Certified Documentary Credit Specialist (CDCS) is a title in international trade finance. You have to pass a written examination that takes three hours in order to be qualified as a CDCS. By having a CDCS certificate you can prove your knowledge and application of the skills required for competent practice in international trade finance. CDCS certificate is endorsed by ICC so it is recognized in a global scale. On this page you will find more information about CDCS certificate.
What topics does CDCS certificate cover?
Documentary credits - an overview, types, characteristics and uses, including standby credits
Parties to documentary credit transactions and their roles and obligations
Types and methods of payment / credit used in documentary credit transactions, including the concept of autonomy
Types of transport, commercial and financial documents used in documentary credit transactions
Risk issues, including types of risks, control and possible mitigations
Related products, including letters of indemnity, Air Way Releases and Steamship Guarantees
Implications of breaching rules including money laundering and terrorist financing
Who can enter CDCS certificate examination? Are there any unexpected obstacles?
There are no entry requirements for CDCS certificate examination. Anyone can enter CDCS examination. But please keep in mind that CDCS examination is not an easy to pass examination. You have to prepare yourself to CDCS examination questions. Examination takes place in English language only. You have to read the questions very fast as time constraint is one of the biggest problem on the examination. Also IFS recommends that students have a minimum of three years’ documentary credit or related experience for their benefit.
What Is the CDCS® Examination Format?
Assessment for CDCS® consists of a 3 hour multiple-choice examination, designed to test knowledge and its application to practical situations. The examination paper consists of 70 multiple-choice questions, 3 in-basket case studies and 3 document checking simulations.
The content of the CDCS® examination is based on the results of a job analysis study that identified key responsibilities of a documentary credit practitioner and areas of knowledge and skills required for competent practice. To earn the professional designation you are required to pass a three-hour examination that is designed to test your knowledge and its application to practical situations. The examination is based on an English study text. The examination consists of multiple choice knowledge and application questions as well as sample in-baskets and simulations that test for analysis skills.
USA, Canada and South America CDCS examination which is held by BAFT-IFSA cost you around 800USD.
All other countries CDCS examination which held by IFS School of Finance cost you around 550GBP. (650EUR)
*for exact and up-to-date cost please refer to above official websites.
How to prepare CDCS examination?
You have to study by yourself to CDCS examination. Once registered a textbook is sent to every candidate by post. This text book is "The Guide to Documentary Credits" written by Gary Collyer. This book will be your main textbook. Also you can enter ifschool's website with your password to reach online materials. Preparation for the examination usually takes six months with comprehensive learning materials provided.
What is the scope of the CDCS examination?
You can reach CDCS® examination learning outcomes and assessment criteria from this link.
What is CDCS Certification (Certified Documentary Credit Specialist)?
Certified Documentary Credit Specialist (CDCS) is a title in international trade finance. You have to pass a written examination that takes three hours in order to be qualified as a CDCS. By having a CDCS certificate you can prove your knowledge and application of the skills required for competent practice in international trade finance.