CeMAP 3 tips to pass

1. Read the question to see who you should put yourself on. Sometimes it can be a mortgage broker; other times administrator of a construction company. Put yourself in that person’s shoes and try and imagine that you are that person before answering the question.

2. Think of generic products. Although your own range of products will certainly help you, the review is based on generic products, not specific products that you can work with.

3. The questions in CeMAP use very cautious credit policies instead of the very adventurous ones available in the market. Unlike any other lender on the market, CeMAP paper operates standard income multipliers, always charges higher loan rates, does not lend to people with CCJ, promotes both repayment mortgages and interest-only mortgages with ISA and endowments. . You are the perfect lender and adhere to the CeMAP curriculum.

4. Note the sections. Sections A and B cover applying for a mortgage – all areas in which a mortgage is applied for until the mortgage offer is issued. Section C covers all the things that happen after the mortgage is finalized, which are invariably handled at the lender’s headquarters or branches. Section C also covers a large number of Mortgage Business Conduct Rules as do sections A and B.

5. Know that you have 2 hours for all the work, but consider how much time to spend on each case study. In the document, you will have 6 case studies, all with 10 multiple-choice questions. We recommend 20 minutes in each case study

6. Review your calculations before the article. Invariably there will be questions that require you to do a calculation. Percentage advances, higher loan fee calculations are just two examples

7. As you read the case studies, if they involve clients, try to imagine that they are sitting across from you and moving into this state. Read the case study again with the new image in your head. Write down the key words and phrases from the case study. Then address the questions. Really control the case study, as each question will relate to it in one way or another.

8. Try to make a mental map of the Mortgage Business Conduct Rules to bring it to life and facilitate your study.

9. On a standard multiple-choice exam, such as CeMAP 1, it is good advice to put aside the questions you are unsure about and return to them at the end. In this exam this is not so great, as all the questions relate to a case study that must first be swallowed before answering the questions. Of course, skip the questions you don’t know the answer to initially and go back to them before moving on to the next case study.

10. If you need glasses to use the computer, be sure to bring them. Sitting in front of a screen for two hours can damage your eyes otherwise. If your company offers free eye tests if you are a computer user, get one before the exams and buy your glasses as soon as possible. Taking an exam with an excruciating headache is not fun.

11. Remember the standard multiple-choice question strategies. Read the question first twice without looking at the answers; cover the answers with your hand if necessary.

12. Always match the question to the information in the case study, as this will help you tremendously.

13. Have you ever seen a line of dominoes on the floor where the first domino is knocked over and it does not hit the next one and so on? I think the Guinness Book of Records states that the longest row of dominoes is in the thousands. Anyway, this picture will help you understand how the CeMAP 3 questions work. Many questions link to the next question. For example, the first question may ask you to select an appropriate product. The next question would be a relevant question for that product. Sometimes if you are unsure of the answer to question one, the root of the question or the possible answers to question 2 can jog your memory. Therefore, it is a good idea to look at the other questions for clues about the answers to others.

14. Use CeMAP elimination for every question – it is the best available technique and can invariably lead to an answer you were not quite sure about. Even if you are fairly sure of the answer, eliminate the wrong answers, as this will help you stay focused. Remember that after 90 minutes, you will get tired and start to miss things. Things that are obvious when you have a lot of energy are simply lost when you are tired. Using elimination allows you to focus on each option and not miss a thing.

15. Staying active during the exam helps you focus. Take a blank sheet of paper for each case study and make notes of the key information as you read the story. In the Pearson Vue system, you receive a small writing board that can be cleaned each time you move on to a new case study.

16. Don’t forget the older mortgage schemes and methods that come up on the exam. For example, stabilized and low-start mortgages haven’t been sold since the early 1990s, but people may still have them and are therefore trying them.

17. Try a technique to completely forget the case study. One delegate suggested that I close my eyes and think about England / Wales / Scotland before continuing. Others have suggested some sort of visualization, perhaps, of their latest beach vacation. Whatever you do, try to get your mind off the last case study before moving on to the next one.