Level 4 Certificate for Documentary Credit

Specialists (CDCS®) – 601 / 1159 / 8

Student Handbook – Learning support

and assessment guidance

(August 2014)

ifs University College is a registered charity , incorporated by Roy al Charter.

The International Chamber of Commerce (ICC) is the largest, most representativ e business organization in the world.
Contents

Page

1. Study hints 3

Study hints and tips 3

Planning your studies 3

Planning a study timetable 4

Use time productively 5

Motivating yourself 6

2. Learning techniques, and tips for sitting the examination paper 6

Develop recall techniques 6

Active learning 8

Examine objectives, introductions, key points and conclusions 8

Apply active learning to note-taking 9

Mind maps 9
®
Tips for sitting the CDCS examinations 10

TABLES
Table 1 Example plan of a study session 4

Table 2 Example of a study timetable 4

Table 3 Effective learning techniques 6

Table 4 Recall techniques 7

Table 5 Selection of questions to help active study 8

FIGURES
Figure 1 Example of a mind map 10

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1. Study hints
This handbook aims to give structured guidance on how to study effectively. All students have
preferred methods of studying and revising – there is not only one right way! The following study hints
and tips aim to help you discover which methods work best for you.

Study hints and tips

To achieve your targets, it is important to study effectively. Effective study involves:

i. planning how to use your time;

ii. studying actively – thinking about and using the information that you are reading;

iii. note-taking in a way that helps you learn, rather than just memorise;

iv. revising throughout the course to build recall and develop your use of the material; and

v. practising the skills that you need to demonstrate in the examination.

Planning your studies

Planning involves more than simply deciding when and where to study, or which topics to cover.
Planning links to developing effective study strategies and time management skills in order to gain the
most from each study session (see Table 1). You may find the following tips useful.

i. Use frequent, short study sessions.

ii. Take breaks of at least five minutes between study sessions.

iii. Start sessions by reviewing related material and recalling key points.

iv. Preview the material for this study session.

v. Make notes in your own words during the study session, rather than copying phrases from
books.

vi. Spend time reflecting on what the information means to you.

vii. Summarise the key points at the end of the study session, deciding where you want to place
priority.

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 Table 1 Example plan of a study session

ACTIVITY TIMING

Review 5 minutes

Preview 5 minutes

Active reading and making notes 20 minutes

Summarise 5 minutes

Review session / check notes 10 minutes

Total: 45 minutes

Planning a study timetable

To develop your own plan, divide the topics into the number of weeks. Allocate topics to weeks and
then allocate activities to each of your study sessions. Consider developing a personalised weekly
timetable (see the example in Table 2), to help you manage your time and develop a routine. This
will encourage a study habit, making it easier for you to stick to your plan.

Table 2 Example of a study timetable

MON TUES WED THURS FRI SAT SUN

MORNING MORNING MORNING MORNING MORNING MORNING MORNING

Work Work Work Work Work Coffee Squash

LUNCH LUNCH LUNCH LUNCH LUNCH AFTERNOON AFTERNOON

Gym Revise Meet Jo to 4 x 45 mins New topic Z

notes from discuss on topic X (45 mins).
Monday topic W Revise topics
(15 mins) W, X and Z
(60 mins)

EVENING EVENING EVENING EVENING EVENING EVENING EVENING

Revise Play Movie New topic Party Allow extra

topic X badminton Y sessions if
(30 mins) (45 mins) needed

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Remember to plan time off for relaxation, too, and be flexible! If you become unable to study on a
particular day, see if you can fit the study into another time that same week. Managing your time on a
weekly basis means that you are unlikely to fall far behind your plan.

