CeMAP Guide

05/10/2009
Welcome to Your Guide to the Mortgage Industry and CeMAP where

you will find helpful hints and tips on CeMAP and also information
on the Mortgage Industry and a career in the industry.
industry,
If you are contemplating a career in the mortgage indu stry, either as
an adviser, or as part of an administration team, then this guide will
provide you with a wealth of useful information.
The CeMAP exam is also surrounded by much myth and speculation

which we will cut through in this guide and give you clear,
clear, helpful
information to help you with your future choices.
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indirect loss or damage caused by omissions from or inaccuracies in this document.
The Herne Group reserves the right to change details in this publication without notice.
The Herne Group, Mansebank Villa, Mansfield, Leslie, Fife, KY6 3JX
01592 743131 info@hernegoup.com www.cemap-training.com
The Mortgage Industry
Introduction to the Mortgage Industry
For most people not already involved in the
industry, the only contacts we have with
mortgages and the people who work in the
industry are when we are looking for a
mortgage to buy our new home. This may
involve visiting a bank or building society,
or using the services of a mortgage adviser
in an independent brokerage.
This rare contact tends to lend the mortgage

adviser an air of mystery that is very
unhelpful if you are considering working in
the industry and want to know what the role
is about.
The industry has also been through some

tough times in the 2008/2009 ‘credit crunch’
and this has only helped to deepen peoples
misconceptions and prejudices about the
industry.
In the next few pages we will explore in more depth the industry, the role of the
adviser in the industry, and the qualities that make a good mortgage adviser.
The Role of the Mortgage Adviser
When it comes to family finances, the mortgage
adviser has one of the most important roles to
play. For almost everyone, the mortgage is the
largest single business transaction they make.
Borrowing money to buy a house is a very long-
term commitment, typically 25 years, and the
sums of money involved can be anything from
£60,000 to several million pounds.
The mortgage adviser has to assess the client and

recommend a course of action that will provide
the best outcome for the client. This
recommendation has to be made taking into
account the client’s needs, wants and preferences.
The most important tool the mortgage adviser has

is the Fact Find, where he or she goes through a
series of questions designed to find out about the
client.
These questions go into great detail about the client’s financial situation, plans for the
future and preferences, for instance, regarding risk. Of course, the other vitally
important thing to remember is that the client may lose their home if anything goes
wrong with the mortgage. So this is a highly responsible role that the mortgage
adviser has to undertake.
It is because of this responsibility that the law states that anyone giving mortgage
advice must be suitably qualified, and this is where CeMAP comes into play. CeMAP
is the most popular qualification for mortgage advisers and it covers all of the
essential information that is needed to offer mortgage advice.
How the Mortgage Adviser Operates
Once qualified with CeMAP, the mortgage
adviser is then ready to give advice to potential
customers. However, the mortgage market is
huge with literally thousands of different
mortgage products available for the adviser to
recommend. It is impossible for the adviser to
know everything about every product, there just
are not enough hours in the day to learn it all, and
then even if the adviser had learned everything,
then tomorrow it could change.
So the adviser has help with this knowledge,

usually in the form of specialist software that has
access to all of the relevant products. The
software then analyses the data that the adviser
has entered related to a particular client, and then
returns with a recommended shortlist of products
that are likely to suit that client’s needs.
The experience and knowledge of the adviser is then used to select the most suitable
mortgage product from this list. This is where the adviser can use the knowledge
gained at the meeting, and the so-called soft facts related to the client, and match the
shortlist to the client’s needs and wants. This is what differentiates a good adviser
from a poor one, and is also where an advised client gains over an inexperienced
client simply shopping online for the cheapest package.
An experienced adviser is able to rapidly examine the products recommended by the

software, and then bring out the key features that are important for the client. From
this information the adviser can then go to the client with perhaps two products to
choose from that will provide the closest match to the client’s needs.
The Skills Needed to be a Mortgage Adviser
Many people think that to be a mortgage adviser you
need to be a mathematical genius with a calculator for
a brain. Nothing could be further from the truth.
The ability most needed by a mortgage adviser is to be

