CeMAP·CERER · CeRER: Certificate in Regulated Equity Release·UnitCERER · Unit 02Access: Premium
EQRS: Equity Release Solutions
EQRS is the applied unit of CeRER, and the equity release equivalent of the CeMAP synoptic paper. It gives you a set of client circumstances and asks you to reach a defensible recommendation: whether equity release is suitable at all, which alternatives should have been considered first, which product fits, and what long-term risks the client needs to understand. The exam is one hour of 3 case studies with 10 linked multiple-choice questions each, and you need 21 out of 30 to pass. Our EQRS questions are written as scenarios for that reason.
What’s in it.
12 topics- Topic 01
Ethical Advice and Regulatory Requirements
45 questions - Topic 02
Fact-Finding, Verification and Matching Needs
45 questions - Topic 03
Health, Life Expectancy and Lifestyle Factors
45 questions - Topic 04
Family, Third Parties and Consumer Protection
45 questions - Topic 05
Assessing Suitability and Making Recommendations
45 questions - Topic 06
Alternatives to Equity Release
45 questions - Topic 07
Client Assets, Income and Legacies
45 questions - Topic 08
Lifetime Mortgage Solutions, Costs and Risks
45 questions - Topic 09
Home Reversion Solutions and Risks
45 questions - Topic 10
State Benefits, Tax and Long-Term Care
45 questions - Topic 11
Future Life Events and Long-Term Risks
45 questions - Topic 12
Case-Study Scenario Analysis
45 questions
Sample questions
3 of manyA few questions from this unit, with the answer and a full explanation. The complete bank is available when you start practising.
An adult son telephones the adviser directly about his mother's case, and says 'I'm not asking for details, just tell me if everything's on track'. Does this narrower request change how the adviser should respond?
- No; even confirming the case exists or is progressing is client information requiring her permission.Correct answer
- No, because confidentiality only applies to written communications, not telephone calls.
- No, but only because the son should have asked his mother directly rather than the adviser.
- Yes, since the son has deliberately narrowed his request to avoid breaching confidentiality.
ExplanationEven a seemingly minor confirmation, that a case exists and is 'on track', is still information about the client's own affairs that she has not necessarily agreed to share, so narrowing the request does not change the underlying confidentiality position; the medium of communication (telephone versus written) is also irrelevant to whether confidentiality applies. Key takeaway: confidentiality covers even minimal status information, not just detailed figures, so a narrower request does not create an exception.
Margaret, 78, was widowed three years ago and lives alone. She was recently diagnosed with mild arthritis and has started using a walking stick. What vulnerability signal is present in her circumstances?
- Her son living 200 miles away from her
- Her ownership of a bungalow valued at £320,000
- Her daughter visiting weekly to see her
- Her recent bereavement and living aloneCorrect answer
ExplanationRecent bereavement combined with living alone is a recognised vulnerability signal under FCA guidance, prompting the adviser to take extra care with pace and understanding; the property value, State Pension, family locations, and stated preference are ordinary case facts, not vulnerability indicators in themselves. Reference: LIBF CeRER Qualification Specification v6, EQRS AC 1.1, 1.8, 1.10, 1.11; FCA guidance on vulnerable customers. Key takeaway: bereavement and isolation are core, well-established vulnerability signals to flag early in a case study.
Why might a client who has adapted their home for mobility needs be unsuitable for trading down?
- Mobility adaptations automatically increase a property's council tax band.
- The adaptations would likely need to be replicated at further cost.Correct answer
- Mobility adaptations void a property's buildings insurance.
- Lenders refuse to value homes that have been adapted.
ExplanationTrading down means leaving behind adaptations already paid for and installed; a new, smaller property is unlikely to have equivalent adaptations already in place, so replicating them adds cost that offsets the benefit of moving. Key takeaway: sunk adaptation costs are a real, quantifiable factor against trading down.
Frequently asked questions
4 questionsHow many questions are in the EQRS exam?
EQRS is 3 case studies, each with 10 linked multiple-choice questions, so 30 questions in one hour, worth 30 marks. You need 21 out of 30 (70%) to pass, with Merit at 80% and Distinction at 90%.
How is EQRS different from FOER?
FOER tests whether you know the products and the rules. EQRS tests whether you can apply them to a client's circumstances. A typical EQRS question gives you a client's situation and asks which recommendation is suitable and why.
What do CeRER case studies cover?
A case study presents a client's circumstances: age, health, property, income, savings, benefits received, family situation and what they want the money for. The linked questions then work through the advice process, covering suitability, the alternatives that should be considered first, the impact on means-tested benefits and long-term care funding, and the risks the client faces in future.
Should I study FOER before EQRS?
Yes. EQRS applies the product and regulatory knowledge from FOER to client scenarios, so most candidates find it much harder if they attempt it first.