the lender
3. Stay factual about the file's status and settle the disagreement privately later
4. End the call at once and email the buyer a complaint about the real estate associate

FMB Blueprint LO 1.9.2 covers techniques for confrontations: keep to verifiable facts, lower the temperature and move a dispute between professionals away from the client. Counter-accusations escalate the conflict in front of the buyer, and ending the call leaves the buyer without the status update they need. Accepting blame for a delay the lender caused would give the buyer a false account of the file, conduct that Real Estate Act Rules s. 42(a) prohibits.

25. During an application meeting, the interpreter answers questions without consulting the borrower, and the borrower cannot name her employer. What should the associate do?

1. Submit the file and let the lender decide whether the borrower's answers are credible
2. Continue, since an interpreter answering directly saves time for both of the parties
3. Ask the interpreter to bring the borrower's employment letter after the meeting ends
4. Stop and treat it as a possible straw-buyer red flag before taking the file any further

PMB Blueprint LO 1.2.2 links interpreter checks to straw-buyer schemes, and RECA's Guidelines for Mortgage Broker Originated Applications tell brokers to watch for scripted answers, hesitation or difficulty remembering common details. A borrower who cannot name her own employer while a third party speaks for her fits RECA's description of a straw buyer lending a name and credit to someone else. Passing the file on without resolving this leaves the lender exposed to fraud.

26. Which communication method gives a mortgage associate the most immediate verbal and non-verbal feedback from a borrower?

1. A face-to-face meeting where both people can see and hear each other
2. A detailed email that the borrower can reread and answer at a later time
3. A text message thread that keeps a written record of each of the replies
4. A letter sent by mail with a reply form and a prepaid return envelope

FMB Blueprint LO 1.2.1 and 1.3.1 ask licensees to choose the communication method that fits the situation. A face-to-face meeting carries tone, facial expression and body language and lets misunderstandings surface at once, which matters for complex or sensitive discussions. Email, text and mail leave a useful record but delay feedback and strip out non-verbal cues, so they work best to confirm what was discussed.

27. A borrower who has just learned that her application was declined is too upset to take in the options the associate is explaining. Which barrier to communication is this?

1. A semantic barrier, created by technical mortgage terms the borrower does not know
2. An emotional barrier, where strong feelings block the borrower from taking it in
3. A physical barrier, such as background noise or a poor connection on the line
4. A cultural barrier, arising from different norms about discussing money matters

FMB Blueprint LO 1.9.1 asks licensees to describe why communication breaks down. Distress after bad news is an emotional barrier: until the feeling is acknowledged, the borrower cannot absorb options, so the associate should acknowledge it and offer to continue later (LO 1.9.2). Nothing in the scenario points to unfamiliar jargon, noise on the line or cultural norms about money.

28. A borrower posts an online review falsely claiming that the associate hid the brokerage's fees from him. What is the BEST response?

1. Post his signed fee disclosure under the review to prove the fees were disclosed
2. Reply briefly and courteously, offer to talk privately, and give no file details
3. Ask the lender to post a reply confirming the fee terms that the borrower accepted
4. Ignore it, since public reviews fall outside the brokerage's complaint handling

Real Estate Act Rules s. 44(1) bars a licensee from disclosing information about a client or transaction unless the client authorizes it or the law requires it, so posting the borrower's signed disclosure, or having the lender confirm his terms publicly, would breach confidentiality even to correct a false claim. FMB Blueprint LO 1.7.2 calls for calm, constructive logic in adversarial situations: acknowledge publicly, then move the discussion to a private channel. Ignoring the review gives up the chance to resolve the complaint.

29. A borrower's interpreter offers to provide the deposit cheque for the purchase from his own bank account. What should the associate do?

1. Treat the interpreter as the borrower's agent and let him pay the deposit for her
2. Proceed once the borrower signs a gift letter naming the interpreter as the donor
3. Proceed, since the listing brokerage will hold the deposit in trust in any case
4. Verify where the deposit funds come from and raise the matter with the broker

RECA's Tip Sheet on red flags regarding the borrower/buyer lists a deposit from someone other than the buyer as a warning sign, and PMB Blueprint LO 1.2.2 asks licensees to make sure an interpreter is not unduly impacting the transaction or manipulating a straw-buyer scheme. RECA's guidelines accept gift letters only from immediate relatives and require the down payment to come from the applicant's own resources, so the source of the funds must be verified and the broker involved before the file goes further. Trust handling by the listing brokerage says nothing about where the money came from.

