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The CFA ® Program and Designation

The CFA ® Program and Designation. The CFA Designation: The Basics. Established in 1962 CFA Program is a graduate level Administered by the CFA Institute It tells clients, employers, and colleagues that the

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The CFA ® Program and Designation

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  1. The CFA® Program and Designation

  2. The CFA Designation: The Basics • Established in 1962 • CFA Program is a graduate level • Administered by the CFA Institute • It tells clients, employers, and colleagues that the • charterholder has mastered a rigorous curriculum covering a broad range of investment topics and is committed to the highest ethical standards in the profession • Number of current CFA charterholders worldwide (more than 145 countries ): 69,112 as of June 2006

  3. CFA Candidate Growth (2006) Source: CFA Institute

  4. Candidate Geographic Profile (2006)

  5. Charterholder Occupation (2006)

  6. Charterholder Employers

  7. Bank of America Corporation Citigroup ABN Amro Deutsche Bank Allianz AG The Goldman Sachs Group Barclays Group JPMorgan Chase & Co Merrill Lynch & Co., Inc. Mellon Financial Corporation TD Bank Financial Group Morgan Stanley PricewaterhouseCoopers Royal Bank of Canada Credit Suisse Group Fidelity Investments CIBC ING Groep N.V. Citigroup Lehman Brothers HSBC Merrill Lynch & Co Marsh & McLennan Companies, Inc. Scotiabank Group Wachovia Corporation UBS BMO Financial Group Top Employers of CFA charterholders

  8. How Can it help a Career in financial markets “Becoming a CFA is now a passport for excellence and international mobility.” Financial Times “The Chartered Financial Analyst (CFA) qualification is roughly equivalent to a specialized postgraduate finance degree… Whereas there are tens of thousands of finance degrees available around the world, ranging from excellent to the worthless, there is only one CFA.” The Economist “The CFA Program was essential to my preparation for a career in the financial markets.” Abby Joseph Cohen, CFA Managing Director, Goldman Sachs & Co.

  9. Charterholder Requirements • Must haveBachelors Degreeby December of exam year • Completion of all 3 Levels of Exam, sequentially • Relevant work experience as an investment professional • Must apply for membershipin CFAI and an CFAI Member society/ Chapter • Must meet professional conduct requirements • Sponsorship will ultimately be required

  10. Exam Structure

  11. Approximate Breakdown of Topics The Level I study program emphasizes tools and inputs andincludes an introduction to asset valuation and portfolio management The Level II study program emphasizes asset valuation and includes applicationsof the tools and inputs in asset valuation The Level I study program emphasizes tools and inputs and includes an introduction to asset valuation and portfolio management.

  12. Approximate Breakdown of Topics The Level I study program emphasizes tools and inputs andincludes an introduction to asset valuation and portfolio management The Level II study program emphasizes asset valuation and includes applicationsof the tools and inputs in asset valuation The Level II study program emphasizes asset valuation and includes applications of the tools and inputs in asset valuation.

  13. Approximate Breakdown of Topics The Level I study program emphasizes tools and inputs andincludes an introduction to asset valuation and portfolio management The Level II study program emphasizes asset valuation and includes applicationsof the tools and inputs in asset valuation The Level III study program emphasizes portfolio management and includes strategies for applying the tools, inputs, and asset valuation models in managing equity, fixed income, derivatives, and alternative investments.

  14. Not a Walk in the Park • CFA Institute recommends 10-15 hrs/week over 18 weeks, and a minimum of 250 hours for each exam • ~ 1500 Learning Outcome Statements (LOS), specific subtopics that compose the core of the program and the basis for all exam questions • To succeed, you need to master the curriculum, not seek shortcuts and gimmicks

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