The Chartered Financial Analysts designation, and the CFA designation follow a standardized process, which requires you to pass two exams. A third CFA exam is necessary in order to become a CFA-K credential. Adults who are new to the CFA industry should take the CFA-I exam before undertaking the CFA-K. Those who have had previous CFA training should consult with their firm’s CFA instructor to determine which CFA course they need to take to qualify for the CFA-K.
Individuals that are serious about their financial performance should seriously consider whether a CFA is necessary to their wealth management. Many financial experts agree that the CFA credential is the most effective tool to prepare financially intelligent individuals.
How does the CFA curriculum and other education elements differ from an ACT / RPL?
The CFA curriculum is based on the theories and principles of various accounting disciplines. The CFA exam tests these theories using four key areas, which are: Accounting and Reporting, Auditing and Attestation, Risk and Valuation and Business Environment and Concepts.
The CFA exam is open to any individual who has a minimum qualification of a bachelor’s degree, who chooses to become a financial advisor after completing a four-year course of study at a post-secondary college of study, or who wants to specialize in a particular area of accounting.
Who is eligible to take the CFA?
– Any individual who has a passport and has lived in the USA since May 23, 1975.
– Full-time students enrolled in a accredited institution with a grade of C or better.
– Apprentices enrolled in a four-year program of study at a post-secondary college of study, or studying to obtain a higher degree in any discipline other than accounting.
– Outside students who are requested by an employer to enroll in a course of study at a post-secondary institution of national importance, or studying to pursue a course of study in a specialized area of accounting.
What skills and knowledge do students need to obtain the CFA designation?
The CFA credential is comprised of a mixture of both theory and practical modules. A student of the CFA Program must be able to understand the financial statements, analysts’ reports, financial instruments, and business financials thoroughly. A person should also be able to calculate and use properly amounts of money, evaluate the streams of income and expenses he or she undergoes on a daily basis, and become a expert in cash flow and accounting.
This CFA credential is the necessary credential for anyone who wants to pursue a career in the field of accounting, finance, and information technology.
How long is the CFA exam?
The CFA exam is divided into two examinations. The first exam is comprised of 200 questions and the second exam is of 120 questions.
Each exam has a different time limit. The CFA exam has a time limit of 120 and the ATMA exam has a time limit of 175.
What is the format of the CFA?
The CFA exam is divided into four separate categories which correspond to the four areas of knowledge required by Chartered Financial Analysts:
A disadvantage of the CFA exam is that it is not possible to replace theoretical lectures with testing simulations. However, since the CFA exams are computer-based, the exam paper can be downloaded online, reviewed, and completed by the students at their own convenience.
What is the role of a CFA?
A Chartered Financial Analyst is the examrator that reviews your CFA diploma for a second time after you have passed the exam. Because of the thoroughness of the CFA course, the CFA candidates will be expected to have thorough knowledge of accounting principles, financial reporting, and apply those principles in different work environments.
After graduating the CFA course, the student will be given the CFA exam in order to obtain the CFA designation.
Why is the CFA course so valuable?
The CFA course offers students a variety of benefits, which will help them succeeding in their chosen field of endeavour.
– A lifetime of work- While most people in the finance field will stick to a job for a few years, a CFA candidate will outcome to be much successful, for example opening his own fund or working as a consultant.
– A significant increase in salary- How much a CFA candidate will earn in a year depends on a variety of factors, such as the country in which he works and the country in which he lives. While a candidate takes his first CFA exam from the Institute for Financial Management and Information Technology, he is likely to earn a good salary once he eventually moves to a western country.