Compiled by: Md.

Sazzadul Alam Niazi ACS

Level 4 Certificate for Documentary Credit Specialists

(CDCS®) – 601/1159/8

Student Handbook – Important

information about your course

(September 2016)

The London Institute of Banking & Finance is a registered charity, incorporated by Royal Charter.

The International Chamber of Commerce (ICC) is the largest, most representative business organization in the world.
 Compiled by: Md. Sazzadul Alam Niazi ACS

Contents

Page

Foreword 4

1. Introduction 5
2. Your course in brief 5

Delivery 5

Learning time 5

Learning resources 6

Assessment 7

Examination results 8
®
CDCS – paper-based multiple-choice examination 9

Check-in process 9

Late arrivals 9
Temporary absence 9

Departures 9

Conduct in the examination room 10

Deferrals 11

Resits 11

Contact details 11
3. How to succeed in your course 11

Learning outcomes and assessment criteria 11

Study materials and resources 12

®
CDCS course site 12

Student-led forum 12

Study skills 13
Assessment-related study skills 13

4. What will you receive on successful completion? 13

Qualification, status and designation letters 13
Certificates 13

Broadening your knowledge 14

5. Any queries? 14

Policy documents 15

Frequently asked questions 15

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TABLES
®
Table 1 Skills demonstrated by CDCS completers 6
Table 2 Grading 8

Table 3 Useful contacts 14

FIGURES
Figure 1 Assessment structure 7

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Foreword

The London Institute of Banking & Finance is a not-for-profit professional body and registered charity
incorporated by Royal Charter and is the only specialist provider of professional financial education
that is able to award its own taught degrees. It has a remit to provide the financial services industry
with a skilled and competent workforce while also promoting a better understanding of finance
amongst consumers.

All of The London Institute of Banking & Finance’s qualifications content and learning experience is
directly informed by the needs of those they exist to educate. They bridge the academic and
vocational divide to provide students with essential practical skills and the conceptual and analytical
abilities of academic study.

It is this unique and innovative approach that makes The London Institute of Banking & Finance the
provider of choice for organisations and individuals seeking to improve knowledge, skills and career
prospects in the area of finance and financial services

We wish you every success with your studies.

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1. Introduction
®
Thank you for choosing to study the Certificate for Documentary Credit Specialists (CDCS )
qualification.

®
CDCS is an international professional qualification that is recognised worldwide as a benchmark of
competence in documentary credits. It enables documentary credit practitioners to demonstrate
practical knowledge and understanding of the complex issues associated with documentary credit
practice. The qualification is delivered under our Terms and Conditions.

®
CDCS has been developed in consultation with industry experts to ensure that the qualification
reflects best practice. It has been created and will be managed by The London Institute of Banking &
Finance in partnership with the International Chamber of Commerce (ICC).

We wish you every success with your studies.

2. Your course in brief

Delivery
®
The CDCS qualification is delivered via distance learning. This means that you study on your own,
either at home or wherever suits you – reading the printed core study text, and doing activities,
including self-testing and interacting with other students through the student-led forum.

Learning time
®
CDCS is made up of one mandatory unit, Unit 1 – Principles and Practices of Documentary Credit
Transactions (PDT). It is expected that the ‘average’ learner will take around 300 hours to complete
the qualification.

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®
Table 1 Skills demonstrated by CDCS completers

DESCRIPTION
SUMMARY • Achievement at Level 4 reflects the ability to identify and use
relevant understanding, methods and skills to address
problems that are well defined but complex and non-routine. It
includes taking responsibility for overall courses of action as
well as exercising autonomy and judgement within fairly broad
parameters. It also reflects understanding of different
perspectives or approaches within an area of study or work.

KNOWLEDGE AND • Use practical, theoretical or technical understanding to address

UNDERSTANDING
problems that are well defined but complex and non-routine.

• Analyse, interpret and evaluate relevant information and ideas.

• Be aware of the nature and approximate scope of the area of

study or work.

• Have an informed awareness of different perspectives or

approaches within the area of study or work.

APPLICATION AND ACTION • Address problems that are complex and non-routine while
normally fairly well defined.

• Identify, adapt and use appropriate investigation to inform

actions.

• Initiate and use appropriate investigation to inform actions.

• Review the effectiveness and appropriateness of methods,

actions and results.

AUTONOMY AND • Take responsibility for courses of action, including where

ACCOUNTABILITY
relevant, responsibility for the work of others.

• Exercise autonomy and judgement within broad but generally

well-defined parameters.

