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Certified International Trade Professional® (CITP) Practice Exam

Certified International Trade Professional® (CITP) 

With regards to government regulations and import/export responsibilities, recognizes the various uses of international trade documentation, monitors and improves companywide compliance. With exposure to foreign exchange markets, exchange rates, interest rates and currency swaps, grasp a solid framework of international trade finance. By understanding a culture’s impact on international trade and examines case studies implements a marketing strategy to identify marketing issues and concerns of successful participants in the global marketplace. In order to achieve objectives of their company’s implemented market research programs, surveys and plans to promote brands.

The individual seeking this certification will own the knowledge to lead its organization in the international trade. Therefore, becoming a valuable resource for international trade and will take the steps to advance their career in the import/export industry.

  • Certification level Senior Experienced
  • Certification Examination duration Four Hour Proctored Examination
  • Certified International Trade Professional® (CITP) Exam Cost $360.00


Exam format

This is a closed book, 4-hour online exam entailing approximately 150 MCQs, presented either as case-based or as independent questions. 

  • A set of approximately 2-5 questions associated with a brief international trade scenario are included in the Case-based questions. 
  • All the information necessary to answer the question is included in the independent questions. 


*Note- this exam isn’t marks based, simply a pass or fail grade is provided. 


What is the process for taking this exam?

  1. Engage in Preparation Training /or/ Study Knowledge Requirements
  2. Then locate a Proctor
  3. Fill out Test Site Application (available on its official site)
  4. Make the Exam Payment
  5. Prepare for Exam


Eligibility  to take CITP Exam

A minimum of 12 months international trade work experience is required to secure the CITP®| FIBP® designation. And, depending on your job and responsibilities, you may be closer than you think in securing your CITP®| FIBP® designation.

What qualifies as international trade work experience?

  • A profession where activities that deal with or support the company’s importing and/or exporting activities are the major job responsibilities.
  • A profession where your responsibility is to provide support to importers and exporters, such as an association or crown corporation.
  • Your position does not necessarily need to have ’importing’ or ’exporting’ in the title.
  • You work with a company that does importing or exporting activities, but where you don’t possess any responsibilities in that area, does not qualify as work experience.


Required Skills

The following listed topics are defined as within this body of knowledge and are reflected in the knowledge assessment requirements stated for this certification. A person who holds this certification must have satisfactorily passed an examination demonstrating a high degree of knowledge of these topics and knowledge requirements.


Industry Standard: Exhibiting basic knowledge and usage of international trade principles, concepts and processes.

  • Marketing
  • Documentation
  • Logistics 
  • Finance


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. Understanding the documentation needs of general goods being imported or exported.

Expansion of the

firm to international

markets

 

Analysis of product

import/export

potential

 

International Market

Research

 

 

Establishing pricing

for international

markets

To know how to determine if a firm should expand their effort to include import/export markets.

 

To be proficient at analyzing the import/export ability of a product or service.

 

To be capable of understanding the mechanics of primary market research: have the potential to build a market survey instrument for import/export use. To make import/export decisions knowing how to use secondary market research

 

Possessing a basic knowledge of the principles of setting a product’s price in a foreign market.

International

Finance Tools

 

 

International

Distribution

Having the capability of using the various financial

Tools that include letters of credit and other

forms of payment and credit terms, which are used in

international trade

 

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 for assisting individuals and organizations in their efforts to import/export goods and services.



International Marketing

 

Topic

Knowledge Demonstrated

General Marketing

Concepts

To understand the purpose and mechanics of marketing and how marketing as a discipline fits in to the organization’s strategic planning process. To know the terms, concepts and practices used in modern business as they relate to global marketing. To know the differences between international marketing and domestic marketing.

Marketing Research

To understand the fundamentals of marketing research. To be able to design a research strategy and be able to construct a marketing survey instrument for use in the global environment.

Environmental

Analysis in the Global

Village

To be able to analyze the forces that shape a firm’s marketing strategy. To know how country culture impacts marketing decisions.

Assessing Global Market Opportunities: Determining Marketing Potential

To have knowledge of how to analyze a company’s marketing potential with a focus toward global opportunities. To beagle to determine if a product has potential in a specific foreign market

Global Market Strategies

 

 

 

Monitoring and Control

To know the various global market strategies that can be used to meet market needs.

 

To know how to establish marketing objectives, measure results (monitoring marketing activities) and control activities.

Global Marketing 4 P’s

 

 

 

 

 

Marketing Mix decisions in a global economy

To know how to determine the price, place, product and promotion for a product or service for international markets.

 

To know how to develop a complete marketing plan, including marketing research instrument (survey), marketing mix decisions, marketing strategies and implementation strategies



Frequently Asked Questions (FAQ) on CITP


Why to earn the Certified International Trade Professional (CITP®|FIBP®) designation?

