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:
Understand the aims and objectives of Pawnbroking.
Be aware of the legal requirements, and FCA compliance standards.
Understand the content, options and importance of the pawn agreement.
- Be aware of HMRC money laundering and ICO data protection compliance.
Be aware of safety and practised testing methods for precious metals.
Be aware of method and types of disposition.
Attributes of a good Pawnbroker
Legal requirements and compliance
Early Settlement and part payment (applying the actuarial calculation)
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
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
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.
The NPA will award a Certificate of Accreditation on successful completion of the course competency tests.