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 to revisit this qualification in more detail in 2022 – module by module to provide a more detailed and up to date account of the whole qualification. In this blog, we will cover the second module known as CeMAP 2.
We will release further videos and blogs on the additional modules known as CeMAP 1 & 3. When these are posted we will be sure to link those here:
The good news is that the hardest part may well be over, as many find CeMAP 1 to be the most difficult module out of the 3.
Even Beacon Financial Training, one of the recognised ALSPs says that, in regard to CeMAP 1 “By doing CeMAP 1 first, you will have done the hardest part for most people and many people find CeMAP 2 & 3 relatively easy after CeMAP 1.”
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.
Module 2 – Mortgages (MORT)
Mortgages is the second of three modules for the CeMAP qualification commonly known as ‘CeMAP 2’ and consists of four separate units:
- Unit 3: Mortgage Law, Policy, Practice, and Markets
- Unit 4: Mortgage Applications
- Unit 5: Mortgage Related Protected Products (If you have already completed the Certificate in Protection, CertPro, then you will be exempt from unit 5)
- Unit 6: Mortgage Payments Methods and Post Completion Issues
We covered Unit 1 & 2 in our last blog, A guide to CeMAP 1, so make sure you check this out if you haven’t already.
How is CeMAP 2 tested?
All 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 two later in this blog.
How long does CeMAP 2 take?
The entire length of CeMAP is 6 – 12 months so it is likely that CeMAP 2 will take around 2 – 4 months to complete.
The beneficial thing with CeMAP, as stated by the LIBF, is that “everything is online, you can study at a pace that suits you” meaning unlike more traditional qualifications where you have to take hours of in-person study, the LIBF allows students to fit the qualification alongside their personal commitments and work life.
What does CeMAP 2 cover?
Clarity Financial Training states that your studies will cover:
- The house buying process
- Buying property at auction
- The Mortgage Conduct of Business Rules
- The economic and regulatory context for giving mortgage advice
- The role of a Mortgage Adviser and providing advice
- Types of security
- Fees and charges involved in arranging a mortgage
- Property defects and their implications
- Principal factors affecting the value of property
- Types of valuation and surveys
- Types of mortgage and their features
- Mortgage related protection
- Additional finance and debt consolidation
- Mortgage arrears and other breaches of the Mortgage Deed
- Legal rights and remedies available to lenders in respect of non-payment from the borrower
How much does CeMAP 2 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 2 (MORT) – £90
- 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
- Accredited learning providers – Price can vary depending on provider
How to study for CeMAP 2
Units 3 and 4 with 25 multiple-choice questions, unit 5 with 20 multiple choice questions, and unit 6 with 30 multiple choice questions.
The best way to study for CeMAP 2, in our opinion, is to focus on the exam type which conveniently for all units in CeMAP 2 is multiple-choice questions (MCQ). This will be ideal for you as you likely can use the same methods used to study for CeMAP 2. If you missed our last blog, we recommended a few tips before you start revising:
- 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.
Which course provider to use for CeMAP
This is a very frequent question we get here in relation to the CeMAP qualification, and we always answer the same. We recommend people refer to the list of Accredited Learning Support Providers provided by the LIBF. For the CeMAP qualification this includes:
|Quilter Financial Adviser School|
|Beacon Financial Training|
|Clarity Financial Training|
|Futuretrend Training Academy|
Alternatively, if you are looking to study for your CeMAP 2, check out Financial Services Academy, who are developing interactive revision tools to help you revise on the go.
CeMAP 2 FAQs
- Does CeMAP 2 expire?
No. The CeMAP qualification does not expire.
- Can I put CeMAP after your name?
Yes. But after you complete the full CeMAP qualification – one more module to go after this one!
- 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 2 multiple choice?
Yes. All units in CeMAP 2 are tested using multiple-choice questions.
- How many CeMAP levels are there?
There are 3 CeMAP modules.
It is worth noting that we are currently preparing a Q&A blog & video to cover CeMAP FAQs in more detail. If there are any questions that you would like answered or ones that you feel others would benefit from knowing, please get in touch at email@example.com or on 0208 0040 896.
CeMAP 2 is the midway point in achieving your full CeMAP qualification, so it is crucial that you continue the solid start that you hopefully made in CeMAP 1 set you in good stead for the rest of the qualification.
Before you qualify, it is really important that you have a plan for after the qualification. We recommend you check out our dedicated page for Mortgage Advisor jobs so you can see what’s available in your area.
We recommend you have a free, confidential and no-pressure chat with one of our experienced Financial Services Recruitment Consultants. They will be able to talk through any options that may be available to you, advising and supporting you throughout the recruitment process free of charge!