CEMAP 2 & 3 – Free Content
The final stage of your CEMAP Qualification is completing CEMAP Module 2 and 3 Exams. The exams for the modules will need to be taken separately, and it’s recommended that CEMAP Module 2 is completed first and then CEMAP Module 3.
CEMAP Module 2 teaches Mortgage Law, Mortgage Applications, Mortgage Payment Methods & Products and Arrears & Repossession. Although this may seem like a lot of information to take it, this module is considered easier than CEMAP 1 as the information is easier to understand and follow.
CEMAP Module 3 is the final step towards your Qualification, and the exam requires you to use the information from the previous modules and apply it to scenarios given in the exam. It’s essential to have a good understanding of everything that has been taught up to this stage before taking the CEMAP Module 3 exam. We provide several Mock Exams to our students with questions that are very similar to the real exam questions.
Below you will find our free CEMAP 2 and CEMAP 3 content. Please note that this content is just a very small part of the full course. We’re not currently able to offer the free content on Unit 7 as this is mainly exams, if you purchase the full course then you will have full access to the mock exams and Unit 7.
CEMAP 2 & 3 Free Content
Rules Apply to Lenders and Advisers
CeMAP ® 1 incorporated the significance of the markets, covering an entire array of products, including regulation. CeMAP ® 2 will concentrate on home loans explicitly and will take a look at the sales process in line with matters relating to both mortgages advising as well as lending. We focus on the laws, strategies, and practices that influence contracts, including land law and mortgage law. Others are the law of the agency and the law of contract.
We will at this point consider all there is before the mortgage application, entailing affordability and the suitability of advice. Furthermore, insurance policies and diverse kinds of mortgage accessible for customers will be considered next. On the final note, we look at post-completion, including mortgage arrears.
CeMAP 2 deals with technicalities and the regulatory rules as it concerns the sale process in mortgage matters. The test is based on a 2-hour multiple-choice exam to be conducted online which is divided into four half-hour tests of 25 questions with 70% as pass rate; as stated below:
- Mortgage Law, Policy Practice and Markets
- Mortgage applications
- Payment methods and products
- Mortgage Arrears and Post Completion
- Mortgage Conduct of Business sourcebook
An adviser must understand the client’s need and also financial situation using their circumstances. The advice must be based on their present circumstances and must be in the best interest of the client. The MCOB rules are necessary for the best mortgage solution and recommendation.
Unit 5 discusses repayment methods and related products. This includes Mortgages, Essential Insurance and various other repayment products that are available. A mortgage advisor needs to understand the various repayment methods available so that they can suggest the best products based on their client’s circumstances.
Arrears & Repossessions
Unit 6 focuses on Arrears & Repossessions. This unit also includes increasing borrowing and changes to a mortgage contract. The main focus however, is on arrears and the various circumstances and options available to customers should they fall into arrears.
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CeMap is provided & awarded by The London Institute of Banking & Finance.