The assessment system is in-person by means of objective tests (examinations). The participants are granted two examination sessions to pass the certification. The examinations take place according to the following structure.
One examination corresponding to 100% of the certification content in which the candidate is to be examined.
In the case of the Mortgage Credit Certificate (Level I and Level II), the ordinary examination session lasts 120 minutes, with 100 multiple choice questions with one single correct answer. Points are not deducted for incorrect answers and questions left blank. In both cases (ordinary and extraordinary examination sessions), the certification is deemed to have been passed with an overall score above 7 (70% correct answers).
The examination sessions: ordinary and extraordinary are duly announced (date, times, location, etc.). The examination candidates are identified (by showing their ID card or equivalent) when entering and exiting the examination. A record is likewise made of when the candidate finishes the test and submits the examination. CUNEF allows candidates to sit the exam with the official book of formulas (supplied by CUNEF) and their calculator.
Once the objective test has been passed, the CUNEF Certificate corresponding to the qualification and level examined is issued:
- Mortgage Credit Certificate (level I): Intended for personnel providing information on or selling loans.
- Mortgage Credit Certificate (level II): Intended for personnel with executive status or those reaching decisions to grant real estate loans; personnel who decide, handle or are involved in the creation or design of credit risk appraisal systems, or who design or develop real estate loan products.
The Assessment Committee is responsible for formulating and preparing the examinations. The grade granted by the Committee will be “pass” or “fail”. The Committee decides the passing score for each exam session in order to receive a PASS grade, and is able to reduce the previously mentioned official 70% by a maximum of 5% depending on the difficulty of each examination, or when more than 90% of the candidates have incorrectly answered any given question.
The decision of the Assessment Committee is final, and candidates do not have the right to review the examination. The candidate will not be informed of the percentage of correct or incorrect answers.
Students enrolled on the Mortgage Credit Certificate (Level I) and Mortgage Credit Certificate (Level II) programme will be entitled to two examinations sessions for each edition of the programme for which they are registered.