Before you can become a mortgage advisor, you need to pass the CeMAP exams, so how can you give yourself the best chance of achieving this?
Understand the structure of the CeMAP exams
There are seven CeMAP exam papers spread over three modules. Module 1 has two units consisting of 50 multiple choice questions each. Each paper must be completed within one hour. Unit 1 has general financial services and product questions, while Unit 2 asks questions on UK Financial Services and Regulation.
Module 2 has 4 units, each of which has 25 multiple choice questions that must be answered in 30 minutes. Unit 3 is on mortgage law, practice and markets. Unit 4 is about mortgage applications. Unit 5 has questions on mortgage payment methods and Unit 6 tests candidates on mortgage arrears and post-completion issues.
Module 3 has just one unit, Unit 7, which gives you two hours to review six case studies and answer ten multiple choice questions on each of them.
The pass rate is high at 70%, and as you can see by these brief descriptions, the units cover a wide range of subjects.
Answer past questions
The first strategy to pass the CeMap exams is to get hold of past CeMP exam questions and study them. Obviously, the same questions will not come up in your exams, but you will get a feel for the type of questions that could be asked.
After studying, if you can consistently get a score of 70% or more on old exam questions, you can be confident that you have an excellent chance of passing the real exam.
Learn to pace yourself. Answering 50 questions in an hour means that you can afford to spend at least one minute on each question. As these are multiple choice questions requiring no text, spend the time carefully considering your answers. If a question is too difficult at first, come back to it later rather than dithering on one question.
Your CeMAP training course will prepare you for the exam and make the CeMAP study manual easier to understand. It is recommended that you also take some time to revise what you have learned before taking the CeMAP exams.
Schedule study time around your busy work and family life. Set aside a regular time and commit to that time. Don’t study for too many hours as it could exhaust you, but take breaks and have plenty of sleep.
Make your study space comfortable. Study on a sofa, but not on a bed as you could be tempted to fall asleep. Eliminate distractions, turn off your phone, television, computer and other electronic devices. Some people find that music can help, but relaxing instrumentals are usually better.
Tell your family or people that live with you to not disturb you during your study time.
Ask for help
Beacon Financial Training CeMAP courses are the best way to prepare for the CeMAP exams. Our expert tutors are available to answer all your queries, are dedicated to your success in passing the all-important exams.