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Free Practice Questions for Korea Credit Manager (신용관리사)

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Key Facts: Korea Credit Manager (신용관리사) Exam

100

Total Examination Questions

Korea Credit Information Association (신용정보협회)

100 min

Exam Duration

Korea Credit Information Association (신용정보협회)

40% / 60%

Passing Standard (Subject Floor / Overall Average)

Framework Act on Qualifications / CICA Regulation

KRW 50,000

Examination Registration Fee

CICA Examination Announcement

4 Subjects

Curriculum Subject Areas (25 Qs each)

Official Examination Blueprint

국가공인

National Authorized Qualification Status

Ministry of Justice / Financial Services Commission Authorization

Korea Credit Manager (신용관리사) is a premier national authorized qualification administered by the Korea Credit Information Association (CICA). The exam tests 100 multiple-choice questions in 100 minutes across 4 subjects: Claims Law, Credit Practice, Debt Collection Methods, and Compliance. A minimum of 40 points in each subject and an overall average of 60 points are required to pass. Registration costs KRW 50,000.

Sample Korea Credit Manager (신용관리사) Practice Questions

Try these sample questions to review concepts for the Korea Credit Manager (신용관리사) exam. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.

1Under Article 467 of the Korean Civil Act (민법), what is the statutory default rule regarding the place of performance (변제장소) for a monetary obligation when the parties have made no specific agreement?
A.The creditor's current domicile (지참채무)
B.The debtor's current domicile (추심채무)
C.The location where the underlying contract was concluded
D.The court having jurisdiction over the debtor's principal office
Explanation: Under Article 467 (2) of the Civil Act, if there is no specific agreement or statutory provision regarding the place of performance, delivery of a specific thing must be made where the thing existed when the obligation arose, and all other obligations (including monetary obligations) must be performed at the current domicile of the creditor (지참채무). Therefore, the debtor bears the risk and burden of transmitting payment to the creditor.
2In Korean civil law, which of the following is NOT an essential legal prerequisite for establishing default due to delay in performance (이행지체)?
A.The performance must still be objectively possible (이행이 가능할 것)
B.The creditor must have suffered substantial financial loss (실질적 손해 발생)
C.The performance date must have arrived (이행기가 도래하였을 것)
D.The delay must be attributable to the debtor's fault or intention/negligence (채무자의 귀책사유)
Explanation: The occurrence of actual damages is not a requirement for the establishment of default by delay (이행지체 성립요건). Default is legally constituted when the obligation is due, performance remains possible, delay is attributable to the debtor's fault, and the delay is unlawful (위법성). Actual damages are only relevant when determining the scope of monetary compensation.
3Under Article 389 of the Civil Act, which compulsory performance method (강제이행) must be ordered when the debtor fails to perform a non-substitutable act that can only be performed by the debtor personally (부대체적 작위채무), such as providing an artist's personal performance?
A.Direct enforcement (직접강제)
B.Substitute enforcement (대체집행)
C.Indirect enforcement (간접강제)
D.Criminal confiscation (형사몰수)
Explanation: Under Article 389 of the Civil Act and Article 261 of the Civil Execution Act, where the nature of an obligation does not permit substitute performance by a third party (부대체적 작위채무), indirect enforcement (간접강제) is the authorized remedy. The court orders the debtor to perform within a fixed period or pay a specified fine for each day of continued non-performance.
4Regarding the scope of damages for breach of contract under Article 393 of the Civil Act, what is the statutory requirement for the creditor to recover 'special damages' (특별손해)?
A.The creditor must have registered the special damages with a notary public prior to breach
B.The special damages must not exceed twenty percent of the primary contractual obligation
C.The debtor must have committed intentional gross fraud against the creditor
D.The debtor knew or could have foreseen the special circumstances giving rise to the loss (채무자가 그 사정을 알았거나 알 수 있었을 때)
Explanation: Under Article 393 (2) of the Civil Act, the creditor can recover damages arising from special circumstances (특별손해) only if the debtor knew or was in a position to foresee such circumstances at the time of the breach. In contrast, ordinary damages (통상손해) are recoverable as a matter of law without proving foreseeability.
5When commercial parties agree on liquidated damages (손해배상액의 예정) in a sales agreement, which principle governs the court's authority under Article 398 (2) of the Civil Act?
A.The court has no authority to alter liquidated damages agreed between commercial entities under any circumstances
