This document provides an overview of the 2015/16 program presentation for the Center for Management and Financial Analysis (CMF) at Moscow State University. It discusses the following key points in 3 sentences or less: - CMF offers financial analysis and quantitative analysis programs to provide students with skills for careers in finance. It has strong industry connections and career support. - The programs have grown since being launched in 2012-2013 and now include over 500 applicants for the upcoming year across various courses in financial modeling, valuation, and quantitative topics. - Students who complete the programs receive diplomas or certificates and many obtain internships and jobs at top Russian and international financial firms after graduating.

1. 2015/16 Program Presentation
5 September 2015

2. CMF MSU Overview
2
One of the leading
university schools of
finance in Russia
1 Well-educated
instructors from
largest Russian and
International financial
companies
2
Assistance in
building long-term
career in finance
3
Strong relationships with
the administration of the
MSU Economic faculty
4
Communication
with recruiting
teams and
preparation for
summer and off-
cycle internships
5

3. Key Milestones
3
2007-present:
Scientific seminar
Financial
Econometrics at the
Faculty of Economics,
Moscow State
University (EF MSU)
Jan-2013:
Financial
Analysis
program is
launched
Feb-2014:
Launch of Financial Modeling
and Valuation Principles
courses which are currently
basic courses of Financial
Analysis program
Sep-2015:
Venture Analysis, Data-driven
Analysis and Economic
Analysis courses are
announced. More than 500
applications on 2015/16
program were received so far
Sep-2012:
CMF foundation.
Quantitative
Analysis program is
launched
Sep-2013:
EF MSU joint
Master’s program
Mathematical
Finance is
established
Oct-2013:
First analyst equity
research
competition
‘Russian Buffet”
Jun-2014:
Summer program for
new applicants is
launched. More than
400 applications were
received
1

4. CMF Team
4
2
Bulge Bracket
/ Private
Equity / Big-4
Russian and
International
Banks /
Financial
Institutions
Universities
Industry
Coverage /
Financial
Consulting /
Credit Agency

5. Focus on Long-Term Career
5
Financial
Analysis
Quantitative
Analysis
Investment Banking
Private Equity
Industry Valuation
Equity Research
Quantitative Finance
Hedge Funds
Sales and Trading
Macro Finance
Portfolio Managers
Investors
Entrepreneurs
1-year program CMF Club
3

6. 2014/15 Program Results
240 applications
received of which
167 were accepted
57 students
successfully passed
mid-term and final
exams
Internships and full-
time positions in top
Russian and
International
financial companies
6
3
41%
28%
31%
Diploma with Honour
Diploma
Certificate
MSU HSE Financial University Plekhanov University Other
27%
31%
14%
5%
23%
42%
23%
9%
7%
19%
2014/15 2015/16

7. Core Educational Programs
7
Compulsory
Courses
(Oct-15 / May-16)
Elective Courses
(Feb-16 / May-16)
Financial Statement Analysis
Financial Analysis Program Quantitative Analysis Program
Financial Modeling
Valuation Principles
Deal Financing
Deal Structuring
Fundamental Analysis (1 semester)
Fundamental Analysis (2 semester)
Venture Investments
Econometrics, Stochastic Analysis
and Financial Mathematics
Algorithmic Strategies, Financial
Modeling and Risk Management
Equity Analysis, Fixed Income,
Derivatives and Structured Products
Scientific Seminar, Analytic Cases
and Brain Teasers
Asset Management
Quantitative Finance
Macroeconomics
Data-driven Analytics
CFA L1 Preparation
3

8. Quantitative Analysis Program Overview
• Compulsory courses
– Algorithmic trading
– Econometrics
– Machine Learning
– Stochastic Analysis and
Financial Mathematics
– Financial Modeling
– Quantitative Equity Analysis
– Derivatives Pricing
– Applied Fixed Income
– Structured Products
– Scientific Seminar
– Analytic Cases
8
• Workshops
– Sales and Trading
– Investment Analytics
– Risk Management
– Programming
• Elective courses
– Asset Management
– Quantitative Finance
– Macroeconomics
– Data-driven Analytics
3

