Certificate in Regulated Equity Release (CeRER)
From 6 April 2007, the sale and marketing of Equity Release including Lifetime Mortgages and Home Reversion Plans has been regulated by the Financial Services Authority (FSA). As part of these regulatory requirements, anyone advising on any form of Equity Release must attain an appropriate qualification.
If you are not authorised on Lifetime Mortgages you will need to pass an appropriate qualification covering Equity Release before you can be authorised to advise. By completing CeRER you will meet these regulatory requirements and develop a full and extensive knowledge of the fast expanding equity release environment. The full qualification comprises of the following modules:
- CeMAP® (or equivalent)
- Equity Release module
The Equity Release module is split into two units. On successful completion you will demonstrate an understanding of:
- the definition of a Home Reversion (HR) plan & alternative methods of equity release/capital raising;
- the principles of equity release, the types of equity release schemes available and the applications for which such schemes might be appropriate;
- types of consumer at whom equity release is targeted and their personal requirements, wants and needs;
- the circumstances in which equity release may be appropriate and how these are influenced by the consumers’ preferences and financial needs;
- suitable equity release solutions to the circumstances of different types of consumers;
- the suitability and affordability of the different types of HR plans and their principle alternatives for different types of consumer;
- the advantages, disadvantages and potential risks to consumers associated with taking out equity release, and when these might arise.
Examinations
The module is assessed by a two-hour multiple choice examination across the two units. The first unit consists of 50 multiple-choice questions. The second unit consists of three case studies each containing ten multiple-choice questions. This is delivered electronically with results given immediately. The grading is:
Pass 70%
Merit 80%
Distinction 90%
Students must achieve a minimum of 70% in each unit. If students don't gain 70% in any unit/s within a module they will have to resit. But upon successful completion of this qualification you can use the letters “CeRER” after your name.
The cost of the module is £135.00 per module, registration is valid for twelve months. The fee includes the learning manual and initial examination entry (any resit examinations are paid for separately at a rate of £105).
Certificate in Commercial Mortgages (CeCM)
The ifs School of Finance's Certificate in Commercial Mortgages satisfies the needs of intermediaries who are looking to broaden the scope of their business in this area. CeCM is a stand-alone certificate, part of the NACFB Diploma and Advanced CeMAP®
The course
Upon successful completion of the module candidates will be able to analyse customer proposition, recommend and apply suitable and affordable mortgage solutions, taking into account any existing arrangements, using knowledge and understanding of:
- common types of products and schemes;
- the market for commercial mortgages and related solutions;
- common types of finance;
- legal and regulatory framework;
- factors affecting the value of commercial property;
- risk management in the various commercial sectors;
- information gathering, affordability, suitability and breaches of payment.
Examination
The module is assessed by a two-hour multiple choice examination. This is delivered electronically with results given immediately. Upon successful completion of this qualification you can use the letters “CeCM” after your name. The cost is £135.00 per module, and registration is valid for twelve months. The fee includes the learning manual and initial examination entry (any resit examinations are paid for separately).
