Level
The Certificate in Regulated Equity Release (CeRER) is incorporated at Level 3 into the Qualifications and Credit Framework (QCF) and is listed as such in the National Database of Accredited Qualifications.
Duration
The Certificate in Regulated Equity Release (CeRER) comprises 1 module with a 12-month registration period. As CeRER is a self-study qualification it is up to you how quickly you progress through it. You can register for CeRER at any time.
Cost
The registration fee for the Certificate in Regulated Equity Release (CeRER) is £135.00. This fee includes the learning manual and initial examination entry.
Since 6 April 2007, the sale and marketing of equity release products including lifetime mortgages and home reversion plans has been regulated by the Financial Services Authority (FSA). As part of these regulatory requirements, anyone advising on any form of equity release must hold an appropriate qualification.
If you are not authorised on lifetime mortgages you will need to pass an appropriate qualification covering equity release before you can be authorised to advise.
By completing the Certificate in Regulated Equity Release (CeRER) you will meet these regulatory requirements and develop a full and extensive knowledge of the fast-expanding equity release environment.
Qualification details
The Certificate in Regulated Equity Release (CeRER) comprises 1 core module in addition to the Certificate in Mortgage Advice and Practice (CeMAP®):
Equity Release
Learning outcomes
On completion of CeRER you should be able to demonstrate an understanding of:
- the definition of a Home Reversion (HR) plan and alternative methods of equity release/capital raising
- the principles of equity release, the types of equity release schemes available and the applications for which such schemes might be appropriate
- the types of consumer at whom equity release is targeted and their personal requirements, wants and needs
- the circumstances in which equity release may be appropriate and how these are influenced by the consumers’ preferences and financial needs
- suitable equity release solutions to the circumstances of different types of consumers
- the suitability and affordability of the different types of HR plans and their principal alternatives for different types of consumer
- the advantages, disadvantages and potential risks to consumers associated with taking out equity release, and when these might arise
Study time
It is recommended that you spend 40-60 hours' study time on the Certificate in Regulated Equity Release module.
Entry requirements
The Certificate in Mortgage Advice and Practice (CeMAP®) (or equivalent) is required for entry to the ifs’ Level 3 Certificate in Regulated Equity Release.
Exemptions
View the list of potential exemptions through other qualifications.
Studying for this qualification
How do I study?
The Certificate in Regulated Equity Release (CeRER) has been designed as a self-study qualification. Upon registration you are sent study materials that you study from at your own pace.
Learning resources
A comprehensive set of learning materials is provided at the time of registration. Upon registration, the ifs also provides a comprehensive learning support package for you, including access to extensive online student resources via the information gateway my ifslearning.
Please note that in order to reflect any changes to syllabuses, including matters arising from the annual Budget, the study materials for some (though not all) modules are updated annually. It is your responsibility to ensure you are studying from the most up-to-date materials. The most up-to-date learning materials, updates and amendments can be found on the ifs' secure website and we suggest that you log in to my ifslearning regularly to gain access to these.
Due to the Emergency Budget, held on 22 June 2010, materials for modules requiring new versions of the text in 2010 will be available online week commencing 2 August 2010, and in print from week commencing 16 August, for assessment from 1 October 2010.
Additional resources
The following additional study materials, designed to complement the learning manual, are available to purchase:
- specimen examination papers
View the complete list of additional study support materials.
Assessment
Regulated Equity Release is assessed by a 2-hour multiple-choice examination split into 2 units. The first unit comprises 50 multiple-choice questions. The second unit comprises 3 case studies each with 10 associated questions. You must achieve a minimum of 70% to pass each unit. If you don’t gain 70% in either unit within the module you will have to resit. You only need to resit any failed units.
This examination is delivered electronically with results given immediately.
Assessment venues
The ifs School of Finance works in partnership with Pearson VUE, a leading international electronic delivery provider, to offer electronic multiple-choice examinations held daily Monday to Friday across the UK and overseas (please contact Further Education Customer and Student Enquiries to find your nearest centre, or go online at: www.vue.com/ifs). You study for the qualification at your own pace and take the examination when you feel ready. To book your examination with Pearson VUE please call 0870 608 1915.
You can also sit your examination at the ifs’ own London Test Centre located at Peninsular House, which is in the heart of London’s financial district, near Monument. Once you are ready to take your examination please contact us on +44 (0) 20 7337 6299 to book your examination session. Please view our location map.
You can book as little as 2 working days in advance of the date you wish to sit the examination, subject to availability. There are over 150 examination centres throughout the UK for you to choose from.
After you pass
Upon successful completion of this qualification you can use the letters ‘CeRER’ after your name.
Further details
Price list
Registration fee £135.00
Resit fee £105.00
Specimen papers £17.00 each
Registering
Online - complete the online registration and payment form.
By post/fax - download and complete the registration form. 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 stated on the form or fax it to +44 (0) 1227 784331.
By phone - call Further Education Customer and Student Enquiries on +44 (0) 1227 818609 (option 1). Please have your VISA/MasterCard/debit card to hand when you call.
Regulations applicable to this qualification
View the CeRER regulations.
Additional information
View additional information about studying with the ifs
Contact us
Call Further Education Customer and Student Enquiries on +44 (0) 1227 818609 (option 1) or email customerservices@ifslearning.ac.uk