Cookies on the CII website

By using and browsing the CII website, you consent to cookies being used in accordance with our policy. If you do not consent, you are always free to disable cookies if your browser permits, although doing so may interfere with your use of some of our sites or services. Find out more »

Chartered Insurance Institute
Recently added to my basket
 
Sorry but there was an error adding this to your basket. Please try adding it again
 

 

The essential mortgages and equity release advice qualification

The level 3 Certificate in Equity Release meets the FCA’s requirement for mortgage advisers and those advising on equity release schemes. In addition to developing advisory skills, the Certificate offers an understanding of equity release regulation, products, market practice, and customer needs.

The Certificate provides an ideal next step for holders of the Certificate in Mortgage Advice, requiring completion of just one further unit.

Read the Certificate in Equity Release specification »


Who’s it for?

  • Those seeking to give mortgage and equity release advice
  • Anyone working in the mortgage and equity release market in non-advisory roles, for example, technical consultants or those in support roles


Recognition of prior learning

Before studying, check to see whether any of your previous academic qualifications or credits from other professional bodies and institutes can be carried towards completion of the Certificate.

Find out more about recognition of prior learning >


Completion requirements

The Certificate involves completion of three units from the Personal Finance qualifications framework, providing a minimum of 50 credits on completion.

See our key information link to the right of the page for details

Members are entitled to use the designation CertCII (MP & ER), subject to membership and Continuing Professional Development (CPD) requirements.


Assessment methods

Certificate level units are assessed by multiple-choice question exam (MCQ). For online MCQ exams, result notification is immediate on completion. For paper-based MCQ exams, results are released five weeks’ following the exam sitting.

Find out more about assessments, including policies and exam centres >


Learning support

Each qualification unit comes with the essential tools to support core learning. For a single fee, study packages typically include: study text, assessment entry and access to RevisionMate, our online study tool.

We also offer additional study materials to support individual learning. These range from key fact booklets and next-edition study texts, to question packs and Learn interactive tutorials.

For full unit availability, click the unit links to the right of this page.

Introduction

CII qualifications involve the completion of one or more units, each covering an individually assessed topic. Assessment methods vary and depend on a unit's level and subject matter.


Study and assessment methods include:

  • Multiple-choice question (MCQ) exam - Study is based on a specified enrolment period, from 01 January – 31 December. MCQ exams are available weekly at UK and select non-UK online exam centres, or twice-yearly in April and October at non-UK paper-based exam centres.
  • Written exams - Study is based on a 12 month enrolment period from the date of purchase. Written exams are held twice-yearly in April and October, with the exception of unit R06 which is tested four times-yearly, at UK and non-UK exam centres.
  • Coursework assessment - Study is based on a 12 month enrolment period from the date of purchase. Three written assignments, each typically between 2,000 - 3,000 words, need to be passed.
    Download Insurance Coursework assessment guidelines and instructions »
    Download Personal Finance Coursework assessment guidelines and instructions >>
    Download Personal Finance Coursework assignment guidelines and instructions »
  • Mixed assessment - Study is based on a 18 month enrolment period from the date of purchase. A combination of a single coursework assignment must be passed within the first six months and a MCQ exam passed within 18 months.
    Download Mixed Assessment guidelines and instructions »
  • Dissertation assessment - Study is based on a 18 month enrolment period from the date of purchase. A dissertation, typically between 10,000 - 11,000 words, on an agreed subject must be submitted.
    Download Dissertation guidelines and instructions »

It is essential that candidates familiarise themselves with the guidelines and instructions. Candidates should also familiarise themselves with the coursework and dissertation policies as well as exam policies before the assessment, and notes to results post-assessment.

This qualification in detail

Key information

What does the qualification involve?

The Certificate comprises three core units from a choice of four from the Personal Finance qualifications framework, providing a minimum of 50 credits on completion.  

Candidates are required to take one of the following units:

  • (R01) Financial services, regulation and ethics, or
  • (CF1) UK financial services regulation and ethics

And units,

  • (CF6) Mortgage advice, and
  • (ER1) Equity release

There is no prescribed order in which units must be taken, but it is strongly recommended that you sit the cure unit first (R01 or CF1) first as these provide foundation knowledge upon which the others build.

For the unit syllabuses, return to the Certificate in Equity Release landing page where you will find the syllabus link at the top right of the page.

Unit overview:

Unit

Assessment method

Study hours*

Credits awarded

Unit level

 

 

 

 

 

(R01) Financial services, regulation and ethics

·         2-hour exam

·         100 multiple choice questions

·         65% nominal pass mark**

60

20

4

(CF1) UK financial services, regulation and ethics

·         2-hour exam

·         100 multiple choice questions

·         70% nominal pass mark**

60

15

3

(CF6) Mortgage advice

·         3-hour exam

·         100 multiple choice questions

·         5 case studies, each comprising 5 multiple choice questions

·          70% nominal pass mark**

100

20

4

(ER1) Equity release

·         2-hour exam

·         50 multiple choice questions

·         5 case studies each comprising 5 multiple choice questions

·         70% nominal pass mark**

70

15

3

Find out more about assessment methods, including exam policies and centres »

Units treated as equivalent

Due to the extent of syllabus overlap, certain combinations of current and withdrawn CII units will result in only one award of credits.

If a withdrawn equivalent is held you may not need to complete a current unit in order to satisfy a qualification's completion rules. Clarification should always be sought from CII Customer Service.

Find out more about credit awards for equivalent units »


*The recommended minimum study hours will vary depending on your experience and ability.

** The actual pass mark may vary from one session to another to ensure consistency in pass standards.

Assessment information

It is important that candidates entering for a CII assessment familiarise themselves with our service, in particular the rules and procedures that are in place.

Syllabuses

CF1 UK financial services, regulation and ethics

At the end of this unit, candidates should understand the:

  • purpose and structure of the UK financial services industry;
  • different financial asset classes and product types;
  • process of giving advice and the main areas covered;
  • ethics, regulatory processes, rules and legislation underpinning UK financial services;
  • use of the financial regulators' powers and responsibilities to protect the market's integrity and the impact on individuals and firms of these regulators' powers.

 

CF6 Mortgage advice

At the end of this unit, candidates should be able to understand the:

  • house buying process, from making an offer to completion and the key parties involved;
  • different types of borrowers and how to meet their individual mortgage needs;
  • different types of mortgage product and repayment options and their suitability for the client;
  • legislative and regulatory position of mortgages and the requirements of a mortgage adviser.

 

ER1 Equity release

At the end of this unit, candidates should be able to understand the:

  • principles of equity release and the types of schemes available;
  • suitability and affordability of the different types of equity release products;
  • risks to the consumer associated with equity release;
  • application of suitable equity solutions according to the circumstances of different customers.

 

R01 Financial services, regulation and ethics

At the end of this unit candidates will be able to demonstrate their knowledge, understanding and skill in applying the following topic areas:

  • UK financial service industry in its European and Global context;
  • how the retail customer is served by the financial service industry;
  • Regulatory framework, powers and responsibilities to protect the consumer;
  • the legal concepts and considerations relevant to financial advice;
  • the Code of Ethics and its impact on the business behaviours of individuals.