Final answer:
The process through which an agency grants recognition to an individual who demonstrates specialized professional skills and charges annual fees for continued recognition and verification of continuing education.
Step-by-step explanation:
The subject of this question is Business. It is a process called credentialism which refers to the emphasis on certificates or degrees to show that a person has a certain skill, has attained a certain level of education, or has met certain job qualifications.
This process involves the recognition of an individual who demonstrates specialized professional skills. This recognition is granted by an agency, and to maintain this recognition, annual fees are charged for continued recognition as well as verification of continuing education.
Examples of this process include obtaining certifications like Certified Public Accountant (CPA), Project Management Professional (PMP), or Professional in Human Resources (PHR).