Learning resources

You will be supported by a printed core study materials and online course site. The course site
contains the following support materials:

• online study materials;

• specimen paper;

• self testing e-quiz;

• student handbook; and,

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• online student-led forum.

Assessment

The Principles and Practices of Documentary Credit Transactions (PDT) unit is assessed by a three-
hour 100-mark examination paper held on a fixed day.

The assessment has been designed to test knowledge, understanding and application from across
the syllabus and consists of two sections (see Figure 1).

Figure 1 Assessment structure

Unit 1

Principles and Practices of Documentary Credit

Transactions (PDT)

Section A Section B

Section B is assessed by:

• 10 stand-alone multiple-
choice questions, with 1
mark available for each
correct answer.

Section A is assessed by 60 • 3 in-basket case studies.

stand-alone multiple-choice Each case study comprises
questions, with 1 mark available 5 multiple-choice questions
for each correct answer. linked to a set of
documents, with 1 mark
available for each correct
answer.

• 3 simulations (document-
checking exercises).
Candidates must identify 5
discrepancies from a
choice of 10. Each
discrepancy correctly
identified is worth 1 mark.

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A total of 100 marks are available.

The qualification will be graded pass / distinction (see Table 2).

Table 2 Grading

Grade Percentage mark

Pass 70–94 %

Distinction 95–100 %

To achieve an overall pass, students must achieve a mark of 70% overall (and 60% for Section B).

There is no section pass mark for Section A. Credit cannot be claimed for gaining 60% in Section B
but failing to gain 70% overall, only overall achievement is graded.

The London Institute of Banking & Finance would like to confirm that it does not negatively mark. For
example:

If a student answers 1,2,3,4,5 for a simulation and the correct answer is 1,2,3,6,7 they will be
awarded 3 marks for the 3 options that they correctly selected.

The London Institute of Banking & Finance is unable to decide which options go forward towards the
overall mark if a student selects more than the number of answers required:

• Selecting more than 5 answers, out of the 10 available, for a simulation could give a student
an unfair advantage over those who stick to the rules and only provided 5 answers.
• Selecting more than 1, of the 4 available answers, for multiple-choice questions and in-
basket questions could also give the students an unfair advantage.

Therefore, providing more answers than the number required will result in The London Institute of
Banking & Finance automatically awarding a 0 (zero) for that simulation / question.

Please note: The pass mark / grade bands are reviewed each examination session to ensure
fairness to students in cases where examination difficulty varies. Adjustments may be made
accordingly.

Examination results

Your examination results will be issued six weeks after your examination.

Results will be available online at www.mylibf.com. Results will not be given by telephone, fax or
email.

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CDCS® – paper-based multiple-choice examination

Check-in process

You should arrive at the examination centre at least 15 minutes before the scheduled start time of the
examination.

You must produce your attendance notice, which will detail the date, time and venue of your
examination, and one of the following forms of government-issued identification:

• passport;
• full or provisional photo driving licence; or,
• national identity card.

The document must:

• be current / valid / unexpired;
• bear your signature; and,
• bear your photograph.

Late arrivals

You will be allowed into the examination room during the first 30 minutes after the start of the
examination. Entry after this time will be at the invigilator's discretion. You must not disturb any other
students when taking your seat. Extra time during the examination will not be allowed, except when
prearranged under the Reasonable Adjustments Policy and Procedures (see Section 5).

Temporary absence

In cases of emergency, you will be allowed to leave the examination room and return. During
temporary absence you will be supervised.

You may not have contact with anyone other than the person accompanying you.

You may not take any material from the examination room or have access to any material during your
absence.

Departures

To avoid disturbance, you will only be allowed to leave the examination room within 30 minutes of the
start or 15 minutes from the end of the examination.

If you wish to leave before the end of the examination, you must raise your hand in silence and wait
for the invigilator to collect your answer sheet, question paper and supporting documentation.

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Conduct in the examination room

You must not enter the examination room until instructed to do so.

Your name and candidate number should already be written on the answer sheet, exactly as it
appears on your attendance letter. If you are completing a blank answer sheet, please enter just the
first 10 letters of your name.

You will be instructed when to begin the examination and when to stop. To allow you time to revise
your answers, the invigilator will warn you when 15 minutes of the examination remain. Please note
that answers must be recorded only on the optical mark reader (OMR) sheet – this is the answer
sheet. Any answers recorded on the examination paper itself will not be considered.

During the examination, you must remain in your seat until you are told that you may leave.
If, for exceptional reasons, you wish to speak to the invigilator during the examination, you must raise
your hand in silence and wait for the invigilator to come to you.

