Products & Services
DTCC Learning - Specialist Certification
Frequently Asked Questions (FAQs) on the DTCC Learning Specialist Certification Program
What is the DTCC Learning Certified Specialist Program in Asset Services?
Achieving a DTCC Learning certification signifies attainment of a professional level of competence as a user of the products and services offered by DTCC's subsidiaries. To obtain Asset Services certification, applicants must pass a challenging 84-question exam that tests their familiarity with the following areas of securities processing: Custody, Deposits, and Withdrawals, as well as the corporate action services of Dividends and Reorganization.
Candidates passing the test will receive a certificate of achievement, and employers will be notified of their certified status. Certification will remain valid for two years, and can be retained via retesting.
What are the requirements and prerequisites for taking the certification exam?
The exam targets customers of DTCC's depository subsidiary, The Depository Trust Company (DTC), with a minimum of three years' background in at least two areas of Asset Services processing, and similar experience using DTC corporate actions products and systems. They can prepare for the exam by tapping the various training products produced by DTCC Learning, including a comprehensive e-learning curriculum and instructor-led training. Candidates with less than three years' experience are required to complete the Asset Services e-learning curriculum before they can be considered eligible to sit for the exam.
How was the exam developed?
DTCC Learning developed the test in conjunction with Thomson Prometric, a global leader in technology-enabled assessment services. While Thomson provided the testing know-how, DTCC personnel developed the content for the exam, ensuring that the questions reflect real-world industry experience.How will the exam be administered?
The exam will be administered online via the Internet in a proctored environment. It will be offered to customers nationwide who have met all test condition requirements, including proctor validation and system testing prior to the test date. DTCC Learning will also operate test centers at its facilities in New York City and Tampa.What is the cost of the exam?
The exam costs $300 per person for first-time takers, $125 per person for subsequent retesting.How many questions are on the exam and what is the passing score?
There are 84 questions on the exam and the passing score is 567 out of 800.How is the billing processed?
Billing is processed through the DTC Settlement system.
For groups interested in taking the exam, are there discounts available?
There are no discounts available for the exam, however discounts can be obtained if a group registers for numerous courses simultaneously. Please call the training administrator at 888-258-6393 for details.
What are the registration requirements?
To register, candidates and a sponsoring officer at the candidate's company must complete and return a hardcopy application form. The candidate must provide information about his or her background, while the sponsoring officer will attest to the candidate's employment status.
You can obtain registration materials and complete information about certification by:
- Visiting DTCC Learning
- Sending an e-mail to training_administrator@dtcc.com
- Calling DTCC Learning at 888.258.6393.
What is DTCC Learning and why was it created?
DTCC Learning is a service of DTCC that consolidates the company's external training programs and products, including e-learning, instructor-led training, and documentation. At a time when DTCC is re-engineering long-standing systems and processes, DTCC Learning strengthens the company's connection to customers by providing a comprehensive and consolidated approach to training. This approach also addresses participants' desire - as expressed in customer surveys - for centralized information about training options.
The program also dovetails with the financial industry's drive for the standardization of credentials among its employees. DTCC Learning teaches and tests best practices. If an employee is certified, an employer can be confident that he or she fully understands the processes and procedures that DTCC has determined are most effective in using its systems and services.
What is certification?
Certification is a voluntary credentialing process managed by members of a profession. It establishes a standard of skill and knowledge, and formally recognizes those who meet the standard. Certification differs from licensing, which is a government-controlled process serving as a requirement for functioning in a profession.
What is the value of certification to a DTCC participant?
The DTCC certification program gives customers a tool to document, measure, and track the DTCC-related skills of their employees. The program can also strengthen continuity planning by providing a map of where DTCC skills reside, assisting firms in managing institutional memory. Skilled employees can move more easily among functional areas and make future contributions to processing efficiencies.
DTCC provides the same high level of service to all participants using its products and services. Nevertheless, for certified individuals, DTCC Learning will assume a more prominent and proactive role in their ongoing training and job growth, at least as regards to making sure their DTCC-related skills are sound and up-to-date. This interaction with certified individuals will include the distribution of a newsletter, training updates, and evaluation of skills and knowledge gaps by DTCC Learning professionals.
What is the value of certification to an employee?
All the major players in the financial industry rely on DTCC subsidiaries, and therefore DTCC-related skills are valuable to an individual as he or she moves among functional areas within a participant firm, or even from one firm to another. DTCC Certification is a credential that attests that an individual's knowledge has been measured, tested, and confirmed by DTCC to reflect what it has determined to be most effective in using its systems and services.