Frequently asked questions (FAQ) about the Certification Programme
What happens if I earn more than 60 credits during one year?
The rule says that you need to earn an average of 60 credits per year. Accordingly, in an extreme case it would be possible for a participant to gather 120 credits in one year and no credits at all in the year after that. Averaged over 2 years this would still result in the 60 credits per year you are required to earn. However, we recommend that you register for trainings on a more regular basis, so that you remain up-to-date with the system's improvements.
What happens if I earn more than 120 credits within 2 years?
Let us assume that, after two years, you have 160 credits on your account. That would have the following two effects: One, your certificate will be renewed for another two years because you earned the required 120 credits. Two, the 40 points you earned in addition to the ones you were required to earn will be propagated to the next certification period.
What happens if I interrupt my activities related to Avaloq, but decide at a later point that I want to return to that work?
Let us assume that in one year you have earned 60 credits. Now you leave the country for 2 years and do not participate in any Avaloq-related training during that time. After two years you return, but your certificate is no longer valid. To "reactivate" your former certificate, you have to catch up with the training you missed in the two years abroad, Which means you have to earn 120 credits in addition to the 60 you already own.
Why has Avaloq specified that certificates be valid for two years?
The Avaloq Banking System is adapted in line with regulatory, technical and banking needs and requirements on an ongoing basis. By limiting the duration of validity, Avaloq strives for an optimal use of its software and the newest technologies.
What are the advantages of participating in this training programme?
Members of the Community who proactively and consistently stay informed and seek training with regard to current developments will have their certificate extended. This ongoing training ensures that the latest knowledge is available in the Community. From the bank's point of view, using employees with up-to-date certification ensures that the Avaloq Professionals are aware of the latest technologies. This reduces project costs and enhances the quality and performance of the product being used.
How can I become a Specialist?
Certified Professionals can choose to focus on a single area of competence and attend training sessions on this topic. They will receive education points for all training completed. After earning 300 additional points they will receive an Avaloq Certified Specialist Certificate, which confirms their specialist knowledge in the area they have chosen. Of course, multiple specialist designations can be obtained by meeting the corresponding requirements.
What happens when I renew my certificate?
When a certificate is renewed, the highest designation(s) received is/are also renewed. For example, an Avaloq Certified Specialist in accounting will receive a renewed "Accounting Specialist" certificate. A specialist with a specialisation in accounting and credit will receive two renewed certificates.
Reactivating certificates that have already expired also renews any additional designations.
Who is responsible for renewing a certificate?
The holder of a certificate shall himself or herself be responsible for its renewal; Avaloq will not specifically advise the holder that it is about to expire.
What are the consequences of a certificate expiring?
Potential employers will not have information about the certificate holder's level of knowledge, which could have a negative impact on that person being hired. Banks are contractually required to hire individuals and/or advisers with valid certificates.Frequently asked questions (FAQ) about the Certification Programme
Frequently asked questions (FAQ) about examinations
How do I register for an examination?
Online, at www.vue.com
How do I pay fort he exam?
Either by using a credit card at the time of registration or by using a voucher number. As a rule, vouchers are purchased centrally by a company, which then distributes them to employees by e-mail. Vouchers are valid for the duration of 12 months. After that period they expire. Expired vouchers will not be refunded.
How much does the Avaloq Certified Professional examination cost?
CHF 700.00
How does the examination work?
It is a computer-based examination. Most questions are in multiple choice format. For some questions, the system will require you to enter your answer manually. The exam takes 120 minutes and consists of 120 questions. For every exam, the system produces an individual set of questions from a large question pool.
Can I re-sit the examination?
Yes, up to two times.