The recognised standard
in credit management
Established in 1939, the Institute of Credit Management is Europe's largest association for the credit management profession

Methods of study

Once you have registered with the ICM you need to decide how and where to study.  It is entirely your choice and there are various options, as explained below.  Fees vary according to the amount of support required and method of study chosen.

Evening classes

ICM qualifications are taught at over 20 teaching centres, mainly as evening classes.  Course programme managers are able to provide advice on enrollment dates, class times and tuition fees, and the Institute will help you make contact.

For a full list of teaching centres please click here.

Evening classes start in January and September.

In Company Classes

In-company classes are also available, and most learning providers and the ICM offer in-company classes for ICM exams or assignments.  Fees depend upon the location and length of course and are generally cost effective for groups of over 10 learners.  T: +44 (0)1780 722909.

more infoVirtual Classroom

Virtual classes start in January, June and September.

Contact ICM Credit Academy to register your interest for the next classes – E:

The ICM Credit Academy offers the opportunity to study in a virtual classroom for the Level 3 Diploma examined units Credit Management, Accounting Principles, Business Law and Business Environment and units towards the Level 5 Diploma.

Classes are led by an experienced tutor.  The class is interactive and you have plenty of opportunity to ask questions and test your knowledge.  You will hear the presenter through the telephone and see interactive PowerPoint slides on your PC.

The classes for Level 3 Diploma units in Credit Management (TEC) and Business Environment comprise of 10 x 1½ hours sessions, Accounting Principles and Business Law run over 10 x 2 hour sessions.  Classes for Level 5 Diploma assignment units comprise of 6 x 2 hour sessions and examined units 13 and 1.5  hour sessions.  In addition learners will need to spend approx 5 – 6 hours a week on home study.

The fees will be: £395 per unit – Credit Management (TEC) and Business Environment, £450 per unit – Accounting Principles and Business Law and £435 per unit – Level 5 Diploma units.  Plus the cost of study material (see ICM bookshop) and assessment fees.  The price of the call from a UK land-line will be included in this fee.  Calls from mobiles and overseas may incur additional charges.  Please note you will also need internet access.

Everything you need to know about Virtual Classrooms.

Training Seminarsmore info

The ICM and some other learning providers offer one-day training seminars for ICM assignments.

Contact the ICM on T: +44 (0)1780 722909 or E: for further details.  In some cases organisations have their own training which links to ICM units.  The Institute can advise on the suitability of any company training.

Supported Home study (with or without Saturday classes)more info

Supported home study suits those who wish to receive tutorial support or prefer flexibility.

Supported home study without Saturday class

1) London Metropolitan University runs online home study courses for Credit Management (trade, export & consumer), Accounting Principles, Business Law and Business Environment towards the ICM Level 3 Diploma.  This consists of test yourself questions, a multiple choice self- assessed mock examination, use of a discussion board and email tutor support.  A tutor also sets and marks six assignments and a mock examination.

Price: Level 3 Diploma £300 per unit, payable to London Metropolitan University, plus the cost of the appropriate study text, available from the ICM Bookshop.

2) The ICM Learning Support service offers a practical option for people unable to attend college classes who wish to study for the ICM Level 3 Diploma in Credit Management examined units and Level 5 Diploma units.  Study materials and tutorial support is included.

Packages available:
Tutor support package: Level 3 £295, Level 5 £335
(See syllabus for units/levels available)

Level 3-5 Tutor support package includes:

  • Text books (Level 3 only)
  • Study text
  • Initial guidance on how to plan your studies
  • 6 month contract for tutorial support – 1 1/2 hours for Level 3, 2 hours for Level 5, via email and telephone
  • 3 examination questions with written feedback
  • Online sample questions for Credit Management/Business Law/Business Environment
  • Past question papers and answers (Accounting Principles, Financial Analysis, Legal Proceedings and Insolvency)

3) The Organisational Learning Centre, (OLC Europe), based in Manchester offers a supported home study programme for Credit Management (trade, export & consumer) Accounting Principles, Business Law and Business Environment towards the ICM Level 3 Diploma.

Course includes:

  • Initial face to face induction session for separate modules
  • Guidance in timetabling of work
  • Extra course notes supporting the main syllabus topics
  • Past exam questions and sample answers
  • 5 marked assignments with written feedback
  • Access to 1.5 hours of telephone / email / face to face support
  • 3 marked past examination questions per unit
  • Half day weekend revision session for each separate module
  • Further email/telephone/face to face tutor support available at an hourly rate

Price £395.00 + £24.50 registration fee payable to OLC Europe


Supported home study with Saturday classes

Haddoum Training, Milton Keynes offers home study with the support of 3 tuition days for Credit Management (trade, export & consumer), Accounting Principles, Business Law and Business Environment towards the ICM Level 3 Diploma and subjects towards the Level 5 Diploma.

(Saturdays 09:30 - 15:30) The Institute’s study texts are used as the basis of the programmes.

Prices: from £500 per subject payable to Haddoum Training plus the cost of the appropriate study text.

Unsupported Home Studymore info

This provides the cheapest and most flexible option, since no tutorial support is provided.  As a minimum requirement you would need to purchase relevant study texts for an examined unit.  These consist of notes covering the main syllabus topics and a number of self-assessment questions & exercises.  The ICM syllabus is available to guide your study and the our Study materials section can assist with supporting material.  This is not a correspondence course and in using this method you work alone.

Cost: Study text from £40 per unit