Protection & insurance
26 practice questions with explanations — 15 free to try
PassNova has 26 CeMAP — Mortgage Advice practice questions on Protection & insurance, each with a clear explanation. A 15-question taster is free with no sign-up; the full bank is part of PassNova Premium. Updated for 2026.
Protection & insurance: example questions & answers
2 worked examples with answers and explanations below. Try 15 CeMAP — Mortgage Advice questions free in the browser; the full 26-question Protection & insurance bank is part of PassNova Premium.
A repayment vehicle for an interest-only mortgage is best described as:
- AA plan or asset intended to repay the outstanding capital at the end of the term✓
- BThe lender's standard variable rate, which applies once the initial deal period has ended
- CThe monthly interest payment itself, which gradually clears the debt over the full term
- DA type of car finance
Answer: A repayment vehicle is the means by which the capital on an interest-only mortgage will be repaid, such as savings, investments or sale of an asset. Its credibility must be assessed at outset.
Which of the following could be an acceptable repayment strategy for an interest-only mortgage, subject to lender criteria?
- ARelying on the lender to write off the outstanding debt at the end of the term
- BAn investment or savings plan, pension lump sum, or sale of another asset✓
- CIgnoring the capital entirely and dealing with the problem when the term finishes
- DHoping that property prices will rise, with no other repayment plan in place
Answer: Credible strategies include savings or investment plans, a pension lump sum, or the planned sale of another property or asset. Simply hoping prices rise, with no concrete plan, is not an acceptable strategy.