Why I Became a CLP "The Handbook"
This is the seventh in a series about the Certified Lease Professional program, explaining why individuals decided to become a CLP, the process, and their reaction to the knowledge and other benefits gained. The crux of becoming a Certified Lease Professional is passing a test that takes from six to eight hours to complete, plus recertifying every four years. Recertification does not require an examination. There are mentors who help those who want to take the test, who do not charge for their time. There are "schools," but the main means to pass the test is to read and study "The Certified Lease Professionals' Handbook." The book is considered by many the "bible" of the equipment leasing industry. While there have been many books on the subject, from James M. Johnson, Ph.D. & Barry S. Marks "Power Tools for Leasing," David G. Mayer's "Leasing for Dummies, (now out of print)" to books written by the late Peter Nevitt, or collections from Ted Parker, CLP, Shawn Halladay, Sudhir Amembal, and the legal tome by the late Jeffrey Wong, esq., the book used for study is considered the most thorough to pass the test. It is available for $59.95 plus postage and handling directly from 1-610-687-0213 or via email at cindy@clpfoundation.org . HISTORY OF THE CERTIFIED LEASE PROFESSIONALS' HANDBOOK by Robert Teichman, CLP The CLP program was started in 1984 by the members of the Broker's Committee of the Western Association of Equipment Lessors ("WAEL"). The original qualifications relied on a complex point system, which was subsequently changed to the current time-in-business standard. At present, candidates wishing to sit for the Certification exam must have been in the equipment or commercial finance business for at least five years, of which three years must have been in equipment leasing. Originally, there were no study materials or courses. Then in 1990 a group of CLPs and other professionals produced the Home Study Course. This large loose-leaf manual covered the thirteen subjects treated in the Certification exam. The authors were Ted Parker, CLP, Ken Goodman, CLP, Hal Horowitz, CLP, Jim Swander, CLP, Ron Silver, CPA, Paul Menzel, CLP, Jon Haas, CLP and Don Zaretsky, CLP. In 1995, the Board of Directors of the United Association of Equipment Leasing ("UAEL") (formerly WAEL) asked Ray Williams, the then Executive Director of the association, to produce a textbook for the CLP program, due to an upsurge in interest in the program. Ray asked for my assistance, as I was then Chairman of the Education Committee and therefore nominally in charge of the CLP program. Ray and I developed the First Edition of the Leasing Professionals' Handbook, using the Home Study Guide as base material. The format was trade paperback, smaller and handier than the loose-leaf binder that preceded it. We recruited additional authors, including Ken Greene, Esq., Oren Hall, Robert Herrick, Bob Rodi, CLP, and Matt Shieman. I authored a chapter and Ray was the overall editor, giving the book a consistent look and editorial style. The book proved popular and was republished as a Second Edition with minor changes and corrections. Both editions retained the original format, covering the thirteen subjects of the Certification exam. Then in 2000, the CLP Program was spun off by UAEL into a free-standing foundation, the CLP Foundation. This foundation is supported by its members and by UAEL, the National Association of Equipment Leasing Brokers ("NAELB") and the Eastern Association of Equipment Lessors ("EAEL"). It is a foundation comprised of individual CLP's, rather than of companies. It has its own officers and Board of Directors, and is the administrator of the CLP Program. The Handbook was transferred to the Foundation by UAEL, and in 2004 the Handbook was completely re-written and published by the Foundation as The Certified Lease Professionals' Handbook. The book was expanded to the sixteen subjects of the current Certification exam. The Handbook is now in its second printing. Many people contributed to the current Handbook. The authors and editors are: James R. Adler, Esq. The Handbook is the primary sourcebook for those people wishing to take the Certification exam. The book has gone through many changes over the years, but the editors and authors will continue to keep the text timely and relevant, as the leasing industry itself. It is available for $59.95 plus postage and handling directly from 1-610-687-0213 or via email at cindy@clpfoundation.org .
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