Introduction to Pawnbroking Course

For all those who are new to Pawnbroking and anyone looking to refresh their knowledge. The only course of its type tailored specifically for Pawnbrokers and exclusive to the National Pawnbrokers Association.

  • Flackwell Heath, Bucks
  • 9:00AM
  • £345 Member - both days £260 Member - 1 day

Who is it for?

For those new to Pawnbroking or needing to update their knowledge.

Course Objectives and Overview

By the end of the course you will:

  1. Understand the aims and objectives of Pawnbroking.

  2. Be aware of the legal requirements, and FCA compliance standards.

  3. Understand the content, options and importance of the pawn agreement.
  4. Be aware of HMRC money laundering and ICO data protection compliance.

  5. Be aware of safety and practised testing methods for precious metals.

  6. Be aware of method and types of disposition.

 

Day One

Attributes of a good Pawnbroker

Legal requirements and compliance

Early Settlement and part payment (applying the actuarial calculation)

14-day withdrawal

Care of customers’ goods

Security requirements and advice

Dealing with lost agreements/pawn receipts

Realisation of Pawn and settlement with the customer, in the event of default

FCA authorisation application requirements for full permission

 

Day Two

KOT method of testing

Understanding precious metal alloys

Using a 10x lens and guidance on visual inspection

Hallmarks and convention marks

Loan to market value ratio

Correct order of testing for yellow and white metals

Practical testing

 

Accreditation certificate is assessed by multiple choice questions and practical acid testing.

Hand-outs provided and required equipment provided for the training.

 

The Course Tutor

Ken Vaughan has spent over 40 years in the retail jewellery and pawnbroking industries responsible for management development and staff training. Having developing the award winning NPA eLearning modules his knowledge of the industry is extensive. He takes every opportunity to ensure the course is participative, enjoyable and above all meets your needs.

 

Attendance Certificate

The NPA will award a Certificate of Accreditation on successful completion of the course competency tests.