CCM Study Guide 2026
Everything you need to pass the CCM exam in one place: the exam format, every topic to study, real practice questions with explanations, flashcards, and full-length practice tests. Free, no sign-up needed.
📋 CCM Exam Format at a Glance
📚 CCM Topics to Study (69)
✍️ Sample CCM Questions & Answers
1. A credit manager is asked to contribute to a strategic initiative to increase sales by 20%. The most appropriate credit response is to:
Credit managers contribute strategically by modeling risk-adjusted returns and proposing credit structures that enable profitable growth without accepting disproportionate risk.
2. A creditor considers using a pre-judgment attachment to secure a claim. This remedy is appropriate when:
Pre-judgment attachment is an extraordinary remedy used when there is a real risk the debtor will move or hide assets before a judgment can be enforced.
3. When benchmarking DSO against industry peers, a credit manager discovers the company's DSO is 15 days higher than the industry median. The most appropriate strategic response is to:
A DSO significantly above industry median warrants investigation into billing accuracy, collection effectiveness, and credit terms to identify and address the underlying drivers.
4. Which doctrine holds that a creditor who takes an assignment of an account receivable takes it subject to all defenses the account debtor had against the original seller?
Under UCC § 9-404, an assignee of an account receivable generally takes subject to all claims and defenses that could be asserted against the assignor by the account debtor.
5. A company switches its inventory accounting method from FIFO to LIFO during a period of rising prices. What is the immediate impact on reported gross profit?
Under LIFO in a rising price environment, the most recently purchased (higher cost) inventory is expensed first, increasing COGS and reducing reported gross profit.
6. Which of the following best describes the purpose of a KS (Kolmogorov-Smirnov) statistic in credit model validation?
The KS statistic measures the maximum distance between the cumulative distribution functions of good and bad accounts, reflecting the model's discriminatory power.