DRA Practice Exam

DRA or Debt Recovery Agent is the job role which is responsible in recovering unpaid debts for creditors. The function involves contact debtors owing money, negotiating repayment, and collecting overdue debts. They usually work for banks, financial institutions, debt collection agencies, or as independent contractors.
Certification in debt recovery verifies your skills and knowledge in managing and recovering debts. This certification assess you in debt collection techniques, negotiation, legal compliance, and ethical considerations.
Why is DRA certification important?

• The certification certifies your skills and knowledge of debt recovery.
• Improves your job prospects in debt recovery practices.
• Ensures your knowledge of legal and ethical standards.
• Increases your chances of getting job with banks.
• Provides you a competitive edge in the industry.
• Expands your career advancement opportunities in debt collection.

Who should take the DRA Exam?

• Debt Recovery Agents
• Credit Collection Specialists
• Collection Supervisors
• Collection Agency Managers
• Credit Managers
• Accounts Receivable Specialists
• Legal Collection Specialists
• Debt Collection Consultants
• Recovery Managers
• Financial Service Advisors

Skills Evaluated

Candidates taking the certification exam on the DRA is evaluated for the following skills:

• Debt recovery techniques and strategies.
• Debt negotiation
• Debt settlement options.
• Ethics
• Applicable laws
  
• Difficult debtor interactions
• Conflicts resolution
  
• Collection records and documentation.
• Credit reports
  
• Communication skills
  
• Consumer protection laws
  

DRA Certification Course Outline
The course outline for DRA certification is as below -

• Definition and importance of debt recovery
• Types of debt recovery processes
• Roles and responsibilities of a debt recovery agent

• Overview of debt recovery laws (e.g., Fair Debt Collection Practices Act)
• Ethical considerations in debt collection
• Consumer rights and protections
• Legal actions and court proceedings in debt collection

• Initial contact with debtors
• Establishing contact and setting up payment terms
• Negotiation strategies for debt settlement
• Managing payment arrangements and installment plans

• Verbal and written communication
  
• Active listening
  
• Handling objections
  
• Persuasive communication
  

• Soft collections and hard collections
• Delinquent accounts
• Credit reports
  
• Payment reminders, and follow-up calls

• Documenting communication
  
• Debtor information
  
• Reporting and tracking collection
  

• Credit reports
• Debtor finances
  
• Likelihood of repayment

• Mediation and conflict resolution techniques
• Addressing debtor disputes and complaints
• Legal actions for defaulting debtors

• Managing a portfolio of debts
• Setting and achieving collection targets
• Performance metrics for debt recovery

• Consumer protection laws
• Transparency and fairness
  
• Harassment complaints