Mortgage advisers panicking about the forthcoming Chartered Insurance Institute (CII) mortgage exams now have three extra chances to pass the Mortgage Advice Qualification (MAQ) before the Mortgage Code Compliance Board’s (MCCB) final deadline at the end of 2002.
Advisers are now able to sit the exams in January, April, July, September, October, November, or December.
Kate Clayden, director of production at the CII, said: ‘We want to give advisers the opportunity to complete the MAQ and meet the MCCB deadline.’
The MAQ takes three hours to complete and advisers must have passed it by 31 December 2002 to comply with the MCCB’s requirements. Those advisers failing to hold the exam by this date will not be able to provide mortgage advice and recommendation.
Clayden added: ‘The increase in the number of sessions will give advisers much more flexibility when selecting the most suitable time to take the exam. Our advice, however, is not to leave it until the last minute.’
Advisers taking a combination of MAQ with the Financial Planning Certificate will also gain half a credit towards the Advanced Financial Planning Certificate.