Sunday, May 6, 2012

The importance of holding the CFA (Chartered Financial Analyst)

What is the CFA: CFA stands for "Chartered Financial Analyst", this test is a must to start a financial career,  it is widely recognized all around the world and certifies that you have in-depth knowledge of investment and the quantitative methodologies for analyzing the different types of securities, debt instruments aswell as the valuation methods and how to identify their underlying risks (systematic risk and unsystematic risk).

 Earning a CFA: there are 3 levels, you also must meet some ethical and professional requirements.  The time required to study for the CFA will highly depend on your educational background, experience and  knowledge, you should study at least 250 hours before each level.
You must also have at least a Bachelor's degree or equivalent

 Difficulty of CFA Exams: According to the CFA institute, on average 35% of the candidates pass the level 1, and about 50% passe the level 2 and 3.

Why Get a CFA: The CFA has been required by most of the major investment banks for senior positions and investment management, but recently even when it is not demanded most of the firms will see a candidate with the CFA as more credible and trustworthy.
In Europe and America most of the CFA charter holders already have a master degree or a MBA, but
in regions such as Asia-Pacific and Africa,  many people will pursue a CFA instead of a costly MBA.
Over the past decades CFA charter holders have increased exponentially, from 15 500 in 1987 to 59 750 in 2002 and almost 100 000 in 2007.

Tips to prepare the CFA

More details on the CFA are on the CFA Institute website.


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Thanks for sharing such information, kindly do add more such interesting posts.

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