LIBF CeMAP (Certificate in Mortgage Advice and Practice) Exam Cram Sheet (2026)

The highest-yield points on the LIBF CeMAP (Certificate in Mortgage Advice and Practice)exam, grouped by the exam's real content areas. Print it, review the ones you keep missing, then drill them with free practice questions.

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70to pass

6content areas

UK Financial Services Regulation

20% of the exam

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FCA objectives: Consumer protection, market integrity and effective competition, under the strategic objective that markets function well.· FSMA 2000 ss.1B-1E
Consumer Duty: Firms must act to deliver good outcomes for retail customers (products/services, price/value, understanding, support).· FCA PRIN 2A / Principle 12
FSCS limit: Eligible home-finance advice and arranging claims are protected up to £85,000 per person per firm.· FSCS / FCA COMP

Mortgage Law and Property

18% of the exam

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Regulated mortgage contract: Secured on UK land, borrower an individual/trustee, at least 40% used as a dwelling by the borrower or related person.· RAO 2001 Article 61
Charge priority: On sale or repossession the first charge is repaid in full before the second charge receives anything.· Land Registration / general law
Joint tenancy vs tenancy in common: Joint tenancy carries the right of survivorship; a tenancy in common share passes under the owner's will or intestacy.· General property law

MCOB: Advising, Selling and Disclosure

18% of the exam

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Suitability: On an advised sale the firm must recommend a mortgage that is suitable for the customer's needs and circumstances.· MCOB 4.7A
ESIS: Standardised pre-contract disclosure of the loan's features, costs and APRC; replaced the KFI under the MCD.· MCOB 5A / MCD
Clear, fair, not misleading: All mortgage communications and financial promotions must be clear, fair and not misleading.· MCOB 2 / 3A

Responsible Lending and Affordability

15% of the exam

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Lender affordability duty: The lender must verify income and assess affordability; self-certification is not permitted.· MMR / MCOB 11
Interest-rate stress test: Assess whether repayments remain affordable if interest rates rise during the early years.· MCOB 11.6.18R
Interest-only: Allowed only with a credible, clearly understood capital-repayment strategy, not reliance on house-price rises.· MCOB 11 / MMR

Mortgage Products and Repayment Methods

17% of the exam

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Repayment vs interest-only: Repayment payments include capital and interest and clear the loan; interest-only payments cover interest only.· MCOB / product structure
Tracker vs SVR discount: A tracker follows an external benchmark; a discount is a reduction off the lender's own standard variable rate.· Product structure
Capped rate: Variable but cannot rise above a stated ceiling; a capped-and-collared product also has a floor.· Product structure

Arrears, Post-Completion and Protection

12% of the exam

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Arrears and repossession: Treat customers in arrears fairly and use repossession only as a last resort.· MCOB 13
Buildings insurance: Lenders require buildings cover of at least the property's reinstatement value as a condition of the mortgage.· Lender conditions
AML and fraud: Advisers must not facilitate mortgage fraud and must consider a SAR to the NCA where criminal proceeds are suspected.· MLRs 2017 / POCA 2002

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Study aid, not a substitute for the official material — always confirm the current rule with LIBF — CeMAP. Last verified: August 2026.