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What Is a CeMAP Qualification?

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  • Written By: B. Turner
  • Edited By: W. Everett
  • Last Modified Date: 20 November 2016
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The Certification in Mortgage Advice and Practice (CeMAP) qualification is a type of professional certification for employees in the mortgage and financial industries. British law requires all mortgage professionals to hold CeMap qualification before working with the public. This helps ensure that the consumer is fully-educated about mortgages before taking on such an investment. CeMAP qualification also allows the mortgage professional to demonstrate his knowledge of finanical laws and standards. Candidates must pass a series of challenging exams in order to earn CeMAP qualification, and advanced certifications are also available for those who are looking to advance their careers.

Throughout the United Kingdom (UK), CeMAP qualification is awarded to individuals by the Institute of Financial Services. To earn this certification, candidates must pass a series of three exams related to the financial and mortgage industries. All three exams are multiple choice, and are generally taken on separate days. The Institute of Financial Services provides lists of test-taking facilities throughout Britain where candidates can sign up for these exams. Some firms will pay employees for time spent preparing for this qualification, while others may offer a pay increase once CeMAP qualification is complete.

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The first of the three CeMAP exams is the Introduction to Financial Services test. This exam is divided into two separate units, which cover various financial products and the laws used to regulate the sale and use of these products. The second test is called the Assessment of Mortgage Advice and Knowledge, and is used to gage the candidate's understanding of various mortgages and how they can impact consumers. The third test is a Synoptic Paper, which combines the information in the first two exams into a series of case studies. An employee is not awarded CeMAP qualification until he passes all three of these exams.

Requiring mortgage industry professionals to earn this certification provides a number of benefits to British consumers. It ensures that buyers who are shopping for a mortgage will have access to information about the risks of buying a home. It also ensures that mortgage professionals understand and are able to educate others on the legal and ethical implications of the mortgage industry. This certification is designed to reduce the rate of default and to help buyers understand all their options before they commit to a mortgage.

CeMap qualification holders who wish to advance their careers may wish to pursue additional certifications. For example, the Institute for Financial Services also offers an advanced CeMap (Adv. CeMap), which allows mortgage industry professionals to demonstrate advanced knowledge and training in the field. This advanced qualification may help employees find better job opportunities or increase salary.

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