Getting started can be the most difficult stage of a study session. If you are struggling to get started,
try these activities to get you going.

i. Look at the first topic you need to study and brainstorm what you know. This will recall previous
experience, which encourages you to continue.

ii. Revise your last topic. This will remind you of how much you have achieved and get your brain
into study mode.

iii. If you are feeling demotivated, think about why you started to this course in the first place and
what your chosen qualification will enable you to do.

iv. Think of someone you know who has passed the exams – if they can do it, so can you!

v. Promise yourself a reward for studying for 45 minutes.

vi. If you are stuck, skip the difficult passage and go back to it later. This gives your subconscious
a chance to work on the problem. Also, later information may clear up the difficulty.

Using time productively

You can make good use of even small amounts of time.

i. Record descriptions of key concepts and theories – you can play them in your car or through
headphones.

ii. Carry ‘key points’ cards with you for quick reviews – you can revise in a queue or while
waiting for a meeting to begin.

iii. Use sticky notes to create your own memory joggers, such as mnemonics or pictures, and
stick them around the house for easy review.

iv. Create lists of business examples and link them to concepts and theories – you could keep
these on your desk to browse at intervals.

v. Practise answering review questions in your learning materials.

vi. Create your own glossary of terms, products and concepts that you can scan through quickly.

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Motivating yourself

Reward yourself when you achieve your goals. One of the best rewards is to meet your own targets:
answering self-assessment questions without having to look up the answers, and, ultimately, getting
your certificate. Holding a picture of these achievements in your mind can help to motivate you.

2. Learning techniques, and tips for sitting the examination

paper

There are a variety of learning techniques that you can use. As you progress with your course of
study, you will become more aware of which learning techniques work best for your preferred learning
style. Consider your own experience of studying. Are there any study techniques that have helped
you in the past? A number of effective learning techniques are given in Table 3.

Table 3 Effective learning techniques

EXAMPLE LEARNING TECHNIQUES

Study actively

Take notes effectively

Revise as you go

Think, apply, contrast

Read widely

Study groups

Trying to memorise information without reference to what you already know is an ineffective learning
technique. Relating information to existing knowledge and using information, rather than reading it
passively, creates an understanding that makes the information easier to recall later.

Develop recall techniques

Effective study must therefore concentrate on developing quick recall of the knowledge and skills. It is
generally easier to recall things that:

i. are used frequently;

ii. are significant or stand out as being unusual;

iii. are linked to other items in your memory;

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iv. happened recently – for instance, it is easier to remember what happened yesterday than what
happened last week (unless the event was unusual); and

v. happened at the beginning or the end of an event – for example, the start and end of a movie
are easier to remember than what happened in the middle.

Table 4 looks at characteristics of different recall techniques for effective study.

Table 4 Recall techniques

RECALL EFFECTIVE STUDY TECHNIQUES

CHARACTERISTI C

FREQUENT USE  Build reviews into your study sessions. Consolidated use forces
information into long-term memory.
 Revise material as you study.
 Plan to review the material at the end of each study session and at
intervals after that.
 Be selective about what you need to recall. Choose key concepts
and issues. Then recall these points regularly.
 Practise recalling and using information, for example answer self-
assessment questions or ask friends to quiz you.

SIGNIFICANT  Make the information you need to recall stand out, by emphasising
it.
 You could use colours, pictures, diagrams, mnemonics or mind
maps.
 Create exaggerated pictures in your mind to remember items.

LINKED  Link information to your own experience.

 Look for patterns in the material and relationships between items.
 Compare and contrast information. For example, compare
alternative theories and link them to examples from your own
experience.
 Link information by using tree diagrams or mind maps.
 If you have difficulty recalling numbers, link them to pictures with a
similar outline (for example, one is a pen, seven a cliff) or letters in
the alphabet (one is A, two is B, etc).

RECENT  Review key points regularly.

 Start each study session with a brief review of your last study
session.
 End each study session with a summary of what you have studied.

BEGINNING AND  Use short, frequent study sessions, so less time is spent ‘in the
END OF EVENTS middle’.
 Plan study sessions that are long enough to get you into a study

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 RECALL EFFECTIVE STUDY TECHNIQUES
CHARACTERISTI C

rhythm and habit, but not so long that there is a large amount of
time in the middle that is ineffective: 45 minutes is ideal, followed by
a break.

