The CFA designation is a qualification for finance and
investment professionals, particularly in the fields of investment
management and financial analysis of stocks, bonds and their derivative assets. The program focuses on portfolio
management and financial analysis, and provides a general knowledge of other areas of finance.
From 1963 (when the CFA designation was first awarded) to 2006, approximately 78,000 people from at least 126 different countries have been awarded the right to use the CFA designation, 68,000 of them in the years since 1990. As of 2006, more than 116,000 more people are currently enrolled to take one of the examinations.
The basic requirements for participation in the CFA program include holding or being in the final year of a university degree (or international equivalent), or having four years of qualified, professional work experience in an investment decision-making process.
CFA tests you in the following area:
Economics, Analysis of financial statements, portfolio management, corporate finance, Ethics, Quantitative methods, Derivatives, Fixed Income and Alternative investments.
Candidates generally take one exam per year over three years and are written at a postgraduate level for financial professionals. Fees for the June 2008 exams range from $600 to $930, depending on the date at which the candidate registers to take the exam. Exams are challenging, with only 35% passing the Level I, 46% passing Level II, and 53% passing Level III exam in June 2008.