Checked 28 October 2026. The outcomes were read on IOB’s and LIA’s pages, and the rules on the Central Bank’s Consumer Protection Code 2025 (in force 24 March 2026) and mortgage-measures page and the revised Consumer Credit Act 1995, on 27 October 2026; the Irish Statute Book print of S.I. 81 of 2025 (the Code as made) was read on 28 October 2026. The mortgage measures can change; check the Central Bank page before you rely on a limit.
QFA Loans is one 2-hour exam of 100 multiple-choice questions that serves two goals: with QFA Regulation it gives you APA Loans, and it is one of the six QFA modules. It covers housing loans and consumer credit: loan types, the Central Bank’s requirements, the application process, housing loan insurances, taxation and reliefs, and arrears. For this guide we map those outcomes to the Consumer Credit Act 1995, Part 3 of the Consumer Protection Code 2025 (in force since 24 March 2026) and the Central Bank’s mortgage measures. This page sets out that map, picks out rules with numbers worth learning, gives a mortgage-measures calculator and works through three practice questions. Independent — not affiliated with IOB, LIA or III. ProSyllabus is an independent study site and nothing here is official: every format fact, date and fee below is quoted or summarised from the official pages listed at the end of this page, read on 27 October 2026 (the Irish Statute Book print of S.I. 81 of 2025 on 28 October 2026).
IOB programme page, LIA APA page, Central Bank mortgage measures and CPC 2025 Regulation 182, read 27 October 2026.
What the Loans module covers (official outcomes)
IOB’s learning outcomes for QFA Loans are to describe “the personal financial need for a loan,” and the ways different loans and consumer credit meet it; explain “the features, benefits, limitations, security requirements and taxation treatment of consumer loans and credit arrangements, and their associated insurances”; discuss “the impact of regulation on the provision of housing loans and different forms of consumer credit”; detail the steps and documents for a housing loan and recommend an option; and identify “the issues and processes involved in debt restructuring and equity release” and the recovery of arrears. Its specific areas are types of housing loans, Central Bank requirements, regulation, the loan application, housing loan insurances, arrears and consumer credit.
LIA’s description: housing loans, “associated taxation, and reliefs”, comparing housing loan options and housing loan insurance, “Arranging loans, remortgaging, and managing arrears or debt”, and consumer credit. LIA states: “To obtain the APA Loans designation, candidates must complete QFA Regulation and QFA Loans.”
FreeTests: Borrowing needs and types of credit · Housing loan types and interest rates · Mortgage lending rules
QFA Loans Essentials: free sample
Answer 3 questions against the clock, like the real exam. You then see the right answer, the reason and your time on each. About 5 minutes · free · no sign-in.
3 questions to answer▶ Start nowThis one is free · no sign-in neededYour result shows how long each question took you.What the outcomes cover, and the rules behind them (our map)
| Area | Main rules | Example detail |
|---|---|---|
| Consumer credit agreements, hire purchase, moneylending | Consumer Credit Act 1995 (revised): APR, form and content of agreements, the cooling-off period, hire-purchase, moneylending (Part VIII) | Section 50: a consumer may withdraw within 10 days of receiving the agreement or a copy, by written notice, and, in a credit agreement, may waive the right by signing a statement to that effect separately from any other term of the agreement (section 50(2)). It does not apply to a housing loan, a credit card or a credit institution’s overdraft. The revised Act also notes that Part IV, other than sections 42, 46, 47 and 48, does not apply to credit agreements to which Parts 2 to 7 of the 2010 Consumer Credit Agreements Regulations apply; provisions relating to a contract of guarantee for such an agreement still apply |
