Interest in Pursuing the CFA® Charter Grows to Record Heights
250,000 Candidates Registered to Sit the June 2019 Exams in 348 Exam Centers Around the World
New York City, United States 13 Jun 2019
CFA Institute, the global association of investment management professionals, announced today that more than 250,000 candidates have registered for the upcoming Level I, II and III CFA®exams, an increase of 11 per cent over last year. The number of test centers also significantly increased from 286 to 348 in 95 markets around the world, reflecting growing recognition of the credential in emerging markets. The exams will be administered this weekend, June 15 and 16.
“Pursuing the CFA credential is a very rigorous process, with less than one in five candidates successfully completing it to earn the charter,” said Paul Smith, CFA, President and CEO, CFA Institute. “We are gratified to see the record number of candidates willing to put in the work continue to grow each year – especially in new markets around the world where finance plays such a vital role in building strong economies. In addition to signifying the gold standard for financial acumen, the CFA program sets a critical benchmark for the level of ethical behavior and fiduciary responsibility necessary to preserve the respect and confidence of investors.”
Each year, input is gathered from practitioners around the globe to guide additions, deletions and revisions to the 9,000-page curriculum to ensure its relevance. The 2019 curriculum has a total of 10 new readings including: Fintech applications, machine learning and two new ethics cases within a Fintech work setting; latest practices in active and passive equity investing; and enhanced reading on professionalism in different occupations within investment management.
CFA Institute has more than 165,000 charterholders who work in many of the industry’s most prominent investment banks, asset management and investment advisory firms. The CFA Program curriculum is grounded in the practice of the investment profession and is updated annually to reflect the evolving knowledge, skills, and competencies that are needed in today’s profession. The three-level, self-study program covers topics including Ethical and Professional Standards, Quantitative Methods, Economics, Financial Reporting and Analysis, Corporate Finance, Equity Investments, Fixed Income, Derivatives, Alternative Investments, and Portfolio Management and Wealth Planning.
Each level of the CFA Program imparts a particular skill set:
- Level I is focused on investment tools and the foundations of the business, giving candidates the necessary knowledge and comprehension;
- Level II is focused on applying those tools in the analysis of asset classes, including equity investments, fixed income, derivatives, and alternative investments;
- Level III is focused on portfolio management and wealth planning, requiring candidates to be competent in synthesis and evaluation while making investment decisions.
In 1963, the Institute of Chartered Financial Analysts (ICFA) administered the first exam and bestowed the title of Chartered Financial Analyst® (CFA) on those who passed. The inaugural exam was administered at 27 centers in the United States, Canada, and London to 284 candidates, six of whom were women.Today about 40% of the candidates are women.
To find out more about the CFA Program and how it can help investment professionals to achieve professional excellence for an impactful career, please visit www.cfainstitute.org.
CFA Institute is the global association of investment professionals that sets the standard for professional excellence and credentials. The organization is a champion of ethical behavior in investment markets and a respected source of knowledge in the global financial community. Our aim is to create an environment where investors’ interests come first, markets function at their best, and economies grow. There are more than 165,000 CFA charterholders worldwide in 164 markets. CFA Institute has nine offices worldwide and there are 156 local member societies. For more information, visit www.cfainstitute.org or follow us on Twitter at @CFAInstitute and on Facebook.com/CFAInstitute.