CeMAP- Certificate in Mortgage Advice & Practice it is a qualification, recognized by the (FSA) Financial Services Authority. Practicing advisors should possess this qualification in order to give advice on mortgages and mortgage related products. The UK mortgage industry is keeping up by the Financial Services Authority (FSA) and their rules affirm that you must have the full CeMAP qualification to give mortgage advice, so to become a mortgage advisor the CeMAP qualification is the first step.
Coming to the process and study of it, it contains three modules: CeMAP 1 is all about the preface to Financial Services & Products and UK Regulation and it is related with giving a common idea of the whole financial services market in the UK. A lot of students find this exam to be a little scary as it includes various sides of financial services. The CeMAP 1 takes account of two units and in each unit you have 50 questions which had to be completed in one hour with the pass mark for each being 35 (70%). It covers about the overview of financial services market covering taxation, investments, savings along with mortgage and pensions this comes under unit 1. More to the point, it adds with some comprehensive information of the principles of giving financial advice and the law 1
with regard to financial services. On the other hand, unit two is all about the parameter of the financial services industry. Linked with the structure of the Financial Services Authority, money, data protection and complaints and compensation CeMAP 2 is all about evaluation of Mortgage Advice and Knowledge. A list of 25 questions on each unit will be there and you have to get 17 correct answers on each unit. This unit is all about the law in relation to mortgages beside with the deals in mortgage applications also encompass mortgage repayments and products simultaneously with the outlines post completion issues. Finally, coming to CeMAP 3 it is a synoptic paper and it is based around answering questions on case studies. Encompassing 6 case studies and 10 questions on each case study making 60 questions in total; To get through this module you need to answer correctly 42 out of 60 (70%). No break up subject content for CeMAP 3. It is based on exactly the similar information and content as CeMAP 2. This is why we do the CeMAP 2&3 within the same training course and to qualify under CeMAP one must pass all three CeMAP Papers. Some tips on how to get through this paper: make sure that you give equal attention to all the three sections. You will have 2 hours to complete your whole paper consisting of 6 case studies all consisting of 10 multiple choice questions, so apportion 20 minutes on each case study. Omit those questions you are not positive of the answers in the beginning and return to them before you move onto the next case study. Home Study CeMAP
Published on Nov 21, 2012
CeMAP- Certificate in Mortgage Advice & Practice it is a qualification, recognized by the (FSA) Financial Services Authority. Practicing adv...