EQRS Mock Paper 4 — Equity Release SolutionsHarder
A harder EQRS mock: capacity, power of attorney and undue influence, a large estate weighing inheritance tax planning, and a maturing interest-only mortgage with no repayment vehicle. 3 case studies, 30 marks, 60 minutes.
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About EQRS Mock Paper 4
This is mock paper 4 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 harder tier: it is deliberately pitched above the live exam, so passing it means you should clear the real thing with room to spare.
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 4 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 4 break down across 6 topic areas:
- Risks & safeguards8 questions
- Advice process7 questions
- Alternatives4 questions
- Benefits & tax4 questions
- Suitability4 questions
- Lifetime mortgages3 questions
Try two questions from EQRS Mock Paper 4
These come from the free preview of this paper. Answer them, then reveal the explanation.
Case study 1 — Capacity, power of attorney and undue influence
Joan Pemberton (84) has been diagnosed with early-stage dementia. Her son Gary holds a registered Lasting Power of Attorney (LPA) for property and financial affairs, though Joan currently still has periods of clear capacity. Joan's house in Surrey is valued at £300,000 and is mortgage-free. Gary has approached an equity release adviser, saying his mother 'wants to release £50,000 to help me out now', and has done most of the talking in the initial phone call, answering questions on Joan's behalf. The adviser has not yet spoken to Joan alone.
Risks & safeguards
Before proceeding any further, what is the single most important step the adviser should take given how the initial call unfolded?
- AProceed on the basis of what Gary has said, since he holds a registered LPA
- BAsk Gary to provide a letter confirming Joan agrees
- CSpeak to Joan directly and alone, away from Gary, to assess her understanding of the proposal and establish whether releasing equity genuinely reflects her own wishes rather than Gary's
- DRefuse to deal with the family at all because an LPA is in place
Reveal the answer
C is correct. Gary answering on Joan's behalf and framing the plan as being for his own benefit ('help me out') are classic red flags for potential undue influence. Speaking to Joan alone is essential to establish her genuine understanding and wishes before any advice process continues.
Case study 1 — Capacity, power of attorney and undue influence
Joan Pemberton (84) has been diagnosed with early-stage dementia. Her son Gary holds a registered Lasting Power of Attorney (LPA) for property and financial affairs, though Joan currently still has periods of clear capacity. Joan's house in Surrey is valued at £300,000 and is mortgage-free. Gary has approached an equity release adviser, saying his mother 'wants to release £50,000 to help me out now', and has done most of the talking in the initial phone call, answering questions on Joan's behalf. The adviser has not yet spoken to Joan alone.
Risks & safeguards
Joan has early-stage dementia but currently has periods of clear capacity. What is the correct approach to assessing her capacity to enter into the equity release plan?
- AOnly a court can determine whether Joan has capacity, and this must happen before any conversation takes place
- BCapacity is irrelevant once an LPA has been registered, since the attorney can decide instead
- CCapacity must be assessed at the time the decision is actually being made, in relation to that specific decision — a diagnosis alone does not determine capacity, and Joan may be able to make this particular decision during a lucid period
- DA diagnosis of dementia automatically means Joan lacks capacity and cannot proceed under any circumstances
Reveal the answer
C is correct. Under the Mental Capacity Act framework, capacity is decision-specific and time-specific: a diagnosis does not automatically remove capacity. Joan must be assessed in relation to this specific decision, at the time it is being made, and support should be given to help her decide if she is able to.
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.