EQRS Mock Paper 5 — Equity Release SolutionsHarder
A harder EQRS mock: a vulnerable customer and Consumer Duty, porting a lifetime mortgage to a new home, and a case where equity release must be declined or referred. 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 5
This is mock paper 5 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 5 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 5 break down across 6 topic areas:
- Risks & safeguards10 questions
- Advice process9 questions
- Suitability6 questions
- Alternatives3 questions
- Home reversion1 question
- Lifetime mortgages1 question
Try two questions from EQRS Mock Paper 5
These come from the free preview of this paper. Answer them, then reveal the explanation.
Case study 1 — A vulnerable customer and Consumer Duty
Harold Fitch (86) was recently widowed and lives alone in his mortgage-free house in Norfolk, valued at £250,000. His GP has noted mild hearing impairment and early signs of cognitive decline. Harold contacts an equity release adviser wanting to release £60,000 'quickly' to give to a man he met through an online investment forum, who has promised Harold 'guaranteed returns of 15% a month' if he invests soon. Harold seems confused about some details when asked follow-up questions, becomes agitated when the adviser suggests taking time to think it over, and says he 'doesn't want to bother' his daughter, who lives nearby.
Risks & safeguards
Which characteristics in Harold's case indicate he should be treated as a potentially vulnerable customer under the FCA's vulnerability guidance?
- AHarold cannot be vulnerable because he has approached the adviser himself, showing full capability
- BHealth (hearing impairment, possible cognitive decline), a recent life event (bereavement), and potentially resilience/capability factors all point towards vulnerability, and should prompt extra care in how the adviser proceeds
- COnly a formal medical diagnosis of a specific condition counts as vulnerability
- DHis age alone is sufficient and no other factor needs to be considered
Reveal the answer
B is correct. The FCA's four drivers of vulnerability are health, life events, resilience and capability. Harold shows signs across several of these — recent bereavement, possible cognitive/hearing issues, and confusion under questioning — which together should prompt heightened care, not a single tick-box test.
Case study 1 — A vulnerable customer and Consumer Duty
Harold Fitch (86) was recently widowed and lives alone in his mortgage-free house in Norfolk, valued at £250,000. His GP has noted mild hearing impairment and early signs of cognitive decline. Harold contacts an equity release adviser wanting to release £60,000 'quickly' to give to a man he met through an online investment forum, who has promised Harold 'guaranteed returns of 15% a month' if he invests soon. Harold seems confused about some details when asked follow-up questions, becomes agitated when the adviser suggests taking time to think it over, and says he 'doesn't want to bother' his daughter, who lives nearby.
Risks & safeguards
The proposed use of the £60,000 — sending it to an unknown online contact promising 'guaranteed returns of 15% a month' — is a strong indicator of what?
- AA likely investment scam or fraud; guaranteed, unrealistically high returns and pressure to act quickly are classic warning signs that should trigger the firm's fraud and scam prevention procedures
- BA tax-efficient pension transfer
- CA standard equity release use of funds requiring no further scrutiny
- DA legitimate, high-performing investment opportunity
Reveal the answer
A is correct. Guaranteed, unrealistically high returns combined with urgency and an unknown online contact are textbook characteristics of an investment scam. This should trigger the firm's scam-awareness and safeguarding procedures well before any equity release advice progresses.
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.