CFA 100 Success Secrets

Transcription

1 CFA 100 Success Secrets 100 Most Asked Questions: The Missing CFA Exam, Course, Preparation and Review Introduction Guide Korbin Howard

2 CFA 100 Success Secrets Copyright 2008 Notice of rights All rights reserved. No part of this book may be reproduced or transmitted in any form by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of the publisher. Notice of Liability The information in this book is distributed on an As Is basis without warranty. While every precaution has been taken in the preparation of the book, neither the author nor the publisher shall have any liability to any person or entity with respect to any loss or damage caused or alleged to be caused directly or indirectly by the instructions contained in this book or by the products described in it. Trademarks Many of the designations used by manufacturers and sellers to distinguish their products are claimed as trademarks. Where those designations appear in this book, and the publisher was aware of a trademark claim, the designations appear as requested by the owner of the trademark. All other product names and services identified throughout this book are used in editorial fashion only and for the benefit of such companies with no intention of infringement of the trademark. No such use, or the use of any trade name, is intended to convey endorsement or other affiliation with this book.

3 CFA 100 Success Secrets There has never been an CFA Guide like this. 100 Success Secrets is not about the ins and outs of CFA. Instead, it answers the top 100 questions that we are asked and those we come across in forums, our consultancy and education programs. It tells you exactly how to deal with those questions, with tips that have never before been offered in print. This book is also not about CFA s best practice and standards details. Instead, it introduces everything you want to know to be successful with CFA.

4 Table of Contents The Benefits of a CFA Analyst Forum...10 The 4-Step Ladder to a CFA Program...12 Where to Claim your CFA Results...14 How much Salary does a CFA Get?...15 The Best CFA Study Guide...16 CFA Study Notes: The Good it brings a candidate in CFA...17 Commencing the CFA Training...19 What is an Entry Level Financial Analyst?...20 The Job Scope of a Financial Analyst...21 Junior Financial Analyst and its Range of Salary...23 CFA Blog: A Better Way to Express your Ideas...24 Ways to Check Potential CFA Questions...25 CFA Review: The Road to Success...26 What Importance does a CFA Society Have?...28 The Effective CFA Study Material...30 Getting Prepared with the CFA Test...32 Choosing to become a CFA or CPA...33 What Career Path Does a Financial Analyst Take?...34 What is the Job Description of a Financial Analyst?...36 What is CFA and how did it evolve?...38 Certified Financial Analyst is also Chartered...39 Coverage of the CFA Level 2 Exam...41

5 What the CFA Institute Does? CFA Level 1, the First of Three series The Work of a Financial Analyst What is CFA? All about the CFA Exam Seek CFA Jobs and Employers The CFA Level 2, the Second of Three Series Jobs Available for Financial Analyst CFA Analyst: Importance of a CFA Analyst CFA Notes: Free or not, CFA Notes are a must-have CFA Study: It's better than Studying Alone Financial Analyst Salary: High Salary Grade for CFA-Holders. 59 Schweser CFA: A Worthy Preparation Tool CFA Books: For Meticulous Reviewing CFA Resume: A good-looking Addition to One person's Resume Chartered Financial Analyst: Big Brother in Investments ICFAI-CFA: For the needs of the Indian Financial Market Senior Financial Analyst: CFA can Help in Being Accepted in this Job Financial Calculator A Must-have at the CFA Exams CFA Certification On Demand The Secrets to Passing CFA Exams CFA Level 1 Exam A Preview... 72

6 CFA Level II Exam A Preview...73 CFA Level 3 Exam A Preview...74 Pointers to Successfully Pass CFA Exam Level I...75 CFA Getting to Know the Different Types of Financial Analysts...77 CFA Courses Offered by Kaplan...79 The Importance of Acquiring CFA Designation...80 CFA Career Are you In or Out?...82 CFA as CAT Fancier s Association...84 CFA Curriculum An Important Element of CFA Certification85 Get Answers to FAQs through CFA Discussion Forums...87 CFA Preparation Inching your Way to a Much-Anticipated CFA Designation...89 CFA Job On Becoming a Financial Analyst...91 CFA or MBA Which is Better?...93 CFA Study Materials Online or Classroom?...94 Maximize Studying Time using CFA Exam Materials...95 Attending Classes for CFA Exam Success...96 The Benefits of the CFA Bookstore Website...97 The CFA Charter: The Financial Analyst's Seal of Excellence...98 CFA Discussions Lead to Productive Exchanges of Ideas...99 A CFA Examination is Never Easy CFA Forums Make for Additional Support Systems for CFA Candidates...102

