ICM credit management qualifications include a range of units which vary in size from one to ten credits (one credit represents ten learning hours).  Learners can complete any number of units and in any order.  Each unit award is individually certificated and requires between one and six months of learning.  Some units involve a final online or written examination and others are assessed by a written assignment which requires work-based evidence.  An ICM Diploma takes about two years to complete, depending on how many units a learner takes at one time and the amount of credits transferred from other qualifications.

Awards in Credit Management

Level 2 and Level 3 unit awards demonstrate knowledge and skills in a specific area of credit management. Learners gain a certificate following successful completion of examination or assignment and credit towards a diploma in credit management or qualifications in debt collection, and money and debt advice. The unit awards are designed for roles such as credit controllers, collectors, credit analysts and credit managers, and people for whom credit management forms a small part of their role.

Diplomas in Credit Management

Level 2 and Level 3 Diplomas in Credit Management demonstrate expertise and detailed knowledge in credit management. Learners need to accumulate at least 37 credits including one credit management principles unit (maximum two units). The qualification establishes the level of competency required for roles such as credit controllers and telephone collectors.

There is some flexibility because learners could include up to 15 credits from the level below, for example, inclusion of credit from a Level 2 pass in credit management towards the ICM Level 3 Diploma in Credit Management.  Also, learners could bring up to 15 credits from other qualifications, such as management and leadership or customer service. 

Rules of combination for credit management qualifications

Level of qualification

Level 2 and Level 3 learners study from the same learning materials and results depend on the level of response in an examination or assignment. The level of the final qualification will depend on the level of units that are passed.  For example, the ICM Awarding Body will automatically award a Level 3 Diploma in Credit Management on achievement of at least 37 credits at Level 3. Level 2 achievement demonstrates general knowledge and skills. Level 3 achievement demonstrates in-depth knowledge and expertise.

All units are assessed at multiple levels and therefore learners do not need to decide whether to start at Level 2 or Level 3.  However, the ICM can provide a Level 2 assignment if preferred. Learners just need to remember to include a credit management principles unit in their selection to gain an ICM Diploma.  Also, if they plan to progress to the Level 5 Diploma in Credit Management they are advised to gain Level 3 passes or exemption from credit management, accounting principles, business law and business environment.  See unit details for the full list of ICM units.

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