For international business the Certified International Trade Professional (CITP®|FIBP®) designation is the world’s leading professional designation. So irrespective of you being new to the industry or hold a decade of experience the CITP®|FIBP® designation will help you:

  • Earn a competitive advantage within your industry, 
  • Build credibility with clients, 
  • Colleagues and co-workers, and
  • Land new jobs and promotions


In the competitive international business industry the CITP®|FIBP® designation makes you stand out because it proves you possessing the competencies, that global business experts have identified as being essential for a successful career in the international trade.

Your commitment to global trade as a professional, your dedication to ethical business practices and the ongoing professional development (the desirable traits for today’s global business practitioners) is also identified by it.


How is the CITP®|FIBP® designation acknowledged in Canada and around the world?

The Canadian government, Export Development Canada and the World Trade Centers Association (WTCA), which currently operates in 88 countries worldwide have been endorsing the CITP®|FIBP® designation and FITT’s training.


The CITP®|FIBP® designation has become an asset for the employees in job listings for a wide range of international positions. Go to the jobs section in our TradeReady blog and view the featured listings at the top of the page to see the latest positions seeking candidates with the CITP®|FIBP® designation.


Is the CITP®|FIBP® designation for me?

If you work in international business in any capacity, or aspiring to do so, then CITP®|FIBP® designation is the right choice for you.


Your competencies that are needed to compete with global players are proven by the CITP®|FIBP® designation proves. Irrespective of you working in import/export, logistics and supply chain management, marketing, business development, sales, law, finance, or other fields,. 

Also, it’s equally valuable for professionals at all career stages, whether you’re into your career or hold a decade of experience.

All CITP®|FIBP® designation holders are active in international trade in some form is the most common thing among them, also they indentify the value of professional certification

  • For career advancement
  • Credibility 
  • Proof of their skills and knowledge.


How do I become a CITP®|FIBP®?

You must have A successful completion of the FIT skills program, or equivalency thereof is needed to qualify the CITP®|FIBP® designation, and you must have a minimum one year of professional international business experience. 

To apply for the CITP®|FIBP® designation there are three steps meeting the requirement. Based on your level of education and experience in global business Choose the right option for you.


Towards earning the CITP®|FIBP® designation does prior education and experience count? 

Yes! You can use your prior learning experience to earn FITTskills course credits to work towards earning the FITT Diploma in International Trade, one of the steps towards earning the certification. While, to do so submit your portfolio and complete the professional exam. If you are missing some credits, take part in as many FITTskills courses as you need.

Highly experienced international business professionals with more than 10 years in the field can apply directly for the designation, without having to take any courses or complete any exams or assessments.


What’s the cost to become a CITP®|FIBP®?

In your CITP®|FIBP® application a cost of $270 CAD is included, which covers your first year of certification. But if your CITP®|FIBP® application is not approved, this cost will be fully refunded.

To apply for the designation before you can submit your application there may also be additional costs to meet the criteria, such as courses or workshops, or submitting a Prior Learning Assessment and Recognition (PLAR) portfolio.


After the submission of CITP®|FIBP® application how long does it takes to learn the status of my application?

Once application for CITP®|FIBP® has been submitted, you’ll receive an email stating your application has been received, along with an email copy of your receipt. The FITTstaff reviews most of the applications, while applications by those with 10 or more years of experience are also reviewed by the Certification and Accreditation Committee (CAC), which meets on a monthly basis. It often takes several weeks in the process of reviewing and finalizing your application, and may be affected by the volume of applications, time needed to speak with your contacts or other factors.

You will next be contacted when the review of your application has been completed and its status can be finalized. 

*Note Please do not be concerned if you have submitted your application and have not received any updates in the weeks since the initial confirmation – this timeline is within normal guidelines and any way it does not reflect negatively on the status of your application.


Once CITP®|FIBP® designation is earned how do I maintain it?

You must remain a member in good standing by paying your annual FITT CITP®|FIBP® dues in order to maintain your CITP®|FIBP® designation. And it is recommended to all the CITP®|FIBP® designation holders to undertake at least 30 hours of professional development each year in order to maintain their industry knowledge and skills.


What is the renewal cost of the CITP®|FIBP®?

The cost to renew the CITP®|FIBP® designation each year is $270, the same as the cost for your first year of certification included in the original application.

If my CITP®|FIBP® has expired, what do I need to do in order to renew it ?

Via the online membership renewal form in your user account, you can still renew your designation. To access it, go to your FITT user page, sign in, and then click FITT Members from the menu on the main part of the screen and Membership Renewal from the resulting dropdown menu.


I already hold CITP®|FIBP® designation, but in the Membership Directory, i can’t see myself. How do I add myself to the directory?

To be listed in the Membership Directory you must manually opt. This is due to a number of privacy concerns.

First sign in to the FITT website to add yourself. Once you’ve done so, from the menu on the main part of the screen click FITT Members and My Profile from the resulting dropdown menu.

Once you’re there, you’ll see,

  • A field to write a short bio about yourself, and 
  • A list of checkboxes giving you the control for which information is listed in the directory along with your name.


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