Guidelines to Pass CeMAP courses As is known to many, passing the Certificate in Mortgage Advice & Practice (CeMAP) exams will give the aspirant the knowledge and the widely recognized qualification to embark on a professional career in the Financial Services sector. It is a fact that in order to give advice to the public, it is mandatory that each and every mortgage consultant should possess CeMAP qualification. Mortgage industry is a wide industry and therefore the syllabus for CeMAP exams is also expansive. The course comprises of financial services, assets, interest rates and products. The candidate should have thorough knowledge about the mortgage products, financial instruments, interest rates and other relevant statutes compiled by the industry. There are no minimum academic qualification requirements to join a CeMAP course. All that is required is a strong aptitude and love for the profession. As it is, there is a serious dearth for CeMAP trained professionals that the job market for anybody freshly capable undergoing CeMAP training will continue to be buoyant.
The CeMAP qualification consists of three exams - CeMAP 1, CeMAP 2 and CeMAP 3 as outlined below:
CeMAP 1 Introduction to Financial Services & Products and UK Regulation: CeMAP 1 is divided into two units Unit 1 is a complete overview of the financial services market and many candidates find this exam to be tough as it covers various aspects of financial services. Unit 2 is concerned with the regulation of the financial services industry. You have to answer 50 multiple choice questions in each unit within one hour and the pass marks are 35 (70%). CeMAP 2 Assessment of Mortgage Advice and Knowledge: CeMAP 2 consist of four units where Unit 3 involves the law in relation to mortgages, Unit 4 covers mortgage applications, Unit 5 deals with mortgage repayments and products and Unit 6 outlines post completion issues. Each unit contains 25 multiple choice questions and you should get 17 correct answers on each unit (68%). CeMAP 3 Synoptic Paper: In CeMAP 3 you need to answer 10 questions on each of 6 case studies which make a total of 60 questions. To clear the exam you need to answer correctly 42 questions out of 60(70%). The content of CeMAP 3 is same as the CeMAP 2. Preparations for CeMAP exams can be done either by attending training centers or through home study. Home study CeMAP is the most suitable training mode for those who do not have time to go to coaching institutes. There are several extensive online training courses available for those who want to do self-study. The most important benefit of home study courses is it allows you to study at your own speed. However the most effective and assured way to get success in CeMAP exam is to attend some CeMAP training courses. Added to this, you can also prepare for CeMAP exams using CeMAP revision guides or books available in the market. Bestow equal attention to all the three sections. You have 2 hours to complete your whole paper consisting of 6 case studies all consisting of 10 multiple choice questions, so allot 20 minutes on each case study. Omit those questions you are not sure of the answers initially and return to them before you move onto the next case study.
Published on Feb 9, 2011
As is known to many, passing the Certificate in Mortgage Advice & Practice (CeMAP) exams will give the aspirant the knowledge and the widely...