Certificate in Mortgage Advice and Practice (CeMAP) 1 Practice Exam 2026 - Free CeMAP 1 Practice Questions and Study Guide

FCA vetting and approval is required for people who hold roles with significant influence over how a firm conducts its regulated activities. The two groups covered are those who perform certified functions and those who perform senior management functions. Certified functions are specific roles that the FCA must approve because the person’s decisions can materially affect customer outcomes and the firm’s compliance. Senior management functions are high‑level responsibilities that oversee the firm’s governance and control framework; individuals in these roles must also be approved by the FCA before they can act in those positions. Because both categories involve significant responsibility and potential impact on consumers, the regime requires approval for both, not just one. In practice, firms screen and vet candidates against honesty, integrity, competence, and financial soundness, and the FCA then grants or refuses the formal approval. The other options exclude one of these essential groups, or restrict the requirement to a narrower set of roles, which does not align with the rules.