How to Earn the aba.com/icb 1-800-BANKERS Speakers Suzanne Sjoselius, CFMP CFMP Chair Director of Risk Management & Marketing Northeast Bank Mark DeBaugh Senior Director ABA Institute of Certified Bankers aba.com/icb 1-800-BANKERS What is certification? aba.com/icb 1-800-BANKERS • Voluntary process • Evaluates knowledge and skills • Promotes standards • Advances careers • Recognizes individual achievement About the CFMP • Comprehensive certification designed for bank marketing professionals • Advisory board comprised of senior industry practitioners who create the exam • Administered by the Institute of Certified Bankers, a subsidiary of the American Bankers Association aba.com/icb 1-800-BANKERS What’s in it for me? aba.com/icb • Recognition • Validation of knowledge • Professional Development • Networking • Free Subscription to ABA Bank Marketing & Sales magazine 1-800-BANKERS How do I obtain the CFMP credential? aba.com/icb • Experience • Education • Recommendation • Ethics • Examination 1-800-BANKERS Fee, Recommendation & Code of Ethics • Exam Fees Exam Location MN Fee NM Fee School/Conference $325 $495 PSI Testing Center $400 $575 MN = Marketing Network Member NM = Non-Marketing Network Member Exam Retake Fee $175 (School/Conference) $250 (PSI Testing Center) aba.com/icb 1-800-BANKERS • One letter of recommendation attesting to your qualifications • Sign ICB’s code of ethics – a standard for ethical business conduct Experience and education requirement • 2 years of financial services marketing experience and completion of one of the following: • ABA School of Bank Marketing & Management • AIB Bank Marketing Diploma • ICB-Approved Graduate School of Banking (e.g. Stonier) • MBA or other advanced degree in marketing OR • 5 years of financial services marketing experience and a bachelor’s degree aba.com/icb 1-800-BANKERS What’s on the exam? 3-hour exam consisting of 150 multiple choice questions covering the following areas: 1. Financial Principles (15%) 2. U.S. Laws & Regulations (15%) 3. Market Research (15%) 4. Characteristics of Marketing Plans (25%) 5. Marketing Components (30%) aba.com/icb 1-800-BANKERS Are there any study resources available? Resource ABA Member Price Non-ABA Member Price CFMP Exam Outline (www.aba.com/Training/ICB/Pages/CFMP) N/A N/A ABA’s Financial Services Marketing textbook $75 $119 aba.com/icb 1-800-BANKERS How should I prepare for the exam? • Form a study group • Set a study schedule based on the exam outline • Allot more time for areas that require more concentration • Have someone hold you accountable (study buddy, co-worker, spouse, best friend, etc.) • Test yourself: note cards, practice questions aba.com/icb 1-800-BANKERS How a Passing Score is Determined • Board weights each question based on level of difficulty • Questions with “more compelling” wrong answer options are rated as more difficult • Passing score is determined by averaging the weighting of all of the exam questions* *2013 average pass/fail cut-off score: 67% aba.com/icb 1-800-BANKERS How is the exam scored? • ICB Psychometrician (exam consultant) provides board with score results and statistical analysis • Board reviews analysis along with comments • Passing score determined • Pass/Fail status emailed to candidate within 30 days • Detailed score report mailed to the candidate aba.com/icb 1-800-BANKERS Sample Score Report Score Report for: Jane Watson Total Score: 80% Pass-Fail Cutoff Score: 67% Pass-Fail Outcome: PASS Knowledge Area Subscores Number Correct Number Scored Financial Principles 17 23 U.S. Laws & Regulations 16 22 Market Research 16 22 Characteristics of Marketing Plans 32 38 Marketing Components 39 45 120 150* Total *The board may omit some questions from scoring after a review of the test results which includes a statistical analysis by ICB exam consultants. aba.com/icb 1-800-BANKERS How do I maintain the credential? • 35 continuing education (CE) CE credits every three years (50 minutes = 1 credit) • ABA Bank Marketing & Sales magazine provides 30 credits (10 issues = 10 credits per year x 3 years) through CE quizzes (Free to CFMPs) • Remaining 5 credits can be earned by attending conferences, seminars, webinars, online training etc. • Payment of annual renewal fee - $199 ($99 for ABA Marketing Network members) aba.com/icb 1-800-BANKERS Apply for the CFMP Exam Today! Application Due Date Withdrawal Deadline Exam Fee Thu, 5/15/14 $325 (MN) $495 (NM) Mon, 4/28/14 Mon,5/5/14 $400 (MN) $575 (NM Wed, 7/9/14 Wed, 7/16/14 $325 (MN) $495 (NM) Mon, 7/21/14 Mon, 7/28/14 $400 (MN) $575 (NM) Exam Date Exam Site Wed, 6/25/14 ABA School of Bank Marketing and Management Thu, 5/8/14 Atlanta, GA Fri, 6/27/14 to PSI Testing Center Sat, 7/5/14 Sun, 9/7/14 ABA Marketing Conference Orlando, FL Fri, 9/19/14 to PSI Testing Center Sat, 9/27/14 MN = Marketing Network NM = Non-Member aba.com/icb 1-800-BANKERS PSI Testing Center Exam Scheduling an exam at a PSI Testing Center provides you with the flexibility of selecting any exam time within the identified date range at a PSI Testing Center of your choosing. CFMP exams offered at PSI Testing Centers are computer-based. Exams offered at the school and conference are paper and pencil. aba.com/icb 1-800-BANKERS Questions & Answers aba.com/icb 1-800-BANKERS ICB Staff Contacts Exam-Specific Questions Sandra Williams Director, Examinations (202) 663-5066 [email protected] Exam Scheduling and Logistics Eureka Cole Manager, Examinations (202) 663-5380 [email protected] aba.com/icb 1-800-BANKERS
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