As we have mentioned in earlier articles, there are two units in CeMAP 1:
CeMAP 1 Unit 1: The Financial Services Environment & Products
CeMAP 1 Unit 2: UK Financial Services Regulation
Each of these units cover specific areas, which are listed below:
Unit 1
The UK Financial Services Industry
Financial Assets
Financial Products
The Financial Planning Advice Process
The Main Financial Services Advice Areas
Basic Legal Concepts relevant to financial services
Unit 2
The FSA (Financial Services Authority)
Money laundering
Complaints and Compensation
Data Protection
Other advice related laws and regulation
You must pass both units to achieve the CeMAP 1 qualification. Each unit consists of 50 multiple choice questions and you have one hour to complete each unit. If you fail one unit, you only have to resit that one particular unit in order to pass.
Many people find that CeMAP 1 is a dry subject when compared to CeMAP 2 and 3. This is usually because CeMAP 1 covers a wide area of the financial services industry, not just mortgages, which, let’s face it, if you want to study for your CeMAP that is what you want to learn about. However, a good CeMAP training course can make the CeMAP 1 syllabus enjoyable – or as enjoyable as it can be anyway 😉
