Steve Wellard
+44 (0) 20-7531-0755
steve.wellard@cfainstitute.org
Sarah-Jane Purvis
+44 (0) 20-7531-0766
sarahjane.purvis@cfainstitute.org
Kathy Valentine
+1 (434) 227-2177
kathy.valentine@cfainstitute.org
Henry Chua
+852 3103-9363
henry.chua@cfainstitute.org
128,600 Investment Professionals Commit to Advancing Professional Excellence and Standards by Taking June 2009 CFA Exams
Charlottesville, Va., May 12, 2009 – CFA Institute announced today that despite the global economic downturn, a record number of serious investment professionals – 128,600 individuals from 154 countries – have reaffirmed their commitment to the highest level of professionalism by enrolling for the June 2009 CFA exams (view the global CFA exam registration statistics report (PDF)).
“During this time of great uncertainty in financial markets, it is critical that the global investment profession upholds what all CFA charterholders hold true: ethics, rigor, tenacity, and analytics,” said John Rogers, CFA, president and CEO of CFA Institute. “Market turbulence, low investor confidence, and regulatory reforms present CFA Institute and its current and aspiring CFA charterholders with the opportunity to lead the profession and to put investors’ interests first. In this regard, CFA Institute continues to be actively engaged in regulatory reform efforts, investor protection, and advancing ethics training for the financial services industry.”
The CFA examination is considered by many to be the investment
profession’s most rigorous credentialing program. Level I is administered
twice per year, in June and December, and Levels II and III are
administered just once per year, in June. (More fast facts.)
CFA Institute recommends that to be successful, a candidate should study
in excess of 750−900 hours for the three examination levels. On average,
successful candidates take four years to complete the self-study program
and examinations to earn the CFA charter. In addition to passing the
exams (see samples),
candidates must also have at least four years of work experience in the
investment profession and must commit to abide by the CFA Institute Code
of Ethics and Standards of Professional Conduct, a commitment they must
reaffirm each year to maintain the charter.
Since 1990, the compound annual growth rate for global registrations in
the CFA Program has been approximately 16 percent while the compound
annual growth rate for CFA Institute membership has been approximately 9
percent. (See 2008
statistics.)
“It is a testament to the value of the CFA charter that, despite the financial downturn, we experienced record examination registrations in fiscal year 2009,” said Bob Johnson, CFA, senior managing director of CFA Institute. “Now more than ever we need well trained, ethically centered investment professionals operating in the financial markets. Because those in the CFA Program learn the fundamentals of the investment decision-making process and are required to demonstrate their ability to put them into practice, candidates and current CFA charterholders have the experience and commitment to move the global economy forward.” (View CFA charterholder stories.)
Johnson added that “despite market conditions, we still expect to see a strong statement of the continued success of CFA Institute in the global marketplace. New registrations for the December 2009 exam are still ongoing, so it is too early to identify a clear impact of the crisis on total registrations. However, one thing is certain: CFA candidates and charterholders regularly tell me that when looking for a new job or working with potential and current clients, the CFA designation distinguishes them from those without the charter. This is an incredibly important testament to the value of the credential when the industry and economy are shrinking.”
About CFA Institute
CFA Institute is the global association for investment
professionals. It administers the CFA and CIPM curriculum and exam
programs worldwide; publishes research; conducts professional development
programs; and sets voluntary, ethics-based professional and
performance-reporting standards for the investment industry. CFA
Institute has nearly 100,000 members, who include the world’s 83,279 CFA
charterholders, as well as 136 affiliated professional societies in 57
countries and territories. More information may be found at www.cfainstitute.org.