CEMAP revision material help

myright

Hi guys,

As some of you will know from my previous thread here, i am looking to study CEMAP. I have a question relating to study materials.

When I enroll with IFS, is the Course manual they provide sufficient for revision? or shall I invest in more course materials? if so which is best?

Thanks for any help.

holly_hobby

Hello ... again !!

Your course material should be sufficient, but past papers are invaluable to get you in the swing of how questions are posed, some will be deliberately to throw you a little .. and they will be invaluable for paper 3, which should be the case study paper.

Little tips to make learning easy are using such things as pnemonics for remembering lists of info and/or mind maps - as your brain readily retains and recalls pictures and illustrations, much easier than just a page full of script.

For example ....

Pnemonics - is a word (funny ones or rudes ones are always easily remembered !), where the letters will help you to recall the info ...

E.g - A famous one for remembering priority of advice to budget and family status is PIPSI (I used PEPSI as an easy recall word like the drink, way back in the dark ages when I took my FPCs !) ... which simply equates to ..

P - Protection - Life
I - Income protection
P - Pension
S- Savings
I - Investment

So you can see the basics, just look at the main points of what you need to learn, or the list, and try and find a letter in there to make an easily recalled word, phrase, name etc ...

Mind mapping - this is difficult to describe in text - but you start off with the main word ... then branch off with the main areas, and then sub-branch off that ...you can make it as simple or detialed as you like .. the idea is the more times to write it, the easier your brian will recall the image when required ...

Also reading text and writing lists of questions as you go along, sort of your own test paper, is another method I use in addition to the above.

Others will be along with tips and comments

Hope this helps

Holly

PS - quick update - as I couldn't draw a mindmap example for you, I have had a quick google and have attached a link that gives you the general idea of how it will can look.

It also gives a bit of background to why MMP'ing is beneficial to ease of recall and learning, especially when complicated or detailed info is reqd to be recalled .... http://en.wikipedia.org/wiki/Mind_map .. of course there are loads of other google sites to look at giving further info ...do hope this helps .. Holly x

myright

wow thanks for your help again!!! I really apreciate all your help!!

Thanks for clarifying about the revision material and that mind mapping looks like an excellent tool to use! i better learn how to use it. cus my memory isnt usually that great! hehe. thanks soo much

Another question. Once I get the Cemap qualification, could I privately do mortgages without having to work for a company? because I'm just nervous wheather my CCJ will hold me back in the future. So I just want to keep my options open.

holly_hobby

To be honest, as a virgin adviser going self employed isn't really an option, I would suggest that you do need some mileage as an employee.

As said on your previous thread, passing the exam is just the beginning - you need to understand how to conduct a compliant interivew and sale (and be confident in front of clients, confidence only comes with experience), how to structure the interview so that it flows easily, and how to complete the reqd documentation in a compliant manner - which is of great importance.

All the above will be taught to you as a trainee, where initially you will be observing others in interview scenerios, which will give you an idea of how to format your client meetings, to which you will no doubt develop your own style.

From the mge side of things, at the beginning you won't have a clue who does what, who is flexible, how underwriters view certain situations etc. etc, how you present a case to a lender in the most favourable light,etc .. etc .. and that again really only comes from observing others, bouncing off colleagues, building your own list and good old experience !

The impact of your CCJ (which I think is satisfied from memory of your other post), will depend upon several factors - reason, amount, date of regisgtration, date of satisfaction. And I would cross that bridge when you come to it ... after all you haven't even recd your study books, let alone at the point of seeking an appointment ... slow down, one step at a time .!

Hope this helps

Holly

Conrad

myright wrote: »

Another question. Once I get the Cemap qualification, could I privately do mortgages without having to work for a company? because I'm just nervous wheather my CCJ will hold me back in the future. So I just want to keep my options open.

It wouldn't be easy for most people to jump straight into self employment. You minded me of when I first got nin to this business - I went straight in at the deepend with this wierd little west end firm that collapsed quickly. I remember thinking it would be a breeze, afterall I'd arranbged my own mortgage a while back, but when put in front of clients I litteraly froze.

Far better to start of as employed.

The courses and exams are about as useful as someone trying to be a champion sprinter by learning from books.

Any monkey can do a compliant sale but there's so much more to effective broking than that. Remember, straight forward clients dont need us, they can simply apply direct to any number of great direct deal lenders.

myright

holly_hobby wrote: »

To be honest, as a virgin adviser going self employed isn't really an option, I would suggest that you do need some mileage as an employee.

As said on your previous thread, passing the exam is just the beginning - you need to understand how to conduct a compliant interivew and sale (and be confident in front of clients, confidence only comes with experience), how to structure the interview so that it flows easily, and how to complete the reqd documentation in a compliant manner - which is of great importance.

All the above will be taught to you as a trainee, where initially you will be observing others in interview scenerios, which will give you an idea of how to format your client meetings, to which you will no doubt develop your own style.

