cemap3 exam paper

peddy

coolsolution wrote: »

Hi everyone i want to do cemap but no clue where to start.i know i have to register with ifs learning and they are going to send books i guess?is that all ! one more thing to ask is, is it worth taking tution for this!

regards.

Hi,

If you listen to some on here they will tell you not to bother.

I'm studying now. I enrolled on a course with a company who have been excellent. The training was first class and I've found it beneficial as they helped me to stucture my studying. Of course it is up to you. If you feel like you can do it on you own then go for it.

Yes you have to register with the ifs at £135 per module which includes the exam fee.

Mr_Tes

peddy wrote: »

Hi,

If you listen to some on here they will tell you not to bother.

I'm studying now. I enrolled on a course with a company who have been excellent. The training was first class and I've found it beneficial as they helped me to stucture my studying. Of course it is up to you. If you feel like you can do it on you own then go for it.

Yes you have to register with the ifs at £135 per module which includes the exam fee.

Hi Peddy

What is the name of the company? Hope you dont mind me asking. You can PM me. Cheers.

peddy

Mr_Tes wrote: »

Hi Peddy

What is the name of the company? Hope you dont mind me asking. You can PM me. Cheers.

PM'd you Mr Tes

dunstonh

If you listen to some on here they will tell you not to bother.

Thats beacause they were either mortgage advisers 6 months ago and not now or can see the impact of current conditions on the business.

There are still too many mortgage advisers and more need to be culled. That will happen naturally over the next 12-24 months. Just in time for the older and lower qualified IFAs to switch to becoming mortgage advisers as they dont want to meet the RDR requirements (estimated to be around 1 in 5 IFAs). At that point there will a flood of experienced advisers, with clients and trails/renewals. Much more attractive to the prospective employer than a new recruit. I have already had one IFA join my firm as a mortgage adviser. I have another one coming before the end of the year (hes paid his FSA charges up to December so hes holding on till then). Another 2 have enquired with a view to hanging on until they have to cease being IFAs. Then they will switch to mortgage adviser.

During the good days of lending over half of new advisers left the industry within 2 years having failed to make a go of it. Whats it going to be like now?

So, if we are being negative then its just positioning what really is a hard profession to actually succeed in at this time. Better to be warned about it in advance than let yourself be fooled by some of these training companies that tell you £100k a year is normal.

peddy

dunstonh wrote: »

Thats beacause they were either mortgage advisers 6 months ago and not now or can see the impact of current conditions on the business.

There are still too many mortgage advisers and more need to be culled. That will happen naturally over the next 12-24 months. Just in time for the older and lower qualified IFAs to switch to becoming mortgage advisers as they dont want to meet the RDR requirements (estimated to be around 1 in 5 IFAs). At that point there will a flood of experienced advisers, with clients and trails/renewals. Much more attractive to the prospective employer than a new recruit. I have already had one IFA join my firm as a mortgage adviser. I have another one coming before the end of the year (hes paid his FSA charges up to December so hes holding on till then). Another 2 have enquired with a view to hanging on until they have to cease being IFAs. Then they will switch to mortgage adviser.

During the good days of lending over half of new advisers left the industry within 2 years having failed to make a go of it. Whats it going to be like now?

So, if we are being negative then its just positioning what really is a hard profession to actually succeed in at this time. Better to be warned about it in advance than let yourself be fooled by some of these training companies that tell you £100k a year is normal.

I don't think anyone would dispute the fact that it will be hard right now. I guess it depends on your expectation of earnings that will determine if you think it will be worthwhile or not. Personally I don't have high expectations yet others might. I suspect most of those who will cease to be Mortgage Advisors will be because they aren't making what they thought they would.

I know some of these training companies say "earn £100k+ a year" and this is totally unrealistic, especially in todays climate. The company I've gone through gave me realistic expectations. They told me I'll make very little in the first 6 months and it will be hard. They also said that yes you can earn £100k a year but you would have to be a natural at the job to do so.

Being realistic, as long as I make what I do now in my first year I will be happy. Anything more than that will be a bonus. I'm not looking to make a quick buck here.

At the moment I'm undecided on wether to take a bank job or to start up my own business. My head says play it safe with the bank but my heart wants to give it a shot with a network as an AR.

dunstonh

I know some of these training companies say "earn £100k+ a year" and this is totally unrealistic, especially in todays climate. The company I've gone through gave me realistic expectations. They told me I'll make very little in the first 6 months and it will be hard. They also said that yes you can earn £100k a year but you would have to be a natural at the job to do so.

The 100k plus earners are typically IFAs, those with shop fronts in areas of high property value and good location and/or those that employer others.

At the moment I'm undecided on wether to take a bank job or to start up my own business. My head says play it safe with the bank but my heart wants to give it a shot with a network as an AR.

Take the bank job. You will probably hate it but it will do you far more good in the long run. You will get quite good training, a basic salary and new clients walking through the door. You will be able to make mistakes on customers (which all new recruits do) without any financial liability to yourself (self employed means you cover the liability).

Do 18-24 months with the bank and if its working well then look to move. If it hasnt worked for you then at least you have still earned money.

Experience is key here. Doing time with a bank or joining an existing firm are the natural starting points for a career path. Going straight to being a self employed AR is trying to run before you can walk. Indeed, many networks refuse to take on self employed ARs without 12 months experience and competent adviser status. Partly due to business risk and partly due to the fact most fail and its unprofitable to them.

Also, it helps to have an understanding of investment business and contacts in that area. My mortgage advisers earn as much or more in investment business referrals to me as they do in mortgage business. With a week to go in the month, one is almost at £8000 this month and the other £2000.

ohmsoft

Thought I’d add my comments on this one as I’m normally not to negative about going for your goals but I think in this climate a large amount of care must be taken.

As you’re aware, the reality of the market at the moment is that very few lenders are actually able to lend anything near the sort of products that would be popular. The lenders that can are able to be so strict about lending criteria that only the very well off will qualify – those are the folk who either manage their finances themselves or already have a trusted advisor.

I really don’t think going alone would work for any new comer at the moment regardless of their qualifications. The few banks who can still lend good products are however, busy and I’m sure looking for new staff so there may be opportunities. But as Dunsonh has said there will be a great number of IFAs (and Mortgage Advisors who are tired of the market climate) jumping for these positions.

I really hope it works for those who try but I genuinely think that now is the worst time to enter the market in the last 20 or so years.

And to clarify I personally hold Advanced CeMAP and FCP yet choose not to enter advice yet for the risks – You bet I’ll be there at the end of the recession though! (with AFCP to meet RDR!)

peddy

Thanks for the advice guys. I appreciate it

minx164

hello everyone, just starting out with my CEMAP 1. if anyone has past questions or mocks i could look over i would be most greatful. thanks

sharvale

Hi I have just failed my CeMAP 3 today if anyone has any IFS CeMAP 3 past exam papers that they could email on to me i would really grateful. I have some CeMAP 2 June 2008, specimens ABC and CeMAP 3 June 2008 Specimens A & B.

Thanks