EQRS Mock Paper 2 — Equity Release SolutionsEasier
A second easier EQRS mock: a couple with an adult son living with them, a widow funding care at home, and a couple deciding between drawdown and a lump sum. 3 case studies, 30 marks, 60 minutes.
Ready when you are
The timer starts when you press the button. You can still finish after it runs out — it is there to mimic exam pressure, not to lock you out.
Free preview: the first 5 of 30 questions, with a timer to match. Unlock the full paper
Answer options are shuffled on every attempt. Your progress is saved as you go, so a refresh won't lose it.
About EQRS Mock Paper 2
This is mock paper 2 of 5 for EQRS, the Equity Release Solutions unit of CeRER. The 5 papers in this unit run easier → harder so you can build up to exam standard rather than being thrown in at the deep end. This one sits in the easier tier: the wording is clean and the wrong answers are less subtle than the ones the examiner writes, so it is the right place to find out what you actually know.
Every question carries a written explanation, so a wrong answer tells you which rule you have misread instead of just costing you a mark. Questions are original, written against the current CeRER syllabus, and cover the material the way the examiner tests it — precise recall where recall is tested, and judgement where the paper wants judgement.
Format, timing and pass mark
EQRS Mock Paper 2 follows the live EQRS format: 3 case studies × 10 linked questions, in 60 minutes — about 120 seconds a question. Pass mark 21/30 (70%), as in the real assessment. There is no negative marking, so answer everything. 3 case studies carry linked questions: read each scenario once, carefully, before answering any part of it.
What this paper tests
The 30 questions in EQRS Mock Paper 2 break down across 7 topic areas:
- Risks & safeguards7 questions
- Lifetime mortgages6 questions
- Alternatives5 questions
- Suitability5 questions
- Advice process4 questions
- Benefits & tax2 questions
- Home reversion1 question
Try two questions from EQRS Mock Paper 2
These come from the free preview of this paper. Answer them, then reveal the explanation.
Case study 1 — The joint owners and their adult son
Roger (77) and Barbara (75) Adeyemi jointly own their mortgage-free Leeds home, valued at £380,000. Their combined pension income is £2,100 a month. Their son Michael (42), who has learning difficulties, has lived with them for 20 years, is financially dependent on them, and has nowhere else he could live if both parents died or moved permanently into care. Roger and Barbara want a lump sum of £30,000 for house repairs and a car, but they are anxious about what would happen to Michael's home if the plan ever became repayable.
Lifetime mortgages
Because Roger and Barbara hold the lifetime mortgage jointly, when would the loan normally become repayable?
- AOn the death or permanent long-term care admission of the first of them
- BAutomatically when Michael turns 65
- CAfter a fixed 20-year term regardless of circumstances
- DOn the later of both of them dying or permanently entering long-term care
Reveal the answer
D is correct. A joint lifetime mortgage runs to the later of both borrowers' deaths or permanent long-term care admissions — the surviving borrower can remain in the home for as long as they wish, with the loan continuing to accrue interest.
Case study 1 — The joint owners and their adult son
Roger (77) and Barbara (75) Adeyemi jointly own their mortgage-free Leeds home, valued at £380,000. Their combined pension income is £2,100 a month. Their son Michael (42), who has learning difficulties, has lived with them for 20 years, is financially dependent on them, and has nowhere else he could live if both parents died or moved permanently into care. Roger and Barbara want a lump sum of £30,000 for house repairs and a car, but they are anxious about what would happen to Michael's home if the plan ever became repayable.
Risks & safeguards
Michael is not, and cannot become, a joint owner of the property. What is the key risk this creates that the adviser must address?
- AThe plan cannot proceed unless Michael also signs the mortgage deed as a borrower
- BMichael will automatically become liable for the mortgage debt
- CMichael has no automatic legal right to continue living in the property once the loan becomes repayable after both parents have died or entered permanent care, potentially forcing a sale that leaves him without a home
- DNone — occupiers automatically inherit the same right to remain as the borrowers
Reveal the answer
C is correct. Only the named borrowers benefit from the 'right to remain' guarantee. A dependent adult occupier like Michael has no automatic right of tenure once the loan is triggered by the survivor's death or care admission — this must be flagged clearly, since it could leave him needing to find alternative housing.
Scored under 70%? Revise these next
A near miss is almost always a calculation you cannot do under time pressure, a definition you half-know, or a rule you have never read in the examiner's words. Start with the topic areas above where you dropped marks, then:
- →Drill the calculations on the CeMAP formula sheet — LTV, income multiples, SDLT, APRC, ERCs and rental cover, each worked through.
- →Nail the terminology in the CeMAP glossary — a surprising share of wrong answers are a term you nearly knew.
- →Re-read the syllabus coverage on the EQRS exam guide, then sit the next paper in the ramp.
The other EQRS mock papers
5 timed mocks for this unit, running easier → harder. Sitting the whole ramp is what moves a borderline score to a comfortable pass.