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At CSI, the well-being of our valued learners and staff is our highest priority. Learn more about our response to COVID-19 and changes to our exam delivery format.

Moody's Commercial Lending (CLCA)


Upon completion of the Commercial Lending course, learners will gain a deeper understanding of businesses and their borrowing needs, evaluate risks, and make good credit decisions.

Topics covered in the course include:

  • Financial Risk Assessment
    • Credit Analysis Foundation
    • Businesses and Their Borrowing Needs
    • Profitability Ratios
    • Activity Ratios
    • Capital Spending, Leveraging, and Debt Coverage
    • Cash Flow Analysis
    • Projections and Credit Risk Assessment
  • Market Risk Assessment
    • Credit Analysis Foundations
    • Business Environment
    • Industry Status
    • Competitionc
    • Company Vulnerability
  • Management Risk Assessment
    • Credit Analysis Foundations
    • Management Integrity and Scope
    • Management Skill and Execution
    • Management Scope
  • Mitigating Risk Assessment
    • Credit Enhancements and Profitability
    • Projections and Credit Risk Assessment
Approximate Hours of Study**
Hours of Study 30 - 35 hours

** Please note that these are only recommended hours of study developed based on research and our course content, however, this does not mean that some students with exceptional backgrounds would not take less time than recommended or that students with no background at all in finance or economics would not take longer than the maximum.

How you'll learn

The course is taught online and is composed of 18 modules representing the topics of study. Each module consists of:

  • A module introduction video to highlight the key concepts taught.
  • A diagnostic test to help you identify areas where you should focus your studies.
  • 2 to 4 interactive lessons (video/games), each estimated to take 20 to 30 minutes. Each lesson ends with a quiz to help reinforce the concepts reviewed in the lesson.
  • An end of module online exam, to test your mastery of the principles in the module.

Simulation exercise: The simulation assesses the lenders ability to apply what they'd learned by working through a real business lending scenario. You are required to gather data, analyze credit risk and recommend a loan decision and structure, and then compare your decisions and recommendations with those of an expert.


At the end of each module you will be required to complete the "module exam" to test your mastery of the principles in the module. Students must score at least 70% on all 18 tests in order to show the course as successfully completed to earn a passing grade.
Number of Module Exams 18
Test Format Online
Test Length Varies - 15 minutes to 27 minutes
Question Format Multiple Choice and True/False
Questions Per Test Varies
Attempts Allowed Per Test 2
Passing Grade 70%
Enrolment Period 1 year


About the Exam

The CLCA exam is completely online and accessible through your online course. Advance booking is not required.

*There is no charge for your first attempt at a paper-based exam within Canada, as long as it's at a regular exam center and you provide a minimum of 14 days notice before the date that you want to write the exam. If you would like to write a computer-based exam, an additional $75 fee will be required.

Each subsequent paper-based exam attempt at a regular exam centre within Canada cost $250 plus tax. This fee is in addition to any special, computer-based or international fees that may apply. You must provide a minimum of 14 days notice within Canada at a regular exam centre and 4 weeks notice for all other centres. Please note that the date of the exam is not part of any notice period.

†Please note: Access to your online materials will close 2 weeks after successful course completion or course expiry (whichever comes first). This course can be extended by 1 year provided you have not exceeded the attempts allowed for each exam. You can view CSI extension fees here. Your enrolment period can only be extended one time.

Important: During a student's enrolment period, CSI may update this course. In that case, details about the update and how it may affect students will be posted online via My CSI. Students are held responsible for and are examinable on the content in the course textbook(s) provided at the time of enrollment unless stated otherwise in My CSI. Students are encouraged to check My CSI regularly throughout their enrolment period.

Continuing Education (CE) Credits

Click the links below or the buttons at the top of the page on the right side to access CE accreditation information. To search for specific course information, press Ctrl + F and then enter the course name to search the document for the information you are interested in.

National/Provincial (Excluding Quebec)
Download CE Chart (PDF, 163 kb)

Quebec (IQPF/CSF)
Download IQPF/CSF Chart (PDF, 182 kb)

Please note: While CSI makes every effort to ensure that the information is up-to-date, we are unfortunately unable to fully guarantee its accuracy. The information listed in the charts above may be subject to change.

For details on the organizations and other information on CE Credits listed in the above charts, please click here.