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Chartered
Financial Analysts
The Chartered Financial
Analyst (CFA) is a career of rather recent origin and
recognition, and multiple career opportunities are available
to the CFAs. At present over 150 CFAs are working in several
banks, financial institutions and corporate sector. In these fields, the CFAs occupy the key position with lucrative
salary and perks like Appraisal Executives, Fund Managers,
Investment Managers, Financial Analysts, Manager Hire
Purchase, Manager Portfolio Management, Financial Consultants, Investment Advisors etc, Plethora of mutual
Funds and hire purchase companies during the recent years
have increased the employment opportunities for CFAs
manifold.
The Programme of Chartered Financial Analysts conducted by
the Institute of Chartered Financial Analysts of India (ICFAI)
is meant for two category of students i.e. the executives
desirous of updating their professional skills in financial
analysis and the fresh graduates who are interested to pursue
a professional career in Corporate Finance, Financial Service
and Investment Management.
The Institute
The Institute (ICFAI) was established in the year 1985 as a
non-profit educational society to train a cadre of finance
professionals and to build financial skills of managers and
administrators. Among other Programmes like Diploma in Basic
Finance (DBF) and Merchant Banking and Financial Services (MBFS)
the Institute also runs the prestigious CFA Programme, on completion
of which the students are awarded the degree of
CFA.
Various Government departments seek expert opinion of the
Institute on several financial matters of national interest.
Currently, there are over 18000 students enrolled with the
Institute for the CFA Programme. It is recognized as a
post-graduate programme and various Government Departments,
Public Sector Undertakings and the financial institutions
like RBI, UTI, IDBI, ICICI, IFCI etc., reimburse the fee of
Programme incurred by their staff pursuing this Programme.
The Programme
It is essentially a self-study programme and the Institute
supplies study material to the enrolled students. The CFA
Programme strives to build a cadre of financial analysts to
meet the challenges of modern day business dynamics and to
meet the need of financial functionaries at higher level in
the corporate sector. A unique professional programme, it is
aimed at providing deep insight and understanding in three
core areas like corporate finance, investment management and
financial services. This programme, however, does not lay
much emphasis on the areas like book-keeping, auditing and
taxation which are adequately covered by the traditional
programmes like CA, ICWA, FICWA etc. Instead, it is designed
for the future needs of the corporate sector, the investment
industry and the financial sector.
Eligibility and Admission
Any graduate in any discipline from a recognized university
is eligible to seek admission to the Programme which is made
on the basis of an admission test. The students appearing in
the final year examination of graduation are also eligible.
However, MBAs, Post Graduate Diploma Holders in Management,
CAs, CWAs, CSs, CAIIBs, First class graduates/post-graduates
and senior executives with ten years of service in the public
sector or the private sector may seek exemption from the
admission test.
The admission test aims at testing the aptitude of the
candidates for professional studies in financial analysis.
Hence the test places emphasis on the test of quantitative
reasoning. The admission test is held four times in a year
i.e. in the months of January, April, July and October
at 24
centres spread all over the country. A particular centre may,
however, not operate if a minimum prescribed candidate do not
opt for that centre.
Enrolment
The candidates who are successful in the admission test and
those who are exempted from passing the admission test are
enrolled for the Programme. A student is allowed a maximum
period of three years to complete the preliminary level of
the programme and a maximum period of seven years to complete
the entire programme.
Programme Levels
The CFA Programme is divided into three levels i.e.
preliminary level, inter level and the final level. The
examinations for preliminary level are held four times in a
year in the months of Jnauary,April, July and October whereas
the same for inter and final level are held twice in a year
in the months of January and July. The students are required
to pass three levels in proper sequence. The three levels
are: (a) Preliminary level; (b) Inter level; and (c) Final
level.
Coaching Facilities
The Programme is primarily designed as a distance learning
course. The Institute provides high quality text books,
solution manuals, assignments, select readings and model
question papers to supplement self study by the students. In
addition the Institute organises week-end workshops at Delhi,
Bombay, Calcutta, Madras, Hyderabad and Bangalore. These
workshops are designed to assist the students to have better
understanding of the basic concepts and problems.
Completion
On successful competion of the Programme the candidates are
awarded the degree and designation of Chartered Financial
Analysts. ICFAI being closely associated with such institutes
all over the world including the USA, Japan, Norway, France,
Singapore etc, the successful candidates may seek careers not
only in India but also abroad.
Other Details
The Institute advertises the Programme from time to time in
leading national newspapers for the information of interested
candidates. However, further details like fees, syllabi
procedures etc, are available in the prospectus which may be
obtained by sending a demand draft of Rs 150 in favour of the
"ICFAI" from The Admissions Officer (CFA), The Institute of
Chartered Financial Analysts of India, Road No. 3 Banjara
Hills, Hyderabad - 500034
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