CeMAP 2 mock exam and practice papers
What used to be CeMAP 2 is now MRT1 and MRT2 — mortgage law and the application process in one paper, products and everything after completion in the other.
50 questions, every answer explained, no sign-up.
What CeMAP 2 is called now
The old CeMAP 2 bundled several mortgage modules together. From September 2025 the content sits in two assessments. MRT1 (Mortgage Law, Practice & Application) is the biggest paper on the qualification at 50 questions in 60 minutes, covering property law, ownership, the buying process, borrower types, schemes, affordability, valuations and Stamp Duty — and it carries most of the syllabus's calculations. MRT2 (Mortgage Products & Post-Completion) covers repayment methods, product types and pricing, further borrowing, insurance, arrears, possession and redemption, across 40 questions in 60 minutes. Both need 70% to pass.
If you have been told to revise for CeMAP 2, that is MRT1 and MRT2 — and MRT1 is the one most people underestimate.
MRT1 — Mortgage Law, Practice & Application
The biggest paper: 50 questions covering property law, the house-buying process and everything up to a mortgage offer. It merged the old law and applications units, so pacing matters as much as knowledge — and it carries most of the syllabus's calculations, from LTV to Stamp Duty.
MRT2 — Mortgage Products & Post-Completion
Everything from the product menu to what happens after the money moves: repayment methods, product types and pricing, then further borrowing, insurance, arrears and repossession. Expect product-feature questions with subtly wrong distractors, plus calculations on ERCs, offsets and fee-versus-rate comparisons.
Try 4 sample CeMAP 2 questions
Taken from the MRT1 and MRT2 papers above. Answer each one, then reveal the explanation.
Mortgage law
In technical terms, a leasehold estate in land is known as:
- AA fee simple absolute in possession
- BA term of years absolute
- CAn estate in possession at will
- DA commonhold interest
Reveal the answer
B is correct. The Law of Property Act 1925 recognises two legal estates: the fee simple absolute in possession (freehold) and the term of years absolute (leasehold). A leaseholder owns the property for a fixed term, after which it reverts to the freeholder.
Mortgage law
Which statement about commonhold is correct?
- AEach unit-holder owns their unit as freehold, while a commonhold association owned by the unit-holders owns and manages the common parts
- BThe developer retains the freehold and appoints a managing agent
- CCommonhold units cannot be mortgaged
- DUnit-holders hold 999-year leases granted by the commonhold association, which retains the freehold of both the individual units and the common parts
Reveal the answer
A is correct. Commonhold, introduced by the Commonhold and Leasehold Reform Act 2002, gives each flat owner a freehold unit with no time limit and no landlord; the commonhold association (owned by the members) holds the common parts under a commonhold community statement. Take-up has been very low, which is why reform proposals continue.
Repayment methods
A 'low-cost' endowment was designed to repay an interest-only mortgage by:
- ASetting a basic sum assured below the mortgage amount and relying on bonuses to bridge the gap by maturity, with decreasing term cover protecting death benefit
- BGuaranteeing the full mortgage amount at maturity regardless of investment performance, because the basic sum assured was always set equal to the loan and bonus rates were contractually fixed at outset
- CInvesting entirely in cash deposits
- DCharging no premiums in the early years
Reveal the answer
A is correct. The 'low cost' came from assuring less than the target and assuming bonus growth would make up the difference — the very assumption that produced widespread shortfalls when bonus rates fell. Death benefit was topped up to the full mortgage by a decreasing term element, so the risk sat in survival to maturity, not death.
Repayment methods
Under a traditional endowment mortgage arrangement, the borrower's monthly outgoings consist of:
- ACapital and interest paid monthly to the life office, which forwards the interest element to the lender and invests the remainder
- BA single payment to the lender covering interest, capital and life cover
- CPremiums only, with interest rolled up until maturity
- DInterest paid to the lender plus a separate premium paid to the life office, whose policy is intended to repay the capital at maturity
Reveal the answer
D is correct. The mortgage itself is interest-only, with the endowment running alongside as the repayment vehicle — two separate payments to two separate institutions. Historically policies were formally assigned to lenders; today lenders usually just note their interest.
CeMAP 2 — common questions
Where can I find a CeMAP 2 mock exam?
Here. MRT1 Paper 1 is free in full — 50 questions in 60 minutes, the live CeMAP 2 format, with an explanation on every answer and no sign-up. Nine further timed papers cover MRT1 and MRT2; each opens a free 5-question preview.
Are there official CeMAP 2 past papers?
No. The LIBF does not publish live CeMAP exam papers. It sells specimen exams and includes one Practice Exam per unit with registration. Anything advertised as a real CeMAP 2 past paper is either third-party practice material or a candidate's recollection.
Is CeMAP 2 the same as MRT1 and MRT2?
Yes. From September 2025 the old CeMAP 2 mortgage module split into MRT1 (mortgage law, practice and application — 50 questions in 60 minutes) and MRT2 (products and post-completion — 40 questions). You sit them separately. MRT1 is the one most people underestimate because of the calculations and the pace.
How long is the CeMAP 2 exam now?
There is no single CeMAP 2 exam any more. MRT1 is 50 questions in 60 minutes; MRT2 is 40 questions in 60 minutes. Both need 70% to pass, and there is no compensation between them.
Practise CeMAP 2 properly
10 timed mocks in the real exam formats with real pass marks, and an explanation on every question. MRT1 Mock Paper 1 is free in full; every other paper has a free 5-question preview.