Exam prep for CeMAP FRE1 (Industry, Regulation and Key Parties) and every other unit of the new CeMAP. Practise exam-style questions on UK financial services, legal concepts and the FCA and PRA, work through linked case studies, and sit full timed FRE1 mocks: 25 MCQs plus 3 case studies, 1 hour, 70% to pass.
Free to start · No card required · 1,500+ questions across all five units · 250+ for FRE1
FSRE replaced UKFR, MORT split into MRT1 and MRT2, and the synoptic became ASEW/ASSC. Rules and figures moved too. Every question here was written for the current structure and audited against the source it cites.
Every question was solved blind, without the answer key, by independent AI checkers working from its cited source. All keys agreed; unclear wording was rewritten.
Tax bands, FSCS and FOS limits, Bank Rate: each states the date it applies from and the FCA rule, statute or gov.uk page behind it.
Not just right or wrong: why the answer is right, why the tempting options are wrong, and the trap examiners set.
One pass covers all five. Switch units at any time; your progress is kept per unit.
Module 1 · FSRE
Industry, Regulation and Key Parties
Markets, legal concepts, the FCA and PRA. Replaced half of UKFR.
Continue →Module 1 · FSRE
Skills, Principles and Ethical Behaviours
Advice skills, Consumer Duty, AML, complaints and ethics.
Study FRE2 →Module 2 · MORT
Mortgage Law, Practice and Application
Mortgage law, affordability, fees, SDLT, property and valuations.
Study MRT1 →Answer a question now, no sign-up. Each one is exam style with a worked explanation that names its source. The full sample set is on the sample questions page.
Hundreds of savers each deposit a few thousand pounds in instant-access accounts at a building society, which lends the pooled money to home buyers over 25 years. What is this process called?
One-off passes, no subscription. The Until-you-qualify pass (£49) gives you 18months, the length of Walbrook's full-qualification enrolment. Prices include VAT.
Pass promise: on the Until-you-qualify pass, fail a unit while your pass is active and we add 6 months, free.
CeMAP (the Certificate in Mortgage Advice and Practice) is the Level 3 qualification most UK mortgage advisers hold to meet the FCA's qualification requirement. Since 30 September 2025 it has five assessed units: FRE1 and FRE2 (the FSRE module that replaced UKFR), MRT1 and MRT2 (the MORT module), and the ASEW/ASSC synoptic case-study exam. Every unit passes at 70%.
FRE1 and FRE2: 25 standalone MCQs plus 3 case studies of 5 linked MCQs, 1 hour, pass 28/40. MRT1: 50 MCQs, 1 hour, pass 35/50. MRT2: 40 MCQs, 1 hour, pass 28/40. ASEW/ASSC: 6 case studies of 10 MCQs, 2 hours, pass 42/60. Source: Walbrook (formerly LIBF) CeMAP qualification specification v14 and FSRE specification v7, July 2026. Check the official pages before you book.
No. Every question is original practice material written to the published learning outcomes. We never copy exam or vendor questions. Each one has a worked explanation that cites the FCA rule, statute or official source behind the answer, and every figure carries the date it applies from.
Yes. The bank was written for the new structure (FSRE replaced UKFR; MORT is now MRT1 and MRT2) and audited against current sources, including the FSCS £120,000 deposit limit from 1 December 2025, the 2026/27 tax year and the FCA's July 2025 mortgage rule changes.
A free account with the first questions in every topic, the first full timed mock for each unit, a free FRE1 sample set you can try without signing up, and progress tracking.
No, and that's by design. Every question here is original practice material written to the public Walbrook (formerly LIBF) FRE1 learning outcomes in topic, style and difficulty. This is independent prep and is not endorsed by Walbrook (formerly LIBF).
| Unit | Format | Time | Pass |
|---|---|---|---|
| FRE1 | 25 MCQs + 3 case studies × 5 | 1 hour | 28/40 (70%) |
| FRE2 | 25 MCQs + 3 case studies × 5 | 1 hour | 28/40 (70%) |
| MRT1 | 50 MCQs | 1 hour | 35/50 (70%) |
| MRT2 | 40 MCQs | 1 hour | 28/40 (70%) |
| ASEW/ASSC | 6 case studies × 10 MCQs | 2 hours | 42/60 (70%) |
Source: Walbrook (formerly LIBF) CeMAP qualification specification v14 and FSRE specification v7 (July 2026), checked 11 Oct 2026.
MortgagePrep is an independent study aid for CeMAP candidates. It is not endorsed by, affiliated with or approved by Walbrook Institute London (formerly LIBF). CeMAP® is a registered trade mark of its owner and is used here only to describe the exam. All questions are original practice material, not past or live exam questions.
