The exam - written by the NACFB, high street banks and the Institute of Financial Services School of Finance - is the equivalent of CeMAP 3 and covers commercial relationship banking. It will be called the Certificate in Business Banking and Conduct.
The qualification will cost £155 and consists of two units: principles of business banking and providing solutions to business banking customers.
Existing members will have 12 months to sit the exam while all brokers wishing to join the NACFB will have to pass the exam before being accepted to the association.
Students must achieve a minimum of 70% to pass each unit.
Adam Tyler, chief executive of the NACFB, said: “It means when I speak to the government and regulators about why small businesses should be dealing with commercial finance brokers I can say they are all qualified and all of professional standard. This is part of self-regulation.”
The exam will include a section covering bridging finance.
“This recognises that short-term funding can make up part of a deal and where it should fit,” added Tyler.
Some members will be exempt if they hold ACIB qualifications already and brokers with the CeCM are exempt from having to take the exam.
The Finance and Leasing Association is also bringing in a level 4 exam for those wishing to do equipment finance.
