A guide to the CFA exams
The American Institute, previously named as Association for Investment Management and Research, or AIMR offers the internationally recommended professional qualification that is the Chartered Financial Analyst (CFA). In this program, professionals learn about Economy, investing, stocks and Finance. After the completion of the program, the candidate converts into a “CFA charter holder”. He then can apply for jobs at widely recognized financial firms like UBS, JP Morgan, Citigroup, Morgan Stanley, and BlackRock. The nominal duration required to complete the program is three years. The prospectus and topics are investment management, financial analysis, stocks, bonds and derivatives, and general knowledge of other areas of finance.
- The candidate must undertake the four years (48 months) of training, work experience and essential education.
- The candidate must clear every written paper. It deals with three examinations of six-hours.
- The candidate should be a member of the CFA Institute and CFA society;
- The candidate should abide by the Code of Ethics and the Standards of Professional Conduct identified by the CFA Institute.
The CFA curriculum schedule is based on passing all three exams (or three levels). It will notify the applicant’s academic quota. The levels emphasize the theme of ethics. The levels are based on:
- The Level I study – it deals with the tools and inputs, introduction to asset valuation, financial reporting and analysis, and portfolio management techniques.
- The Level II – it deals with asset valuation, applications of the tools and inputs, economics, financial reporting and analysis, quantitative methods.
- The Level III – it deals with the portfolio management, strategies for applying the tools, inputs, and asset valuation models in managing equity, fixed income, and derivative investments.
The Code of Ethics is the same for all candidates and members. It states that candidates or members should:
- Act of integrity towards public, clients, colleagues in the global capital market
- Reliability of the profession in the benefit of clients
- Consistent towards the investment that appeal professionals
- Preach and practices the Morales
Endorse the accuracy and sustain the guidelines leading to investments
- Preserve and progress their expert proficiency and endeavor
CFA Mock Exams and Programs details
Mock exams are planned to mimic the true exam day. They should be time bound and well-structured. They have the same area weights and level of difficulty as the actual exam. To see how difficult these tests can be, you can check out https://analystprep.com/cfa-level-1-mock-exams/.The mock exams should be taken every week before the actual exam. The only challenge for the applicants is they need to cover a wide variety of topics in a small amount of time. Therefore, the way to maximize its chances of passing the CFA level 1 exam, the candidate should do at least 2 mock exams. The mock papers have an answer sheet. The candidate should meticulously review each of his answer and see where he made the mistake. Sometimes, these mistakes can be calculation errors. Other times, the candidate could have not grasped a crucial concept covered in the CFA level 1 Syllabus.
Mock exams make comprehensive study more detailed, descriptive and explanatory. It shows how to arrive at answers in the most efficient manner and aids in helping the candidate to gather or gain the knowledge about the topics in which he has the most difficulty.