| Mortgage credit | European Union (Consumer Mortgage Credit Agreements) Regulations 2016 (S.I. 142 of 2016) | Information and conduct rules for mortgage lenders and intermediaries |
| Mortgage measures | Housing Loan Requirements Regulations 2022 (S.I. 546 of 2022), amended 2026 (S.I. 141 of 2026) | LTI 4× / 3.5×; minimum deposit 10%, or 30% for buy-to-let; allowances of 15% for first-time and for second or subsequent buyers and 10% for buy-to-let |
| Lending conduct | CPC 2025 Part 3, Chapters 1 to 6 | Affordability before extra credit; no unsolicited pre-approved credit (Reg. 161); mortgage information and a +2% stress test (Reg. 182) |
| High-cost credit | CPC 2025 Part 3, Chapter 8 (high cost credit providers; Chapter 11 covers arrears on high cost credit agreements) | A high cost credit provider may make unsolicited contact with a consumer other than an existing consumer only with permission the consumer signed within the previous 12 months, or after a qualifying referral (when it must tell the consumer of the referral and ask for consent to proceed), and then only between 9.00 a.m. and 9.00 p.m., Monday to Saturday, excluding public holidays, unless the consumer asks otherwise (Reg. 201) |
| Mortgage arrears (MARP) | CPC 2025 Part 3, Chapter 9: arrears on mortgage debt secured by the borrower’s primary residence (the Code of Conduct on Mortgage Arrears is revoked: Regulation 418) | MARP applies once a mortgage is 31 calendar days in arrears (Reg. 240) |
| Other arrears | CPC 2025 Part 3, Chapter 10 | Action within 3 working days of 31 calendar days of arrears; updates every 3 months |
| Housing loan insurances | Mortgage protection insurance (CCPC guidance) | Required by law when taking out a mortgage unless you cannot get cover due to age or health |
Our map of IOB’s and LIA’s Loans outcomes to the statutes and codes, from the sources listed at the end. Read each source for the exceptions; the example details are not a prediction of your paper.
The Central Bank mortgage measures
The Central Bank explains that the measures “work by setting limits on the amount of money that people can borrow to buy residential property using loan-to-income (LTI) and loan-to-value (LTV) limits.” The LTI limit is “a maximum of 4 times gross income for first-time-buyers and 3.5 times gross income for second/subsequent buyers.” First-time and second or subsequent buyers need a minimum deposit of 10%; buy-to-let buyers 30%. Lenders may lend above the limits for 15% of first-time-buyer lending, 15% of second and subsequent buyer lending and 10% of buy-to-let lending.
| Buyer | LTI limit | Minimum deposit (LTV) | Allowance above the limits |
|---|---|---|---|
| First-time buyer | 4 × gross income | 10% (LTV 90%) | 15% of FTB lending |
| Second or subsequent buyer | 3.5 × gross income | 10% (LTV 90%) | 15% of SSB lending |
| Buy-to-let | Does not apply | 30% (LTV 70%) | 10% of buy-to-let lending |
From the Central Bank’s mortgage measures page and S.I. 141 of 2026, read 27 October 2026. Neither limit applies to switcher mortgages (but, since 2026, not where the loan being refinanced is a principal home bridging loan) or to mortgages to address arrears or pre-arrears; the LTV limit does not apply to borrowers in negative equity selling to buy a new home; the LTI limit does not apply to buy-to-let, lifetime mortgages or bridging loans. In 2026 the Central Bank exempted “principal home bridging loans” from the LTI limit: a loan to buy a new principal home before the original one is sold, with a term of 18 months or less, no capital due until an exit event (the sale of the original home or the end of the term), and the full balance due then, without prejudice to voluntary repayments or the lender’s legal rights. The 90% LTV limit still applies, applied to the original principal home.
The Central Bank’s own worked example on its mortgage measures page. The LTV limit and the lender’s affordability assessment also apply.
