CFA Chartered Financial Analyst The Chartered Financial Analyst (CFA) Program is a graduate-level self-study program.

. The CFA program has been designed to meet the ever-changing requirements of the financial sector - It imparts training in the fields of corporate finance, investment management and financial services. This program is fitting for executives and career-starters alike who want to develop their skills in the field of finance. Complementary/alternatively is the CAIA qualification which covers alternative investments such as hedge funds, private equity and commodity trading. The Chartered Financial Analyst Program is awarded by the CFA Institute, formerly known as the Association of Investment Management and Research (AIMR). CFA Institute is a global non-profit organization, the worlds largest association of investment professionals. It has over 100,000 members and a regional society around the world.

Area of Focus The CFA program focuses specifically on investment knowledge. The CFA qualification is selfstudy in nature, so while you continue working full time on your trade, you can still progress towards earning the CFA charter! There are lots of candidates every year who opt for CFA qualification, and these include students entering the investment field, professionals increasing their expertise and marketability, and people making a career change into the investment profession from other disciplines. The CFA Program is not an academic program, but rather one that focuses on the global investment management profession from the standpoint of a practitioner. It imparts an adequate amount of knowledge and expertise in the finance fields for professional purposes. Passing certainly proves your ability to perform at a high level. CFA provides broader professional expertise, which may help you to choose from a range of career paths and options. The CFA teaches you the basic concepts and principles in 10 major topic areas, as determined by the Candidate Body of Knowledge (CBOK).

These 10 major areas in the syllabus are:

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

The CBOK is based on panels and surveys of thousands of current investment professionals across the world. It determines the knowledge, skills, and abilities youll need to succeed in the workplace. The program has evolved greatly since its inception. The original program focused on equity security analysis in a U.S. setting and emphasized ethical and professional standards. Although equity security analysis and ethical and professional standards still occupy prominent positions in the program, importance is also given to fixed-income analysis, alternative and derivative investments, portfolio management and several other topics. It is a distance learning program that still emphasizes the highest ethical and professional standards. CFA Institute has over 100,000 members and 136 societies in 57 countries. More than half of the membership is in the United States and Canada. About 88percent of total membership holds the CFA designation. Essentials for enrollment to the Program: To qualify for enrollment in the Chartered Financial Analyst (CFA) Program you must meet all of the below requirements:

Hold a bachelors (or equivalent) degree

- or be in the last year of a bachelors degree program at the time of registration for

the CFA Exam - or have four years of relevant, professional work experience - or have a combination of college and work experience which totals at least four years

Understand and comply with the professional conduct requirement (and sign the Good command of English (all exams are set in English) Hold a valid passport for enrollment to the CFA Institute and for CFA exam

Candidates Responsibility Statement)

registration. Once you have enrolled yourself for the CFA Program you require to pass three steps to earn the Charter. (a) Pass all three levels of the CFA exam in succession. (b) Obtain 48 months of adequate professional work experience. (C) Join the CFA institute which includes, completing a professional conduct statement, and affiliate with a local chapter.

The Levels: The CFA Program is organized into three levels. At Level I, you will be asked basic knowledge and comprehension questions focusing on asset valuation. Some of the questions will require analytical knowledge. Level II further emphasizes analysis along with application. Level III focuses on synthesizing basic knowledge with evaluation tools and analytical methods for effective portfolio management. Each level of exam is six hours long and is divided into morning and afternoon sessions. However, Level I is given in the late fall and late spring, while levels II and III are given only once a year in the late spring. The Level I examination consists of 240 multiple-choice questions. The Level II examinations contain 20 mini-cases or vignettes that describe investment challenges practitioners are likely to encounter. Each item-set contains six questions based on the vignette. The level III exams contain constructed response (essay) questions in the morning session and 10 item-sets in the afternoon session. Details of the curriculum can be viewed by clicking the following link:

