Those who complete required course material and pass a series of tests over a three-year period are awarded the Chartered Financial Analyst®, or CFA® designation. Those who have earned this prestigious designation are thought to be experts in financial management and investment strategy, and their services are in high demand in the corporate finance world. Prior to beginning the course, candidates must have a bachelor’s degree or four years of equivalent experience in the industry. The CFA® designation is internationally recognized.
Following completion of the course materials, candidates for the CFA® designation must take and pass three separate six-hour tests, one each year. The person is only recognized as a Chartered Financial Analyst® after passing all three tests in a row. The exams must be taken at designated testing centers, which can be found in a variety of cities around the world and in a variety of countries. The Level I exam is offered twice a year, but the Level II and Level III exams are only offered once a year, in June. Because the test is not available in any other language, all applicants must take it in English.
To earn a CFA® designation, students must complete a rigorous course of study that covers important topics such as ethical practices and business standards. The CFA® Institute offers a graduate level of study in financial matters. The program culminates in the awarding of a CFA® charter, and graduates are referred to as CFA® charterholders. The studies are self-guided, and the entire process, including testing, takes about four years.
Many technical topics are covered in depth in the course, including various types of analyses and economic topics like market forces and supply and demand. Inflation, financial reporting, equity investing, and corporate finance methods are among the other topics that a CFA® must study. Graduates of the program are held to a high standard as financial professionals and are expected to follow a strict code of ethics.
Once a person has earned their CFA® designation, they may be eligible for a variety of on-the-job benefits. Those who have received the charter are frequently well-liked in the workplace and may receive significant pay raises, promotions, or new career opportunities. In some cases, the CFA® designation may be required before a person can advance in the financial industry beyond a certain level.