The +2% stress test and other CPC 2025 lending rules
Before offering a mortgage to a personal consumer, a lender’s affordability assessment must include “a robust test of the personal consumer’s ability to repay the payment instalments due, over the duration of the mortgage agreement, on the basis of a minimum 2% interest rate increase above the interest rate offered” (Regulation 182(2)). The test does not apply where the rate is fixed for 5 years or more; for an introductory rate it is applied to the follow-on variable rate if that is known, or to the current variable rate if the follow-on rate could not reasonably be determined; interest-only mortgages need an additional assessment of the ability to repay the principal or the capital and interest when the interest-only period ends.
Other Part 3 rules we map to the Loans outcomes: a further affordability and suitability assessment before additional credit, including a top-up; no unsolicited pre-approved credit to personal consumers (Regulation 161); information to accompany mortgage calculators and approval-in-principle documents, switching information, an indicative comparison of total interest, a warning statement for interest-only mortgages, and the rules on switching away from a tracker rate (Regulations 168 to 193).
Arrears: the numbers in the MARP
| Point | Rule | Source |
|---|---|---|
| When the MARP applies | A mortgage account in arrears for 31 calendar days from when the arrears first arose, or when an alternative arrangement breaks down or expires; for pre-arrears cases only some communication steps apply, with Regulations 251 to 257 in full | CPC 2025, Regs. 240 and 241 |
| 31-day arrears notification | Within 3 working days of the account being 31 calendar days in arrears, the lender must take the actions Regulation 245 lists, including notifying each borrower, and any guarantor unless the mortgage contract explicitly prohibits it, of the account’s status | CPC 2025, Reg. 245 |
| While arrears persist | Updated information every 3 months | CPC 2025, Reg. 247 |
| Three repayments missed | Where 3 full repayments are missed and remain outstanding and no alternative repayment arrangement is in place, the borrower is notified of the consequences, including of not co-operating | CPC 2025, Reg. 248 |
| Legal proceedings | If the lender refuses an alternative arrangement (Reg. 255), the borrower is told proceedings may start after 3 months from the date the reasons were given, or 8 months from when the arrears first arose, whichever is later. If the borrower does not agree to an arrangement offered (Reg. 256), it is 3 months from the date the required information was given, or 8 months from when the arrears first arose, whichever is later | CPC 2025, Regs. 255 and 256 |
| Charges | No charges or surcharge interest on arrears while the borrower is co-operating (Chapter 9: mortgage debt on the primary residence) | CPC 2025, Reg. 232 |
From Part 3, Chapter 9 of the Section 48 (Consumer Protection) Regulations 2025. Citizens Information explains the MARP for borrowers in plain language.
To practise these rules against the clock, the ProSyllabus QFA Loans mock test gives you two full mocks of 100 questions in 2 hours, every answer explained with the Consumer Protection Code, Minimum Competency Code or statute it rests on, a score by topic after each mock, and 4 questions free.
Three QFA Loans practice questions
These are three of the four free questions of our Loans mock test, printed as they appear in the test with the explanation it gives after you answer.
Question 1 · Borrowing needs and types of credit
According to the CCPC, a credit card holder who uses the card to withdraw cash will usually:
- pay no interest if the bill is cleared that month
- pay interest from the date of the withdrawal
- pay interest only on amounts over the credit limit
- get the same interest-free period as purchases
Answer: B. The CCPC explains that most providers do not offer an interest-free period on cash withdrawals, so interest runs from the date the cash is withdrawn. The interest-free period, generally about 56 days, applies to purchases when the bill is paid in full by the due date. Source: CCPC, Credit cards (interest-free period and cash withdrawals).
An original question from the free sample of the ProSyllabus QFA Loans mock test. It is not an IOB, LIA or III exam question and no awarding body has written or endorsed it.
