The Credit Institute recognizes that some credit professionals may have knowledge in a subject matter through prior education and/or experience. A challenge exam enables an applicant to achieve credit in a required subject area without taking a course.
At this time, the two courses eligible for a challenge exam are:
- Fundamentals in Business (FB1)
- Financial Accounting for Credit Professionals (FAC1)
The Challenge Exams are 3-hour long each and based on the material of the full courses listed above. The passing grade is 65%.
The prerequisite for writing a CCP Course Challenge Exam is that you are registered as a student member by paying the required membership fees.
Additionally, the cost for each challenge exam is $375.00 plus GST/HST. This does not include textbooks. Candidates approved to write the exam will receive access for a month to course lectures and other materials for preparation.
A Challenge exam can only be attempted once. If a candidate does not receive the minimum passing grade, they will be required to register in the full course(s).