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Guide for CEMAP Mock Test

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Quiz

1/10
Mortgage Applications
Which of the following is typically the first step in a mortgage application process?
Select the answer
1 correct answer
A.
Submitting supporting documents
B.
Completing a mortgage application form
C.
Receiving an offer from a lender
D.
Conducting a property valuation

Quiz

2/10
Mortgage Arrears and Post-Completion Issues
What is the primary step a lender should take when a borrower falls into mortgage arrears?
Select the answer
1 correct answer
A.
Initiate foreclosure proceedings
B.
Contact the borrower to discuss their situation
C.
Increase the interest rate on the mortgage
D.
Report the borrower to credit agencies

Quiz

3/10
Mortgage Law, Policy, and Markets
What is the primary purpose of the Mortgage Conduct of Business (MCOB) rules?
Select the answer
1 correct answer
A.
To regulate the interest rates charged by lenders
B.
To ensure that mortgage advice is suitable and in the best interest of the consumer
C.
To provide guidelines for property valuation
D.
To set lending limits for first-time buyers

Quiz

4/10
Mortgage Payment Methods and Products
Which mortgage payment method allows borrowers to pay only interest for a set period, typically during the initial years of the loan?
Select the answer
1 correct answer
A.
Capital repayment mortgage
B.
Interest-only mortgage
C.
Fixed-rate mortgage
D.
Variable-rate mortgage

Quiz

5/10
Mortgage law, policy, practice and markets
What is the primary purpose of the Mortgage Conduct of Business (MCOB) rules?
Select the answer
1 correct answer
A.
To ensure lenders provide maximum profits
B.
To establish guidelines for responsible lending practices
C.
To eliminate competition among mortgage providers
D.
To simplify the mortgage application process

Quiz

6/10
Mortgage payments methods and post-completion issues
Which of the following methods allows borrowers to make variable repayments on their mortgage based on interest rate changes?
Select the answer
1 correct answer
A.
Fixed-rate mortgage
B.
Tracker mortgage
C.
Interest-only mortgage
D.
Discounted variable rate mortgage

Quiz

7/10
Mortgage related protection products
Which of the following is a type of insurance that can cover mortgage payments in case of illness or unemployment?
Select the answer
1 correct answer
A.
Life insurance
B.
Critical illness insurance
C.
Mortgage payment protection insurance
D.
Home insurance

Quiz

8/10
Introduction to Financial Services Environment and Products - The main areas of financial advice, asset classes and financial services products
An investment trust is best described as a/an:
Select the answer
1 correct answer
A.
company which invests in shares of other companies.
B.
open-ended investment company which invests in shares of other companies.
C.
trust which invests solely in commercial property.
D.
trust which is owned by its members.

Quiz

9/10
UK Financial Services and Regulation - Conduct of business rules
Steve deliberately leaked an incorrect story that his bank was sustaining significant losses due to credit problems, he then made a profit through dealing. This is an example of what?
Select the answer
1 correct answer
A.
Insider dealing.
B.
Market manipulation.
C.
Money laundering.
D.
Professional malpractice.

Quiz

10/10
UK Financial Services and Regulation - European Directives
MiFID II amended the classification of Independent advice. What did this involve?
Select the answer
1 correct answer
A.
Firms will be able to select whether they will be referred to as Independent
B.
Firms that choose to specialise in one area of financial planning will no longer be required to advise on all retail products, only those within that financial planning area.
C.
Firms must offer advice on all areas of financial planning, but can restrict the number of providers
D.
Firms must have access to every provider and all products to be referred to as Independent.
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Info quiz:

  • Quiz name:CEMAP Mock Test
  • Total number of questions:658
  • Number of questions for the test:50
  • Pass score:80%
  • Number of topics:19 Topics
Study topics:Number of questions:
  • Introduction to Financial Services Environment and Products - Purpose and structure of the UK financial services industry:29 Questions
  • Introduction to Financial Services Environment and Products - Rules and regulations and the FCA’s approach to regulating firms and individuals:57 Questions
  • Introduction to Financial Services Environment and Products - The main areas of financial advice, asset classes and financial services products:65 Questions
  • Mortgage Applications:52 Questions
  • Mortgage Arrears and Post-Completion Issues:52 Questions
  • Mortgage Law, Policy, and Markets:52 Questions
  • Mortgage law, policy, practice and markets:52 Questions
  • Mortgage Payment Methods and Products:52 Questions
  • Mortgage payments methods and post-completion issues:52 Questions
  • Mortgage related protection products:52 Questions
  • UK Financial Services and Regulation - Anti-money laundering rules:10 Questions
  • UK Financial Services and Regulation - Basic legal concepts:11 Questions
  • UK Financial Services and Regulation - Complaints and compensation:21 Questions
  • UK Financial Services and Regulation - Conduct of business rules:38 Questions
  • UK Financial Services and Regulation - European Directives:7 Questions
  • UK Financial Services and Regulation - Financial advice and regular reviews:8 Questions
  • UK Financial Services and Regulation - Financial services products:13 Questions
  • UK Financial Services and Regulation - Regulation:30 Questions
  • UK Financial Services and Regulation - The EU General Data Protection Regulation:5 Questions

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