Q. How do I start my studies?
Q. What support is available for me?
A. Once you are registered with the ICM you will receive automatically:
- notice of any changes to the education scheme, or syllabus, as they occur
- examination entry forms and other examination documentation
- access to the Institute's website and members' bulletin board, with the opportunity to raise educational
Q: What units do I need to pass to get a Diploma?
A: Each Diploma includes a range of units which are individually certificated and cover principle knowledge, skills, and competency areas such as management and leadership. You can either take individual unit awards or work to build credit for an ICM Diploma.
Q: How many units will I need to pass to gain an ICM Diploma?
A: It depends on the size of the unit. ICM units vary in size from 3 to 10 credits (one credit represents 10 learning hours) and you need to gain at least 37 credits for a Level 2 or Level 3 Diploma following simple rules of combination.
Q: Can I include any units?
A: Yes, although to get a Diploma you will need to include at least one credit management principles unit.
Q: What professional qualifications does the ICM offer?
A: ICM offers nationally accredited qualifications in credit management, trade credit insurance, debt collection and money and debt advice.
Q: When are the examinations?
A: Written examinations are held in January and June. Online examinations in January, June and October. Also you can submit assignments in January, June and October.
Q: I already have business related qualifications, will I need to take all the exams?
A: Probably not, you may get exemptions from Accounting Principles or Business Law or Business Environment and so you would only need to complete a Credit Management unit and any we are not able to exempt you from to get the ICM L3 Diploma. You need to send us a copy of your certificate and transcript so that we can make an assessment. There is a small fee for this service.
Q: Where do I buy my study text from and what is the cost?
A: Study texts cost £40 - £45. Past question papers with answers and samples of candidates answers are £16 each. These are all available to purchase from the ICM bookshop or online at our website, and sample online questions cost £25.00+ Vat
Q: How long will it take me to become qualified?
A: It depends on how many units you take per year. If you take 2 examined units, it would take you 2 years to complete a Level 2 or 3 Diploma. You would probably need another 2 years to complete the ICM Level 5 Diploma and reach Graduate level (MICM(Grad)).
Q: How do I register for assessment?
A: For written exams and assignments you will need to fill in an assessment entry form which is sent to you automatically in April, September/October once you have registered with the awarding body. For the online exams you will need to register online - but the assessment entry form will remind you of this.
Q: When will I get my results?
A: 2 - 3 months after the exams or submission of an assignment. We will issue you with a password so that you can access your results from the ICM website, and they are
Q: Will I get a certificate?
A: Yes, you get a certificate for every unit award you complete 4 weeks after results day, and a final award certificate on completion of an ICM Diploma.
Q: What happens if I fail an exam?
A: If you do not achieve the required pass mark for the Level 3, you may achieve a level 2. If you fail, you just enter again for the next exam. If you do fail it is worth requesting a remark and report. For a small fee we will send you a copy of your answer booklet with the question paper and answers, and comments and advice on your answers
Q: I am dyslexic. Is there any additional help for me?
A: Yes, but you will have to have an up to date psychological report to prove your dyslexia and to advise us on whether you need extra time, a computer or a scribe in the exam.
Q: I am unwell, am I able to postpone my examination?
A: Yes, you just need to send in a doctor's note or copy of a hospital appointment card to verify your injury and we will transfer your exam fee through to the next exam series.
Q: I am not ready for my exam, am I able to put it off?
A: Yes, if you let us know before the exam entry closing date. If you decide to cancel after this unfortunately you would forfeit your exam fee as we would have already made arrangements for your examination.
Q: I am not keen on exams, do you have any alternative?
A: Yes, we now have awards that are tested by assignment and based on one day workshops in areas such as telephone collections, negotiating and influencing skills, customer relations and cash collections, and collections team management.
Q: I have just finished the ICM Diploma, what would you recommend next?
A: If you do not have a first degree, you may be interested in converting your ICM Diploma into a Foundation Degree in Credit Management. As the qualification is at the same level and has similar content, you are exempt from the majority of the degree and would only need to complete a unit on financial analysis and a management decision-making exercise. This would then give you access to the BA(Hons) Degree in Credit Management top-up year. You can study for both these qualifications while you are working full-time and most of the assessment involves work-based projects. Alternatively, if you have a lot of management experience, you could go straight from the ICM Diploma onto an MBA Degree course. This however is very expensive (£10 - £30k).
Q: What is a learning partnership and how do I set one up?
A: A learning partnership is set up between the ICM and any company that is keen to develop its credit department. We work closely together to achieve the company's training and development goals. I will arrange for one of the Education Team to send you details and to give you a call