CeMAP is one of the most sought after courses, it requires 100 percent preparation from your side, it is a not a simple exam that you can wing it to get through. However, as you know, hard work is the key to success, here are some of the tips that can help you to pass the CeMAP 3 examination in particular:
- It is important that you read the questions carefully and understand the situation carefully, whether the question relates to the mortgage broker or a building society manager, you need to put yourself in their shoes and try and relate yourself to them.
- It is essential that you think about the general products, however, if you work in the industry, your products will be useful but the question pertains to the general products so it is essential that analyze the answers based on that.
- It is essential that you be thorough with the sections. Section A and Section B deal with the start of the transaction right from when the mortgage is applied for until the offer is issued. Section C on the other hand relates to the procedure involved after the mortgage is issued.
- It is important that you time your paper well and plan properly the time you are going to use on each case study. In the paper altogether you will have six case studies and each case study consists of ten multiple choice questions so it is essential that you time it well and I would suggest you to spend twenty minutes on each case study.
- In the case studies try visualizing yourself as each of the parties involved and jot down the important keywords. Then tackle the questions.
A mortgage advisor is the person who acts as an intermediary between the lender and the borrower. The job of the mortgage advisor can be done on an independent basis or as part of a bank or building society. The following are some of the steps that can help you to become an effective mortgage broker:
- It is essential that you have adequate knowledge about the industry in which you are operating, you need to remain knowledgable about the deals that are available.
- Have in depth knowledge about the loan procedure of the different kinds of loans. The more knowledge you possess the more it is going to be helpful for you.
- You need to possess good interpersonal skills and the sales skills that are going to play a vital role in your career.
- It is necessary that you need to determine your own goals as for most of the time you are going to be your own boss and discipline is the key essentiality when you are own boss.
- It is essential that you need to be in compliance with the UK regulations to be a mortgage advisor.
- Of course, you need to have taken the CeMAP exams or equivalent and you must be familiar with the UK laws about mortgage lending.
The task of finding out about how to become a mortgage advisor can become a full time game as there are many routes to become a mortgage advisor. The options available to you differ based on your work experience. However the first step towards becoming the mortgage advisor is to get your CeMAP qualification. This qualification comprises three stages: The first stage is CeMAP 1 which is considered to be one of the toughest levels because it is all about the UK regulation and the syllabus also is derived from the broad UK financial services industry. Passing this level can be a challenging task when the subject matter can seem dry, which is why the correct training is essential for success.
CeMAP 2 & 3 deals much more with the practical application of the mortgage industry and both the exams encompass the same syllabus and your knowledge will be tested in different ways. In order to pass all of these exams and understand the material fully, it is vital that you use the best study material available. This is where the Herne Group Home Study course is second to none, with comprehensive video, audio and written material covering the complete syllabus step by step.
Tips to be followed during the CeMAP exams
Wednesday, November 19, 2008
Another important thing which many people completely forget during the exams is to give themselves the mental breaks. Continuous working every minute will definitely not help you to absorb the information which you require, so it is equally essential that you have some fun during the revision time.
Plan a revision time table, allow the rest hours and follow the plan closely. The short breaks are very essential because it becomes difficult to concentrate during the long hours, so it will be a good effort, for example, if you go for a walk. During the exams it is essential that you avoid the intake of caffeine as this will not help you to concentrate for long. Do not eat too much oily food during the exams, and do not skip meals.