Training


CeMAP revision


So you think you know your stuff – but do you? Test yourself with specimen CeMAP exam revision questions courtesy of ifs School of Finance – don’t worry we tell you the answers as well! For more help with revision, lessons and to get your own personal CPD certificate don’t forget to visit the CPD section on our website mortgageintroducer.com


QUESTIONS 1 The FSA regulation of mortgage sales only covers mortgages where the proportion of the land occupied or intended to be occupied by the borrower or related person, is a minimum of: A 10%. B 25%. C 40%. D 50%.


2 Paul took out a loan to purchase time- share accommodation in the UK and Henry took out a loan to purchase a holiday home in France. Which transaction, if either, is deemed a regulated mortgage contract? A Henry’s only. B Paul’s only. C Both. D Neither.


3 What minimum percentage of the land of a residential property must be used as a dwelling by a borrower or his relatives if any loan secured against it by means of a first legal mortgage is to be regulated by the MCOB Rules? A 20%. B 25%. C 40%. D 50%.


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4 Colin secured a loan on his family’s only property in December 2004. The loan is unregulated because it is: A a bridging loan. B or debt consolidation. C a home improvement loan. D a second charge.


5 Which of the following is correct in relation to the role of estate agents? A An estate agent selling a house for one party cannot, at the same time, provide any services for the buyer. B Their charges are usually on a flat fee basis or a percentage of the purchase price. C They act as agents to both the buyer and the seller. D They must always accompany prospective purchasers during the viewing of a property.


6 Which of the following is true of covenants? A They are imposed by the Land Registry. B They are passed on with the property. C They indicate a right one person has over the property of another. D They ‘run with the buyer’.


7 Which of the following statements in respect of the role of the estate agent is true? A The estate agent acts as an agent of the vendor and the purchaser.


B The estate agent acts as an agent of the vendor but not the purchaser. C Many estate agents charge more commission if they are the sole agent. D An estate agent is not permitted to charge a fee if a sale is not completed.


8 In relation to registered land, possessory title means that: A it is not possible to guarantee freehold title but good leasehold can be confirmed. B the land is freehold and title is granted to the person in possession. C the title, as registered, is defective but good title is assumed. D the title deeds may have been missing when the land was first registered.


9 Which of the following pieces of information in respect of a plot of registered land would be found in the proprietorship register? A A plan of the land. B Any beneficial easement. C The class of title. D The title number.


10 Which of the following is true of easements? A They can never impose a positive burden on the owner. B The two plots must be close to each other. C Legally, they pass from owner to owner. D They cannot be removed by the courts.


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