How do I become a Chartered Financial Analyst in 3 Steps

The CFA charter is offered by the CFA Institute to finance and investment professionals. The certification is often considered to be one of the most prestigious ones in the field of finance globally. If you want to enter into the world of finance like equity research, IB analyst, risk management, then taking CFA exam would provide a big credibility to your profile.

To become a Chartered Financial Analyst, you must have follow some processes that mentioned here.

There is a 3 step process to become a Chartered Financial Analyst:

  • Enter the CFA® Program
  • Pass the three levels of Exam
  • Get CFA® institute membership

Enter the CFA® Program:

To enroll for the CFA® Program and register for your first level of exam, you must have one of the following criteria:

Education: A bachelor’s degree or be in final year of any bachelor’s degree is needed to pass all the levels of CFA® exam.

Work Experience: Four years of Professional work experience

Now the question is what kind professionals can become CFA. What kind of work experience is required to get the CFA institute membership is the main concern in your mind right now.

As per CFA institute, there are limited professionals who can become CFA:

  • You have at least 4 years (48 months) of experience in the field of investment
  • Any type of decision-making process; supervising persons who conduct such activities; or teaching such activities related to investment will be eligible for CFA membership
  • Operations in big investment banks, deals with processing of the trades and record it in Accounting Systems will be eligible as well
  • As per CFA institute, trading, economics and corporate finance such type of fields are also acceptable as your working experience
  • Minimum 50% of your 4 years of working experience should be spent directly involved in the investment decision-making process
  • Work must be full time and can be earned before, during, or after participation in the CFA Program
  • Managing investments for yourself or your family or friends does not eligible

Combination of Education and Experience: 4 years in addition of education and work experience in total to passing the Level I CFA® exam.

Pass three levels of CFA® Exam:

CFA exams are world known finest finance exams, which test you on your core financial and technical knowledge. To get CFA charter, you have to pass the all the levels of CFA® exam such as; Level 1, Level 2 and Level 3. All the exams are held in the month of June and CFA® level 1 exam held in the month of December as well.

CFA exam syllabus: Main Subjects and topics of CFA® exam are include Ethical and Professional Standard, Economics, Equity Investments, Fixed Income, Portfolio Management etc.

CFA Pass rates: According to historical data average pass rate of CFA exam is about 48%
CFA Level 1 Pass rate
CFA Level 2 Pass rate
CFA level 3 Pass rate

Membership process to become CFA®:

One of the most important part to become CFA® charter holder is to get membership of CFA® Institute. The CFA® Institute offers two categories of membership, namely, regular and affiliate.

Regular Membership:

The CFA candidates who enroll for the CFA program and pass CFA Level 1 exam must submit a regular membership application. Following are the processes to get Regular Membership.

  • Have a bachelor’s (or equivalent) degree from a recognized institution
  • Pass the CFA Level 1 exam or pass the self-administered Standards of Practice Examination
  • Have a relevant professional work experience of 48 months in investment decision making process.
  • Submit professional reference statements.
  • Sign the Member’s Agreement and agree to follow the Professional Conduct Statement
  • Pay your annual dues
  • Must follow the OFAC Compliance Policy. Residents of certain countries may be prohibited by law from becoming a CFA Institute or Society Member.

Affiliate Membership:

The affiliate membership application should be submitted by those who are investment professionals. If you apply for affiliate membership you are not required to enroll for the CFA program and can pursue CFA Charter holder.

  • Become a member of a local CFA society
  • Submit professional reference statements.
  • Sign the Member’s Agreement and agree to follow the Professional Conduct Statement
  • Pay your annual dues
  • Must follow the OFAC Compliance Policy. Residents of certain countries may be prohibited by law from becoming a CFA Institute or Society Member.
  • The applicants can track their applications using the link ‘My Account’ on the applicant’s home page
  • Once your online application is completed with all the details, you will receive an e-mail. This email contains a link to an online form. You can forward this e-mail to each of your sponsors
  • The sponsors must complete the online form. The requirements of a sponsor are also mentioned in the e-mail. The applicants can track their applications using the link ‘My Account’ on the applicant’s home page
  • On the approval of the application by a society, an automated e-mail is sent to the applicant confirming the status. The applicant is accordingly instructed for membership activation
  • The applicants are required to pay their dues and file a Professional Conduct Statement/Member’s Agreement during the Activation stage to activate their membership

The benefits of an affiliate membership and regular membership are same, but the affiliate members cannot be awarded a CFA Charter and may not cast their votes on CFA institute Proxies. Society membership is must to become an affiliate member of the CFA Institute.

