cemap3 exam paper

shameless-about-money

Thanks!

Now just the problem of CeMap 1!

MortgageMamma

I didnt have to sit that as I have FPC but I'm told its quite boring. If you've passed the others I'm sure you will be fine. Just think, once you have achieved it no one can take it away - you want to go out and celebrate

maximus_88

HI GUYS,

I am new here. My cemap1 exam is 3rd september. any body give me any idea how to pass cemap1. I have cemap cdt. my score is %80.
I need more cemap1 questions.MY e-mail address is [EMAIL="arslanhabib2000@hotmail.com"]arslanhabib2000@hotmail.com[/EMAIL]
i will be very thankful to you if anybody could help me.
waiting for your reply!

MAXIMUS

Pollyr1

Hi
I remember this question -
As I recall, the question says that they will be paying 0.95% above the BofE rate in the first year, and then a reduction of 0.25% - making the rates 5.7% and 5.45% (4.75 + 0.95=5.7%, and 5.7-0.25=5.45%).
5.7% for the first 6 months, then a reduction of 0.25% for the next 3 months (5.45%), then reverting back to the base rate of 4375% (making the rate 0.95% again) - this makes it 5.7% for 9 months and 5.45% for 3 months
max loan £108,000
108,000 x 5.7% = 6156, divide by 12 = 513, multiply by 9 months = £4617
108,000 x 5.45% = 5856, divide by 12 = 490.50, multiply by 3 months = £1474.50
TOTAL of £4617 + £1474.50 is £6088.50 (they've obviously rounded down the answer

peddy

Does anyone happen to have any current test papers for CeMap 2 & 3?

busyliz_2

lil_chooa wrote: »

hi folks,

Currently undergoing studies for my CEMAP module 3 and was wondering if any one has past exam papers for this module. I have one paper which is the SPECIMEN PAPER A and would be extremely grateful for any others which could be sent by email.
Thanks.

ps
There's one question im stuck on:

Luke and jessica would like to know how much interest they will pay over the first year if they take out the maximum loan(£108000). assuming a base rate of 4.75% for the 1st 6 months, followed by a 0.25% reduction for 3 months, reverting to 4.75% for the final 3 months of the year , the amount would be:

a) 5,062.
b) 6,088.
c) 6,115.
d) 6,480.

according to my calculations im getting 5,062 but according to the answer book it's 6,088???

here's a question of my own - wrote cemap 3 yesterday and failed.
If a couple have been sole traders for a few years and now are setting up as a partnership and buying an exisiting beauty clinic together, what would the bank assess them on?
1. The previous owner's books
2. The couple's sole trader accounts
3. The business projections for the new partnership
Can't remember the 4th now.

Another one I got stuck on . They asked about ISAs and one of the answers were they are "virtually" tax free!! Does this mean they are or they aren't. They are incredibly ambiguous in this exam!!!!

happybroker

the ambiguity is there to prepare you for the ambiguity of principle based regulation when you become a mortgage adviser IMHO.

Mr_Tes

When applying to take cemap papers would you suggest going through an ageny who offer tutorials, guides and possible employemnt at the end or go through the certified institutes?

peddy

Mr_Tes wrote: »

When applying to take cemap papers would you suggest going through an ageny who offer tutorials, guides and possible employemnt at the end or go through the certified institutes?

Certified institutes?

dunstonh

peddy wrote: »

Certified institutes?

Its where you get sent if you are thinking that being a mortgage adviser is a good career to start in now