CEMAP Cheat Sheet 2026

The 30 highest-yield CEMAP facts, distilled from real exam questions. Print it, save it as a PDF, or study it here — free, no sign-up.

1. Which mortgage interest rate option, although temporarily, shields borrowers from rising rates? → Capped rate
2. When is 'enhanced due diligence' (EDD) required in the mortgage application process? → When the customer or transaction presents a higher risk of money laundering
3. What is 'income multiples' methodology in mortgage lending? → Using a set multiple of annual income to determine the maximum loan size
4. What duty does the mortgagee (lender) owe when exercising their power of sale? → A duty to obtain the best price reasonably obtainable at the time of sale
5. What are the FCA's three operational objectives? → Consumer protection, market integrity, and promoting competition
6. What is the criminal offence of 'tipping off' in the context of Anti-Money Laundering regulations? → Disclosing to a suspect that a SAR has been filed, which could prejudice an investigation
7. Which type of property survey provides the most comprehensive assessment of a property's condition? → Full Structural Survey (Level 3 Building Survey)
8. What is the primary role of the Financial Ombudsman Service (FOS)? → To resolve disputes between consumers and financial firms
9. What does the term 'gazumping' mean in the UK property market? → A seller accepting a higher offer from another buyer after already accepting an offer
10. What will happen to house prices if the supply of housing exceeds the demand? → Prices are likely to go down
11. Which of the following factors does NOT directly affect a property's market value? → The borrower's personal credit score
12. Which income type is typically treated most cautiously by mortgage lenders when assessing affordability? → Self-employed profit averaged over two years
13. What does a lender's affordability assessment primarily evaluate when considering a mortgage application? → Whether the borrower can sustain mortgage repayments over the term
14. What is the role of the surveyor's 'reinstatement cost' figure in a mortgage valuation report? → It provides the estimated cost to rebuild the property for buildings insurance purposes
15. Under FCA DISP rules, how long does a firm generally have to resolve a mortgage complaint before issuing a final response letter? → 8 weeks
16. What is 'negative equity' in a mortgage context? → When the outstanding mortgage balance exceeds the current market value of the property
17. Which of the FCA's Principles for Businesses requires a firm to 'pay due regard to the interests of its customers and treat them fairly'? → Principle 6: Customers' interests
18. Of the four primary asset classes, which one has the highest level of risk yet may yield the largest returns in the medium to long run? → Equities
19. What is the role of a mortgage broker's compliance department in the application process? → To check that advice given meets regulatory standards before submission
20. What is the purpose of an environmental search in the conveyancing process? → To identify risks such as flooding, contaminated land, subsidence, and radon gas
21. Under anti-money laundering regulations, what must a mortgage adviser verify about a client's deposit? → The source of the deposit funds and that they are legitimate
22. Which professional must carry out a RICS-standard mortgage valuation? → A RICS-qualified Chartered Surveyor
23. Which key disclosure document must the Mortgage Credit Directive (MCD) require lenders to provide to borrowers for product comparison? → The European Standardised Information Sheet (ESIS)
24. A Homebuyer Report is most suitable for which type of property? → Conventionally built properties in reasonable condition
25. Which of the following expenditures would a lender typically include in an affordability stress test? → Committed credit commitments, essential living costs, and childcare
26. At which stage of the mortgage process does the lender's valuation typically take place? → After the full application has been submitted
27. Which professional body accredits property surveyors and valuers in the UK? → The Royal Institution of Chartered Surveyors (RICS)
28. What is a 'drive-by' or 'kerbside' valuation used for in mortgage lending? → A quick external-only assessment used for lower-risk remortgage cases
29. What does 'Open Banking' allow lenders to do in the context of affordability assessments? → View real-time bank transaction data with the borrower's consent
30. What is 'blight' in the context of property valuation? → Any factor that negatively affects a property's value or saleability