a good listener. The adviser has to be able to listen to
the client, interpret the meaning of what is said, and
translate the meaning into a language that is relevant
to the resourcing software. The adviser may also need
to probe the client’s responses in order to determine
the true meaning behind a statement where the client’s
answer may not have been totally clear.
The ability to listen, to communicate clearly and to

build a rapport with a client are the most important
attributes that anyone can bring to the role of a
mortgage adviser.
Without these skills an adviser will struggle to gain their client’s trust and this will
severely limit the information that the adviser will gain during the meeting. The
adviser is talking to the client about personal information, including future plans that
may project forward for many years. The client will not only be discussing financial
issues but they may also need to discuss, for example, whether there are any plans to
start a family in the foreseeable future.
All of this information is relevant when advising the client on a long-term

commitment such as a mortgage. For example, if with a couple, both salaries are
needed to cover the mortgage payments, but the plan is for one of the people to leave
work to raise a family, then this is vitally important to the mortgage arrangement. It
would be irresponsible of the adviser to recommend a mortgage that could only be
afforded on two salaries, if he knew that one person was likely to give up work in the
medium term.
Giving Advice on the Full Range of Products
As a mortgage adviser your role is not simply to
advise on mortgages, but also to examine many of
the client’s other financial matters.
For example, does the client have life insurance,

and is it sufficient taking into account all of their
financial circumstances? If you have just arranged
a mortgage for the client, then is their life
insurance adequate given the size of the
mortgage?
How well is the client covered for eventualities

other than death, for instance, in the case of health
problems, redundancy, or permanent disability?
What about the buildings and contents insurance?
Have they been reviewed recently?
If the client has a family then these questions are

absolutely vital for the family future if anything goes wrong.
As a mortgage adviser it is your job to ensure that the client is advised on his or her
potential problem areas. In your analysis, if you believe that they do not have
adequate cover in any of these areas, or if you feel that they are paying too much for
cover from their existing supplier, then it is your duty to inform them of their options
and make sure that they understand the consequences of failure to provide adequate
cover.
As a mortgage adviser you are qualified to advise on all of these areas, i.e. life
insurance, critical illness cover, permanent health insurance, buildings and contents
insurance. You are not allowed to advise on pensions or investment products.
The Role of a Mortgage Adviser is not Restricted
People often wonder if the role of
adviser is suited to young rather
than old, or men rather than
women. The truth is that the job of
a mortgage adviser is really open
to anyone who can communicate
with others. Whether a person is
young or old, man or woman,
really has no impact on their
suitability as an adviser.
In many ways older people who

have more experience of life, tend
to have a better rapport with
potential clients than perhaps
younger, less experienced people.
However, there are still many
excellent young advisers who are
providing their clients with good advice.
What is most important is that the adviser has the skills to build a good rapport with a
new client very quickly because this then makes the Fact Find easier to complete. The
client must also feel able to open up with his adviser and discuss his finances and
personal situation fully.
So, the important thing to remember is that being a mortgage adviser is genuinely
open to anyone, not simply because the law says that discrimination is illegal, but
because whatever your age or gender, you can bring something unique to the role. The
vital skill is communication, and anyone who can communicate effectively has a good
chance at becoming an excellent mortgage adviser.
The Life of a Mortgage Adviser
The typical working life of a mortgage adviser
depends very much on the career path chosen.
Most of the banks and building societies have
staff trained as mortgage advisers who operate out
of the branches. For these advisers the typical
working day will be centred around helping
people who approach the bank or building society
for a mortgage.
For this type of adviser the working day is likely

to be office bound within the branch and
operating on a standard nine to five basis.
Alternatively, it is possible to work either self-