B.The court may ex officio reduce the liquidated amount if it is deemed unjustly excessive (부당히 과다한 경우 직권 감액)
C.The court may only reduce the amount if the debtor formally files a separate constitutional complaint
D.The court can unilaterally increase the amount if the creditor suffered losses exceeding the agreed liquidated sum
Explanation: Article 398 (2) of the Civil Act provides that if an agreed amount of liquidated damages (손해배상액의 예정) is unjustly excessive, the court may reduce it to a reasonable amount ex officio (직권으로 감액할 수 있다). This equitable power applies even in commercial transactions when the stipulated damages excessively exceed potential actual losses.
6What is the statutory limitation period for exercising the creditor's right of revocation (채권자취소권 / 사해행위취소권) under Article 406 (2) of the Civil Act?
A.Within 1 year from the date the creditor became aware of the cause for revocation, and within 5 years from the date the juridical act was performed
B.Within 6 months from awareness and within 2 years from the date of the juridical act
C.Within 3 years from awareness and within 10 years from the date of the juridical act
D.Within 1 year from the debtor's default, regardless of when the creditor became aware of the transfer
Explanation: Article 406 (2) of the Civil Act specifies that a lawsuit for revocation of a fraudulent conveyance (사해행위취소의 소) must be brought within one (1) year from the date on which the creditor became aware of the cause for revocation (취소원인을 안 날로부터 1년), and within five (5) years from the date on which the juridical act was performed (법률행위가 있은 날로부터 5년). These periods are peremptory periods (제척기간).
7When a creditor exercises the creditor's subrogation right (채권자대위권) to collect a monetary claim under Article 404 of the Civil Act, which condition regarding the principal debtor (채무자) is generally required?
A.The debtor must have been formally convicted of criminal breach of trust
B.The debtor must give written consent before a notary public
C.The debtor must be insolvent (무자력) and have failed to exercise their own right against the third-party obligor
D.The creditor must hold a final judicial execution title (집행권원) against the third-party obligor
Explanation: To exercise subrogation for preserving a monetary claim under Article 404 of the Civil Act, the debtor must be insolvent (무자력 / lack sufficient assets to satisfy the claim) and must have neglected to exercise their own right against the third-party obligor (제3채무자). If the debtor is solvent, the creditor cannot interfere in the debtor's legal relations unless the right preserves a specific non-monetary claim.
8In joint and several obligations (연대채무), which of the following events occurring between the creditor and one joint debtor produces an absolute effect (절대적 효력) that discharges all other joint debtors?
A.Extinctive prescription running in favor of only one debtor without interruption
B.The creditor granting a unilateral extension of maturity to one debtor
C.Filing a civil lawsuit against only one debtor
D.Complete performance of the obligation (변제) or set-off (상계)
Explanation: Under the Civil Act (Articles 416 through 422), acts that satisfy the creditor's interest—most notably full performance (변제), substitute performance (대물변제), set-off (상계), and deposit (공탁)—produce absolute effect (절대적 효력), releasing all co-debtors to the extent of the satisfaction.
9How does a simple surety (단순보증인) differ from a joint and several surety (연대보증인) under Korean Civil Act Article 437?
A.A simple surety is strictly liable for punitive damages, while a joint surety is not
B.A simple surety holds the defense of demand (최고의 항변권) and defense of search (검색의 항변권), whereas a joint surety cannot assert them
C.A simple surety's obligation is not subject to extinctive prescription
D.A simple surety must be a licensed financial institution
Explanation: Under Article 437 of the Civil Act, a simple surety has the benefit of discussion and division—specifically the defense of demand (최고의 항변권: demanding the creditor first pursue the principal debtor) and defense of search (검색의 항변권: showing the debtor has leviable assets). A joint surety (연대보증인) renounces these defenses and must pay immediately upon demand.
10Which category of claims CANNOT be validly assigned to a third party under Article 449 of the Civil Act?
A.A claim whose nature does not permit assignment (성질상 양도가 허용되지 않는 채권), such as a claim for alimony or personal support
B.A matured trade account receivable arising from the sale of manufactured hardware
C.A promissory note endorsed in blank without stating the assignee's name
D.A secured loan claim backed by a registered factory mortgage
Explanation: Article 449 (1) of the Civil Act provides that a claim may be assigned unless its nature does not permit it (채권의 성질이 양도를 허용하지 아니하는 때). Claims where personal identity is essential, such as maintenance/support claims (부양료청구권), employment claims, or claims based on personal confidence, cannot be assigned.