http://www.cfainstitute.org/CFAPROGRAM/COURSEOFSTUDY/Pages/index.aspx

and the Time: As the program is a self-study one, time is more flexible than with institutions you can basically take long as you need to complete the CFA Program. However, the entire CFA Program can be accomplished in as few as two years. Due to work and family commitments many candidates schedule their exams according to their convenience over a longer period of time. A successful candidate spends an average of 300 hours preparing for each exam. For each level of the curriculum, there are 18 study sessions, so a good plan is to devote 1520 hours per week, for 18 weeks, to study the material. Also, the CFA Institute estimates that at least 250 hours of independent study is necessary to pass each exam. In other words, a candidate starting six months before exam day should plan to devote no less than 10 hours a week to studying. Use the final four to six weeks before the exam to review what youve learned and practice with sample and mock exams.

JUNE 2012 exam (Level I, II, and III) fees detail: CFA Program applicants pay an initial one-time enrolment fee.

Deadlines

Program Enrollment Fee $420 $505

Exam Registration Fee $745 $1005

Total Cost

15th Feb, 2012 14thMarch, 2012

$1165 $1510

Returning and Level II and III candidates pay only the exam registration fee. There are three options for the CFA Program curriculum: eBook only, printed version only or both. If you select both the eBook version and the printed version of the curriculum you have to pay the

cost of additional curriculum ($30) plus shipping. For example, if you enroll and register for the June 2012 Level 1 exam by 15thFebruary, the fee structure will be: (1) If you select the eBook version of the curriculum only: $420 + $745 $40 (Institute offers a

US$40 discount) = $1,125. (2) If you select the printed version of the curriculum only: $420 + $745 + $20 (shipping*) =

$1,185. (3) If you select both the eBook version and the printed version of the curriculum: $420 + $745 +

$30 + $20 (shipping*) = $1,215. A committee of practicing CFA charter holders in conjunction with CFA Institute staff designs the curriculum to deliver the Candidate Body of Knowledge (CBOK) to CFA Program candidates. Study resources from Kaplan Schweser and Stalla are the best and used by many candidates for covering all 3 levels of the exam. You can choose from various study packages by Schweser like Schweser Notes from the Self Study Packages at $349 and Premium Study from the Instructional Study Packages at $999. Furthermore, CFA Institute co-hosts career development conferences with member societies. These conferences are open to CFA Program candidates where they can learn career development, career management and career transition topics. There is also provision of LOS, Learning Outcome Statements. These are study session and/or reading-specific objectives. With the help of LOS a candidate can focus on his/her study and at the same time enhance his/her learning capability. Each exam question is explicitly based on one or more LOS. There is also the eBook version which gives access to the curriculum in digital format. The CFA holder can find career opportunities in Banking, Corporate Sectors and Finance and Leasing Companies. Organizations like Railways, Reserve Bank of India and Financial Institutions like ICICI, IDBI, IFCI and UTI have given due recognition to the CFA Program. The career prospects are bright with challenging professional positions and attractive emoluments.The self-study format allows your to continue working full-time even as you progress towards earning the CFA charter.

Employers recognize the CFA charter as the definitive standard by which to measure the skill, integrity and dedication of serious investment professionals. As far as the salary of a CFA is concerned it varies based upon job types, years of experience, employer type and several other factors. However, an entry level CFA can expect to make around $52,000 in his/her first year. Your pay will shoot up considerably after many years of experience and with over 20 years of experience you can expect an average almost $140,000 and more a yea, although many earn far far above that. The CFA Institute and the local society can determine your membership eligibility after reviewing your work experience and sponsor statements and based on the information in your application the CFA Institute assigns two types of membership: Affiliate Membership and Regular Membership. The CFA Institute membership year is 1 July through 30 June. The Institute Annual dues are US$275 for Regular and Affiliate Members and annual dues for members for retired status are US$100.Once you are a member you can gain access to powerful tools, information and educational opportunities and enjoy many career-enhancing benefits.