Credit Scoring and Benchmarking

What is Credit Scoring and Benchmarking?

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


Recognition of Prior Learning


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

Explore our Financial Services CPD

Our short course topics are also included in our annual subscription Financial Services CPD library.

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Frequently Asked Questions

You can enrol your team either:
  • Easily enrol online (you can add multiple participants to your cart) or
  • Contact us to arrange a quote.
Our courses, CPD and qualifications are 100% online, so you can start anytime, anywhere.
  • Either enrol online or
  • Contact Us to arrange an invoice for EFT or AMEX payments.
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 RG206?2023-04-21T07:53:53+10:00

Regulatory Guide 206 Credit licensing: Competence and training (RG 206)

Credit licensees must comply with the organisational competence obligation in s47(1)(f) of the National Consumer Credit protection Act 2009 (National Credit Act)Regulatory Guide 206 Credit licensing: Competence and training (RG 206) sets out the minimum expectations for demonstrating organisational competence.

What you need to do to comply will depend on the nature, scale and complexity of your business. However, Regulatory Guide 206 Credit licensing: Competence and training (RG 206) sets out our minimum expectations for demonstrating organisational competence.

You must also ensure that your representatives are adequately trained and competent to engage in the credit activities authorised by your licence: s47(1)(g).

ASIC generally expects you to determine what is appropriate initial and ongoing training for your representatives and to embed this in your recruitment and training systems.

Updated annually, our CPD is designed to enable Responsible Managers and Representatives of Australian Credit Licensees to meet their mandatory RG206 continuing training requirement. Our CPD that is structured, properly assessed and recorded.