Some of our most popular content here at Premier Jobs UK covered the CeMAP qualification. However, at this point, some of this content is over a year old. As such, we thought it would be useful in 2023 to revisit this qualification in more detail – module by module to provide a more detailed and up to date account of the whole qualification. Starting with CeMAP 1.
In this blog we will cover the first module of CeMAP which is commonly known as CeMAP 1, we will release further videos on the additional modules, CeMAP 2 & 3. When these are posted we will be sure to link those here:
What is CeMAP?
The Certificate in Mortgage Advice and Practice (CeMAP) is the industry-standard qualification for Mortgage Advisor’s and is provided by the London Institute of Banking and Finance (LIBF). Many businesses and Mortgage Advisors alike view CeMAP as the go-to Mortgage Advice qualification so if you are looking for a career as a Mortgage Advisor this is the place to start!
What is a Mortgage Advisor?
Mortgage Advisors help their clients find the best mortgage deal for purchasing their homes, for many it will be their first time so you will assist them throughout the process. You will build relationships with various clients and learn about their circumstances to provide them with the best available deal.
UK Financial Regulation is the first of three modules for the CeMAP qualification commonly known as ‘CeMAP one’ and consists of two separate units:
- Unit 1 – Introduction to Financial Services Environment to Products
- Unit 2 – UK Financial Services and Regulation
How is CeMAP 1 tested?
Both units are tested using a two-hour Pearson VUE electronic exam each with 50 multiple-choice questions.
The exams can be taken at a time and location of your choice at over 150 Pearson VUE test centres across the UK with the benefit being that you will receive your results on the same day.
You will have 12 months to complete each module and sit the exam. Your first exam is included in the registration fee for each module. If you wish to retake an exam you will need to pay a resit fee. We will go more into the fees associated with CeMAP one later in this blog.
How long does CeMAP 1 take?
The entire length of CeMAP is 6 – 12 months so it is likely that CeMAP 1 will take around 2 – 4 months to complete.
What does CeMAP 1 cover?
The LIBF state that:
“Your studies will cover:
- Purpose and structure of the UK financial services industry
- Financial Conduct Authority (FCA’s) main aims and activities
- Rules and regulations and the FCA’s approach to regulating firms and individuals
- The main areas of financial advice, asset classes and financial services products
- The impact of socio-economic factors on personal financial plans”
More specifically your studies will cover:
- The UK financial services industry structure
- Financial asset classes
- Financial services products
- Financial advice and regular reviews
- Basic legal concepts
- UK taxation
- The benefits system
- Interest rate volatility
- Non-tax laws
- Conduct of business rules
- Anti-money laundering rules
- Complaints and compensation
- The EU General Data Protection Regulation
- European Directives
How much does CeMAP 1 cost?
- Module cost – £190
- Total qualification cost – £570
All fees are taken from the LIBF
- Exam resit fee – £160
- Login to your MyLIBF account to resit an exam.
- CeMAP Revision Tool (CRT) Module 1 (UKFR) £120
- Additional revision tool modules, which are only relevant to the CeMAP® qualification, can be bought in a bundle that includes UKFR. By purchasing in a bundle there is a discount offered in comparison to the individual purchase of these modules.
- Specimen Papers (paper copy) – £28 per paper
- Ask The Experts (online tutor support) – £30 for 3 months
- CeMAP Tuition Videos – £99
- Accredited learning providers – Price can vary depending on provider
How to study for CeMAP 1
The best way to study for CeMAP 1, in our opinion, is to focus on the exam type which conveniently for both units in CeMAP 1 is multiple-choice questions (MCQ). Some of our tips would be:
- Know the content – Although this may sound obvious, this is even more important because you can’t make up for a lack of knowledge by using good writing technique as you could in other exams. MCQs are black and white in that if you are right you are right there are no partial marks awarded for partial understanding
- Create your own questions – A great way to recap your learning is by creating practice questions for yourself. When you receive the study guide, it is advisable that you work through the text and create a note of all the important information. A good way of doing this would be to use cue cards writing the question on one side and the answer on the other. Then, after you have studied you can test your recall by going through the questions, calling out the answers and flipping the card over to see if you got the right answer. Another way of creating this is through using the headings / subheadings for inspiration
- Create a study schedule – View this as a plan that will get you to the point where you ace the exam. Utilise the known study techniques to your advantage to ensure you are working smarter and not harder!
There are loads more great resources with more information regarding how to answer MCQs so it can be worth going through these to see if you get any inspiration.
If you are looking to study for your CeMAP 1, check out Financial Services Academy, who are developing interactive revision tools to help you revise.
CeMAP 1 FAQs
- Does CeMAP 1 expire?
No. The CeMAP qualification does not expire.
- Can I put CeMAP after your name?
Yes. But after you complete the full CeMAP qualification.
- Who should I go to for additional support?
The LIBF has posted a list of Accredited Learning Support Providers which you should go to.
- Is CeMAP equivalent to a degree?
No. Cemap is a Level 3 qualification
- Is CeMAP 1 multiple choice?
Yes. Both units are tested using multiple-choice questions,
- How many CeMAP levels are there?
There are 3 CeMAP modules.
CeMAP 1 is the first step to achieving your full CeMAP qualification, so it is crucial that you make a solid start that will set you in good stead for the rest of the qualification.
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