From the mge side of things, at the beginning you won't have a clue who does what, who is flexible, how underwriters view certain situations etc. etc, how you present a case to a lender in the most favourable light,etc .. etc .. and that again really only comes from observing others, bouncing off colleagues, building your own list and good old experience !

The impact of your CCJ (which I think is satisfied from memory of your other post), will depend upon several factors - reason, amount, date of regisgtration, date of satisfaction. And I would cross that bridge when you come to it ... after all you haven't even recd your study books, let alone at the point of seeking an appointment ... slow down, one step at a time .!

Hope this helps

Holly

Thanks Holly again! I dont know where I'd be without your advice.

I was only asking cus I dont want to end up with the certification with no job due to the satisfied ccj.

it deffo looks like a challenging role and I hope the study material gives me some decent knoweldge so i can build some confidence.

myright

Conrad wrote: »

It wouldn't be easy for most people to jump straight into self employment. You minded me of when I first got nin to this business - I went straight in at the deepend with this wierd little west end firm that collapsed quickly. I remember thinking it would be a breeze, afterall I'd arranbged my own mortgage a while back, but when put in front of clients I litteraly froze.

Far better to start of as employed.

The courses and exams are about as useful as someone trying to be a champion sprinter by learning from books.

Any monkey can do a compliant sale but there's so much more to effective broking than that. Remember, straight forward clients dont need us, they can simply apply direct to any number of great direct deal lenders.

thank you fot the great advice!

holly_hobby

myright wrote: »

I was only asking cus I dont want to end up with the certification with no job due to the satisfied ccj.

it deffo looks like a challenging role and I hope the study material gives me some decent knoweldge so i can build some confidence.

Yes but your qualification is for life (subject to regulatory updates), so when your CCJ expires on its 6th anniversary you'll already have your qualification in situ.

Or, leave your studying until your CCJ has expired and you know you'll get a clean bill of health, so your qualification is more recent to your applications for position.

Being a mortgage adviser re basic knowlege sufficient to pass your exams (CeMAP or CII) is relatively easy .... its gaining the experience thats the hardest part - and you will continue learning throughout your career.

Indeed once you are trained it should be second nature to be able to perform a compliant interview and documented sales process, however this is the most crucial part of it all for your professional wellbeing, and should not be dismissed as largely kidsplay - it should be treated with due diligence as this is the very area that if not performed correctly, will get you into hot water upon any compliance function NB assessment, audit or complaint review - and let me tell you I've seen plenty of 'experienced' advisors fall foul of an audit or complaint review on silly errors/omissions - so its important that this aspect of your documented sale is right ... first time.

Also keeping upto date with industry and regulatory changes and general issues affecting the market, whilst you are an active adviser is also very important, and subscribing to industry publications (also referred to as pink papers), such as Mortgage Adviser, Mortgage Stratergy (relevant to you) or Financial Adviser,Money Marketing (really for IFAs but you may find interesting), are just a couple of the industry pinks that will be a good source of market awarness, and where such issues will be discussed, which may lead to a greater understanding for you.

Indeed whilst you are studying, you could take a look at public mortgage magazines in the likes of WH Smith, such as What Mortgage etc - which will discuss various issues, best buys etc, and written in a format that the average layman will understand - which may further help you to understand the information you are learning, where it fits and why it is important.

As Conrad correctly says, in todays market, the consumer is much more clued up, and confident in approaching lenders directly - brokers by nature, tend to get the sticky cases through their door ... although there will always be an element of clean clients that seek professional assistance in sourcing their mortgage arrangements.

As I discussed in a prev post, the brokers desks I ran, were for this purpose - brokers who didn't have a clue where to place a case would call for our assitance in sourcing a home for it ... although we did also get the general "whats the best 5 yr fixed" calls ...!! I'm not sure if any broker desks have survivied the closure of NB of the large ins co's - L&G did have a desk, which may be still going (use by membership I think) - if any have existed they are also an excellent way to place your business (if your co uses/approves them)and for you to also learn from them along the way.

But then of course you now have access to this site, where (some) brokers do like to share knowledge/findings with other, and I'm sure the same would assist if you had a sticky case - and then you can add this to (what will be your ever growing) index card list of 'who' does/considers what.

Hope this helps

Holly

ACG

http://www.scottishwidows.co.uk/Extranet/Literature/Doc/SWA1011085

Here is a RO1 exam - its rules and regulations and its at a higher level than CeMap 1. It should give you a bit of a starting point.

On a side note, it might be worth having a read up on RO5 (Its a protection exam, this is where you will earn your money as a mortgage advisor).

holly_hobby

Thats a really helpful post for the OP ACG ..


H x

ACG

holly_hobby wrote: »

Thats a really helpful post for the OP ACG ..


H x

I cant tell if thats sarcasm or not on these forums

Im presuming its not but if it is could you explain?