Eating and / or drinking (except water) during the examination is not allowed – except where
medically appropriate and agreed by The London Institute of Banking & Finance in advance under
the Reasonable Adjustments Policy and Procedures, for example because of pregnancy or diabetes
(see Section 5).

Smoking is not allowed. All mobile phones must be switched off and placed in the invigilator’s care
before the assessment commences. All programmable watches must be switched off and placed in
the invigilator’s care.

The use of programmable calculators is prohibited. You may use basic, silent, non-programmable
desktop calculators. You may not bring any printed materials, including dictionaries, into the
examination room.

You must not communicate with other students during the examination. If you try to do so, the
invigilator will issue a formal caution and a report will be submitted to The London Institute of Banking
& Finance, which may lead to your examination results being considered invalid. The invigilator has
the right to expel candidates from the examination room, if their behaviour is interfering with the
proper conduct of the examination.

All work must be your own. Any incident where it is felt that work may not be your own will be
considered to be a breach of The London Institute of Banking & Finance policies and procedures, and
dealt with accordingly. Please refer to the Malpractice Policy and Procedures (see Section 5).

At the end of the examination you must seal all documentation except the answer sheet inside the
plastic bag provided with your pack and hand the bag and answer sheet to the invigilator.

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Deferrals
®
It is possible to defer your CDCS examination to the next session free of charge up to the registration
deadline. Candidates may defer once only free of charge. Subsequent deferrals will incur a deferral
fee. After the deadline you have 3 weeks in which to defer but a fee is applicable, see the additional
fees document for clarification of the fee payable. If you are unable to attend the examination due to
circumstances beyond your control such as bereavement or personal illness, your deferral request will
need to be supported by independent documentary evidence through the special considerations
process.

Cases that will not be considered are those such as holidays, house or job move, or lack of
preparation.

Resits

If you do not pass the assessment and wish to book another attempt for the next year, you must
contact the Student & Customer Services team (see Section 5) to book a resit.

Contact details

It is important that the details we have recorded are correct, as they will be used as the basis for a
number of activities, including generating certificates. If you need to make any amendments to your
contact details or registration details, please contact the Student & Customer Services team (see
Section 5).

3. How to succeed in your course

Learning outcomes and assessment criteria

The examination questions will be designed to test your knowledge and understanding, and your
ability to apply that knowledge and understanding, across the learning outcomes and assessment
criteria. You should plan your studies to cover all the areas sufficiently.

Unit 1 – Principles and Practices of Documentary Credit Transactions (PDT)

learning outcomes and assessment criteria

PDT is designed to enable documentary credit specialists to understand documentary credits, and the
products, parties, processes and rules that underpin documentary credit transactions.

The learning outcomes and assessment criteria that form the basis of your study for the PDT unit can
be found in the specification on the course site. In overview, Section A of the examination paper

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concentrates on knowledge and understanding, and Section B concentrates on the application of

knowledge and understanding.

Study materials and resources

The London Institute of Banking & Finance has produced study materials specifically to help you in
®
your studies for the CDCS qualification. The core study materials will be sent to you in hard-copy
format when you register, and you will have online access to other learning materials via the course
site. If you have not received your study materials within four weeks of registering, please contact the
Student & Customer Services team (see Section 5).

Study materials are designed by The London Institute of Banking & Finance to support you in your
studies and cover the requirements set out in the syllabus for the unit that you are studying. All
examination and specimen questions are based on, and referenced to, the content of the syllabus and
the learning outcomes.

Please note that all course study materials and examination papers are written in British Standard
English.

It is therefore very important that you fully familiarise yourself with the content of the syllabus for the
PDT unit, both at the outset of your preparation and as a reference point as you progress towards
attempting an examination.

CDCS® course site

®
The CDCS course site contains all the study resources that you will need to help you study for your
®
CDCS unit. It provides online access to:

®
i. the CDCS specification;

ii. the study materials;

iii. a specimen examination paper, which reflects the layout and style of the actual examination and
provides answers.

iv. student handbook; and,

v. online student-led forum,

Student-led forum
®
You will have access to a student-led forum for the CDCS unit. The forum will give you an
®
opportunity to share your ideas and compare notes and experience with other CDCS students. You
®
can access the student-led forum through the CDCS course website.

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Posting a new topic or replying to a message already on the forum is straightforward. Look for the
‘add a new discussion topic’ box or ‘reply’ icon, enter your message and select ‘post to forum’
when you are ready. When you post a message, it is best to be as specific as possible with your
questions, detailing the topic reference and page(s).

