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CIPM Program

The Certificate in Investment Performance Measurement (CIPM®) Program leverages the expertise of CFA Institute, the respected global leader in investment education, ethics, and standards, to deliver practice-based approaches and develop skills for effective investment performance evaluation and manager selection.
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Earn the Leading Designation for Performance Evaluation

  • star icon Develop Expert Skills with Wide Application 

    Distinguish yourself with advanced portfolio evaluation and manager search and selection skills.

  • speedometer icon Take Advantage of Exam Exemptions

    Use your charterholder status to enter and complete the CIPM Program directly at Level II.

  • graduation cap icon Practice Continuing Education

    Demonstrate your commitment to maintaining globally relevant and practice-based investment performance and risk evaluation skills.

  • globe icon Earn a Global Passport

    Investment management professionals and institutions around the world recognize CFA Institute credentialing programs. View available waivers.

  • pie chart icon Deepen Your Insights

    Add a deeper level of understanding to performance results, risk analysis, and reporting.

  • three people icon Build Stronger Client Relationships

    Gain the trust of sophisticated clients through expert understanding and explanation of performance results.

*CFA charterholders and those who have successfully passed the Level III CFA® exam can enter and complete the program directly at Level II.

Earn an Advanced CIPM Specialty Designation

The CIPM Program curriculum prepares you in effective investment performance (return and risk) evaluation, manager selection, and investment reporting based on the Global Investment Performance Standards (GIPS®) standards.

Take the Readiness Assessment
  1. level i

    Portfolio Performance Measurement and Attribution

    Emphasizes the conceptual foundations of portfolio performance measurement, attribution, appraisal, and presentation, as well as the GIPS standards. This level is weighted more heavily on performance measurement and attribution.

    • 100 multiple-choice questions
    • 3 hours
  2. level ii

    Performance Appraisal and Manager Selection

    Emphasizes performance appraisal and manager selection, including application of the appropriate tools and inputs in more complex investment decision-making situations.

    • 20 item sets, each containing 4 multiple-choice questions
    • 3 hours

Get Familiar with CIPM Exam Dates, Fees, and Locations

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CIPM Testing Centers Around the World

The CIPM exams are offered at many Prometric test centers around the world. After you register, you can schedule your own exam appointment through your CFA Institute account.

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Understand CIPM Exam Fees

Learn about fees and deadlines for upcoming exam registration.

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Explore the Exam Calendar

Understand important exam dates and deadlines.

We Invest in Your Success

Once you are a registered candidate, you gain access to a wealth of information to help you study for exams and excel in your career. The Learning Ecosystem houses the entire CIPM curriculum, as well as: 

  • Personalized Study Plans
  • Flashcards
  • Practice Questions
  • Mock Exam
  • Candidate Discussion Board

Stay Informed

Interested in advancing your career with the CIPM Program, but not ready to register? Sign up to receive the latest news and information.

Essential Reading

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Learn more about the program and the future of performance evaluation.


CIPM Program Fact Sheet (PDF)
Get basic facts about the CIPM Program, who pursues it, and how investment management certification can help you in your career.


Advance Your Career

Earn the Certificate in Investment Performance Measurement designation to deepen your knowledge and increase your professional value. First time registrants must enroll in the CIPM Program. Click on the link below, create an account, and gain access to everything you need to prepare for the CIPM exam.

Enroll and Register
The CIPM Program is not yet offered globally. We are working to expand the certificate into additional markets. At this time, for example, we are not able to test candidates on mainland China. We are working with local regulators to obtain approval to test candidates in the region. Once approval is obtained, we will update this notice.  Please review the complete list of test center locations before registering.
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