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Certified Credit Executive Definition
Certified Credit Executive (CCE) is a professional certification issued to experts in the credit management discipline. CCE is a proof that its holder is competent in managing credit. The National Association of Credit Management (NACM) awards professionals who have been trained and certified competent in managing credit. CCE is an executive designation issued to individuals who have strong skills in managing credit and maintaining the standards and framework of credit management.
Understanding Certified Credit Executive (CCE)
Certified Credit executive is issued to persons who sit for exam in credit management and pass the exam. Once a person bags the professional designation, it shows that he has all the required skills for managing credit. Individuals are trained on how to undertake credit roles efficiently, proper credit management as well as financial and legal framework needed for effectively managing credit. After professionals obtain the Certified Credit Executive designation, they need to renew the certificate by paying a fee one in three years, Professionals are also required to continue taking online education and gain points that will help them sustain the certificate.
Qualifying for the Certified Credit Executive Exam
There are some requirements needed to qualify for the Certified Credit Executive Examination. The ways to sit for CCE examination are outlined below;
- An applicant is required to have a Credit Business Fellow (CBF) and the Credit Business Associate (CBA professional designations. Obtaining 125 points in career Roadmap is also required.
- Applicants who do not meet the first requirement are required to have a Bachelor’s degree, 10 years of experience in credit, financial or business management and 125 Career Roadmap points.
- The third way to sit for CCE examination is to have 15 years of experience in credit or financial management experience, 125 Career Roadmap points and not less than 57 of age.
- The fourth way to qualify for CCE examination is completing the second year of the Graduate School of Credit and Financial Management (GSCFM) program.
Certified Credit Executive Exam Structure
The Certified Credit Executive Examination aims to test participants on their knowledge in credit management, finance and legal management, as well as commercial law, domestic credit law and international credit law. Below is the structure of the Certified Credit Executive Exam;
- CCE examination has two sections and both are done for a four hour duration.
- Each of the sections of CCE exam is accorded 50 points.
- The first section of the exam contains essay questions on credit management, legal and financial management.
- The second section contains a case study where applicants are required to apply the knowledge they have gained in credit management to real world situations.
Studying for the Certified Credit Executive Exam
Before participants sit for CCE exam, the National Association of Credit Management (NACM) which is the coordinating body does not supply participants with mock questions to prepare them for the real examination. However, there are certain publications written by different authors that will help participants in preparing for CCE exam. Here are some relevant materials that can help prepare you for CCE exam;
- Cliff Miller: “How to Write a Credit Policy”
- Dr. Charles Gahala: “Credit Management: Principles and Practices” (3rd edition)
- Lyn M Fraser: “Understanding Financial Statements” (9th edition).
The National Association of Credit Management also has some publications that prepare participants for the CCE exam.
For members of NACM, the application fee and examination fee for Certified Credit Executive Certification cost $385 per applicant. Those that are not members of the association are required to pay a fee of $585 and application and exam fees. CCE certification is not life-long, successful applicants are required to renew their certification every three years. Recertification goes for a cost of $175 and $300 for members and nonmembers of NACM respectively.
Reference for “Certified Credit Executive – CCE”
- https://www.investopedia.com › Personal Finance › Career / Compensation