You know what I mean, some people call it Brain Fog… where you’re trying to read and you either can’t keep your eyes open, or you can but the words keep vibrating round the page?
Yeah… Me too. Especially with a textbook so big you could probably break the world speed record if you dropped it out of your Grandparent Attic Window.
If you’ve ever got it whilst getting through the CeMAP textbooks then YOU ARE NOT ALONE. So, in an effort to spice up your studies, I’m bringing you this… a weekly bite-sized study aid for your convenience with some mock exam questions you can’t get anywhere else (without paying the big bucks).
So without further waffle (I wrote this hungry and the food puns are strong) I’m bringing you the second edition to The Sunday Study Edit: The Spicy Edit. (Find the first one if you missed it HERE) This week we’re honing in on Unit 1, Topic 2 of the textbook ‘Economic Policy & Financial Regulation’ – and please hold that yawn back for just a hot sec.. I’m bringing you the spark notes version for your convenience and so we can dive straight into the good stuff…
This topic focuses on the governments involvement in the financial services industry and, spoiler alert, it’s big baby. It also talks about Regulatory Oversight in the UK and the Pattern of Economic Activity. I’ve hooked you up to some quick wins for your studies but if you want the ins and the outs for this unit I’d seriously be getting myself on over to The Podcast about now for the full down-low.
Now, let’s move onto the money shot. Here are 3 exam questions I’ve come across that relate to Topic 2, if you can answer these then you’re plain sailing all the way to the exam.
So let’s see what you’ve got…
Question 1: The Bank of Englands Inflation Target, as set by Government is measured by the Consumer Price Index being between:
A 0% and 2%
B 1% and 3%
C 2% and 4%
D 3% and 5%
Answer 1: B
Hint: OK so this is one you’re only gonna know if you know. BUT now you know that the target as of 2022 is 2% with an allowable 1% divergence either way, making B the only option. If you can remember that 2% it’s a really quick win for you on exam day because trust me, every point counts.
Question 2: Under what circumstances, if any, does an EU Regulation laid down by the European Parliament and Council of Ministers not directly apply to a member state?
A None
B Only if a special dispensation has been granted
C Only if an alternative approach has been granted
D Only if the member has joined within the previous three years.
Answer 2: B
Hint: EU regulations are directly applicable in all member states unless special dispensation has been granted. Here’s what you need to know…
The UK stopped being a member of the EU (Brexit) on 31st Jan 2020. During a transition period that ran until 31st December 2020, the UK continued to follow all the EU’s rules and it’s trading relationships remained the same.
This included regulation relating to banking, investment, life assurance, general insurance, operating as a financial advisor, compensation for loses, money laundering, data protection and many other areas.
EU laws can take a number of forms, of which the two most common are regulations and directives.
Regulations:
· Are binding in their entirety, both in respect of what is to be achieved and how it is to be achieved.
· Are directly applicable to all member states (unless there are dispensations).
Directives:
· Each member state has discretion as to how they go about implementing the direction.
· The objective must be achieved within a specific timescale (usually two years) but how they are achieved is left to the authorities to determine.
Question 3: What is Gross Domestic Product?
A measure of the value of:
A demand within a country over a specific period of time.
B goods and services produced within a country over a specific period of time.
C money supply within a country over a specific period of time.
D national average earnings within a country over a specific period of time.
Answer 3: B
Hint: If you’re reading this thinking, well this is just impossible how are we meant to know that. First up, I get you. But second, this is exactly why I send these emails, I want you to be prepped for the sort of stuff you might get asked so you’re in the best possible position to pass.
Equally if you found this one particular Topic difficult, you could think about purchasing the audio study guide for this one for just £10 HERE.
And don’t forget – You are not alone- I AM HERE TO HELP!
If you haven’t already heard, I’ll be doing a Totally Free Exam Training Webinar in the next few weeks. It’ll be 45 minutes over Zoom where we talk about what to expect on exam day, and then we have the rest of the time dedicated to working through those Mock Exam questions together, you can ask me questions, get involved, make notes, whatever you need!
Understanding the exam questions is just as important as knowing the contents, if not more… there I said it.
I already have over 70 of you signed up, so don’t miss out, sign up HERE and you’ll get an email sometime tomorrow confirming the deets.
Speaking of ‘everything you’ve always wanted’
There’s the CEMAP 1 MASTER CLASS
This is not just A 5 day Fast Track CeMAP 1 Course (that you can complete from the comfort of your own sofa) for £279.
Included in this exclusive launch offer you'll also get:
· Lifetime Access to an interactive E-Learning Platform covering all 25 topics.
· The Complete Audio Study Guide Package to supplement your learning on the go.
· The Future in Finance E-Book (think of it like a CeMAP for Dummies guide).
· A 1 hour 121 coaching session with me before exam day.
· Exclusive access to a WhatsApp Community to share learning tips and career opportunities.
· PLUS A Risk Free Guarantee. Don't pass the exam? Come back and sit the course again FOR FREE.
There are only 10 Places Left So Make Sure to Bag Your Space HERE
I have the COMPLETELY FREE PODCAST which gives you new content every Wednesday, find it HERE.
I also offer 121 Coaching which could be the fastest way to get you exam ready AND I’ll give you the mock exams to work through if you book in! This is ideal for those who have already done their self study and want to fill in some gaps, OR just have someone to hype up with before exam day.
I’d touch base with you before our session, find out what you’d like to work on, then prep some stuff for our hour together, put together a unique package for you to take away and work on after our meet up, and then do a final check in before exam day to make sure you’re fully ready for it.
Find the info for that HERE.
There’s the ALL ACCESS PASS which is a complete audio study guide package (so 25 of exactly what you’ve just received for free + some visual aids + the 121 mentioned above) all for £120.
OK, That’s all from me this week. Remember to keep an eye on TikTok &Instagram to stay in the CeMAP loop.
Till next week.
XO,
Charlotte
Founder of Future in Finance
Free Training | MasterClass | Instagram | TikTok
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