(CITFS) Requirements

Certified International Trade Finance Specialist® – Knowledge Requirements:

The following topics are defined as within this body of knowledge and are reflected in the knowledge assessment requirements stated for this certification. A person holding this certification will have satisfactorily passed an examination that demonstrates a high degree of knowledge of these topics and knowledge requirements.

Industry Standard: (1) Demonstrate basic knowledge and usage of international trade principles, concepts and processes. (2) Demonstrate in-depth knowledge in the specialty area of international finance.

Specialized International Finance Topics Knowledge Demonstrated
Global Finance and its Environment Analyze the relationship of the finance professional and the other parties involved in international trade. Understand the international monetary system.
Management of Global Investment and Operations To know foreign direct investment (FDI) concerns’ impact on international trade. To understand the decisions behind long-term capital budgeting in the global marketplace. To be able to analyze the intricacies of conducting business in foreign operations from the perspective of a finance specialist. To know the major financial documentation requirements commonly used when conducting international trade.
Global Banks and Financial Markets To be able to define the role banks serve in the international marketplace. To know the operational issues global banks must resolve in order to complete a transaction. To know the various international financial markets To be able to assess the major financing alternatives open to companies conducting international trade.
Global Finance Risk Factors and Risk Management To know the risk factors surrounding the financing of international trade. To be able to explain the implications of international currency exchange rates and their impact on international business transactions. To be able to perform the analysis of the various methods of risk management in global trade, such as hedging techniques to choose an appropriate alternative.
Short-Term Capital Management Issues To be able to quantifiably analyze all forms of payment used in international trade. To be able to examine the different payment methods used in international business, including the advantages and disadvantages of each method. To understand the implications of global accounting procedures. To know the diversity in global accounting procedures and their roots. To be able to summarize the significant influences of taxation on foreign operations.
Contemporary Issues in Global Finance To be able to analyze the current impact of e-commerce on the traditional financing alternatives and new tools used. To be able to discuss the future direction of global finance and its impact on the global marketplace. To know the impact of FTA and EU regulations on financing global transactions within those trading blocs.

 

Topic Knowledge Demonstrated
International Trade Terminology To understand the terminology and usage of terminology used in the import/export of goods and services, including Incoterms® 2010
International Trade Documentation To demonstrate an understanding of the documents used in import/export and their usage. To understand the documentation needs of general goods being imported or exported.
Expansion of the firm to international markets To know how to determine if a firm should expand their effort to include import/export markets.
Analysis of product import/export potential To be capable of analyzing the import/export potential of a product or service.
International Market Research To understand the mechanics of primary market research: to be able to build a market survey instrument for import/export use. To know how to use secondary market research to make import/export decisions.
Establishing pricing for international markets To possess a basic knowledge of the principles of setting a product’s price in a foreign market.
International Finance Tools Be capable of using the various financial tools, including letters of credit and other forms of payment and credit terms, used in international trade.
International Distribution Be able to assess and utilize all elements of the international distribution environment as needed to facilitate international trade.
International Business Resources Possess basic knowledge about the various organizations and other sources available to assist individuals and organizations in their efforts to import/export goods and services.