Decree No. 384 / 2016 Coll.
Ordinance on professional competence for distribution of consumer credit
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Order
Effective from 01.12.2016
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01.12.2016
30.11.2016
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384
DECLARATION
of 23 November 2016
on professional competence for distribution of consumer credit
The Czech National Bank provides pursuant to § 160 of Act No. 257 / 2016 Coll., on Consumer Credit, for the implementation of § 60 (6), § 63 (3) and § 69 (5) of this Act:
Subject matter
This decree regulates
(a) the extent of expertise and skills by group of expertise for the provision or mediation of consumer credit and other requirements for the form of professional examination to verify them;
(b) the minimum scope of the requirements for the applicant for accreditation in kind, qualification, organisational and personnel; and
(c) the minimum standard of professional examination, the rules for the provision of a set of test questions drawn up to accredited persons, their handling and updating and the manner in which they are to be held and the composition of the panel, the requirements for the test schedule and for the course, form, extent and method of evaluation of the professional examination.
Scope of expertise
(K § 60 (6) of the Act)
(1) The extent of the professional knowledge of the worker of the person authorised to grant or mediate a consumer credit and of the person authorised to mediate a consumer credit, which is a natural person, must correspond to the substantive activity of such persons in providing or brokering a consumer credit in such a way as to ensure their qualified performance.
(2) A more detailed range of expertise according to Article 60 (4) of Act No. 257 / 2016 Coll., on Consumer Credit ("the Act") is set out in the Annex to this Decree.
Scope of professional skills
(K § 60 (6) of the Act)
The worker of a person authorised to grant or mediate a consumer credit and the person entitled to provide a consumer credit, which is a natural person, shall have the professional skills under which:
(a) to obtain information on a qualified basis in order to carry out a proper analysis of the consumer's requirements, needs, objectives and financial situation;
(b) duly assess the requirements, needs, objectives and financial situation of the consumer and offer him appropriate consumer credit;
(c) to provide information in a qualified and comprehensible manner when communicating with the consumer in such a way that he can assess whether the offered consumer credit complies with his requirements, needs, objectives and financial situation; and
(d) to properly negotiate, in the name and on behalf of the provider or consumer, the contract for the consumer credit, as well as its amendments and termination of the obligations arising therefrom.
Substantial assumptions
(Paragraph 63 (3) of the Law)
(1) The accredited person has at his disposal premises suitable for conducting expert examinations, with adequate number and capacity of test rooms.
(2) The accredited person has at his disposal technical and programme means for organising expert examinations and preserving documents on the conduct of expert examination1).
Organisational assumptions
(Paragraph 63 (3) of the Law)
(1) The accredited person shall have an organisational arrangement with a sound, transparent, clear and coherent definition of the activities and their associated scope and decision-making powers, which shall be laid down in the internal regulation.
(2) The accredited person in the internal rules shall also be indicated
(a) security and control measures for processing and recording information relating to professional examinations; and
(b) the rules governing the appointment of the President of the Commission and its members.
(3) The accredited person shall ensure that at least one commission is set up at the time of professional examinations.
(4) The expert test is conducted under the direct supervision of the Commission.
Qualification and personnel assumptions
(Articles 63 (3) and 69 (5) of the Law)
(1) The Commission has an odd number of members and is at least three members.
(2) A member of the Commission is trusted2) and has at least completed a Master's study programme 3).
(3) Where an accredited person is a person authorised to provide or mediate consumer credit (4) or is another member of the business group5) whose member is also an accredited person, the majority of the members of the commission shall be independent of the accredited person, the business group of which the accredited person is a member and other members of the business group.
(4) The remuneration of a member of the commission shall not be derived from the success of the professional examinations.
Test schedule
(Articles 60 (6) and 69 (5) of the Law)
(1) The accredited person shall have a test schedule which ensures at least these requirements:
(a) an objective and impartial approach for all tested; in the case of overcapacity, the examination of invitations to the test shall be selected in an objective and impartial manner;
(b) proper identification of the tested before the beginning of the professional examination;
(c) ensuring the protection of the personal data of the tested;
(d) the objective and impartial conduct of the professional examination;
(e) the objective and impartial selection of the test variant, including the method of generating the test;
(f) confidentiality of the contents of each test variant;
(g) the thematic content of the professional examination;
(h) verifiable recording of the course and result of the expert examination and their verification by the commissions; and
(i) the possibility and procedure for the removal or examination of the outcome of a professional examination by an accredited person.
(2) The test schedule shall include at least:
(a) the development of the requirements referred to in paragraph 1 in specific procedures and model documentation;
(b) rules on the setting and publication of test dates; the accredited person shall ensure that at least one test date is held on a quarterly basis if at least 10 tested persons apply for that period;
(c) the content and scope of the professional examination;
(d) the minimum number of members of the examination committee and their decision-making arrangements;
(e) the rules governing the exclusion of the tested person from the professional examination and the possibility of reviewing this Decision;
(f) the amount of fees associated with the professional examination;
(g) indicating whether the professional examination is written, oral or combined;
(h) rules governing the procedure for the prejudice of a member of the Commission; and
(i) rules governing the check-out and non-participation of the tested person.