About the Korea Credit Manager (신용관리사) Exam

The Korea Credit Manager (신용관리사) is a nationally authorized qualification (국가공인 민간자격) administered by the Korea Credit Information Association (신용정보협회 / CICA) under the Framework Act on Qualifications and the Credit Information Use and Protection Act. Credit managers are key professionals in corporate credit risk control, financial institution non-performing loan (NPL) resolution, debt collection delegation management, and legal execution proceedings. This practice bank provides an independent English-language 100-item multiple-choice study adaptation complete with authentic Korean statutory terminology.

Exam sponsor: Korea Credit Information Association (신용정보협회 / CICA). The requirements and fees below concern the certification or admission exam, separate from our free practice resources.

Assessment

Single 100-minute written examination consisting of 100 five-option multiple-choice questions across four 25-question subjects: General Claims & Obligations Law, Credit Management Practice, Debt Collection & Legal Execution Methods, and Customer Care & Regulatory Compliance.

Time Limit

100 minutes

Passing Score

Subject floor of 40% (at least 40/100 points per subject) and an overall average score of at least 60% across all four subjects

Exam / Certification Fees

KRW 50,000

Exam sponsor website

Fees, eligibility, and exam policies can change. Confirm them with the exam sponsor before applying or paying.

Our practice resources: topics covered

We aim to reflect publicly available exam outlines and topic information in our study resources. Coverage, format, and difficulty may differ from the actual exam, and we cannot guarantee that every detail is accurate or current. Confirm exam requirements, fees, and policies with the official exam sponsor.

25% (25 Qs)

General Claims & Obligations Law (채권일반법률)

Civil Code general principles of claims, breach of contract, damages and liquidated damages (손해배상액의 예정), fraudulent conveyances (채권자취소권), subrogation (채권자대위권), joint and several obligations (연대채무), set-off (상계), claim assignments (채권양도) and perfection by fixed date (확정일자), and general/commercial extinctive prescription periods (소멸시효).

25% (25 Qs)

Credit Management Practice (신용관리실무)

Credit investigation and commercial debtor profiling, real estate register reading (갑구/을구), setting credit limits (5 Cs of credit), accounts receivable ledger analysis and DSO aging schedules, commercial drafts under the Bills and Checks Act (어음·수표법), dishonor procedures, and credit collection delegation agreements (채권추심위임계약).

25% (25 Qs)

Debt Collection & Legal Execution Methods (채권추심기법)

Civil Execution Act framework, provisional remedies (가압류·가처분), obtaining titles of execution (지급명령 payment orders, 공정증서 notarial deeds, court judgments), property disclosure (재산명시) and asset inquiry (재산조회), defaulters' registration (채무불이행자명부), compulsory execution over bank accounts, movables, and real estate auction (배당순위).