CFA institute Code of Ethics and standards to become CFA:

The Code of Ethics and Standards of Professional Conduct are the moral principles for investment professionals around the world. As a CFA Institute member or CFA Program candidate, you are required to follow the Code and Standards. All CFA Institute members and CFA candidates must abide by the Code and Standards and are encouraged to notify their employer of this responsibility.

PDF of Code of Ethics and Standards of Professional Conduct.

On the internet you can find plenty of tips that will help you in making the CFA exam preparation easier. It is important that you plan a strategy for each level as each one of them is different from one another. If you have already made the decision of going for CFA Program and are looking for a CFA Course training ,then EduPristine is a great option as we are CFA Institute authorized training providers

If you have any other queries then mention them in the comments box below and it shall be solved at the earliest.

CFA Level 1 pass rate trends

The CFA Institute had started conducting the Level 1 exams twice a year from 2003, and since then it has been noticed that there are as many candidates for the June attempt as there are for the December attempt. CFA level 1 exam has picked up speed and is now widespread, being taken by thousands of candidates per year. The June and December sessions have attracted more candidates and hold similar yet different pass rates and candidates enrolment.

CFA Level 1: June (2010-2016)

The CFA level 1 exam conducted in June had witnessed a rising trend from 2010 to 2012 where it was at the peak and then falling down. The enrolment has significantly increased from earlier times and seems to keep increasing. The number of candidates appearing for June Level 1 is almost the same as the number of enrolment before the CFA Institute held two exam sessions per year.

CFA Level 1 pass rates

The CFA pass rates for level 1 exams held in June have seen a somewhat constant rate shifting by 1-2 %. It has declined since the olden times but that can be justified with the fact that there are higher numbers of candidates taking these exams now. Candidates are striving to clear the first level in the very first attempt. There has been a motivation and seeing the rates reach 42% has motivated other candidates as well.

CFA Level 1 pass rates

CFA Level 1: December (2010-2016)

The number of students enrolling in December is almost similar to number of students appearing in June. The gap provided by the CFA Institute i.e. of six months has helped the candidates who did not clear the exam in their June attempt to prepare well and clear it in the December attempt. The graph below clearly depicts how there has been an increasing trend in the number of CFA candidates. It has gone as high as 59,000 students in one session.

CFA Level 1 pass rates

The pass rates for the December attempt has also seen a rise and in most cases is similar to the June attempt. The last two years have seen a higher pass rate in December when compared to the June attempt. The pass rate has seen an increasing trend with a little bump in 2013. With pass rates reaching around 45% has brought hope in the candidates who take up the exams. It’s not long before they hit the 50% bar.

CFA Level 1 pass rates

CFA Level 1: June and December Combined

The CFA Level 1 pass rates do seem to fall and droops at places but has seen an upward trend in the long run. The 2014 December exam has seen the highest pass rate clearly depicting that candidates are striving to clear the CFA Level 1 in their very first attempt.  The exams are not very difficult, don’t get discouraged with the pass rates if you put in the right amount of effort you will pass the exams easily.

CFA Level 1 pass rates

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Myth buster : The passing rate for both the June and December exams is similar. None of them show a significantly higher rate. Visit the CFA myth buster’s page to clear all your doubts about CFA.

Prepare well for your CFA exams; you can reach out for help and training by enrolling with EduPristine. All the Best!

CFA® EXAM DATES: December 2017

What is CFA®?

The Chartered Financial Analyst (CFA®) has become the most globally recognized Finance certification. CFA® program was first introduced in 1963 and conducted by the USA CFA® institute. CFA® exam is a graduate level program and there are commonly three exam referred as CFA® level I exam, Level II exam, and Level III exam. Before applying for the CFA® program, aspirants must be in the final year of their bachelor’s degree or alternatively have 4 years of experience.

