The first thing you need to know is 'what is ITIL
ITIL v2 and ITIL v3, the two versions which we deal with, have altogether different certification schemes. IN ITIL certification v2, there are three levels which are foundation, practitioner, and manager. On the other hand there are four certification levels for ITIL certification v3 which are foundation, intermediate and master, whereas foundation level being similar in both the versions.
ITIL v3 certification scheme offers many different sorts of modules. They have a very unique way of assigning credits to the candidates. Every level and qualification is assigned or given a particular unique value and on the completion of the level or qualification, the candidate is given credit points with respect to the qualification being completed by him. For instance; on completing the first basic level known as foundation the candidate is awarded two points. In the same way after the completion of the intermediate level, candidate is awarded 15 credits. These credits are later on added in the 'Lifecycle' stream or a 'Capability' stream; or combination thereof. This Lifecycle module and exam which is mentioned above is of 3 credits. Each Capability module and corresponding exam is of 4 credits. A person wishing to achieve an Expert level will have to gain the required number of credits, which in this case are 22. Together, the total of 22 earned credits designates one as ITIL v. 3 Expert.
The ITIL Certification Management Board (ICMB) is the official boards for managing ITIL certifications of all types.Members of the Board include many representatives from the UK, from The Stationery Office , V3 Examination Panel, and Examination Institutes.
On the completion of this certificate, a candidate does not only gets a piece of paper in the name of a certificate but he also receives a metal pin, which is supposed to be attached on the shirt or jacket etc. This makes the course a bit more interesting but it's more of a tradition rather than an approach to make the certificate interesting. The ITIL pins consist of many small diamonds .There are basically three colors of ITIL v2 pins which are: green, for Foundation Certificate: blue for Practitioner's Certificate and red for Manager's Certificate.