Active learning

Active learning means working with the material rather than trying to absorb it passively. It can be
applied to the way you read and take notes. Ask yourself key questions as you study , and note down
answers and ideas. Writing will help to keep you focused and studying actively. Table 5 outlines a few
questions that you can consider to help you study actively and remain focused.

Table 5 Selection of questions to help active study

QUESTIONS TO CONSIDER

What is the impact of this concept or theory on the topic being studied?

What examples from my own experience illustrate this point?

Do I agree with the point being made?

What are the key points from this paragraph or section?

How does what I have just read build on the argument put forward in the
previous paragraph or section?

When you have studied a section of your materials, take a break and then read your notes. Can they
be improved or made more significant, perhaps by underlining or colour-coding? Write a list of key
points. You could also make your own glossary of terms or quick notes on cards. Trying different
techniques will help you to determine which methods work best for you. Remember that studying and
recalling get easier with practice.

Reading for effective study is different from reading for pleasure – you will need to apply the principles
of active learning to reading.

Examine objectives, introductions, key points and conclusions

If there is a list of learning objectives in the material you are studying, read them first. These are your
targets in the section, and establish the main topics. Consider what you already know about the topics
and how close you are to achieving the objectives.

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Introductions have a similar function, as they contain a preview of the most important messages –
these are the ones the writer wants you to remember. The introduction can also tell you the structure
of the text. This helps you to get a picture in your mind of the different sections and their purpose.

Key points can be used during the preview and summary / revision stages of a study session.
Examine the list before you study the text, to identify the key points in the material. Review the list
after studying the section, to help you recall the key facts.

Conclusions provide a summary of the main concepts put forward in the text. Reading the conclusion
first highlights the main points to look for in the rest of the material. Reading it again after studying the
unit reinforces your learning.

Scan the pages to select the key messages. Look for names of theories and concepts, referenced
authors, bullet points, diagrams, tables, etc. This prepares you for the detailed information and helps
your recall later.

Previewing the unit headings enables you to understand the structure of the material and how topics
relate to each other. It is often useful to make a note of the main headings and subheadings in the
form of a diagram to make this clear. This will also be useful when you summarise the main points.

Read proactively – consider how items of information relate to each other. Critically assess what you
are reading and compare it with your own experience. Note your thoughts as well as the key points as
you are reading.

Once you have read the topic, use your notes and diagrams, or re-scan the material to get another
overview. Make sure that you understand how the key points relate to each other. Then write a
summary in your own words to consolidate what you have read.

Apply active learning to note-making

When making notes for your study, express the content in your own words. Aim to choose your own
key words that reveal the meaning of the material as succinctly as possible. You can also increase
your recall of information by making notes that link ideas together, which develops your understanding
of the topic. While writing your notes, remember to be creative, as this will help information to stand
out and will enable easier recall. Mind maps (described below) are an example of an effective note-
making technique. This technique can be used for brainstorming ideas, creating study notes or when
revising for the examination.

Mind maps

Mind maps are diagrams that are used to classify information and make links between items. To
create a mind map, write the topic in the centre of your page; in the sample mind map below (see
Figure 1) the topic is ‘Planning your studies’. Then consider the different aspects of the topic and
draw each aspect as a line radiating from the centre. Aspects of effective study i nclude group work,

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practice and making notes. You can then write more detailed comments and link them to the aspect
line (or lines) they relate to. Mind maps are useful for organising and structuring your ideas. As you
think about the topic, you will identify additional lines and create further links. Mind maps also create
an effective visual aid, which you can emphasise using colours, to help recall.

Figure 1 Example of a mind map

Tips for sitting the CDCS® examination

Successful examinations are about much more than what happens on the day; they are about the
way you feel, and how well you have studied throughout the course. Below are some hints and tips on
®
how to make sitting your CDCS examination as successful as possible.

