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 😉