Certified Corporate Trust Specialist (CCTS) Practice Exam - RETIRED
Certified Corporate Trust Specialist (CCTS) Practice Exam
The Certified Corporate Trust Specialist (CCTS) certification is the undisputed professional credential for financial services professionals whose primary function and expertise focus on the provision of corporate trust services.
The CCTS designation signifies that an individual working in this field has attained comprehensive training in the following professional knowledge areas: Laws & Regulations, Accepted Policies & Procedures, and Market Environment.
Course Outline
Candidates must pass an examination that covers the knowledge areas below:
1. Laws and Regulations (30% of the exam)
- Acts and Laws
- Regulatory and Legislative Bodies
2. Accepted Policies and Procedures (35% of the exam)
- Audit, Compliance and Risk Management
- Account Acceptance
- Securities Issuance
- Account Administration
- Securities
- Payment and Redemption
- Revenue and Expense
3. Market Environment (35% of the exam)
- Credit Markets and Issuance of Securities
- Financing Transaction Participants
Exam Requirements
The qualifying exam consists of 200 multiple-choice questions; four hours is provided in which to complete the exam. Candidates may retake the exam if they do not pass; the exam re-take fee is $150. Candidates have the option of taking the exam in one of two formats:
- A proctored exam at the candidate’s company, with an ICB-certified member serving as exam proctor
- At an exam site that is within 2 hours driving time from the candidate's company
Additional Skills
- Candidates must meet the experience, education, ethics and examination requirements determined to be competency measures for bank tellers:
- Professional Experience & Education: must meet one requirement
- Currently employed in the corporate trust industry and have a minimum of three (3) years experience in corporate trust as well as 90 hours of ICB approved corporate trust training
- Currently employed in the corporate trust industry and have a minimum of five (5) years experience in corporate trust as well as 60 hours of ICB approved corporate trust training
- Currently employed in the corporate trust industry and have a minimum of eight (8) years experience in corporate trust as well as 30 hours of ICB approved corporate trust training
- Professional Reference - One letter of recommendation from your manager attesting to your qualifications for certification including your corporate trust experience
- Ethics Statement - Each candidate must sign ICB's Professional Code of Ethics statement, which is the last page of the application.
- Application – Candidates must complete and submit an application, affirming that they comply with the eligibility requirements at the time of submission; application fee is $395, covers exam as well
Education Requirements
- Each candidate applying for the certificate must complete thirty (30) credits of continuing education every three (3) years; fifty (50) minutes of instruction equals one (1) credit. Certificants are allowed to carry over up to ten (10) credits per three-year cycle.
- An annual membership fee of $199 also is required to keep certification active.