Minimum standard of professional examination
(Paragraph 69 (5) of the Law)
(1) The professional examination for the granting or brokering of consumer credit other than for housing or consumer credit for housing takes a total of 120 minutes.
(2) The professional examination for the provision or brokering of tied consumer credit takes a total of 90 minutes.
(3) The professional examination for the provision or brokering of both consumer credit other than for housing and consumer credit for housing takes a total of 180 minutes.
(1) A total of 60 test questions designed to check professional knowledge according to the chosen group of expertise are submitted to a candidate to provide or mediate a consumer credit other than for housing or consumer credit for housing.
(2) A total of 32 test questions intended to check the expertise are submitted to the tested person to provide or mediate a tied consumer credit.
(3) A total of 92 test questions designed to check professional knowledge are submitted to a candidate who is to provide or mediate both consumer credit other than for housing and consumer credit for housing.
(1) The professional skills of the tested to provide or mediate a consumer credit other than for housing or a consumer credit for housing or a tied consumer credit are reviewed by two case studies according to the chosen expert group; each of them contains 5 test questions aimed at demonstrating professional skills in accordance with Section 3.
(2) The professional skills of the tested to provide or mediate both consumer credit other than for housing and consumer credit for housing are reviewed by 3 case studies; each of them contains 5 test questions aimed at demonstrating professional skills in accordance with Section 3.
(1) Each of the test questions has four possible alternative responses.
(2) Three quarters of test questions intended to check the expertise and all test questions intended to check the professional skills have one correct response option. One quarter of the test questions intended to check the expertise shall have one or more correct answers; any incorrectly selected or missing response option makes the entire test question incorrectly answered.
(3) The correct answers, which have one correct response option, are evaluated by one point and the correct answers, which have one or more correct answers, and the questions from the professional skills range are evaluated by two points.
In order to pass the professional examination successfully, the tested shall obtain at least the following:
(a) three quarters of the available points of all test questions;
(b) three fifths of the points attainable from test questions concerning expertise; and
(c) three fifths of the available points from test questions concerning professional skills considered to be a separate area for the purposes of calculation.
Rules for updating, providing and handling test questions to accredited persons
(Paragraph 69 (5) of the Law)
(1) A set of test questions shall be updated at least annually. The number of test questions prepared to check the expertise must not fall below 600 on updating, the number of case studies below 40. Expert examinations can be organised according to the text of the question set before the update no longer than a month after publication of this update by the Czech National Bank.
(2) A set of test questions with correct answers is published by the Czech National Bank on its website. A set of test questions with correct answers will be sent by the Czech National Bank to accredited persons using a data box each time it has changed.
(3) The accredited person creates individual test variants shortly before the professional examination. The order of correct responses for each test question shall be determined differently for each test variant. Each tested shall receive their own test variant. The accredited person shall carry out all necessary measures to conceal each test variant.
Efficacy
This Decision shall enter into force on 1 December 2016.
Governor:
Ing. Rusnok v. r.
Annex to Decree No 384 / 2016 Coll.
Scope of expertise
I. The thematic areas of the necessary knowledge for the provision or brokering of consumer credit other than for housing include:
(a) professional minimum on the financial market
1. the financial market, its definitions, role and importance;
2. the foundations of finance theory (time value of money),
3. financial mathematics (interest),
4. financial market structure (primary and secondary markets, money and capital markets),
5. financial market participants (creditors, debtors, financial intermediaries),
6. regulation and supervision of the financial market,
(b) the structure, entities and functioning of the consumer credit market other than for housing
1. consumer credit provider, independent intermediary, tied agent, tied consumer credit intermediary, foreign intermediary,
2. credit relationship principles, basic parameters and obligations of the Contracting Parties;
3. debtors' registers,
4. types of non-residential consumer credit (special-purpose and non-purpose loans, cash loans, overdraft, credit cards, credit account),
5. risks of consumer credit other than for housing;
(c) regulation of the consumer credit market other than for housing
1. consumer protection legislation;
2. the foundations of related financial market regulations, civil law (in particular credit agreements) and commercial law,
3. Certain requirements for the exercise of an activity (in particular the rules on the handling of complaints and complaints by consumers under § 15 (2) (g) and § 25 of the Act),
4. the foundations of contract law,
(d) credit and consumer credit products other than for housing
1. the rules of procedure;
1.1. Rules on the retention of documents and records under Section 78 of the Act,
1.2 rules on the prohibition of incentives under Article 79 of the Act,
1.3. Information provided by the consumer and rules on the provision of advice under Sections 84 and 85 of the Act,
1.4. Consumer information obligations under Sections 90 to 111 of the Act and the contract for the mediation of consumer credit under Sections 125 to 127 of the Act,
1.5 the terms of the contract pursuant to § 112 to 121 of the Act and the terms of the termination of the obligation under § 128 to 132 of the Act,
2. payments related to consumer credit (interest, fees, commissions, meaning of the APRC),
3. the rules governing the negotiations with consumers who are late pursuant to Article 15 (2) (h) of the Act (information on interest on late payments, late payments, refinancing of the credit agreement, adjustment of contractual terms) and the creditor's procedure in the event of default of the consumer under Articles 122 and 123 of the Act;
4. the rules on the recovery of claims under Article 15 (2) (i) of the Act (execution by court or court);
5. options for resolving disputes arising from the provision of consumer credit (e.g. financial arbitrator),
(e) ancillary services related to consumer credit other than for housing;
1. basic insurance, provision of consumer credit through insurance (life insurance, insurance of consumer credit), assistance services,
2. insurance of motor vehicles (emergency insurance, liability insurance),
3. deposit accounts, payment accounts,
4. the effect of consumer credit-related ancillary services on the level of RPSN;
