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. Anyone who is authorised to advise on Lifetime Mortgages by 5 April 2007 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.
From 6 April 2009 you will need to have passed an appropriate examination covering Home Reversion. If you have completed the Lifetime Mortgages module (either under the CeLTM® or Advanced CeMAP® qualification), you can meet this requirement by taking and passing the second unit (top-up unit) of the Equity Release qualification.
To gain the 'top-up' unit, students will need to pass Unit 2 of the Equity Release module:
* Please note that if you take the ‘top-up’ unit, you will also need to study the content of Unit 1 before taking the 'top-up' unit. Upon registration, you will be provided with materials for Unit 1.
What does the 'top-up' unit cover?
The 'top-up' unit covers:
View Equity Release module syllabus. (Includes Unit 1 and Unit 2)
Entry requirements
Qualification level
Level 3
Study time
Depending on your approach to learning, between 40 - 60 hours for the 'top-up' unit.
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 'top-up' unit is assessed by a one-hour multiple choice examination. The 'top-up' unit consists of three case studies each containing ten multiple-choice questions. This is delivered electronically with results given immediately.
Examinations for the CeRER 'top-up' unit will be available from 10 April 2007.
Grading
| Pass | 70% |
| Merit | 80% |
| Distinction | 90% |
Students must achieve a minimum of 70% in the 'top-up' unit. If students don't gain 70% in any unit/s within a module they will have to re-sit.
After you pass
Upon successful completion of the 'top-up' unit 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
£75.00 for the 'top-up' unit, which includes a twelve-month registration, the learning manual (Units 1 and 2) and the initial examination entry (any resit examinations are purchased separately).
Resit
The fee to resit the 'top-up' unit is £75.00.
How to register
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.
