Replaced UKFR (ITFS) in the new CeMAP structure from 30 September 2025. Study from the current FRE1 learning outcomes, not old UKFR (ITFS) materials.
Industry, Regulation and Key Parties. Practise 150+ audited, exam-style questions with worked answers, then sit full timed mock exams scored the way the real FRE1 paper is. Start free — no card needed.
Independent study aid mapped to the published FRE1 learning outcomes. Not endorsed by Walbrook (formerly LIBF).
Read the CeMAP FRE1 exam guide: format, syllabus and how to pass →
Walbrook (formerly LIBF) sets and can change the official format. Always confirm the currentFRE1 details on the official page before you sit.
FRE1 (Industry, Regulation and Key Parties) is the first unit of the FSRE module that replaced UKFR in the new CeMAP. It covers UK financial services and the Bank of England, the retail consumer, legal concepts, how regulation developed, and the FCA, PRA and Handbook.
Walbrook (formerly LIBF) sets CeMAP FRE1 as 40 multiple-choice questions (25 MCQs + 3 case studies × 5) over 1 hour, with a pass mark of 28/40 (70%). Source: the CeMAP and FSRE qualification specifications, July 2026. Confirm the current format on the official Walbrook (formerly LIBF) page before you sit.
MortgagePrep has 150+ audited, exam-style CeMAP FRE1 practice questions across every syllabus topic, each with a worked explanation — plus full-length timed mock exams. Start free, no card needed.
Practise by topic to build coverage, then sit full timed mock exams to get exam-ready. Consistent timed practice with worked answers is the most reliable way to pass CeMAP FRE1.
Practise by topic with instant worked explanations, then sit full timed mock exams. Start free — upgrade when you're ready.
Build a daily practice habit — a few exam-style questions a day, with worked answers. Free to start.
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