9. Financial Analysis Program Overview
• Compulsory courses
– CFA Level 1 Preparation
– Fundamental Analysis
– Financial Statement Analysis
– Financial Modeling
– Valuation Principles
– Deal Financing
– Deal Structuring
9
3
• Elective Courses
– Venture Investments
– Asset Management
• Workshops and case studies

10. Partnership with EF MSU
Bachelor’s Program
• Elective courses for the First Group,
intensive bachelor’s program
• First Group is led by Associate Professor at
Princeton University, EF MSU graduate
• Students are primarily the winners of
academic competitions
• More in-depth macroeconomic and
microeconomic analysis
• 2015/16 group: interview sessions in Sep-15
• About EF MSU Bachelor’s programs
– https://www.econ.msu.ru/programms/u
ndergraduate/
• About First Group
– https://www.econ.msu.ru/entrance/bach
elor/gpan/
10
4
Moscow State University, Economic Faculty
Master’s Program
• Specialization: Mathematical methods of
analysis of economics
• Major: Mathematical finance
• 2013/14 group: 11 students (out of 25 on the
program)
• 2014/15 group: 16 students (out of 25 on the
program)
• 2015/16 group: interview sessions in Sep-15
• About EF MSU Master’s programs
– http://www.econ.msu.ru/programms/ma
sters/
• About Mathematical methods of analysis of
economics sub-program
– http://www.econ.msu.ru/students/mag/c
urricula/mmae/

11. Preparation for Summer and Off-cycle Internships
 Successfully helped to pass screening
(offered to the top CMF students only)
 Preparation for summer internships in
Russian banks (online tests,
assessment center, brainteasers)
 Interview sessions with CMF tutors in
December and in April
 Recommendations from CMF tutors
11
5
In-depth interviews ahead
of off-cycle and summer
internships
Signed by CMF Director,
PhD Professor at EF MSU

12. Application Process in 2015
FINANCIAL ANALYSIS
• Personal interviews
– 2-round interview with teaching assistants and then with instructors
– You must know answers to the list of questions which were sent to personal e-mails
– We may also ask to solve any tests from CFA database as per provided list of topics
QUANTITATIVE ANALYSIS
• Written test – mathematical and financial problems
• Oral questions - basic technical questions (probability and statistics, econometrics, brain teasers,
fixed income, derivatives, finance, economics)
• Personal interview – student’s academic work discussion, motivation, etc.
GENERAL INFORMATION
• Available dates: 5-Sep / 12-Sep / 19-Sep / 26-Sep
• Location: Moscow State University, Economic Faculty
• Final list of new students will be published on 1-Oct-2015
• First lesson is on 3-Oct-2015
12

13. How to Prepare (1/2)
BOOKS AND 101 QUESTIONS
• Schweser CFA Study Notes – be prepared for any numerical exercises from this book
• Review the list of books published in CMF VK Group and in Moodle
• Prepare answers to the list of questions circulated by CMF tutors
MACRO ENVIRONMENT AND PRECEDENT TRANSACTIONS
• Read Vedomosti, Kommersant, Bloomberg, FT for the latest closed and announced
transactions
• Find KPMG / EY / PwC / Deloitte / Mergermarket latest Global and Russian M&A and IPO
update
RESUME
• Walk us through your resume. It should attract our attention! You will have up to 5 minutes
to present yourself
MOTIVATION
• Do you really know why are you applying for this program? If so, try to briefly describe the
key reasons for this
13
Financial Analysis

14. How to Prepare (2/2)
125 PROBLEMS AND QUESTIONS
• Prepare answers to the list of problems and questions circulated by CMF tutors
• Review the list of books published in CMF VK Group and in Moodle
• Prepare short report or presentation of your best scientific work
RESUME
• Walk us through your resume. It should attract our attention! You will have up to 5 minutes
to present yourself
MOTIVATION
• Do you really know why are you applying for this program? If so, try to briefly describe the
key reasons for this
14
Quantitative Analysis