CF6 Exam: Mortgage Advice
To obtain the Certificate in Mortgage Advice and meet the regulatory standards set for mortgage advisers, candidates must pass two of three exams. The first unit can be either the R01 Exam or the CF1 exam for the module on financial services, regulations and ethics. The second exam, Mortgage Advice, is concluded by the CF6 Exam. The combination of both exams introduces candidates to the UK financial services industry and the mortgage process. When combined with on-the-job training, this Certificate ensures that mortgage advisers maintain the level of service required by the FSA.
The CF6 unit, Mortgage Advice, is designed to provide candidates with an understanding of different types of mortgage products and repayment choices. Specifically, the exam covers the house-purchasing process; an examination of different types of borrowers and what they are likely to need from a mortgage product; and the regulations and legislation that apply to mortgages. Candidates should be able to provide sound, accurate mortgage advice after passing the CF6 exam.
There are no prerequisites for this exam, so anybody can take it regardless of their experience or education. It is recommended, however, that the CF1 or R01 Exam is taken before CF6.
It is recommended that a student spend about 70 study hours preparing for the CF6 exam, which consists of 100 multiple-choice questions and 5 additional scenario-based questions. Each of these scenarios is comprised of five multiple-choice questions. The exam lasts for 3 hours, has a nominal pass mark of 70% and is worth 20 credits.
Brand Financial Training provides a range of study aids for the CF6 exam, including mock exam papers and a calculation workbook. Both are available as instant purchases; you will receive them in downloadable PDF format, which allows you to save them to your computer or print them, and work through them at your leisure. The mock exam papers are based on the CII mock papers. They consist of three complete sets of 125 questions and answers, which include cross references to the CII study text. The calculation workbook is the ideal learning resource for the calculation element of the exam, providing over 50 pages of calculation questions, complete with detailed step-by-step answers. Pass your CF6 exam with these valuable study aids from Brand Financial Training.
Information in this article is correct as at October 2011