January 25, 2011 by USA Post
CFA INSTITUTE, CFA Institute announced today that 36 percent of the 46,644 worldwide candidates who sat for the Chartered Financial Analyst (CFA) Level I Review Program taken in December 2010 were successful. (Profiles Discover CFA.)
In Canada, 46,644 total exam candidates, 3427 to December Level I exam (an increase of five percent of 3258 candidates in 2009). The CFA program is a certification program at the university level that links theory and practice of investmentanlysis real world, assessment and portfolio management, and focuses on the highest standards ethical and professional. To obtain the CFA designation, candidates must pass all three levels of review (successful candidates report they are studying at least 300 hours for each level) to meet the demands of work experience of four years in the investments; sign an undertaking to respect the CFA Institute Code of Ethics and Standards of Professional Conduct apply to a CFA Institute society, and become a member of the CFA Institute.
John Rogers, CFA, President and CEO of CFA Institute, said: “I applaud the level of success, I applicants who are now one step closer to CFA charterholders. They have shown dedication and determination in implementing the CFA Program, and have demonstrated their commitment to raising standards in the investment sector. Takeaway key global financial crisis is that the emphasis should be placed on the values of ethics, education and professional excellence in the industry. These candidates have shown they are ready to act with these important principles in mind. ”
The CFA exams cover ethical and professional standards,anlysis and evaluation of securities in international financial statementanlysis, quantitative methods, economics, corporate finance, and portfolio management and performance measurement. Level I exams are held in both June and December, and Levels II and III were held in June It takes most candidates over three years to complete the CFA program, and requires dedication and determination. (See historic pass rate)
Rogers added: “The CFA is recognized worldwide as the gold standard designation for investment professionals. The number of candidates who have registered with CFA examination of the 2010 calendar year (June and December examinations combined) has increased to 204,688 (an increase of eight percent from 2009), demonstrating that the CFA designation continues to attract people who want to improve their knowledge and skills necessary to succeed in today’s competitive world of investing and finance. ”
“The CFA designation is recognized worldwide by employers, investment professionals and investors as the definitive standard for measuring the competence, integrity and dedication of serious investment professionals. CFA Institute has administered more than one million tests since the inauguration of the CFA program in 1963.
The December 2010 review of level I was given at 89 testing centers in 63 cities around the world. Examples of countries and territories with the largest number of candidates who took the Level I CFA exam last December are the United States (10,887), India (5812), China (5646), the United Kingdom (3488), Canada (3427), Hong Kong Africa (3203), Singapore (1814) and South (970).
Tom Robinson, CFA, and managing director of education at the CFA INSTITUTE, said: “The CFA program is examined under way to keep pace with the changing nature and complexity of the investment industry. The program is developed from the candidate body of knowledge ™ (CBOK ™), an overview of knowledge and skills needed to perform job responsibilities in an effective and ethical. Earning the CFA charter means to their peers, employers, customers, and many regulators around the world that a professional is well respected, knowledgeable and dedicated to defending the highest standards in the industry. ”
Select colleges and universities also have an appreciation of the overall relevance of the CFA charter and the benefits it provides. CFA Institute has identified these major institutions in the CFA program partners, meaning they comprise a significant percentage of the CFA Program CBOK in their curriculum, and undertake to incorporate the standards of the CFA Institute ethical and professional in their programs. This recognition tells students and employers that the school curriculum is closely tied to professional practice and is well suited to preparing students to pass the CFA exams. Currently there are 128 CFA Program Partners on six continents, including 10 in Canada. These include: Concordia University, HEC Montreal, Queen’s University, Université Laval, Université de Sherbrooke, the University of Alberta, University of British Columbia, the University of Toronto, University of Western Ontario and York University.
Notes to Editors
About CFA Institute
CFA Institute is the global association of investment professionals. It administers the CFA curriculum and CIPM and examination programs worldwide, publishes research, conducts professional development programs and sets voluntary, based on professional ethics and standards of performance reports for the investment industry. CFA Institute has more than 102,000 members, including 92,000 CFA charterholders worldwide in 133 countries and territories, as well as 135 affiliated professional societies in 58 countries and territories. More information can be found at www.cfainstitute.org.
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