CHARTERED FINANCIAL ANALYST (USA)
CFA (USA) The CFA qualification is the gold standard in the fields of Investment Banking and Finance. Endorsed by over130 Countries in the world, it has an annual registration of over 120,000 candidates aspiring to write the exams. The CFA is a measure of integrity and competence in the investment management field that defines an elite class of investment professionals. Revised every five years, the rigorous curriculum is current, cutting edge, and matched to the most pressing requirements of the global market.
WHY CFA? Best qualification in the field of investments Global acceptance and career opportunities Considered a Specialized MBA in the field of Finance and Investments. Exhibits high level of analytical skills, understanding of Investment Concepts Enhanced understanding of Portfolio Management and Financial Markets Instant passport to international employment and rewarding financial package.
BENEFITS OF CFA Global Recognition With a six-decade history of maintaining a rigorous focus on globally relevant investment knowledge, the CFA Program is the most widely known and respected investment credential in the world. Career Advantage Employers recognize the CFA charter as the definitive standard by which to measure the competence, integrity, and dedication of serious investment professionals.
BENEFITS OF CFA Practical Skills The CFA Program curriculum focuses on the practical knowledge and current real-world skills necessary in the global investment management profession. These skills are immediately useful on the job. Community Earning the CFA charter places you in the company of an elite group of more than 90,000 respected investment professionals. Access to their collective expertise, networks, and resources is an invaluable asset.
Eligibility for CFA Have a bachelor's (or equivalent) degree any stream or be in the final year of your bachelor's degree program at the time of registration* or have four years of professional work experience (does not have to be investment related) or have a combination of professional work and college experience that totals at least four years. Part-time positions do not qualify, and the four-year total must be accrued prior to enrollment. Understand the professional conduct requirements (you will be asked to sign the Professional Conduct Statement and Candidate Responsibility Statement) Be prepared to take the exams in English. Have a valid international travel passport (required for enrollment and exam registration)
EXAM CONTENT
EXAM CONTENT Topic Area Level I Level II Level III Ethical and Professional Standards (total) 15 10 10 Investment Tools (total) 50 30-60 0 Corporate Finance 8 5-15 0 Economics* 10 5-10 0 Financial Reporting and Analysis 20 15-25 0 Quantitative Methods 12 5-10 0 Asset Classes (total) 30 35-75 35-45 Alternative Investments 3 5-15 5-15 Derivatives 5 5-15 5-15 Equity Investments 10 20-30 5-15 Fixed Income 12 5-15 10-20 Portfolio Management and Wealth Planning (total) 5 5-15 45-55 Total 100 100 100
Exam Dates & Fees Level I exams are offered in June and December (typically on the first Saturday). Level II and III exams are offered in June only (typically on the first Saturday). Registration usually opens about 11 months before each exam; register early to take advantage of the fee schedule and to have enough time to study and prepare for the exam. Item Program Enrollment (new Level I only) December 2013 Exam (Level I only) First deadline 13 March 11:59 p.m. ET Second deadline 21 August 11:59 p.m. ET $440 $440 $530 Exam Registration $680 $780 $1,055 CurriculumeBook version Final deadline 18 September 11:59 p.m. ET save $40 save $40 save $40 Total Passed deadline $1,180 $1,545
Exam Format Level -1 The Level I exams include 240 total multiple choice questions, 120 on the morning session of the exam and 120 on the afternoon session. Each multiple choice question is free-standing (not dependent on other questions) and has three possible answers: A, B, and C. All questions are equally weighted and there is no penalty for guessing. While you are taking the Level I multiple choice exam, remember: Carefully manage your time. Don t spend too much time on any one question or topic area. On average, you should allocate 1.5 minutes to each multiple choice question, including time to record your answer on the answer sheet. Read the questions carefully. A careless skimming of the question may lead you to a completely different, and incorrect, answer. Read each item carefully and eliminate obviously incorrect answers. If you have to guess and you can eliminate one of the responses, your odds of answering the question correctly are much higher. There is no penalty for guessing.
Exam Format Level -1 Mark your answers on the answer sheet as you complete each question. Some candidates mark their answers in the exam book and wait until the end of the exam to complete the answer sheet. This is not an advisable strategy. Expect to encounter questions that you will not be able to answer correctly. There is a great deal of material to master and exam questions are challenging. Standard setters and the Board of Governors (at all three levels) take account of exam difficulty in setting Minimum Passing Scores. Examination writers use a standard set of formatting conventions on the multiple choice questions. Many sample exams produced by third parties do not follow these conventions, so review the CFA Institute format presented below.
Exam Locations Level -1 The December 2013 exam will be given on Saturday, 7 December. Test Center Locations Bangalore, India Mumbai, India New Delhi, India
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