30. Which of the following is a common cause of communication breakdown between a mortgage associate and a borrower?

1. Scheduling meetings at times that fit around the borrower's work commitments
2. Using industry jargon and assuming the borrower understood without checking
3. Agreeing early on how often and by which channel the borrower wants updates
4. Confirming important phone conversations with a short written summary afterwards

FMB Blueprint LO 1.9.1 asks licensees to describe the most common reasons communication breaks down; unexplained jargon and untested assumptions about understanding are classic causes, and LO 1.7.3 calls for language suited to the audience. The other options are practices that prevent breakdowns: written confirmation of calls, an agreed update routine and meetings arranged around the borrower's schedule.

31. A borrower calls, angry and shouting, saying the rate on the commitment is higher than expected. What should the associate do FIRST?

1. Explain the lender's rate policy at once so the borrower sees where the fault lies
2. End the call politely and reply only by email so there is a record of the dispute
3. Stay calm, let the borrower finish, and acknowledge the frustration before the facts
4. Offer to personally cover part of the rate difference to keep the borrower satisfied

FMB Blueprint LO 1.9.2 covers techniques for confrontations: letting the person speak and acknowledging their emotion lowers the tension before facts can be heard. Leading with policy or fault tends to escalate, and an email-only reply avoids the conversation. A personal payment would be an inducement not provided by and on behalf of the brokerage, contrary to Real Estate Act Rules s. 70(2).

32. Which statement by a mortgage associate is MOST likely to de-escalate a tense conversation with a borrower?

1. You misunderstood what I said, so the rate was not guaranteed to you at all.
2. I want to fix this with you; let's review what the commitment says together.
3. Please calm down first, and then we can talk about whether this can be fixed.
4. The lender made this mistake, so there is really nothing more I can do for you.

FMB Blueprint LO 1.9.2 describes techniques for confrontations, such as focusing on the shared problem and on facts both parties can review together. Blaming the borrower, telling an upset person to calm down, or shifting all fault to the lender closes the conversation instead of repairing it.

33. A lender's underwriter curtly rejects an associate's explanation of a borrower's variable income. What is the BEST next step?

1. Ask what specific information would resolve the concern and send it in writing
2. Escalate at once to the lender's senior managers so they overrule the underwriter
3. Resubmit the same file to another lender without telling the borrower about it
4. Have the borrower call the underwriter directly to argue for the explanation

FMB Blueprint LO 1.9.2 covers techniques for communication breakdowns, including moving from positions to the specific issue. Asking what would satisfy the underwriter turns the disagreement into a request the associate can meet. Switching lenders without telling the borrower breaches the duty to keep the borrower informed of the application's progress (RECA sample intermediary service agreement, cl. 4.3(a)(vi)), and drawing the borrower or senior managers into the dispute escalates it.

34. Two associates at the same mortgage brokerage disagree over which of them is working with a particular borrower. How should they resolve it?

1. Raise it at the next team meeting and let all the associates vote on it
2. Ask the borrower's lender which associate submitted the application first
3. Ask the borrower to call each associate and choose whichever offers the most
4. Talk it over privately and, if they still disagree, ask the broker to decide

Under Real Estate Act Rules s. 67(1)(d)-(f), the mortgage broker sets the brokerage's written policies and must ensure adequate supervision, and s. 69(d) requires associates to keep the broker informed of their activities. A private conversation first, then the broker's decision, keeps the dispute away from the borrower. Making the borrower referee, or involving the lender, exposes an internal conflict to clients and third parties.

35. A buyer removed the financing condition, believing a pre-approval meant guaranteed financing. The lender then declined the deal. Which communication failure by the associate MOST likely caused this?

1. The buyer was not given the lender's product sheet before making the purchase offer
2. The associate did not send the buyer weekly rate updates while the buyer was house hunting
3. The limits of the pre-approval were not explained to the buyer or confirmed in writing
4. The associate did not copy the buyer's real estate associate on every lender email sent

Under Real Estate Act Rules s. 42(a), a licensee must not make representations, recklessly or intentionally, that mislead or are likely to mislead, and s. 41(e) requires the licensee's role to be clearly understood. If the associate let a pre-approval be understood as a guarantee, the buyer relied on it when removing the condition. A product sheet or rate updates would not have corrected the misunderstanding about what a pre-approval means.