7 CFA Harvard: Three of Harvard's Finest CFAs History of the CFA Institute All About the CFA Level 2 Exams Outlining the CFA Level III Exam Hot off the Press News and Tidbits Regarding CFA CFA Work Piling Up on You? Here's What To Do Yes, a CFA Qualification Really Does Have Perks Basic Requirements of CFA Looking into the CFA's Salary Great Ways to Work With Your CFA Study Materials Head to Head: CFA Versus MBA A Wiki Navigation of the CFA Topic It Pays to Enroll in a Financial Analyst Course What It Means to Have a Financial Analyst Position Easy Access Jobs for CFA Holders A CFA Candidate Must Face a Tough Challenge from CFA A CFA Charterholder's Grass is Greenest on His Side CFA Exam Dates: Days to Remember CFA Exam Results: Know What to Aim For CFA from ICFAI: Especially Customized for the Financial Sector of India Knowing More About the CFA Institute The Establishment of the CFA Institute in India Get To Notch Results in CFA Level

8 Getting In Depth About CFA Level One Serious Matters Regarding the CFA Passing Rates First Look at the CFA Program Some Important Notes about CFA Registration Some Insights into the State of CFA Results The Great Thing About CFA Sample Exams A Quick Peek into the CFA Syllabus Content Usefulness of the CFA Website To Be or Not to Be... a Chartered Financial Analyst The Handy Financial Analyst Journal Figures About the International CFA What is a CFA: Shedding Light on the CFA...140

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10 10 The Benefits of a CFA Analyst Forum If you want to learn more about what is happening in the industry of financial analysis, then the Chartered Financial Analyst forum may be the best avenue for you to capture more information. The CFA Analysts forum is an online communication media that is of course, Internet-based, that cater in the dissemination of information that concerns the financial sector of the country. The experts and professionals in financial analysis are primarily the ones that create and feed in all the information in the forum. You need not become a financial analyst in order to access this forum site. Any individual whose interest and passion revolves around the financial sector is very much welcome to access and contribute in the forum site. Primarily, the CFA Analyst Forum is beneficial to everyone in the following areas: a. The forum is containing relevant and up-to-date information about the current issues and trends that directly or indirectly impact the finance sector. b. The forum may contain a comment box that allows the user or any member to share his opinion and feedback about what the forum site contains. This will enable the participation of everyone in the site. It shall also allow the exchange of ideas and concepts from diverse people. c. The forum site is the best avenue for all finance enthusiasts to capture the opinions of the experts without having to pay a professional fee. This is going to be good for enterprising financial people who are seeking for free advice and opinions.

11 11 The forum site is a better alternative for people to learn and be educated. The accessibility of it to a lot of people makes it a potent avenue for learners.

12 12 The 4-Step Ladder to a CFA Program In 1963, almost 300 senior financial analysts have sat to take the first ever Chartered Financial Analysts test. More than 40 years after its maiden examination, now it has recorded almost a hundred thousand hopefuls from about 170 countries all over the world who have partaken in the CFA examination. The CFA program concept was first conceived and came to be known in the year 1943 when business tycoon, Benjamin Graham thought of the need for a designation that financial analysts must possess. It took more than a decade for this concept to materialize. In 1959, the National Federation of Financial Analysts Societies or NFFA agreed to establish the Institute for Chartered Financial Analysts, the body which will provide and regulate the certification of competence skills for financial analysts. The ladder towards earning the program was then formalized. First, a candidate will need to find out first what CFA program is all about. As a candidate, you will need to gather all relevant information about what the program encompasses; what importance it brings to you as a professional; what sort of benefits the program entails; and the opportunities that it can guarantee you as a charter holder. Second, check out if the program fits you. There may be a lot of hopefuls to become a chartered holder, but not everyone is fitting to become certified. If you have the right skills necessary to be successful in this field then it is for you. If you are planning a career in the field of investment then this may be the right path to take.

13 13 Third, you will need to assess how much it will take you to complete the program. You may want to properly review the costs and expenses to incur. After which, you may want to examine if the schedules fit your own schedule. Fourth, engage into signing up. You may want to visit some online sites to sign up.

14 14 Where to Claim your CFA Results In every examination process, there is always a fiasco whenever the examination results come out. Probably, the reason for all these fiascos is because CFA thing is such a huge activity and that becoming a certified CFA is such a big leap in any examinee s career. For this reason, the Chartered Financial Analysts Examination Results are being announced in these forms: CFA Results are released and announced via the Internet meaning, online and never that these are released via the cellular phone or home phone. So, when someone calls you and informs you that you have passed or failed the CFA test, always think that it is a scam and is not true. In addition, CFA results are never disclosed on a third party. The CFA result is only handed over to the candidate and to him alone. Therefore, if you are going to ask someone to secure the result on your behalf, that will not be an allowed action. The Chartered Financial Analysts Institute has some designated organizations that will hold the summary of test result. From there, the candidate can then claim their test result. There is a score table that the institute is using when releasing the test results. No actual scores will be released to any candidate. The indicator will be the only thing that any candidate will see on the matrix. These methods in knowing the test results have been quite effective in reducing fiasco activities. This may take a long time to have it perfected but knowing that all precautionary measures are being undertaken to safe keep and protect the integrity of the test results would be a thing to hold on to.