Only 10 per cent of brokers want to take the mortgage advice qualification while 25 per cent prefer the rival Cemap exam, says specialist lender Sun Bank.
Most of the 100 brokers questioned who had a preference on which exam to take to meet the MCCB's minimum qualification standard chose the Institute of Financial Services' Cemap bridge paper for its flexibility.
Brokers prefer the IFS paper because of its multiple-choice format compared with the Chartered Insurance Institute's Cemap paper which includes written case studies.
The report shows that brokers like being able to sit Cemap electronically at driving school test centres around the country and get their results immediately.
Brokers taking the Maq exam must register in advance for a public exam sitting and wait about six weeks for feedback.
Sun Bank marketing director Chris Cummings says: “IFS has built up a high profile and its computer based multiple-choice format gives it the edge over Maq.”
CII public relations manager Steve Radford says: “This year, we have taken steps to make Maq more flexible with initiatives like online learning, more revision courses and three extra public exam sittings.”