Who should study CeRER?
From 6 April 2007, the sale and marketing of Equity Release including Lifetime Mortgages and Home Reversion Plans will be regulated by the Financial Services Authority (FSA). As part of the new regulatory requirements, anyone advising on any form of Equity Release must attain an appropriate qualification.
If you have been authorised to advise on Lifetime Mortgages by 5 April 2007 you will be able to advise on all forms of Equity Release, including Home Reversions, under “grandfathering” arrangements. However, these arrangements will only apply until 5 April 2009. After that date advisers will need to have passed an appropriate qualification such as CeRER in order to advise on the full range of Equity Release products. Special provision has been made for ‘top-up’ for those who hold CeLTM®
If you are not authorised on Lifetime Mortgages by 5 April 2007, you will need to pass an appropriate qualification covering Equity Release before you can be authorised to advise. CeRER is designed to meet the criteria for a suitable appropriate qualification.
The full qualification comprises of the following modules:
What does the course cover?
The Equity Release module is split into two units. On successful completion you will demonstrate an understanding of:
View Equity Release module syllabus.
Entry requirements
Qualification level
Level 3
Study time
Depending on your approach to learning, between 40 - 60 hours for the Equity Release module.
Study support
A comprehensive learning manual is provided with your initial registration.
Additional study materials designed to complement the learning manual can be purchased in the form of specimen examination papers.
Updates to Study Materials
Please note that in order to reflect any changes to syllabuses, including matters arising from the annual Budget, the study materials are updated annually. Updates are usually available in July and come into effect in all examinations from 1 September of that year. It is your responsibility to ensure you are studying from the most up-to-date materials. Full details will be given in your registration confirmation letter.
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.
Examinations for the Equity Release module will be available from 10 April 2007.
Grading
| 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.
After you pass
Upon successful completion of this qualification you can use the letters “CeRER” after your name.
How do I study?
Distance learning materials are sent to you and you can learn at your own pace. When you're ready you book the exam.
Cost
£135.00 per module, which includes a twelve-month registration, the learning manual and the initial examination entry (any resit examinations are purchased separately).
Resit
Resit fee will be £105.00 for the module.
How to register
Online - Complete the online registration and payment form.
By post/fax - download and complete the application form (PDF format). To view this file you need to have Acrobat Reader installed on your computer. This is free and available from the Adobe website. When you have completed the form either send it to the address given on the form or fax it to +44 (0) 1227 784331.
By phone - call Customer and Student Enquiries on +44 (0) 1227 818609. Please have your VISA/MasterCard/Debit card handy when you call.
More information
Call Customer and Student Enquiries on +44 (0) 1227 818609 or email customerservices@ifslearning.ac.uk.