Question 2 · Housing loan types and interest rates
Under the Consumer Protection Code 2025, a ‘tracker interest rate’ is a mortgage interest rate that:
- is fixed for an initial period and then reverts to a variable rate
- is set at the lender's discretion with reference to its own funding costs and margins
- changes only when the borrower moves to a new loan-to-value band
- tracks a publicly available rate both parties can verify, such as the ECB rate
Answer: D. Regulation 2(1) defines a ‘tracker interest rate’ as ‘a mortgage interest rate which tracks a rate which comes from a publicly available source which can be verified by both the consumer and the regulated entity, including without limitation, a rate that tracks the European Central Bank main refinancing operations rate’. A rate set at the lender's discretion is a variable rate that is not a tracker. Source: Consumer Protection Code 2025 (S.I. 81 of 2025), Regulation 2(1) (definition of ‘tracker interest rate’).
An original question from the free sample of the ProSyllabus QFA Loans mock test. It is not an IOB, LIA or III exam question and no awarding body has written or endorsed it.
Question 3 · Mortgage lending rules
A personal consumer submits a mortgage application with every document the lender needs. Under the Consumer Protection Code 2025, the lender must acknowledge receipt of the complete application within:
- 3 working days
- 5 working days
- 10 working days
- 2 working days
Answer: A. Regulation 179(a) requires acknowledgement of a complete mortgage loan application within 3 working days of receipt of all documents and information needed. Where an application is incomplete, it must still be acknowledged within 3 working days, listing the missing items. Source: Consumer Protection Code 2025 (S.I. 81 of 2025), Regulation 179(a)-(b).
An original question from the free sample of the ProSyllabus QFA Loans mock test. It is not an IOB, LIA or III exam question and no awarding body has written or endorsed it.
| Question | Topic | Answer |
|---|---|---|
| 1 | Borrowing needs and types of credit | B: pay interest from the date of the withdrawal |
| 2 | Housing loan types and interest rates | D: tracks a publicly available rate both parties can verify, such as the ECB rate |
| 3 | Mortgage lending rules | A: 3 working days |
The table repeats the answers for readers on a version of this page that does not show the question cards.
FreeTests: Borrowing needs and types of credit · Housing loan types and interest rates · Mortgage lending rules
QFA Loans Essentials: free sample
Answer 3 questions against the clock, like the real exam. You then see the right answer, the reason and your time on each. About 5 minutes · free · no sign-in.
3 questions to answer▶ Start nowThis one is free · no sign-in neededYour result shows how long each question took you.About “QFA Loans past exam papers”
Neither IOB nor LIA publishes QFA Loans past papers on the pages we read. LIA gives its registered students sample multiple-choice questions through ‘Take a Test’ and a chapter weighting table. A paper written before 24 March 2026 would predate the Consumer Protection Code 2025’s entry into force, and its Regulation 418 deals with the revocation of the earlier Code and the Code of Conduct on Mortgage Arrears; our advice is to check any older material against the current rules.
How to study Loans
| Step | What to do (our suggestion) |
|---|---|
| Learn the limits table | LTI, LTV, allowances and exemptions: know which limit applies to which buyer and which loans are outside them. |
| Work the calculations | Practise LTI and LTV sums both ways: maximum loan from income and price, and the deposit needed. |
| Follow an arrears case through | Walk a borrower from 31 days in arrears to an alternative arrangement or to legal proceedings, with each time limit. |
| Sit a timed mock | 100 questions in 2 hours, then rework every question you missed against the rule. |
Study suggestions are ours; the rules are from the sources above.
Frequently asked questions
What is the QFA Loans exam?
A 2-hour online exam of 100 multiple-choice questions on housing loans and consumer credit, run by IOB and LIA. It is one of the six QFA modules and, with QFA Regulation, gives APA Loans.
What do I need for APA Loans?
QFA Regulation and QFA Loans. The Minimum Competency Code recognises APA (Loans) for mortgage and housing loans and for consumer credit.
Are the mortgage measures in the QFA Loans exam?
IOB lists Central Bank requirements and the impact of regulation on housing loans among the module’s outcomes. The measures set LTI limits of 4 times gross income for first-time buyers and 3.5 times for second and subsequent buyers (subject to the exemptions), and minimum deposits of 10%, or 30% for buy-to-let.