CFA® Exam Calendar Dec 2017-18

Have you been planning about appearing for the CFA® exam December 2017? Well, before you start your preparation for the CFA® Level I Exam Dec 2017, it is necessary to be updated about the CFA® exam registration process, test centers, syllabus, ticket available date and exam date for CFA® Level I Exam December 2017.

CFA® Exam Level I December 2017

Enrollment & Registration Fees for CFA® Exam Dec 2017-18

The one-time enrollment fees for the CFA® Exam December 2017 is $450.
The CFA® registration fees should be paid before the deadline of early registration as the fees after that is much higher.

 

STAGES

FEE(US$)

FEE(INR) (when 1US $=INR 67)

Early Registration Fee

650

43,813

Standard Registration Fee

930

62,686

Late Registration Fee

1,380

93,018

 

CFA® Exam Dec 2017-2018 registration fee covers:

Note: To purchase the printed version of the CFA® December 2017 curriculum, you need to pay non-refundable amount of US$150 + Fees associated with shipping.

CFA® December 2017 – 2018 Exam Dates: (Level I only)

December 2017 Exam dates that you surely want to add on Google calendar and reminder lists.

25 January 2017

Registrations open

Upon registration

Topic tests are available

15 March 2017

Early registration fee deadline

15 August 2017

Mock exams become available

16 August 2017

Awareness scholarship application deadline

1 September 2017

Standard registration fee deadline

13 September 2017

Late registration fee deadline

18 September 2017

Final deadline for disability and religious alternate date accommodation requests to be received by CFA® Institute

9 October 2017

Test center change request deadline

November 2017

Exam tickets availability

2 December 2017

Exam day

December 2017 – January 2018

Exams graded

January 2018

Exam Results

CFA® December 2017 Exam Training:

EduPristine provides CFA® classroom training as well as CFA® online training to help you clear your CFA® Level I December 2017 in the first attempt. To prepare for the exam, EduPristine follows the guidelines of CFA institutes. You will get trained by the top notch faculty, get access to Mock tests, Question Bank, Mind Maps, CFA® online training, recording, support and revision course within the time frame.

CFA® Program vs FRM Certification : Battle of Financial Certifications

CFA® Program vs FRM

For all the students going for International Finance Certifications, it is the most common point of debate whether to go for CFA® Program or FRM or both. Both certifications have international recognition and offer a wide range of enriching and rewarding career prospects. This is where the question arises “CFA vs FRM: Which certification to go for?”

It is very crucial for students to choose the right certification as for both certifications they have to put a lot of money, dedicate all their time and study rigorously. This all shouldn’t go as a waste. Moreover, they have to live with the career they choose and few years down the line they shouldn’t regret their choice. To an informed person, there might be a world of difference between these two certifications, but to a novice there is very little difference.

Let’s take a look at both of these certifications, their scope as a career and their prospects.

CFA® Program

The Chartered Financial Analyst® designation was originally intended for equity analysts working in the investment banking sector. Over a period of time (since its inception in 1963), its scope and importance has been recognized to the level where the CFA® Program now is often compared to Masters in Business Administration (MBA).

It has become one of the de-facto certifications that a professional graduate goes for when trying to target some specific positions in the investment and banking industry.

Career Prospects and Roles as a CFA® charterholder:

  • Portfolio Managers
  • Fund Managers
  • Risk Managers
  • Financial advisers
  • Private bankers
  • Consultant
  • Research Analysts
  • Accountants
  • Chief Executives
  • Auditors
  • Hedge fund Research
  • Investment Banking
  • Investment Management
  • Relationship Manager

Eligibility Criteria for CFA® exam:

  • A bachelor’s (or equivalent) degree or be in the final year of your bachelor’s degree program
  • Four years of professional work experience (does not have to be investment related)
  • A combination of professional work experience and education that totals at least four years (part time experience not counted)

FRM Certification

The Financial Risk Manager (FRM®) certification was originally intended for candidates who wanted to pursue the profession of a risk manager in financial institutions.

