Frequently asked questions about CDCS Exam

What is CDCS Certification?

CDCS (Certificate for Documentary Credit Specialists) is a globally recognized standard of competence in documentary credit operations. It is created by the London Institute of Banking and Finance (LIBF) in collaboration with industry experts and managed in partnership with the International Chamber of Commerce (ICC). The program is also supported by the Bankers Association for Finance and Trade (BAFT).

The Certificate for Documentary Credit Specialists is an industry-leading qualification that will develop expertise in this field, providing you with a comprehensive understanding of the products, parties, processes and rules that underpin documentary credit transactions.

Who Should Take the CDCS Test?

The CDCS test is ideal for professionals in trade finance, banking, and documentary credit operations. While at least three years of industry experience is recommended, candidates who complete the CPC program offered by IFTS Learning can confidently take the test, even without prior experience, due to the comprehensive preparation provided in the program.

Why Study CDCS?

Studying CDCS enhances your expertise in documentary credits, improving your knowledge of best practices and regulatory compliance. It helps develop practical skills for the workplace, boosting performance and customer relationships while fostering innovation in service delivery.

Entry Requirements for CDCS

Candidates must have proficiency in English, sufficient to study and comprehend the course material effectively.

Registration Fees for CDCS

  • The fee for the full qualification is £695.
  • For Indian students, the approximate fee is INR 75,000.
  • Students from Bangladesh, China, Indonesia, and South Korea should contact their respective country representatives for registration details.

What is the CDCS study duration?

You will have 12 months from the date of registration to complete the qualification.

Where are the CDCS exam centres located?

The CDCS on-demand exam is conducted electronically at designated Pearson VUE test centres worldwide, including locations in India. Candidates must register with their respective test centre at least three weeks in advance by navigating to the following link:
https://www.pearsonvue.com/us/en/libf/onvue.html

CDCS Assessment

The CDCS assessment is conducted electronically on demand at specified centers. Candidates must register at least three weeks in advance.

The examination lasts three hours and 15 minutes and is divided into two sections:

  • Section A:
    • 60 multiple-choice questions (60 marks)
  • Section B:
    • 10 multiple-choice questions (10 marks)
    • Three document-checking exercises, each requiring the identification of five discrepancies from a choice of ten. Each simulation carries 10 marks, totaling 30 marks.

The exam is scored out of 100 marks, with the following requirements:

  • Overall passing percentage: 70%
  • Minimum score in Section B: 60%
  • No negative marks

What is the validity period of the CDCS certificate?

The CDCS certificate is valid for three years from the date of issue. After this period, the certification must be renewed to maintain its validity.

What is the procedure for CDCS re-certification?

To renew the CDCS certification, candidates must meet the following requirements:

  1. Professional Development Units (PDUs):
    • Earn 36 PDUs within the three-year certification cycle by participating in relevant professional activities, such as attending workshops, seminars, or completing courses approved by LIBF.
    • Submit evidence of these activities to LIBF for validation.
  2. Re-certification Exam:
  3. If the required PDUs are not achieved, candidates must retake and pass the CDCS examination to maintain their certification.

It is essential to keep track of your PDU credits and adhere to LIBF’s guidelines to ensure a seamless re-certification process. For more details, visit the LIBF website or contact their support team.

What happens if a candidate fails the CDCS exam?

Candidates who do not pass the CDCS exam can re-sit the test by registering again and paying the re-sitting fee. The fee amount may vary and can be confirmed by visiting the official LIBF website or contacting their support team.

What are the benefits of earning the CDCS certification?

Earning the Certified Documentary Credit Specialist (CDCS) certification offers several benefits:

  • Global Recognition: Establishes you as a specialist in documentary credits, respected worldwide.
  • Career Advancement: Enhances your professional credentials, opening doors to better opportunities in trade finance and banking.
  • Professional Credibility: Demonstrates your commitment to maintaining high standards of expertise in documentary credit operations.
  • Networking Opportunities: Connects you with a global community of trade finance professionals.
  • Enhanced Job Performance: Equips you with practical skills to handle complex trade finance transactions effectively.

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