The Chartered Financial Analyst (CFA),   What's in it  Qualification

Chartered Financial Analyst (CFA) is an international professional qualification/ designation for finance and investment professionals, particularly in the fields of investment management, investment banking and financial analysis of stocks, bonds and their derivative assets. It is conferred by the CFA Institute of USA to financial analysts who complete a series of three examinations. The program focuses on portfolio management and financial analysis, and provides a general knowledge of other areas of finance.

The Chartered Financial Analyst (CFA) designation is regarded by most to be the key certification by financial professionals. It is essential in the areas of financial and hedge fund research, portfolio management, investment consulting, investment banking, and research within academic institutions. The Chartered Financial Analyst (CFA) Program has even been ranked by The Economist as the "gold standard" among investment analysis designations. The CFA qualification is a best international qualification for those pursuing careers in investments analysis, risk analysis, financial institutions, insurance, etc.

The holder of the CFA charter internationally recognized as having the skills and knowledge to work in financial services and investment positions around the world. The program is comprised of three levels, Level I, Level II and Level III. Each candidate is expected to study at least 250 hours per level, with substantially more, depending on the level of the individual.

Entry Requirements

First Degree in Accounting & Finance or business related degree. 
Sectors you can work in
The flexibility of the ACCA Qualification means that it doesn’t limit you to one particular sector. As an ACCA member, you will have the opportunity of working in any sector you choose, be it public practice, public sector, financial services or corporate sector, giving you access to a broad range of complex and interesting roles. Job Opportunities for a Financial Analyst include Investment Analysts, Adviser & Manager, Consultant, Business Analyst, Stock Broker, Risks Manager etc
Syllabus
The CFA® Program is a post-graduate program for investment specialists. It is mainly aimed at individuals who practice as investment managers, advisors or specialists.

The CFA curriculum, known as the Candidate Body of Knowledge, covers 10 general topic areas ranging from equity and fixed income analysis to portfolio management to corporate finance.

A qualified CFA charterholder would have covered a curriculum that includes a wide range of investment topics. A charterholder would also have proven their commitment to the highest of ethical standards in the investment profession.

The CFA designation are internationally recognised and will open many doors to its holder by helping to advance their career within the investment profession.

The CFA examinable syllabus is divided into three levels

Level I
Level I of the CFA® Program concentrates on the tools and concepts that apply to investment valuation and management. It also includes an overview of the process of asset valuation and portfolio management, and emphasizes CFA Institute Code of Ethics and Standards of Professional Conduct and the basic concepts regarding securities laws and regulations.

You are expected to develop an understanding of:

•  Corporate Finance
•  Financial Statement Analysis
•  Macro- and Micro-economics
•  Quantitative Methods of Investment Analysis and Management
•  Financial Markets and Instruments

Level II

Level II of the CFA® Program focuses on asset valuation.

It concentrates on applying the tools and concepts introduced at Level I both to analyze and value investments and to develop a comprehensive understanding of industry and company analysis.

You are expected to develop the ability to:

•  Estimate expected investment return and risk
•  Apply the CFA Institute Code of Ethics and Standards of Professional Conduct in practical situations
•  Estimate expected investment return and risk
•  Analyze specific equity and fixed income securities and other investments
•  Compare alternative investment choices and make investment recommendations

Level III
This third level of the CFA® Program requires candidates to show a working knowledge of the entire portfolio management process, including the ability to apply the concepts learned at Levels 1 and 2 to the portfolio management process.

You are expected to develop a thorough understanding of:

•  The CFA Institute Code of Ethics and Standards of Professional Conduct from an organizational and compliance perspective
•  Performance presentation standards and measurement techniques

CFA Program Curriculum and Content
The CFA Program is based on the knowledge identified by professionals as essential to the investment decision-making process. Knowledge and skills are accumulated and tested in three sequential levels. The same list of ten topics is covered in each level and is based on the CFA Institute's ‘Candidate Body of Knowledge':

• Ethical and Professional Standards
• Quantitative Methods
• Economics
• Financial Reporting and Analysis
• Corporate Finance
• Equity Investments
• Fixed Income
• Derivatives
• Alternative Investments
• Portfolio Management and Wealth Planning

Topics and Emphasis by Level

• CFA Level I: -    Knowledge and comprehension of fundamental investment tools and concepts
• CFA Level II: -   Application and analysis focused on asset valuation
• CFA Level III: -   Synthesis and evaluation of client needs and portfolio management issues                                                                            Note that Ethical and professional standards are emphasized at every level.

Approximate Percentage Breakdown of Topic Areas by Level*

* Percentages are average approximations of the actual topic weights for exam purposes, which have a range of target weights. Actual content of future exams may vary.
CFA Level I Exam

This is the first of three exams offered by the CFA Institute. This exam (in addition to other requirements) must be passed for an individual to become a CFA charter holder. The CFA program is a globally recognized standard for measuring the competence and integrity of financial analysts. Level I focuses on tools and concepts that apply to investment valuation and management.

Exam Information

Additional Exam Details

CFA Level II Exam

This is the second of three exams offered by the CFA Institute. This exam (in addition to other requirements) must be passed for an individual to become a CFA charter holder. The CFA Program is a globally recognized standard for measuring the competence and integrity of financial analysts. Level II deals mainly with asset valuation. You must be able to apply the tools and concepts emphasized in Level I to analyze and value investments, and should also have a thorough understanding of capital market theory and industry and company analysis.

Exam Information

The multiple choice portion of the Level II exam consists of item-set type questions. For these item sets, a series of six multiple choice questions are asked on a short case.



CFA Level III Exam

This is the last of three exams offered by the CFA Institute. This exam (in addition to other requirements) must be passed for an individual to become a CFA charter holder. The CFA Program is a globally recognized standard for measuring the competence and integrity of financial analysts. Level III explores portfolio management in great depth. You must demonstrate a working knowledge of the portfolio management process, from calculating investor constraints, objectives, and capital-market expectations to making asset-allocation decisions.

Exam Information