CeMAP Module 2 Questions

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cemap 2 exam questions free

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CeMAP Practice Questions

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Q:1-A survey report has included an 'undertaking' requiring alterations to the property. When, normally, must this work be carried out?
Mark one answer:

Within a maximum of two weeks prior to exchange of contracts.
Between exchange of contracts and completion.
Within a specified number of months following completion.
At any point during the mortgage term.



Q:2-Andrew wishes to make a claim under his Buildmark guarantee for a defect in his property. To whom should he initially submit his claim?
Mark one answer:

His local authority.
The builder.
National House Building Council.
Zurich Mutual Insurance Company.


Q:3-A property being marketed by an estate agent has a leaking roof and blocked gutters. Under the Property Misdescriptions Act 1991, which of the problems, if any, MUST be specifically disclosed in the agent’s details?
Mark one answer:

Neither.
Leaking roof only.
Blocked gutters only
Both.


Q:4-Having made an offer of advance, the lender discovers a potential problem with the house offered as security for the loan. What is the situation?
Mark one answer:

It can be withdrawn only if the borrower is to blame for not mentioning the problem
The lender's only recourse is to sue the surveyor
The lender can withdraw the offer
The lender must make a revised offer


Q:5-Which one of the following would NOT usually be a standard condition to an offer of mortgage advance but would only be added when circumstances required?
Mark one answer:

Subject to consent to mortgage form
Subject to satisfactory title
Subject to acceptance before specified expiry date
Property must offer vacant possession



Q:6-The borrower will NOT covenant to:
Mark one answer:

make payments as required by the contract
sublet only with the lender's consent
insure the property to his own satisfaction
keep the property in good repair


Q:7-Which one of the following is FALSE of the lender’s rights related to a legal charge? The lender can:
Mark one answer:

insure the property
call in a mortgage only if the account is in arrears
charge the borrower for the cost of meeting local authority requirements
transfer the mortgage to another institution only with the borrower’s permission


Q:8-What is the legal status of an offer of advance from a mortgage lender?
Mark one answer:

It is legally binding on the lender
Once accepted it is legally binding on the lender and borrower
It is a contract between the lender and the borrower
It describes the terms and conditions that will form the basis of a contract


Q:9-Lenders require, as a condition of a mortgage offer, that the borrower's children aged over 17 sign a form, which will prevent them from gaining an overriding interest under Section 70 of the Land Registration Act 1925. This is known as a:
Mark one answer:

deed of family arrangement
tenancy agreement
consent to mortgage form
disclaimer of interest


Q:10-The lender’s right of consolidation is to:
Mark one answer:

call in a mortgage at any time
treat two loans with it, secured on two properties, as one loan
insure the property where the borrower fails to do so and add the cost to the loan
repossess a property where the account falls into serious arrears



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