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CFA Information Request
02-13-2005, 07:39 PM
Post: #1
CFA Information Request
Hi All.
I am ACCA and ACMA. I also practice. Lately I have got the idea of doing CFA. Please tell me following
a. Demand of CFA in Pakistan.
b. Starting slalry level of CFA.
c. Practical difficulty/pass rate. Do not refer me to cfa institute pass rate. Tell me how difficult it actually is.
d. Would you pre4fer CFA or CA. Though they are different but in same macro frame of employment (apart from audit).

Thanks.
Hoping for an early reply.

Aamer Sikandar
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02-14-2005, 05:02 PM
Post: #2
 
Here is some information abt CFA.
CFA has 3 levels of exams and each level consists of two exams of three hours duration held on same day i.e. morning session and evening session.
Level I covers economics, finance, investments related accounting,
and introduction to assest valuation.
Level II covers valuation of securites, debt, and derivatives, and
advanced accounting re investment.
Level III covers portfolio management(individual & institutional) hedging (advance derivatives), investment performance evaluation and presentation.
Each Level has an ethics and quantitative methods (advance statistics) which gets progressively difficult with each level.

The CFA Program is postgraduate

To register in the CFA Program, an applicant must

Have a US bachelor's degree or comparable non-US degree. The degree requirement is self-reporting. An applicant must receive a bachelor's degree no later than 31 December of the current examination year to qualify for entrance into the CFA Program.


Registration & Enrollment Fees
Applicants pay an initial registration fee upon entering the CFA Program. In addition to the initial registration fee, applicants are required to pay an enrollment fee for each examination. New registrants pay both the registration and enrollment fees. Returning candidates pay only the enrollment fee.

2003 REGISTRATION AND ENROLLMENT FEE SCHEDULE
Total fee around $525

u need to buy ur own books and specific calculator which almost cost some $500

Answering Such querie Sumaan Stated
<blockquote id="quote"><font size="1" face="Verdana, Tahoma, Arial" id="quote">quote<hr height="1" noshade id="quote">--------------------------------------------------------------------------------
CFA or Chartered Financial Analyst (http://www.aimr.org) too is an American originated qualification known worldwide... CFAs practice in Investment Companies, Insurance sectors, etc etc... The official statistics are as follows

Investment Companies 25%
Investment Banks 19%
Investment Management Counselling Firms 14%
Banks 13%
Consulting Firms 6%
Insurance Companies 5%
Others 18%

The study of CFA is more like that of an Actuary.<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">--------------------------------------------------------------------------------



In pakistan, only CAMS is offering all the assistance abt CFA. access there website at http://www.cams.edu.pk .

Plz visit this link.
http//www.accountancy.com.pk/forum/topic.asp?TOPIC_ID=613

Here is a abstract from AIMR.com
<blockquote id="quote"><font size="1" face="Verdana, Tahoma, Arial" id="quote">quote<hr height="1" noshade id="quote">64 Percent of Level III Chartered Financial Analyst Candidates Worldwide Passed June Exams, CFA Institute Reports

Almost 8,700 Passed Third and Final Exam

View Fact Sheet (PDF)

CHARLOTTESVILLE, Va., USA, August 25, 2004 – Sixty-four percent of the more than 13,500 current and aspiring investment professionals who sat in June for the third and final examination leading to the prestigious Chartered Financial Analyst® designation – or 8,669 individuals – passed the exam, CFA Institute announced today.

They will begin receiving their CFA charters as early as October, assuming that they have also completed the minimum work-experience requirement of three years in the investment industry and have signed a commitment to abide by the CFA Institute Code of Ethics.

To earn the CFA charter, candidates must sequentially pass three six-hour examinations that are widely considered the most rigorous in the investment profession.

On average, CFA candidates take four years to pass the three required examinations. (The level-one exam is offered twice a year, while the second- and third-level exams are offered just once a year.) The examinations cover ethical and professional standards, securities analysis and valuation, financial statement analysis, quantitative methods, economics, corporate finance, portfolio management and performance measurement. CFA Institute recommends at least 250 hours of study per exam.

More than 61,500 individuals sat for one of the three exams in June – including roughly 24,000 each at levels one and two. The pass rate for all three levels combined was 40%.

Among those who passed the level-three CFA exam are

3,720 individuals who took the exam in the United States (where 69% of level-three candidates passed)
964 who took the exam in Canada (where 59% of level-three candidates passed)
1,987 who took the exam in Europe (where 75% of level-three candidates passed)
1,405 who took the exam in Asia (where 49% of level-three candidates passed)

The chair of CFA Institute, Theodore R. Aronson, CFA, and its president and CEO, Thomas A. Bowman, CFA, co-signed a letter to this year’s CFA candidates congratulating those who passed.

“Successful completion of the CFA Program represents a substantial achievement,” they wrote. “It is for this reason that the CFA designation enjoys such a sterling reputation throughout the global investment community, respected by employers, investors, and fellow investment professionals alike.”

Currently, there are 57,794 CFA charterholders in 114 countries and territories (not counting candidates from the June examinations).

About CFA Institute

CFA Institute is the global, non-profit professional association that administers the Chartered Financial Analyst® curriculum and examination program worldwide, publishes research, conducts professional-development programs, and sets voluntary, ethics-based professional and performance-reporting standards for the investment industry. CFA Institute has more than 70,000 members in 119 countries and territories, including the world’s 57,794 CFA charterholders, as well as 129 affiliated professional societies in 50 countries and territories. CFA Institute is headquartered in Charlottesville, Va., USA, with regional headquarters in London and Hong Kong. It was known as AIMR (Association for Investment Management and Research) from 1990 to early 2004, and before that was two separate organizations whose roots go back to 1947. More information may be found at http://www.cfainstitute.org.<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">

For Information about the pass rates plz visit the link below.
http//www.cfainstitute.org/cfaprogram/pdf/2004examresults.pdf

For detailed knowledge about the CFA Syllabes visit the following link
http//www.cfainstitute.org/cfaprogram/pdf/cbok.pdf

Here is a link to the some frequently asked questions. Visit this link as it will satisfy your query. Best of luck for CFA Examinations.
http//www.cfainstitute.org/canservices/pdf/faq-can.pdf





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