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ABI / ICM Trade Credit Award Insurance (QCF)
The ICM has developed the Level 2 unit in partnership with the Association of British Insurers (ABI).
The unit aims to provide brokers and underwriters with a general knowledge and understanding of the principles of trade credit insurance.
On completion learners will have a basic understanding of:
- The principles of trade and political risk insurance and how it operates
- Legal principles relating to contracts and agency
- How the insurance market meets Financial Services Authority (FSA) regulation
- Accounting principles including the structure and analysis of accounts, sources of finance and working capital, and the setting of credit limits
- The main terms and methods of payment in domestic and export trade
Study Method
Learners register with ICM Training to gain access to the ABI designed online learning course for a period of 6 months. Learners should allow approximately 4 hours a week (depending on experience and prior knowledge) to complete. The programme includes a series of simple fact sheets and multiple-choice questions.
Learners who successfully complete the online questions will receive a course completion certificate from the ICM.
Assessment
Learners who wish to then gain the nationally accredited award in Trade Credit Insurance need to register with the ICM Awarding Body and take an external e-test which is independently invigilated. This award is worth 9 Level 2 Credits an ICM Diploma in Credit Management.
Assessment for the accredited Level 2 Award in Trade Credit Insurance involves a one-hour e-test with 60 multiple choice questions. The test is available four times a year from June 2009 at over 150 Pearson-Vue e-testing centres in the UK and on prior arrangement at selected centres overseas.
How to get started
- To register, complete the ICM/ABI Learning Partnership Registration Sheet (visit the web-link above) and return to the ICM Training Department with payment (£50 + VAT per person). ICM Training will then issue passwords so learners can access the online learning materials for a period of 6 months.
- Additionally, if learners plan to take the external e-test, they will need to register with the ICM Awarding Body through completion of registration forms (unless they are already ICM Members). Registration lasts for a year during which time learners automatically receive the benefits of membership of the Institute of Credit management. This includes discounts and access to the Institute's information and advice network. (See 'Membership' section of this website)
- Once learners are registered with the ICM Awarding Body, they can book their e-test online (£68). The ICM advises early booking to give a wider choice of venue. The next available Test is Monday 12 October 2009.
