CeMAP (Certificate in Mortgage Advice and Practice):
The CeMAP qualification is required for any individual who intends on advising consumers on
Mortgages and other related unregulated financial products. It is awarded by the Institute of
Financial Services (ifs) School of Finance and regulated by the Financial Services Authority
(FSA) since 2004 as the industry benchmark qualification for Mortgage Brokers, Advisers or
Consultants. To be certified individuals need to successfully pass the 3 core modules for the
qualification.
The CeMAP modules are:
1. UK Financial Regulation
Focuses upon the purpose and structure of the UK financial services structure.
The module is divided into 2 units, each unit consists of 50 multiple choice questions (100
questions in all)
Areas covered:
- the UK financial services industry structure
- financial asset classes
- financial services products
- financial advice and regular reviews
- legal concepts
- UK taxation and social security systems
- inflation and interest rate
- non-tax laws
- FSA regulation
- the FSA's conduct of business rules
- anti-money laundering rules
- complaints and compensation
- the Data Protection Act 1998
2. Mortgages
Focuses upon law, practice policy and markets, application, payments methods and products
and post-completion issues.
This module is divided into 4 units, each unit consists of 25 multiple choice questions (100
questions in all)
Areas covered:
- the definition of a mortgage
- the house buying process
- the common types of borrower
- the role of a mortgage adviser and the importance and principles of providing advice,
including the key factors affecting the advice given
- the key features of the different types of mortgage repayment options and their benefits
for different types of borrower
- the principles and procedures associated with raising additional money and the
circumstances when further borrowing might be appropriate
3. Assessment of Mortgage Advice and Knowledge
Focuses on applying the knowledge and understanding of the previous 2 modules, by applying
suitable mortgage solutions within the regulatory and ethical framework.
This module is case study based consisting of 6 case studies (10 multiple choice questions per
case study)
Areas covered:
- the definition of a mortgage
- the house buying process
- the common types of borrower
- the role of a mortgage adviser and the importance and principles of providing advice,
including the key factors affecting the advice given
- the key features of the different types of mortgage repayment options and their benefits
for different types of borrower
- the principles and procedures associated with raising additional money and the
circumstances when further borrowing might be appropriate
EXAMINATION DURATION FOR EACH MODULE IS 2 HOURS
**IT IS IMPORTANT TO KNOW THAT NO ONE IS ALLOWED TO GIVE ADVICE ON
ANY MORTGAGE RELATED PRODUCT IF NOT SUITABLY QUALIFIED**
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