employed or as part of a mortgage brokerage
company. In this situation the adviser often visits
the clients in their own homes, and frequently
these visits take place in the evenings or
weekends when the client is not at work.
This type of role will obviously involve an amount of travelling to and from the
clients’ homes, and working into the evenings. An adviser working in this role will
often have a large portion of the day free, using some of this time to process the
paperwork and prospect for new clients.
An expanding role for advisers is in call centres. In this situation, the adviser takes
calls from clients who are looking for a mortgage and gives advice over the telephone.
In this case the paperwork is then sent out to the client to check, confirm and sign
after the telephone conversation.
Mortgage Adviser Income
The mortgage adviser role is still one where
commission plays a part in the earnings level. The
proportion of income from commission depends on
the type of role, the status of the adviser and the
organisation with which the adviser is involved.
For example, if the adviser is employed by a bank or

building society, he or she is likely to be on a basic
salary plus commission or target related bonuses. In
this case the salary can typically be in the £20k to
£25k per annum band with commission or bonuses
adding another £5k to £15k per annum.
If the adviser is working for a mortgage brokerage

company then the salary is likely to be less (or even
zero) with the commission element much greater. In
this case the on target earnings are likely to be in the
range of £35k to £50k per annum.
Another option is that the adviser is completely self-employed possibly working under
the umbrella of a network. Obviously in this situation there is no basic salary and all
of the adviser’s earnings are from commission and broker’s fees. Typically a self-
employed broker can be looking to earn anywhere from £30k to £70k or more per
annum. In this case the earnings are purely determined by the adviser’s work rate and
ability to help his clients. The more mortgage deals arranged by the adviser, the more
money will be earned.
The Certificate in Mortgage
Advice and Practice (CeMAP)
An Introduction to CeMAP
CeMAP is the most popular
qualification for mortgage advisers and
it fulfils the FSA requirements of a
threshold qualification for a person
who wishes to become a mortgage
adviser. Without this qualification, or
similar, it is impossible to offer advice
on mortgages.
The qualification was introduced after

many years of voluntary self-
government and codes of practice
within the industry, as a result of
consumer demand for more regulation.
The CeMAP qualification forms the
foundation upon which all further
mortgage adviser knowledge is built.
Once qualified with CeMAP the person

is ready to begin their role as a
mortgage adviser. The employer will
take any new recruit through what is
known as the ‘Competent Adviser’
programme which will introduce them
to the company methods, products and procedures.
Once the adviser has completed this programme, he or she will be able to offer
mortgage advice unsupervised. So CeMAP is the ‘key to the door’ for a career as a
mortgage adviser, and in the following pages we will examine the syllabus and the
exams in more detail.
The CeMAP Exam Format
CeMAP is divided into three exams, CeMAP
1, 2 and 3. These exams are all conducted at
the local driving theory test centre and they
are all computer based multiple-choice
exams. The examining body for CeMAP is
the ifs School of Finance who produce the
syllabus and the exam questions.
The pass mark for each exam is 70%, with a

Merit grade being awarded at 80% and a
Distinction at 90%. To operate as a mortgage
adviser it is only necessary to pass all of the
exams, it is not necessary to obtain higher
level passes.
Because the exam system is computerised,

you will be told your result at the exam centre
immediately after you finish your exam.
Written confirmation is then sent to you
directly from the ifs School of Finance.
When you have successfully completed all three exams, the ifs will then issue your
certificate, which is the final recognition that you have reached the necessary standard
to begin your career as a mortgage adviser.
The CeMAP 1 Exam Syllabus
CeMAP 1 is split into two units, Unit 1 and Unit 2.
This part of the qualification is designed to provide
an overview of the financial services industry and
the legal and regulatory framework around which
the industry operates.
Unit 1 contains the following topics:
The UK Financial Services Industry
Financial Assets
Financial Products
The Financial Planning and Advice Process
The Main Areas of Financial Advice
Basic Legal Concepts Relevant to Financial Services
The Financial Services Authority
Money Laundering
Complaints and Compensation
Data Protection
Other Laws and Regulations Relevant to Advising Clients.
Typical CeMAP 1 Exam Questions
Here are a couple of typical CeMAP 1 exam
questions, the first is from Unit 1 and the Second
from Unit 2. The questions are presented with their
multiple-choice answers – see if you know the
correct answer before checking at the bottom of the
page!
Unit 1 Question
Which of the following financial needs usually

