The Certificate of Mortgage and Practice, also known as CeMAP, is a qualification specifically designed for those seeking to professionally offer mortgage advice and act as a broker. Here in Britain, the Financial Conduct Authority (FCA) insists that all practicing advisors have the skills and experience to practice their trade professionally, and by completing all CeMAP levels, would-be brokers can meet this requirement.
There are three different levels of CeMAP, encompassing seven individual units. In this article, we’ll examine the three CeMAP levels and detail what topics are covered and how each stage is assessed.
CeMAP Level 1
Entitled UK Financial Regulation, or UKFR for short, CeMAP Level 1 starts with Unit 1, which introduces students to the financial services industry and the mortgage products available. This level also includes Unit 2, which offers candidates a grounding in the financial services and the regulations that govern brokers. CeMAP Level 1 concludes with a two-hour-long exam featuring multiple-choice questions.
CeMAP Level 2
Focused on mortgages, CeMAP Level 2 has four units that follow on from the numbering of Level 1. Unit 3 offers instruction on mortgage markets, policy practice and law, while Unit 4 details the application process. In Unit 5, protection products available for mortgages are explained, and in Unit 6, students will learn about mortgage payment methods and how to handle post-completion problems.
Like Level 1, to complete CeMAP Level 2, course candidates must take a two-hour exam consisting of multiple-choice questions.
CeMAP Level 3
The final CeMAP level, is called the Assessment of Mortgage Advice and Knowledge. It includes a single unit (Unit 7) and is designed to examine what level of understanding a mortgage broker in training has attained on the course.
To pass CeMAP Level 3, students must sit a two-hour exam that involves six different case studies and answer 10 multiple-choice questions on each.
Expert CeMAP mortgage advisor training at hand
At Beacon Financial Training, we provide second-to-none study courses for all three CeMAP levels. Taught by professional instructors who hold teaching qualifications and have expert knowledge of their subjects, our CeMAP courses are designed to provide would-be brokers with the skills and knowledge they need to practice as an advisor.
We understand that every student is an individual. As a result, we offer courses in three different formats: classroom, live webinar and online home study training. Book your course today and start learning.