Prepare for a brighter future by earning the Credit Essentials Certificate.
What is the Credit Essentials Certificate?
This exam assesses undergraduate students' knowledge and skills on a variety of commercial banking topics including cash flow and financial statement analysis, structuring commercial loans, personal financial statement analysis, business tax return analysis, and industry and market analysis. Demonstrating comprehension of these skills by passing an independent assessment such as this distinguishes students from other candidates when seeking employment opportunities.
Who is it for?
RMA student members who are enrolled in an undergraduate program at a university.
About the exam
The online exam takes approximately one hour and 45 minutes to two hours and 15 minutes to complete. A score of 80% or greater is required to pass. Upon passing, students will receive a Certificate of Competency.
What is covered in the exam?
- Getting to know the customer
- Analyzing nonfinancial techniques
- Understanding the numbers: financial statements
- Understanding the numbers: cash flow
- Understanding cash flow: projections
- Understanding the numbers: management and strategy
- Loan structuring
- Collateral and third-party support
- Retail credit
- Personal financial statements and tax returns
- Business tax returns
- Global cash flow
- Loan documentation
What free resources are available?
- Commercial Credit Essentials: As part of the registration fee, you will receive this free study guide as a PDF. This guide will examine credit risk analysis approaches used by commercial banks to evaluate loan applications.
- The RMA Body of Knowledge contained within RMA University
- The RMA Fundamentals Exam contained within RMA University
- RMA University Online Courses:
- The Lending Decision Process
- Structuring Commercial Lending
- Commercial Loan Documentation
- The Small Business Lending Decision Process
Note: These resources are meant to refresh your awareness of the subject matter and complement what you have learned during your formal education.
What kind of feedback will test-takers receive?
For every question missed, an individual test-taker will receive the performance task that served as the basis of the question.
When do I get my exam result?
You will know your result immediately upon completion of the exam. The results become official upon your receipt of the Certificate, which will be sent by RMA via mail promptly after you have passed the exam.
How much does it cost?
The exam costs $99. You have two chances to pass the exam. You can retake the exam one time. If you do not pass on the second try, you must wait at least 45 days before taking it again. This is intended to give you time to review not only the resources RMA has provided, but more importantly, to review prior course work that you have taken and perhaps receive coaching.