becomes the priority on becoming a parent?
a) Investment.
b) Pensions.
c) Protection.
d) Savings.
Unit 2 Question
Which of the following facts must be included on all quotations regulated by the
Consumer Credit Act 2006?
a) The annual percentage rate.
b) The Bank of England base rate.
c) The lender's registered office address.
d) The purpose of the loan.
Correct Answers – Question 1 - c), Question 2 - a)
The CeMAP 2 & 3 Exam Syllabus
CeMAP 2 and 3 both follow the same syllabus, only
the exam style is different. For CeMAP 2 the exam
questions are single question, with fact based
answers, whereas CeMAP 3 is examined using 6
case studies each of which has 10 questions.
Looking first at CeMAP 2, the exam is split into

four units, Unit 3, 4, 5 and 6. Each unit is tested
using 25 questions and you must achieve 70% in
each unit to pass the complete exam. This exam is
where the syllabus goes into detail on mortgages, the
mortgage industry and products.
Borrowers
Mortgage and Property Regulation and Law
The House Buying Process
From Offer of Advance to Completion
The Economic and Regulatory Context of Mortgage Advice
The Role of the Mortgage Adviser
Assessment of Status
Assessment of Security
Guarantees and Additional Security
The CeMAP 2 & 3 Exam Syllabus - Continued
Looking now at the syllabus for Units 5 and 6.
Mortgage Repayment Methods
Mortgage Products and Schemes
Other Mortgage-related Products
Further Advances and Remortgaging
Arrears, Debt Management and Recovery
Other Post-completion Matters
As stated earlier, you need to reach 70% in each of the four sections in order to pass
CeMAP 2, however, if you only fail in one unit, then you only have to re-sit that unit.
So, for example, if you fail Unit 5, then you only have to re-sit that unit in order to
pass the CeMAP 2 exam.
The same also applies with the two units in CeMAP 1, if you fail one of the units then
you only have to re-sit that one unit.
Here are four typical CeMAP 2 exam
questions, one taken from each of the four
units. Again the questions are presented with
their multiple-choice answers. See if you can
answer them correctly before looking at the
answers.
Unit 3 Question
Which of the following is true of covenants?
a) They are imposed by the Land Registry.
b) They are passed on with the property.
c) They indicate a right one person has over

the property of another.
d) They 'run with the buyer'.
Unit 4 Question
Alison, a self-employed consultant, has applied for a remortgage. Which of the

following is her new lender least likely to ask to see when verifying the information
on her application form?
a) A business plan.
b) A self-assessment tax calculation.
c) Existing mortgage account statements.
d) Profit and loss accounts covering recent years.
Typical CeMAP 2 Exam Questions - Continued
Continuing with the typical CeMAP 2 questions
for Units 5 and 6.
Unit 5 Question
Adam and Julie both have £80,000 25-year

repayment mortgages. Adam's mortgage has a
fixed interest rate of 4.75% and Julie's mortgage
has a capped rate of 5.50%. Both rates apply for
two years. Which of the following statements is
true?
a) Julie may pay less than Adam at some point.
b) Julie's payments will increase in the third year.
c) Adam will pay a lower rate than Julie in the

third year.
d) Adam will pay less than Julie throughout the first two years.
Unit 6 Question
Which of the following types of mortgage arrangement is least likely to have its term
extended as a way of dealing with arrears?
a) ISA mortgage.
b) Repayment mortgage.
c) Unit-linked endowment mortgage.
d) With-profits endowment mortgage.
Correct Answers – Question 3 - b), Question 4 - a), Question 5 - a), Question 6 - d)
CeMAP 3 questions are based around 6 case
studies, with 10 questions for each case. Here
we will give you an example of one case study
and four of the ten questions that relate to that
case.
Case Study - Description
Alan, aged 34, and his girlfriend Dianne, aged

