Credit Scoring and Benchmarking

Overview

Credit Scoring and Benchmarking delves into the methodology used to calculate credit scores, and how scoring and credit reporting is used to assess an individual’s creditworthiness.

Credit scoring was invented in the US back in the 1950s as a way to impartially assess a borrower’s creditworthiness. Since then, the methodology used to calculate credit scores has evolved significantly, leading to the creation of a specialist industry, country-specific scoring systems and an increased interest in credit scores by the general public.

We also examine the legislative framework that governs the use of personal financial data and the recourse avenues available to individuals in relation to their data.

A credit score is unlikely to be the only reference point used by a lender to assess a borrower’s suitability. Typically, institutions will use a score as a starting point to gauge the level of due diligence required to conduct an assessment.

Program Content

Learning Outcomes

What you will learn

  • What is credit reporting and how is it regulated?
  • How are credit scores calculated and how do they categorise borrowers?
  • What recourse do consumers have with respect to querying items on their credit report?
  • How does the use of credit scoring align with responsible lending obligations?
  • What is the difference between CDR and CCR?

Who is this course for?

Units of Competency

Pre-requisite

Recognition of Prior Learning

Certification

You will be awarded a Certificate of Completion. It will be available online for you to download and print immediately.

Explore our CPD Short Courses

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Frequently Asked Questions

You can enrol your team, either
  • Online. Find the right course and make an online purchase or
  • Talk with us to develop your team training program.
Our courses, CPD and qualifications are 100% online, so you can start anytime, anywhere.
Our CPD short courses are assessed by a short open book multiple-choice exam.
Our CPD short courses are self-paced with online learning resources & on-going support.
  • You have up to 8 weeks to complete the learning and assessment requirements for your CPD short course.
  • Experienced professionals can complete in less time.
What is FEPs Mortgage and Credit CPD program?2021-12-17T10:41:43+11:00

Our Credit and Mortgage Broking CPD (RG206) is an essential annual update for credit licencees. It covers everything you need to know in one convenient online course.  Each program earning 20 CPD points.

Our programs are packed full of essential regulatory updates and practical tips for achieving the best outcomes for your clients, efficiently and compliantly.

What others say about us

Parallels real workplace experience.

We have been using FEP for a number of years now. The course materials are highly professional and parallels real workplace experience. Staff greatly value participating in meaningful external training and are the greatest advocates.

Efficient, informative and accessible.

The content is well set out, clear and precise. My organisation does the course every year and we are continuing to learn new and interesting things with each new offering. The content is up to date with the industry and completely relevant to my role. I had all the support and learning resources available to get it done…

Extremely relevant and meaningful.

Our firm exclusively uses the services of Financial Education Professionals for all of our ongoing RG146, compliance and responsible manager training for our team. We find course materials extremely relevant and meaningful and this allows our team to have up to date, practical knowledge.

Peter McGuire, CEO, XM