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Continuous Professional Development (CPD) is a trait of professional careers. Do you think doctors, nurses, etc only study on work time?
If you're not in such a professional field, discuss remuneration for doing it in your free time as the company will benefit. You need to figure out how much you want for a raise, and if things fall through remind them you'll be more employable and you can go elsewhere after passing. Maybe even push for an early raise now to keep you as it seems they like you.
I don't know about medical professionals, but Professional Engineers do, in fact, often get reimbursed by their company for the cost of earning their PDH credits.
100%, I'll work on it at home, but you'll be paying me for my time...
If the company doesn't pay me for a certification they want me to have, I will choose whatever certification/training to meet my requirements. If the cert is something I am interested, cool beans, otherwise the company can pound sand.