Please note, this forum is to enable student discussion and is not moderated by The London Institute
of Banking & Finance. If you have a specific question about your course, please contact the Student &
Customer Services team (see Section 5).

Study skills

You will need to plan your study time carefully to ensure that you allow sufficient time to cover the
content of the syllabus through reading the core study text and the study guide. The London Institute
of Banking & Finance has provided support through the Learning Support and Assessment Guidance
Student Handbook.

Assessment-related skills

The assessment will be through a multiple-choice examination. The London Institute of Banking &
Finance has provided guidance to prepare you for this style of assessment through the Learning
Support and Assessment Guidance Student Handbook.

4. What will you receive on successful completion?

Qualification, status and designation letters

On successful completion, you will attain the qualification Certificate for Documentary Credit
®
Specialists (CDCS ), which shows that you have been able to:

i. demonstrate a level of expertise in documentary credits that is recognised worldwide;

ii. show knowledge and understanding of the complex issues associated with documentary
credit best practice;

i. develop the skills to apply your knowledge in the workplace and to perform at a high level;

®
ii. add the professional designation ‘CDCS ’ after your name; and

iii. improve your career and promotion prospects.

®
You can then use the designation ‘CDCS ’ after your name for a period of three years.

Certificates

You will be sent a certificate within 30 working days of successfully completing the qualification (ie the
date from when your examination results are posted on www.mylibf.com).

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Broadening your knowledge

®
When you have successfully completed the CDCS qualification, there are two study pathways
available to you within The London Institute of Banking & Finance international trade qualifications.
®
One option is to study the Certificate for Specialists in Demand Guarantees (CSDG ). CSDG is a
specialist qualification for professionals that use demand guarantees in their everyday work. The
certificate provides the key knowledge and skills needed to operate effectively in a highly technical
area of international trade.

®
The second qualification available is the Certificate in International Trade and Finance (CITF ),
designed to enable trade, export and commodity executives to gain a thorough understanding of key
®
procedures, practices and legislation in trade finance on an international level. CITF has been
designed to be an introductory course.

5. Any queries?

If you have a query that you cannot resolve by reading the Student Handbook, or if you are unsure
whom to contact, please start with the Student & Customer Services team (see Table 3).

Table 3 Useful contacts

NATURE OF THE ENQUIRY CONTACT DETAILS

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NATURE OF THE ENQUIRY CONTACT DETAILS

Student & Customer Services team

Questions relating to:
T: +44 (0) 1227 818609 (option 1)
• all general queries, for example registration,
fees F: +44 (0) 1227 784331

• delivery of learning materials E: csdg@libf.ac.uk

• accessing myLIBF W: www.CDCSinternational.org.

• change of contact details

• deferring your studies Postal address

®
• withdrawing from CDCS Please address your letter to:

The London Institute of Banking &

Finance
4–9 Burgate Lane
Canterbury
Kent CT1 2XJ
United Kingdom

Policy documents

The London Institute of Banking & Finance has created policies to ensure consistent service for
students. These include:

• Appeals policy and procedures

• Assessment Result Enquiry policy and procedures

• Complaints policy and procedures

• Malpractice policy and procedures

• Reasonable Adjustments policy and procedures

• Special Considerations policy and procedures

• Student Charter

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All policies can be found on The London Institute of Banking & Finance website:
http://www.libf.ac.uk/about-us/policies-regulations-and-code-of-practice

Frequently asked questions

I have a disability that may affect the assessment – what should I do?

The Reasonable Adjustments policy explains how we ensure students with disabilities are not unfairly
disadvantaged. Please contact the Student & Customer Services team, who can advise you on the
application criteria and process.

How do I provide feedback to The London Institute of Banking & Finance or make a complaint?

We welcome all student feedback as we aim to continuously review and improve all our courses.
Please contact the Student & Customer Services team with any comments. If you have a complaint,
please see our Complaints policy. If you have a problem with any aspect of your course, please
contact the Student & Customer Services team as soon as possible so that we may assist you
promptly.

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Certificate for Documentary Credit Specialists

(CDCS®) - 601/1159/8

About The London Institute of Banking & Finance

The London Institute of Banking & Finance 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.
The London Institute of Banking & Finance

4–9 Burgate Lane

Canterbury

Kent CT1 2XJ

T: +44 (0) 1227 818609 (option 1)

E: customerservices@libf.ac.uk

W: www.CDCSinternational.org

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 +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

The London Institute of Banking & Finance is a registered charity, incorporated by Royal Charter.

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