UMBS CFA ®  Track
Session Outline <ul><li>Overview of CFA Program </li></ul><ul><li>Who Should Consider CFA and Why </li></ul><ul><li>Resour...
What is the CFA Program? <ul><li>The globally recognized professional certification in the field of investment management....
What Does the CFA Program Involve? <ul><li>A three year self-study curriculum with three annual examinations (Levels I thr...
Time Line <ul><li>Register September Through March </li></ul><ul><li>Exams on First Saturday of June </li></ul><ul><li>Res...
Registration Requirements <ul><li>Must have a US bachelor’s degree or comparable by the end of examination year (i.e., to ...
Who Should Take the CFA Program <ul><li>Strongly Recommend: </li></ul><ul><ul><ul><li>Investment Research </li></ul></ul><...
MBA vs. CFA:  Complements, not Substitutes <ul><li>CFA </li></ul><ul><ul><li>Global standard </li></ul></ul><ul><ul><li>Fo...
Recommended Courses (MBA) <ul><li>Level I </li></ul><ul><ul><ul><li>FIN 551, FIN 553, FIN 580, FIN 608, FIN 609, (FIN 613)...
Recommended Courses (BBA) <ul><li>Level I </li></ul><ul><ul><ul><li>FIN 300, FIN 310 </li></ul></ul></ul><ul><ul><ul><li>A...
Additional Resources <ul><li>Study guide outlines and required texts for all three levels available in Tozzi Center </li><...
Tips <ul><li>Learn the material in the recommended courses very well.  These are single, closed book comprehensive examina...
Information Sources <ul><li>http://www.aimr.com/cfaprogram/ </li></ul><ul><li>http://www.schweser.com/ </li></ul>
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CFA Charter

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CFA Charter

  1. 1. UMBS CFA ® Track
  2. 2. Session Outline <ul><li>Overview of CFA Program </li></ul><ul><li>Who Should Consider CFA and Why </li></ul><ul><li>Resources and Tips for Taking CFA at UMBS </li></ul>
  3. 3. What is the CFA Program? <ul><li>The globally recognized professional certification in the field of investment management. </li></ul><ul><li>Administered by Association for Investment Management Research (AIMR). </li></ul><ul><li>Over 50,000 CFA charterholders. </li></ul><ul><li>Over 100,000 enrolled for 2002 examinations. </li></ul>
  4. 4. What Does the CFA Program Involve? <ul><li>A three year self-study curriculum with three annual examinations (Levels I through III). </li></ul><ul><li>Curriculum covers: </li></ul><ul><ul><ul><li>Ethical and Professional Standards </li></ul></ul></ul><ul><ul><ul><li>Quantitative Methods </li></ul></ul></ul><ul><ul><ul><li>Economics </li></ul></ul></ul><ul><ul><ul><li>Financial Statement Analysis </li></ul></ul></ul><ul><ul><ul><li>Corporate Finance </li></ul></ul></ul><ul><ul><ul><li>Analysis of Equities, Fixed Income and Derivative Securities </li></ul></ul></ul><ul><ul><ul><li>Alternative Investments </li></ul></ul></ul><ul><ul><ul><li>Portfolio Management </li></ul></ul></ul>
  5. 5. Time Line <ul><li>Register September Through March </li></ul><ul><li>Exams on First Saturday of June </li></ul><ul><li>Results in August </li></ul>
  6. 6. Registration Requirements <ul><li>Must have a US bachelor’s degree or comparable by the end of examination year (i.e., to take Level I in June of 2003, must earn degree by December of 2003) </li></ul><ul><li>Complete registration form </li></ul><ul><li>Pay required fees ($725 before December 16, $1,025 before March 17) </li></ul>
  7. 7. Who Should Take the CFA Program <ul><li>Strongly Recommend: </li></ul><ul><ul><ul><li>Investment Research </li></ul></ul></ul><ul><ul><ul><li>Portfolio Management </li></ul></ul></ul><ul><ul><ul><li>Financial Advisory/Wealth Management </li></ul></ul></ul><ul><li>Recommend: </li></ul><ul><ul><ul><li>Corporate Financial Analyst </li></ul></ul></ul><ul><ul><ul><li>Other Corporate Finance/Treasury </li></ul></ul></ul><ul><ul><ul><li>Sales & Trading </li></ul></ul></ul><ul><ul><ul><li>Investment Banking </li></ul></ul></ul><ul><ul><ul><li>Corporate Financial Consulting </li></ul></ul></ul>
  8. 8. MBA vs. CFA: Complements, not Substitutes <ul><li>CFA </li></ul><ul><ul><li>Global standard </li></ul></ul><ul><ul><li>Focus on narrowly defined set of technical skills </li></ul></ul><ul><ul><li>Body of well-established knowledge </li></ul></ul><ul><ul><li>High failure rate (self motivation indicator) </li></ul></ul><ul><li>MBA </li></ul><ul><ul><li>Differentiated, customizable program </li></ul></ul><ul><ul><li>Focus on general management skills </li></ul></ul><ul><ul><li>Leading edge curriculum </li></ul></ul>
  9. 9. Recommended Courses (MBA) <ul><li>Level I </li></ul><ul><ul><ul><li>FIN 551, FIN 553, FIN 580, FIN 608, FIN 609, (FIN 613) </li></ul></ul></ul><ul><ul><ul><li>ACC 501, ACC564, SMS 502, BE 501, BE 560 </li></ul></ul></ul><ul><li>Level II </li></ul><ul><ul><ul><li>FIN 615, (FIN 618), ACC 712, (ACC 624), STAT 561 </li></ul></ul></ul><ul><li>Level III </li></ul><ul><ul><ul><li>ACC/FIN 725 </li></ul></ul></ul><ul><li>Ethical/Professional Standards and Alternative Investments Not Covered Above </li></ul>
  10. 10. Recommended Courses (BBA) <ul><li>Level I </li></ul><ul><ul><ul><li>FIN 300, FIN 310 </li></ul></ul></ul><ul><ul><ul><li>ACC 271, ACC312, SMS 301, BE 300 </li></ul></ul></ul><ul><li>Level II </li></ul><ul><ul><ul><li>ACC 318 </li></ul></ul></ul><ul><li>Level III </li></ul><ul><ul><ul><li>ACC/FIN 335 </li></ul></ul></ul><ul><li>Ethical/Professional Standards, Derivatives and Alternative Investments Not Covered Above </li></ul>
  11. 11. Additional Resources <ul><li>Study guide outlines and required texts for all three levels available in Tozzi Center </li></ul><ul><li>Schweser study guides for all three levels will be available in Tozzi Center in December </li></ul><ul><li>(Study group sign-up schedule January through April) </li></ul><ul><li>(Review course on ethics/professional standards, alternative investments and exam tips in late April) </li></ul>
  12. 12. Tips <ul><li>Learn the material in the recommended courses very well. These are single, closed book comprehensive examinations with failure rates in excess of 50%. </li></ul><ul><li>Start studying early (January at latest) and pace yourself. Keep a copy of Standards of Practice Handbook next to your bed. </li></ul><ul><li>Start using a CFA approved calculator </li></ul><ul><ul><ul><li>Texas Instruments BAII Plus </li></ul></ul></ul><ul><ul><ul><li>Hewlett-Packard 12C </li></ul></ul></ul>
  13. 13. Information Sources <ul><li>http://www.aimr.com/cfaprogram/ </li></ul><ul><li>http://www.schweser.com/ </li></ul>
  14. 14. Questions

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