32, wish to jointly buy a property. They have
just made an offer on a house, which has been
accepted. They have applied for a 90%, 20-year
mortgage from Sharkey’s Bank.
Whilst they are both very happy with the

property, Alan is anxious to ensure the electrical
system is up to modern standards. He has asked
if any electrical faults would be revealed in the normal mortgage process.
Alan is a sales manager and has worked for his employer for two years. His basic
salary is £34,000 plus commission, which was £8,000 last year but likely to be
approximately £2,000 this year. Dianne started as a full-time designer for a furniture
store seven years ago, but now only works part-time.
Dianne receives maintenance payments of £80 per month from her ex-husband. Alan
receives an income of £1,200 p.a. from a trust set up by his grandfather and will
continue to do so until he reaches the age of 60.
Alan and Dianne have been offered a variable rate mortgage with a 3% discount for
the first three years, but they have not yet decided upon which repayment vehicle to
use. Alan favours an ISA as the repayment vehicle. Dianne has a more cautious
attitude, and prefers a capital and interest mortgage.
The Bank has valued the property in order to assess its adequacy for mortgage
purposes.
CeMAP 3 questions 1 and 2:
Question 1
When assessing Alan and Dianne's borrowing capacity:
a) details of Dianne's previous employment are likely to

be required.
b) Dianne's earnings will not be taken into account.
c) the maintenance payments from Dianne's ex-husband

may be taken into account.
d) the annual income from the trust fund cannot be included.
Question 2
When considering Alan's income for mortgage purposes, Sharkey’s Bank is likely to
request:
a) a detailed breakdown of the £8,000 commission earned last year.
b) details of his pension arrangements.
c) details of any benefits in kind.
d) the extent to which commission income is guaranteed.
CeMAP 3 questions 3 and 4:
Question 3
Taking into account Alan's concern regarding the

property, of what should he be advised regarding
the standard mortgage process to satisfy his
concerns?
a) A full building survey would cover his

requirements.
b) A Home Buyer's Report would provide

sufficient detail at an economic cost.
c) No standard survey product will be adequate for

his purposes.
d) The valuation already carried out would have revealed all significant problems.
Question 4
The 3% interest rate reduction in the second year of their proposed mortgage product:
a) is treated as deferred interest which will increase payments starting from year 4.
b) is a genuine saving which need not be repaid if the mortgage is maintained.
c) will increase payments in year 3.
d) will be added to the capital owed.
Correct Answers – Question 1 - c), Question 2 - d), Question 3 - a), Question 4 - b)
CeMAP Live Exam Format
The CeMAP exams are held at the Pearson Vue
Driving Theory Test Centres, and there are over
150 of these throughout the UK. This means that
there should be a test centre local to you.
The tests are conducted on touch-screen

computers in the same way as the driving theory
test. For CeMAP 1 the exam is effectively broken
into two parts covering each of the two units, so
you will be allocated 1 hour for Unit 1 and then 1
hour for Unit 2. For CeMAP 2, the exam session
is split into four parts of 30 minutes each for each
of the four units. CeMAP 3 is a single part exam
of two hours duration.
Some people ask whether the exams should be

taken in order, i.e. 1, 2 then 3. At The Herne
Group we strongly recommend that you take the
exams in number order. This is because CeMAP 1 provides an excellent grounding
and background to the whole of the financial services industry, so once this has been
studied, the student will have a good foundation on which to build.
CeMAP 2 then elaborates on the knowledge needed in relation to the mortgage