With increasing business competition and rapid changes in the finance industry, businesses require professionals who can manage risk, money and investment efficiently. This has raised the importance of Financial Risk Management and thus given this certification a recognition which it deserves.

Career Prospects and Roles as an FRM charterholder:

  • Chief Risk Officer
  • Senior Risk Analyst
  • Head of Operational Risk
  • Director
  • Investment Risk Management

Eligibility Criteria for FRM exam:

  • No educational or professional pre-requisites required to sit for either part of the FRM Exams
  • Minimum of two years of full-time professional experience required in risk-related profile

FRM Certification vs CFA® Program comparative analysis

The course contents of FRM and CFA® Program also vary a lot from each other. The CFA® Program covers more on financial analysis, ethics, asset valuation and portfolio management, whereas FRM covers more topics on risk, valuation at risk, models of risk, credit risk and so on. There is some common overlap between these two courses which are areas like credit derivatives, hedge funds, fixed income, basic statistics, risk/return metrics and correlation.

NOTE: The areas which do not overlap are as diverse as the careers they cater to.

Head-to-Head comparison:

FRM Certification
CFA® Program
Conducted by
GARP
CFA® Program
Exam Parts
FRM Part 1
FRM Part 2
CFA® level I
CFA Level II
CFA Level III
Fee (indicative and overall)
FRM Part 1 – $650 to $950
FRM Part 2 – $350 to $650
CFA® Level I – $1080 – $1660
CFA® Level II – $1070 to $1650
CFA® Level III – $1060 to $1610
Pass rate (Approximate)
40% to 45%
35% to 42%
Exam Months
May/Nov
June/Dec
Relevant For Candidates looking for jobs in
Banking, Risk Management, Financial Institutes
Research, KPO, Investment banking
Course Stucture:
Emphasis on
Quants,derivatives, Portfolio Management,
Market Risk, value at Risk, Credit Risk, Operation Risk & Basel
Quants, FSA, Ethics,
Economics, Corporate Finance, Equity, Fixed Income
Kind of Qustions Asked
Multiple choice questions
Multiple choice questions
FRM vs CFA® Salary (Average)
US – $70,000
India – INR 5,00,000
US – $75,000
India – INR 6,00,000
EduPristine Official Course Provider
CFA® Program Course Page
FRM Certification Course Page

Seeing the overwhelming response on this topic, we have created a video. Check it out!

Authorized by CFA Instititute and GARP for CFA® Program and FRM respectively, EduPristine provides the best online and classroom training for these courses

We hope this comparative analysis will help you in choosing the right career for yourself. In case of any queries or doubts about these certifications, feel free to comment below.

All that you want to know about CFA® Program

CFA® certification information

What is CFA® course?

A time when educational certification in major subjects is no longer an option but a mandatory document to further one’s career, Chartered Financial Analyst® designation can come as a sigh of relief for everyone interested in the Finance field. A post Graduate Degree in Finance like CFA® Program can be your golden ticket to land in a high paying job. Unlike MBA, that only covers general aspects of management and business, CFA® Program stresses more on Finance aspect.

CFA® course details:

CFA® Program is a professional credential offered by CFA Institute to Investment and Financial professionals. After completing and passing the CFA® Program one will bridge academic theory,assess current industry practice, and learn ethical and professional standards to provide a strong foundation of advanced investment analysis and real-world portfolio management skills.

Who can do CFA® Program?

You are eligible if you are in the final year of your bachelor’s program or already have a bachelor’s degree, or have professional working experience that totals up to 4 years. Below is the CFA® eligibility criteria course in India.

  • Current MBA students/MBA aspirants
  • B Com / M Com students
  • CA aspirants
  • IT professionals

What is CFA® Program about?

This program helps you specialize in a broad range of investment specialties that can be applied in any market worldwide. CFA® Program is wide-ranging curriculum that will expose you to investment principles for you to meet the professional requirements of any work place. The level of competence and integrity of a Finance professional today is measurable by a definitive standard like CFA® Program.

CFA® Course Duration:

To earn a CFA® charter, one has to give a series of sequential exams Level I, Level II, and Level III. The minimum duration to clear all three exams takes about 2 years.

