The CeMAP qualification is the exam that all qualified mortgage advisors must have. It covers mortgage industry products and certain FSA (Financial Services Authority) guidelines. CeMAP stands for the Certificate in Mortgage Advice and Practice.
It is made up of three modules: CeMAP 1, 2 and 3. CeMAP 1 is one syllabus and exam and CeMAP 2 and 3 are two separate exams, which share the same syllabus.
The CeMAP qualification also covers mortgage associated products such as life insurance, buildings and contents insurance, critical illness cover, etc.
CeFA is aimed at financial advisors, so covers a wider variety of industry products. CeFA stands for Certificate in Financial Advice and is made up of four modules, namely CeFA 1, 2, 3 and 4.
One of the reasons why people get the two exams mixed up is that CeMAP 1 and CeFA 1 are the same, which can seem confusing. The syllabus for each of these is exactly the same and the exam you would take is exactly the same. All the other exams are completely different. CeMAP 2 and 3 concentrate on mortgage advise and mortgage-related products whereas CeFA 2, 3 and 4 concentrate on products in the financial services industry.
One tip we would have for you is that if you are unsure whether you want to train as a mortgage advisor or as a financial advisor, then we would suggest taking your CeMAP 1 first. If you then decide you would prefer to be a financial advisor, then the module is interchangeable and you can count it towards your CeFA qualification.