market, and then CeMAP 3 applies this knowledge to real world simulations.
The image below is a typical exam screenshot taken from a Mock Exam – the real
exam screen is almost identical to this.
National Differences in CeMAP for Scotland
Certain aspects of the mortgage adviser role
are different in Scotland when compared
with the rest of the UK.
In particular land law and the laws of

contract are different in Scotland. Because
of this, there is a different exam syllabus
for students who wish to operate as
mortgage advisers in Scotland, and this
syllabus covers the Scottish aspects of these
legal areas.
Training from The Herne Group

automatically includes information on both
exam syllabi with a clear indication of the
differences between the two exams. This
means that the student only has to study the
areas that are relevant to his or her exam.
Very few other companies offer training for
both sets of exams.
Once qualified, if the mortgage adviser wishes to move her business, for example
from Scotland to England, then she will need to ensure that she is fully conversant
with the different legislation that is involved.
England, Wales and Northern Ireland are all treated as the same for examination
purposes, only Scotland has a different syllabus.
CeMAP Questions Reviewed
Having had a chance to assess some typical
CeMAP questions, you may well be
wondering how hard the real exam will be.
In academic terms CeMAP is a HND level
qualification, or National Qualification
Level 3.
This means that it is supposed to be quite

demanding, after all, once qualified the
successful candidate will be advising
people on the largest single financial
decision they ever make. It is only
reasonable that the qualification to
undertake this role is exacting and
proportionate to the responsibility of the
role.
With the proper training anyone of

reasonable intelligence who is prepared to
work, should be capable of passing all three
exams.
At The Herne Group we believe in what is known as ‘blended learning’, a technique

that combines different training media so as to use all of the students primary senses
while studying. Using these techniques even people who haven’t studied for many
years quickly get into a routine that fits their lifestyle.
The next few pages will explore what makes The Herne Group training unique in the
market place, and the benefits that this brings to the students.
The Herne Group
Group CeMAP Blended Training System
It is a recognised fact that people have
different preferred learning styles, and
that by tailoring the training to a person’s
style it is possible to both increase the rate
of learning and also the depth of learning.
In other words, by working to the
students’ preferred styles, they learn faster
and more thoroughly.
The three main learning routes are visual,

auditory, and kinaesthetic; or seeing,
hearing and doing. Even more
interestingly, even though everyone has a
preferred style, if all three teaching styles
are combined, almost every student will
benefit from the variation.
The Herne Group trainers have been

aware of this information for many years
and have always used blended learning as
the way to ensure the most effective
training. This knowledge is also used to great effect in the CeMAP Virtual Training
Course, which is supplied on two PC CD ROMs at a cost of just £395 including VAT
and delivery.
This course is unique in the CeMAP training market in using visual training, audio
training and key fact workbooks – no other company has made the investment
required to provide such effective training. We also find that this course works better
than most classroom courses because the students can work at their own pace. In the
following pages we will explore in more detail how this works.
CeMAP Video Training
The video training element of the CeMAP
course is provided by 27 Computer Video
training courses, which will play on a PC or
Laptop. In these courses The Herne Group
senior trainer takes the student through the
complete CeMAP syllabus step-by-step.
For the student it is similar to being in a

classroom but on a one-to-one basis, just like
having your own personal tutor.
The information is presented clearly with the

help of on-screen bullet points to emphasise
the key learning points. If the student does
not understand anything, he or she can skip
back two or three minutes and repeat the
relevant information. Just like asking the
trainer to repeat something you missed.
This flexibility is one of the key strengths of this method of presentation, as a student
you never miss a key point, you can always repeat any section until you fully
understand the information.
The video training programmes are also supplied with a full index of contents so if
you simply want to revisit one piece of information for revision purposes, you can
quickly and easily locate that section.
CeMAP Audio Training
Sitting in a room for hour after hour trying to
concentrate on learning information is
probably on of the least effective ways of
studying. It is far more successful to break
the study into smaller sessions, certainly of
no more than 40 minutes each.
This is where the audio training programmes