5. credit cards (in particular credit cards),
(f) principles of the consumer credit assessment process
1. Assessment of consumer creditworthiness and related rules under § 86 to 89 of the Act.
II. The thematic areas of the necessary knowledge for the provision or brokering of tied consumer credit include:
(a) professional minimum on the financial market
1. the financial market, its definitions, role and importance;
2. the foundations of finance theory (time value of money),
3. financial mathematics (interest),
4. financial market structure (primary and secondary markets, money and capital markets),
5. financial market participants (creditors, debtors, financial intermediaries),
6. regulation and supervision of the financial market,
(b) the structure, entities and functioning of the linked consumer credit market
1. consumer credit provider, independent intermediary, tied agent, tied consumer credit intermediary, foreign intermediary,
2. credit relationship principles, basic parameters and obligations of the Contracting Parties;
3. debtors' registers,
4. the definition of the tied consumer credit, its purpose, the tied consumer credit for goods and services,
5. specificities of different types of linked consumer credit (e.g. leasing, repayments),
(c) regulation of the tied consumer credit market
1. consumer protection legislation;
2. the foundations of related financial market regulations, civil law (in particular credit agreements) and commercial law,
3. Certain requirements for the exercise of an activity (in particular the rules on the handling of complaints and complaints by consumers under § 15 (2) (g) and § 25 of the Act),
4. the foundations of contract law,
(d) credit and tied consumer credit products
1. the rules of procedure;
1.1. Rules on the retention of documents and records under Section 78 of the Act,
1.2 rules on the prohibition of incentives under Article 79 of the Act,
1.3. Information provided by the consumer and rules on the provision of advice under Sections 84 and 85 of the Act,
1.4. Consumer information obligations under Sections 90 to 111 of the Act and the contract for the mediation of consumer credit under Sections 125 to 127 of the Act,
1.5 the terms of the contract pursuant to § 112 to 121 of the Act and the terms of the termination of the obligation under § 128 to 132 of the Act,
2. payments related to consumer credit (interest, fees, commissions, meaning of the APRC),
3. the rules for dealing with consumers who are late pursuant to Article 15 (2) (h) of the Act (information on interest on late payments, late payments, refinancing of the credit agreement, modification of contractual terms) and the creditor's procedure in the event of late payment of consumer benefits under Articles 122 and 123 of the Act;
4. the rules on the recovery of claims under Article 15 (2) (i) of the Act (execution by court or court);
5. options for resolving disputes arising from the provision of consumer credit (e.g. financial arbitrator),
(e) ancillary services related to tied consumer credit
1. basic insurance, provision of consumer credit through insurance (life insurance, insurance of consumer credit), assistance services,
2. insurance of motor vehicles (emergency insurance, liability insurance),
3. deposit accounts, payment accounts,
4. the effect of consumer credit-related ancillary services on the level of RPSN;
(f) principles of the consumer credit assessment process
1. Assessment of consumer creditworthiness and related rules under § 86 to 89 of the Act.
III. Thematic areas of the necessary knowledge for the provision or brokering of consumer housing credit include:
(a) professional minimum on the financial market
1. the financial market, its definitions, role and importance;
2. the foundations of finance theory (time value of money),
3. financial mathematics (interest),
4. financial market structure (primary and secondary markets, money and capital markets),
5. financial market participants (creditors, debtors, financial intermediaries),
6. regulation and supervision of the financial market,
(b) the structure, entities and functioning of the consumer credit market for housing
1. consumer credit provider, independent intermediary, tied agent, tied consumer credit intermediary, foreign intermediary,
2. credit relationship principles, basic parameters and obligations of the Contracting Parties;
3. debtors' registers,
4. consumer housing credit (definition, purpose),
5. risks of consumer housing credit;
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Regulation Information
| Citation | Decree No 384 / 2016 Coll., on professional competence for distribution of consumer credit |
|---|---|
| Regulation Type | Order |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 30.11.2016 |
|---|---|
| Effective from | 01.12.2016 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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