CEMAP 1 - Free Content & Mock Exams

Full CEMAP 1 Course

CEMAP 1 – Free Content

Starting a new career as a Mortgage Advisor is exciting and rewarding. The first step towards your new career is to gain your CEMAP Qualification. CEMAP stands for Certificate in Mortgage Advice and Practice, and this is required to become a qualified mortgage advisor in the UK. 

CEMAP is divided into three modules (CEMAP 1, CEMAP 2 and CEMAP 3) Each module has a test, and once you have passed the three individual tests, you will be a qualified mortgage advisor. Although the CEMAP tests can be given in any order, it is strongly advised that CEMAP 1 is completed first as this will lay the foundations for the remaining two modules.

Module 1 is considered the most difficult as it teaches the basics of the UK financial system, Financial Products, Planning and various Legal concepts. 

uAcademy provides courses for all modules which can be purchased separately or as a full course. We understand that choosing the right course provider is a big decision, and as there are several CEMAP Course providers online, it can be extremely confusing which course to go with. uAcademy was created by Mortgage Advisors to help students study by providing the most in-depth, up to date and interactive courses at an affordable price. We have set our course prices to be the lowest online to make our courses accessible to all. We use industry-leading software for our courses that can be used on various devices such as desktop, tablet and smartphones. 

We’ve added our free course below which contains content from Unit 1 and 2 from our CEMAP 1 Module. Please feel free to go through the free content so that you have an idea of how the full paid course is set. 

CEMAP 1 Free Content


CEMAP 1 – Unit is and Introduction to FINANCIAL SERVICES.

By the end of this unit you will be having a good understanding of the following:

CEMAP 1 Course Free Content & Mock Exam |



Financial firms such as Banks, Insurance companies, wealth management services are classed as Financial Markets. These companies are some of the most highly regulated sectors in the UK.

The two main objectives of the regulations are:

CEMAP 1 Course Free Content & Mock Exam |

Regulation in financial markets is essential as it provides consumers with assurance that their money is safe and removes the fear of losing the money by the firms due to the regulations. The regulations not only help consumers but also businesses and the government to maintain a stable economy.

CEMAP 1 Course Free Content & Mock Exam |

The regulations are also required to allow the financial firms to make a profit. Financial firms are essential to the economy as they allow consumers to grow their money through investments, store money and also allow consumers to borrow money.

Unit Two: UK Regulations


Unit 1 explored how individuals require access to financial products daily. The deficit sector has access to funds by borrowing and product providers make profits. Financial products also gives individuals the ability to protect their income and dependants as well as making gains. We now know the importance of financial firms and the reason why financial intermediaries like the banks, companies and investment organisations should be thoroughly regulated since the system needs to be maintained and consumers need to be protected. Each of the financial organisations offers different kinds of products and services for the consumers. The need for regulation is very important for consumers but the financial firms should still make profits. This is known as the twin objectives.

UK financial regulation is achieved by supervising firms and setting rules for the firms and their employees. There has been concerns that financial institutions are losing touch with consumers and solely focusing on making profits. This has led to the government introducing sponsored schemes such as the Competition Commission, Money Advice Service and Which.

Although governments try to foresee problems and to introduce legislation as a means of ‘prevention rather than cure’, it remains true that most regulatory legislation in the past has been reactive rather than proactive, in other words it has been passed in response to problems, rather being designed to foresee and prevent problems. Legislation has often resulted from:

  • particular scandals or crises, many of which have arisen over the years, most recently for example the events surrounding the collapse of Barings Bank in the 1990s and the continuing troubles of Equitable Life. These have shown up the need for prudential control and for protection against mismanagement and fraud;
  • an increase in consumers’ financial awareness and a demand for a more customer-focused business approach: for instance, demands for a ‘one- stop-shop’ approach to financial services sales was instrumental in the move to deregulation of banks and building societies in the past 20 years or so;
  • the need to respond to changes in lifestyle: for instance, more relaxed attitudes to marriage and divorce in recent years have led to a strengthening of the rights of divorcees to share in former spouses’ pension benefits;
  • developments in business methods: technological advance in particular has fuelled many changes in the last years of the 20th century and the early part of the twenty-first; this is particularly true for banks and building societies, whose customers now can and do carry out many of their transactions electronically;
  • innovation in product design: rapid expansion has been seen in the ranges of certain products, particularly in mortgage business. This has made it more important than ever that a consumer should be provided with sufficient clear information about the features and benefits of the products they are buying;
  • the increase in the number and complexity of financial products: this has made it more necessary to provide customers with information and advice.

Now, however, there is a strong move towards a culture of recognising and preventing problems before they arise, where possible, rather than simply picking up the pieces afterwards and allocating blame and punishment (although the ability to do the latter has not been discarded)

We now have the twin peaks model of regulation through the Financial Services Act 2012.

The present regulatory system involves the Financial Policy Committee (FPC) as well as recently formed regulators – Prudential Regulation Authority (PRA) and the Financial Conducts Authority (FCA). They now control the Financial Services Compensation Scheme (FSCS). The FCA also took responsibility of the FOS along with the Money Advice Service.

Financial-services Act 2012

The Financial-services Act 2012 came into effect as a result of prudential regulation failure when the credit crisis hit (the failing of Northern Rock) and the recent issues of unethical behaviour after mis-selling scandals. The confidence in financial firms was damaged with the mis-selling of PPI, endowments and pension transfers, including the LIBOR scandal. All of this generated unwillingness on the part of consumer to do business within the financial firms.

It’s essential to protect consumers as this will make them confident in dealing with financial institutions which will in turn help the flow of money around the economy.

Financial advice is given by qualified financial advisors who should use their skills, expertise and provide full product disclosures to their clients.

The regulations covers 2 main areas where consumers may be vulnerable when dealing with financial firms, this is Prudential Risk and Conduct of Business Risk

  • Prudential regulation rules require financial firms to hold sufficient capital and have adequate risk controls in place. Close supervision of firms ensures that regulators have a comprehensive overview of their activities so that they can step in if firms are not being run in a safe and sound way or, in the case of insurers, if they are not protecting policyholders adequately. The Prudential Regulation Authority (PRA) at the Bank of England is responsible for this prudential regulation and supervision of around 1,500 banks, building societies, credit unions, insurers and major investment firms


  • The Conduct of Business Regulation monitors how a firm conducts their business in terms of their sales and marketing of financial products and services for it’s customers.

As a result of the changes caused by lifestyle good quality advice is essential. Consumers tend to be borrowing more and saving less. Financial products are becoming more complex and laws are changing. There are now more rights for people getting a divorce which in turn could affect assets. There is also a shift towards online sales and financial products purchased online, due to this good advise and information is essential.

CEMAP Module 1 Full Course

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