are particularly effective. If you are studying
over a period of time, it is highly beneficial
for some of that study to be combined with
some other activity, for example, walking, a
visit to the gym, travelling on public
transport, etc.
In any of these situations, the audio training

material will be indispensable. The complete
syllabus is contained on the 27 MP3 files and
they can be transferred onto an MP3 player or iPod and then accessed any where, any
time.
Many students find that listening to the material each day as they travel to and from
work can greatly enhance the amount of information that they learn. Added together,
this travelling time can add up to thirty or forty hours of study per month.
Again, The Herne Group is the only company to provide the complete syllabus in
audio form.
CeMAP Key Facts
The Herne Group Key Facts books
complement the training package, giving the
students the opportunity to highlight areas of
special interest, write notes and add any extra
information that they feel in relevant.
The Key Facts books literally provide key

facts, no superfluous information, and no
padding. All of the facts that you need to know
to pass the exams are in these books.
Many of our students choose to print these

books, bind them and then add their own notes
and highlighting as they go through the
training videos.
These actions, of writing and highlighting, are

vital for the ‘doing’ learning style for students to cement the knowledge within their
minds. By engaging in this activity, the mind makes the information more solid and
tangible.
The Herne Group recommends that these sessions last no longer than 40 minutes and
then a different learning style is adopted, for example listening to the audio training
while taking a walk. In this way the student remains fresh and open to new
knowledge.
Full Tutor Support for CeMAP
One of the biggest fears that people
have with home study is, what if
there is something I don’t
understand? The Herne Group have a
simple solution to this, we appoint a
personal tutor for every student that
enrols on our course.
If any student has any problems at all

with understanding the material, they
can contact their tutor by e-mail and
they will then receive a full written
response that they can then print and
keep with their notes.
Typically the response is within 24

hours, and often much faster than
this. Using this system, the student
can study as and when he or she
chooses, and then simply contact
their tutor if any problems arise.
In fact, the material is so thorough

and comprehensive that many students hardly ever need to contact their tutors at all.
However, the safety net is there if needed, so that students know they have help at
hand if they ever find any part of the syllabus to be confusing. This support is
available for a minimum of twelve months from enrolment on the course.
Mock Exams for CeMAP
Finally, when you have completed your
studies and feel ready for your final exams, the
training course has mock exams for you to
check your progress.
These exams are paper based and follow a

similar question format to the live, computer-
based exams. The questions enable you to
discover how well you have learned the
information and if there are any areas that you
need to revisit before your live exam.
When undertaking these mock exams, it is

recommended that you operate under exam
conditions and apply a strict time limit to each
part of the exam as would happen in the live
exams. This will give you a good idea of the
amount of time that you take to answer each
question, and whether you are working too quickly or too slowly for the actual exam.
After testing yourself, then the questions and answers can be used as additional
revision material to help you to prepare for the final exam.
In the live exam you are not allowed to take any paper or pens in with you, the test
centre provides everything that you need on the day, including a calculator.
All you need to bring is the knowledge to pass!
The Herne Group Customer Testimonials
The Herne Group is one of the longest established
CeMAP training companies in the UK, with a huge
number of satisfied customers.
Here are some testimonials from just a few of the

people who have achieved their dream of passing
CeMAP:
‘Just to let you know that I took my exam today. I got a

distinction in Introduction to the Financial Services
Environment & Products and a merit in UK Financial
Services and Regulation
Thanks for your help’ - Mr E. B.
‘Just to let you know that I took my CeMAP 3 exam

yesterday and passed 90%, distinction. I'm very happy with that!’ – Mr M. A.
‘I sat the UK Financial Regulation exam yesterday and passed, which I am extremely
happy about!’ – Ms A. D.
‘I passed CeMAP module 1 yesterday. It was tough but I did it. 90% -
Distinction pass. I wanted to say that I have found your training & revision manual
and the videos really helpful. They make learning the information easy.’ – Ms S. H.
‘Just to let you know I successfully passed CeMAP 3 on Thursday in