What is the mortgage stress test in the CPC 2025?
Regulation 182 requires a lender to test a personal consumer’s ability to repay on the basis of an interest rate at least 2% above the rate offered, except where the rate is fixed for 5 years or more; for an introductory rate the test uses the follow-on variable rate if known, or the current variable rate if that could not reasonably be determined.
When is QFA Loans next sat?
With LIA on Saturday 23 January 2027; the timetable lists 8:30am and LIA emails each candidate’s exact start time (register by 6 November 2026). With IOB in the 6–16 January 2027 session (closing date 4 November 2026), or the April and July 2027 sessions for Regulation, Loans and Investment only.
Are there QFA Loans past papers?
Not on IOB’s or LIA’s pages we read. LIA gives registered students sample questions through Take a Test. A paper from before 24 March 2026 predates the CPC 2025’s entry into force.
For APA Loans, the APA starter pair gives you the Regulation and Loans mock tests together.
Sources
- official — IOB: Professional Diploma in Financial Advice (QFA), programme page with modules, learning outcomes, assessment, fees, entry requirements and 2026/2027 key dates (read 27 Oct 2026)
- official — LIA: QFA, Certificate in Professional Financial Advice (modules, fee, assessment, award, study supports)
- official — LIA: APA Designations (QFA Regulation plus one other module; fee; assessment)
- official — LIA: Level 7 Exam Timetable 2026-2027 (registration closing dates, exam dates and times, provisional and ratified results), linked from lia.ie
- official — IOB: Key Dates for extra sitting QFA modules in 2026/27 (PDF: trimester start, closing date, exam session and results release for five intakes)
- official — Central Bank of Ireland: Minimum Competency Code 2017 and Regulations (page, with the Unofficial Consolidated Minimum Competency Code, June 2026: scope, new entrants, CPD and Appendix 4 recognised qualifications)
- official — Central Bank of Ireland: Consumer Protection Code 2025, Central Bank (Supervision and Enforcement) Act 2013 (Section 48) (Consumer Protection) Regulations 2025, S.I. No. 81 of 2025, in force from 24 March 2026
- official — Consumer Protection Code 2025, Part 3: Consumer Banking, Credit, Arrears and Certain Other Financial Arrangements
- official — Consumer Protection Code 2025, Part 6: Final Provisions and Revocations (Regulation 418)
- official — Central Bank of Ireland: Mortgage measures (loan-to-income and loan-to-value limits, allowances, exemptions, 2026 bridging-loan change)
- official — S.I. No. 546 of 2022, Central Bank (Supervision and Enforcement) Act 2013 (Section 48(1)) (Housing Loan Requirements) Regulations 2022
- official — S.I. No. 141 of 2026, Housing Loan Requirements (Amendment) Regulations 2026
- official — S.I. No. 142 of 2016, European Union (Consumer Mortgage Credit Agreements) Regulations 2016
- official — Consumer Credit Act 1995 (revised, Law Reform Commission)
- official — CCPC: Mortgage protection insurance
- official — Citizens Information: Mortgage Arrears Resolution Process
- official — CCPC: Credit cards (interest-free period and cash withdrawals)
- official — CCPC: Understanding mortgages (variable interest rates; tracker mortgages)
- official — S.I. No. 81 of 2025 on the Irish Statute Book (the Consumer Protection Code 2025 as made): Regulation 2(1) definition of “tracker interest rate” and Regulation 179
official = a document published by the conducting body. reported = a news or coaching site we could not check against an original. Where sources disagree this page says so rather than picking one.
FreeTests: Borrowing needs and types of credit · Housing loan types and interest rates · Mortgage lending rules
QFA Loans Essentials: free sample
Answer 3 questions against the clock, like the real exam. You then see the right answer, the reason and your time on each. About 5 minutes · free · no sign-in.
3 questions to answer▶ Start nowThis one is free · no sign-in neededYour result shows how long each question took you.