Benefits of the CFA® Certification:

Today CFA® course in India is considered as the highest standard of professional excellence. If you are someone who wishes to get placed in elite company like Big Fours, then all it would take is passing the rigorous exams and confirming your mastery. This certification ensures that you are equipped with hands-on knowledge in the investment industry. To build remarkable reputation among your clients, employers or colleagues, you have to commit to ethical behavior and proficiency at work. Therefore, being a CFA charter will uplift your credibility in the eyes of clients and colleagues.

Benefits from a Company Prospective:

Companies are on the lookout for people who are infused with asset-management skills, can formulate investment strategies and perform investment analysis. No wonder why CFA® course in India is in demand. Since MBA’s are only exposed to non-financial subjects like marketing, human resources, organizational behavior and others, lack of financial planning has become a great concern. In order to fill that gap, CFA® Program came up with comprehensive and exhaustive exams dedicated to prepare individuals entirely to carve a Finance Career path.

Other Benefits are:

  • Credibility:

    There is nothing like being highly regarded as expert in the world of Finance. Get recognized throughout the world while you join a network of 100,000 investment professionals.

  • Global Recognition:

    CFA® Program has a six-decade history which is why they are accepted globally. CFA® charterholder can look for jobs across markets, for example, a CFA® charter earned in Asia can be recognized by employers in Europe.

  • Respect:

    Chartered Financial Analyst® designation is touted as one of the most respected certification amongst the employers in India.

Job Roles after CFA® course in India:

Everyone who is already in Finance field or wishing to switch their careers can choose from a myriad of job roles like as follows:

  • Portfolio managers
  • Private bankers
  • Fund of fund managers
  • Financial advisor
  • Relationship manager
  • Financial strategists.

MBA’s and CA’s can join CFA to get into core investment banking jobs.

CFA® salary expectations:

Acquiring a CFA® charter will help you draw more salary than your uncertified peers. Not only CFA® charter opens doors of opportunities for you, but also lets you benefit from high compensation.

Below is an illustration showing the salaries of employees having CFA® certification.

A CFA® charterholder at entry level can earn an annual salary of 4 lakhs. Your salary will increase as you grow. With seven to eight years in this field, your average salary can shoot up to 12 lakhs. You can earn over 19 lakhs with more than 10 years of experience under your belt.

Why EduPristine is the best Institution that you can choose?

Edupristine is a leader in Finance International Certification trainings, especially CFA® Program and it has trained over 20,000+ participants from 40+ countries. It serves a list of reputed corporate clients such as JP Morgan, Bank of America, Accenture, Mizuho Bank, E&Y and B-schools such as IIM C, IIM I, NUS Singapore, ISB Hyd, FMS etc.

Get a solid grounding foundation in Finance with EduPristine. Get training from the industry experts to get hands-on financial knowledge and expertise. We assure your resumes will remain on top of the pile and stand intense competitive fields. Enquire to know more about CFA® course details.

CFA® Study Planner

Most of the CFA® pursuers believe that CFA® Program tests are very difficult and arduous but that is not the case unless you make them difficult for yourself. CFA® level I syllabus is directed towards covering wide range of topics related to finance rather than going deep into specific topics. While CFA® aspirants can expect CFA® Level I exams in December, studying alone won’t help you to clear this exam. Planning your study schedule will prepare you to cope up with the extensive study syllabus.

CFA® level I planner

What if someone could help you with how many study hours are required every week from start of study day till the date of your exam, which topics you need to focus on as per your preparations and how much time you need to give to individual topics? Won’t that make your work easy? Well, we have made two CFA® Study planners for all the students who are preparing to appear for CFA® level I and CFA® level II.

This course planner will generate your preparation hours required for each section of CFA® Program. To download the planner, please right click on the the link and save the excel.

CFA® Level I Study Plan

CFA® Level II Study Plan

Instructions on how to use the Planner

  • Download the file
  • Fill in your details
  • The Planner worksheet will show you a suggested study schedule

We are sure that this will surely help you to plan out your studies in a better way. If you have any other doubts or require any other guidance, mention in the comments box below and we shall get back to you at the earliest.