Dunfermline. May I take this opportunity to thank you for your help and
support throughout my study and wish you all the best for the future. Many thanks
again.’ - Mr T. C.
Continuous Professional Development (CPD)
Once you have passed your CeMAP exam,
you keep the qualification forever. When
you enter the mortgage industry, you will
then be maintained up to date using
Continuous Professional Development
(CPD) that will be provided by your
employer or network.
CPD will cover all of the aspects of the

industry that change over time, for example,
legislation, new products, or changes in the
benefits system that may affect you clients.
One aspect of the role that is refreshed and

retrained on a regular basis is money
laundering, one of the areas of knowledge
where any mortgage adviser must be proven
to be proficient on an ongoing basis.
The product sourcing software will keep the adviser up to date on new products on a
day-to-day basis, but any new product categories, for example, when new types of
mortgages are introduced, will be the subject of CPD training.
The Financial Services Authority does not proscribe the exact amount of CPD that is
relevant each year, but the regulations require that the advisers will maintain their
knowledge up to date and at a satisfactory standard.
~
We hope that this information has answered all of your questions

regarding CeMAP and the Mortgage Adviser Role.
Enrol Now by calling 01592 743131 and take the first steps on the
road to your new career.
If you have any further questions please either email
info@hernegroup.com
info@hernegroup.com
Or
Call 01592 743131 for full personal advice.
Remember, the most comprehensive CeMAP Home Study Course

available today can be yours for just £395 including VAT and
delivery.

CeMAP Guide

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CeMAP Guide

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05/10/2009

Welcome to Your Guide to the Mortgage Industry and CeMAP where

The CeMAP exam is also surrounded by much myth and speculation

All Rights Reserved.

This rare contact tends to lend the mortgage

The industry has also been through some

The mortgage adviser has to assess the client and

The most important tool the mortgage adviser has

So the adviser has help with this knowledge,

An experienced adviser is able to rapidly examine the products recommended by the

The ability most needed by a mortgage adviser is to be

The ability to listen, to communicate clearly and to

All of this information is relevant when advising the client on a long-term

For example, does the client have life insurance,

How well is the client covered for eventualities

If the client has a family then these questions are

In many ways older people who

For this type of adviser the working day is likely

Alternatively, it is possible to work either self-

For example, if the adviser is employed by a bank or

If the adviser is working for a mortgage brokerage

The qualification was introduced after

Once qualified with CeMAP the person

The pass mark for each exam is 70%, with a

Because the exam system is computerised,

Unit 1 contains the following topics:

The UK Financial Services Industry

The Financial Planning and Advice Process

The Main Areas of Financial Advice

Basic Legal Concepts Relevant to Financial Services

Unit 2 contains the following topics:

The Financial Services Authority

Complaints and Compensation

Other Laws and Regulations Relevant to Advising Clients.

Which of the following financial needs usually

a) The annual percentage rate.

b) The Bank of England base rate.

c) The lender's registered office address.

d) The purpose of the loan.

Correct Answers – Question 1 - c), Question 2 - a)

Looking first at CeMAP 2, the exam is split into

Unit 3 contains the following topics:

Mortgage and Property Regulation and Law

The House Buying Process

From Offer of Advance to Completion

The Economic and Regulatory Context of Mortgage Advice

Unit 4 contains the following topics:

The Role of the Mortgage Adviser

Guarantees and Additional Security

Unit 5 contains the following topics:

Mortgage Repayment Methods

Mortgage Products and Schemes

Other Mortgage-related Products

Unit 6 contains the following topics:

Further Advances and Remortgaging

Arrears, Debt Management and Recovery

Other Post-completion Matters

Which of the following is true of covenants?

a) They are imposed by the Land Registry.

b) They are passed on with the property.

c) They indicate a right one person has over

d) They 'run with the buyer'.

Alison, a self-employed consultant, has applied for a remortgage. Which of the