25% (25 Qs)

Customer Care & Regulatory Compliance (고객만족 및 법률준수)

Fair Debt Collection Practices Act (채권의 공정한 추심에 관한 법률) restrictions on nighttime contact, third-party disclosure, and coercion; Credit Information Use and Protection Act (신용정보법) scope and data privacy; Personal Information Protection Act requirements; debtor relief systems; and professional ethics of credit managers.

Preparing for the Korea Credit Manager (신용관리사) Exam

What You Need to Know

  • Passing score: Subject floor of 40% (at least 40/100 points per subject) and an overall average score of at least 60% across all four subjects
  • Assessment: Single 100-minute written examination consisting of 100 five-option multiple-choice questions across four 25-question subjects: General Claims & Obligations Law, Credit Management Practice, Debt Collection & Legal Execution Methods, and Customer Care & Regulatory Compliance.
  • Time limit: 100 minutes
  • Exam / certification fees: KRW 50,000 Official sources

Using Our Practice Resources

  • Work through all 100 available questions
  • Review every answer and explanation
  • Track weak areas and revisit them
  • Use our AI tutor for tough concepts

Korea Credit Manager (신용관리사): Suggested Study Strategy

1Master the distinction between civil (10-year) and commercial (5-year) extinctive prescription periods, as well as the 3-year and 1-year short-term limitation rules under Civil Act Articles 163 and 164.
2Understand the perfection rules for claim assignment (채권양도): notice or acknowledgment requires a certified fixed date (확정일자 있는 증서) to prevail against third parties and competing creditors.
3Distinguish between collection orders (추심명령) and assignment orders (전부명령): assignment orders transfer the debt exclusively to the creditor but become completely void if prior attachment orders overlap.
4Memorize the real estate auction distribution priority (배당순위), especially the position of execution costs, small tenant priority deposits (최우선변제 소액보증금), 3 months' wage claims, and registered mortgages.
5Thoroughly review prohibited behaviors under the Fair Debt Collection Practices Act, including nighttime contact (21:00 to 08:00), notifying third parties of debt status, and attempting to collect time-barred debts (소멸시효 완성채권).
6Pace your practice to complete 100 questions within 100 minutes (1 minute per question), allocating time carefully between legal analysis questions and practical calculation questions.

Frequently Asked Questions

What is the Korea Credit Manager (신용관리사) qualification?

The Korea Credit Manager (신용관리사) is a nationally authorized qualification (국가공인 민간자격) administered by the Korea Credit Information Association (신용정보협회 / CICA). It certifies professional competence in credit evaluation, accounts receivable risk control, legal debt recovery execution, and compliance with debt collection regulations.

How is the official examination structured?

The examination consists of 100 five-option multiple-choice questions administered in a single 100-minute session. The exam covers 4 subjects with 25 questions each: General Claims & Obligations Law, Credit Management Practice, Debt Collection & Legal Execution Methods, and Customer Care & Regulatory Compliance.

What are the passing criteria for the examination?

To pass, a candidate must achieve a score of at least 40% (40 points out of 100) in each of the four individual subjects (과락 기준) and an overall average score of at least 60% (평균 60점) across the entire examination.

What are the eligibility requirements and registration fees?

There are no restrictions regarding age, educational background, or nationality to take the examination. The examination fee is KRW 50,000. However, statutory disqualification criteria under the Credit Information Act apply for those seeking official registration as active collection personnel.

What key statutes are tested on the Credit Manager exam?

The exam heavily tests the Korean Civil Act (민법 - claims section), Commercial Act (상법), Civil Execution Act (민사집행법), Bills Act (어음법), Checks Act (수표법), Fair Debt Collection Practices Act (채권의 공정한 추심에 관한 법률), and the Credit Information Use and Protection Act (신용정보의 이용 및 보호에 관한 법률).

What does this 100-question practice bank cover?

This practice bank is a comprehensive English-language study adaptation containing 100 questions (25 per subject) mirroring the official CICA syllabus and difficulty distribution, equipped with authentic Korean statutory terms and detailed rationales for both correct and incorrect options.