Everything you ever wanted to know about CCRA Level 2 – Ultimate CCRA Level 2 Exam Guide

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The Certified Credit Research Analyst (CCRA) Certification is being jointly offered by Association of International Wealth Management of India (AIWMI) a premier global certification body in financial domain and National Institute of Securities Markets (NISM). The program focuses on financial analysis, credit analysis, rating methodologies, credit strategy and structuring. Learn more about CCRA.

CCRA certification is awarded after a candidate has passed two rigorous exams (Level 1 and 2).

Modes and Eligibility

  1. Regular Mode: A candidate needs to appear for both Level 1 and Level 2 exams.
    Eligibility: A graduate from any stream (Undergraduate Students can register for exams but would be awarded the CCRA certificate after graduation.)
  2. Expert Mode: A candidate needs to appear only for the Level 2 exam.
    Eligibility: CA/FRM/CIIA/CS/ICWA/PRM/CFA Level 2/Any other course approved by the board.

Exam Format

Type of Questions 1 Mark MCQ – 502 Mark Case study MCQ – 35
(7 case studies of 5 questions  each)
Test Duration in minutes 180
No. of Questions 85
Maximum Marks 120
Pass Marks (%) 60
Negative Marking No

CCRA Level 2 Topics

There are 5 topics areas in Level 2:

  • Credit Rating – Internal and External.
  • Credit Strategy and Portfolio Management.
  • Credit Monitoring, NPA Management, Enhancement and Securitization.
  • Credit Risk Models and Regulations.
  • Understanding and Analysis of Corporate Banking Facilities and Other Financing Forms.

Important Dates and Fees

CCRA Level 2 is conducted online on demand at computer based testing provider Pearson VUE, across a network of over 5,000 test centers in 180 countries worldwide.

Regular Mode Expert Mode
Registration Fees ₹47,200 ₹30,000
Level 1 Exam Fee – (3 Months validity) ₹3540 Nil
Level 2 Exam Fee – (3 Months validity) ₹3540 ₹3540
Total ₹54,280 ₹33,540

The registration fee is valid for 5 years and covers the cost of:

  • Study Material (contains the complete curriculum you need to study)
  • Online access to Case studies.

Study Materials

  • CCRA Level 2 Books We recommend this collection written by Aditya Gadge, Biharilal Deora, Revati Kasture.
  • CCRA Level 2 eBooks The only thing better than the CCRA Level I Books are the eBooks – easy to carry anywhere on your phone or tablet, easy to highlight, easy to review your highlights and they’re way cheaper.

Practice Materials

Successful candidates cite Practice as more important than studying. Too many smart and hard working candidates fail these exams due to lack of adequate practice. Regular practice is the biggest differentiator between successful and unsuccessful candidates.

  • PrepSmarter is the most advanced, continuously adaptive, learning engine for CCRA, CFA and FRM exams. It is a great supplement to your favorite instructor or study material while preparing for these tough exams.

Prep Providers

While the CCRA is a self-study program, some candidates may prefer more hands-on guidance in their studying. Exam Preparation Providers are third-party services that assist with exam preparation. Here is a list of 2017 Exam Preparation Providers

Our take: To conquer CCRA, all you need is great study material and grit. You need to have your own grit. No prep provider can help you with either of these.

CCRA is a great credential to have and it is very straightforward to obtain. Just follow a study plan, complete the modules on time, enroll in a practice platform and you’re good to go.

PS: If there are any resources we’ve missed, do let us know in comments.

Best of luck.

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