Good summary of the Islamic concept of "Hafiz", and analogs elsewhere

I was reading about the Islamic concept of the Hafiz, which appears to be a title that is earned by completely memorizing the Quran. Unfortunately, it looks like a lot of information about the concept is in languages that I can’t read.

  1. Can you explain, or link to, a good summary of the concept and more specifically how it works out in real life? For example, is whether or not someone is Hafiz status regulated through informal social pressure or are there formal exams that you can take at mosques or madrassas that grant certificates for a passing score? If you move to a different area, do credentials transfer or do you have to re-certify with a local organization? E.g. if you are recognized as a Hafiz in Pakistan, can you just up and move to Egypt and be recognized as a Hafiz there or would you have to take local exams or coursework?

  2. What are the practical benefits of being a Hafiz? Apparently being one can get you a reward in the afterlife, but what about now? Is being a Hafiz considered to be a valuable vocational credential that can get you hired? Does it qualify you for formal educational programs like Imam preparation courses?

  3. Are there any analogous titles or credentials in other faiths? For example, is there any Christian organization that gives out formal qualifications for memorizing the New Testament?

Please, no vague quips about decapitations or men with AK-47’s “enforcing” the rules. Not all Muslims are like that.