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Timestamps
00:00 - Intro
1:01 - What is CeMAP?
1:26 - Mortgage Advisors
2:00 - CeMAP 1 (UKFR)
3:14 - What does CeMAP 1 cover?
4:29 - CeMAP costs
5:28 - How to study for CeMAP 1
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Some of our most popular content here at Premier Jobs UK covered the CeMAP qualification. However, at this point, some of this content is over a year old. As such, we thought it would be useful in 2022 to revisit this qualification in more detail – module by module to provide a more detailed and up to date account of the whole qualification. Starting with CeMAP 1.
In this blog we will cover the first module of CeMAP which is commonly known as CeMAP 1, we will release further videos on the additional modules, CeMAP 2 & 3. When these are posted we will be sure to link those here:
CeMAP 2
CeMAP 3
What is CeMAP?
The Certificate in Mortgage Advice and Practice (CeMAP) is the industry-standard qualification for Mortgage Advisor’s and is provided by the London Institute of Banking and Finance (LIBF). Many businesses and Mortgage Advisors alike view CeMAP as the go-to Mortgage Advice qualification so if you are looking for a career as a Mortgage Advisor this is the place to start!
What is a Mortgage Advisor?
Mortgage Advisors help their clients find the best mortgage deal for purchasing their homes, for many it will be their first time so you will assist them throughout the process. You will build relationships with various clients and learn about their circumstances to provide them with the best available deal.
We have extensively covered the ins and outs of what Mortgage Advisors do and how to become a Mortgage Advisor on our blog and YouTube channel.
Module 1 – UK Financial Regulation (UKFR)
UK Financial Regulation is the first of three modules for the CeMAP qualification commonly known as ‘CeMAP one’ and consists of two separate units:
Unit 1 – Introduction to Financial Services Environment to Products
Unit 2 – UK Financial Services and Regulation
How is CeMAP 1 tested?
Both units are tested using a two-hour Pearson VUE electronic exam each with 50 multiple-choice questions.
The exams can be taken at a time and location of your choice at over 150 Pearson VUE test centres across the UK with the benefit being that you will receive your results on the same day.
You will have 12 months to complete each module and sit the exam. Your first exam is included in the registration fee for each module. If you wish to retake an exam you will need to pay a resit fee. We will go more into the fees associated with CeMAP one later in this blog.
How long does CeMAP 1 take?
The entire length of CeMAP is 6 – 12 months so it is likely that CeMAP 1 will take around 2 – 4 months to complete.
What does CeMAP 1 cover?
The LIBF state that:
“Your studies will cover:
Purpose and structure of the UK financial services industry
Financial Conduct Authority (FCA’s) main aims and activities
Rules and regulations and the FCA’s approach to regulating firms and individuals
The main areas of financial advice, asset classes and financial services products
The impact of socio-economic factors on personal financial plans”
More specifically your studies will cover:
The UK financial services industry structure
Financial asset classes
Financial services products
Financial advice and regular reviews
Basic legal concepts
UK taxation
The benefits system
Inflation
Interest rate volatility
Non-tax laws
Anti-money laundering rules
Complaints and compensation
The EU General Data Protection Regulation
European Directives
How much does CeMAP 1 cost?
Module cost – £190
Additional fees
All fees are taken from the LIBF
Exam resit fee – £160
Login to your MyLIBF account to resit an exam.
Optional
CeMAP Revision Tool (CRT) Module 1 (UKFR) £120
Additional revision tool modules, which are only relevant to the CeMAP® qualification, can be bought in a bundle that includes UKFR. By purchasing in a bundle there is a discount offered in comparison to the individual purchase of these modules.
Specimen Papers (paper copy) – £27 per paper
Ask The Experts (online tutor support) – £30 for 3 months
CeMAP Tuition Videos – £99
Accredited learning providers – Price can vary depending on provider
How to study for CeMAP 1
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