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Go through the questions fairly quickly and sort them into categories as follows:

i. If you know the correct answer, do these questions first to build up your confidence and to get
them out of the way.

ii. If you are almost certain of the answer but a little unsure, give a response but try to go back
and review it at the end.

iii. If you do not know the correct answer, or think it may take longer than your average time
allocation to work out the answer, flag these and move on to the next question.

When you have been through all the questions, go back and do the following.

i. Revisit the questions you are almost certain of.

ii. Check that you have made the most appropriate response.

iii. Revisit the questions that you are unsure about or where you don’t know the answer. Now
you can spend some time thinking about these. Give your responses to the ones that become
clear on reflection or which you are almost sure about.

iv. Revisit the questions where you have no idea what the answer is. Eliminate the options that
you feel are the wrong answer and make a decision between the remaining options.

v. Check over all your answers at the end, if you have time.

The following tips may help you with answering multiple-choice questions.

i. Read every word carefully – a single word can change the whole meaning of a question.

ii. Be aware of any negatives in either the stem (question) or the options (answers). If you find
one, read even more carefully.

iii. Always read all options before choosing. Imagine a situation where the correct answer is (D)
and where (A) is very close but not totally correct. If you read only (A) and decide that it
sounds correct without bothering to read the other options, then you won’t see (D), which is a
better answer, and you will select the wrong answer. While question writers don’t deliberately
try to trick candidates, they are required to offer ‘distractors’ (wrong answers) that are
plausible.

iv. If you are struggling with a question, don’t be afraid to come back to it later, but make sure
you leave yourself enough time to do this.

v. If you can’t initially spot a correct option, see if you can work out reasons why any of the
options must be wrong. If you can eliminate all the wrong solutions, what is left must be
correct, even if you can’t fully explain the reason to yourself.

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vi. Don’t start second-guessing yourself and changing your original answers unless you are sure
you were wrong first time. You can waste a lot of time concentrating on just a few questions
and then find that your time is up and you haven’t finished. Only check your answers at the
end when you have answered all the questions.

vii. Make sure you answer every question. If all else fails, make an educated guess – it is better
to give an answer, even if you are unsure that it is correct, as marks are not taken off for a
wrong answer.

viii. Check the time periodically throughout the examination, so you always know how much time
you have left.

ix. For the case studies / simulations (Section B), the key thing is to read the documents /
information provided carefully. Distractors / incorrect options are designed to look plausible.

x. Please note that providing more answers than the number required will result in ifs University
College automatically awarding a 0 (zero) for that simulation / question.

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 Certificate for Documentary Credit
Specialists (CDCS) – 601/1159/8

About ifs University College

ifs University College is the university for financial education. London-based, it is a registered charity
incorporated by Royal Charter that exists to ensure a flow of talented individuals into the financial
services industry and related sectors. Its qualifications enable individuals to reach their full
professional potential and encourage appropriate and ethical practice. It also works to enhance the
financial wellbeing of future generations through its unique personal finance qualifications and wider
financial capability initiatives.
ifs University College
ifs House
4–9 Burgate Lane
Canterbury
Kent CT1 2XJ
T: +44 (0) 1227 818609 (option 1)
E: customerservices@ifslearning.ac.uk
W: www.ifslearning.ac.uk

About the International Chamber of Commerce

The International Chamber of Commerce is the largest representative business organisation in the world.
The ICC has hundreds of thousands of member companies across more than 130 countries covering
interests spanning across every sector of private enterprise. The ICC Banking Commission is the largest
commission within the ICC and is a leading ruling body for the banking industry globally, gaining a
reputation for being the most authoritative voice in the field of trade finance.

International Chamber of Commerce

33 – 43 avenue du Président Wilson
75116 Paris
France
T: +33 (0) 1 49 53 28 28
E: icc@iccwbo.org
W: www.iccwbo.org

ifs University College is a registered charity , incorporated by Roy al Charter.

The International Chamber of Commerce (ICC) is the largest, most representativ e business organization in the world.