Certification Program Recognition

Many certification programs around the world recognize our educational programs and grant:

  • Waivers/exemptions from courses, exams, or work experience requirements
  • Waivers/exemptions from programs that recognize our continuing education (CE) program as satisfying their own CE requirements

Certification Programs Granting Waivers

American Institute of Certified Public Accountants (AICPA)

The American Institute of Certified Public Accountants (AICPA) co-developed the Certified in Entity and Intangible Valuations (CEIV) credential to address fair value measurements for entity and intangible asset valuations for financial reporting.

Candidates who have passed the CFA Program Level III exam are eligible for credential reciprocity that gives qualified candidates an exemption to the valuation competencies portion of the CEIV credential. These candidates will still have to meet the fair value measurements competencies, which are: 1) 3,000 hours of fair value measurements experience; 2) Complete AICPA’s CEIV and Professional Standards Education; 3) Pass CEIV Exam: Module 1 on Fair Value Measurement Environment, Guidance and Related Auditing Requirements and Module 2 on the Mandatory Performance Framework.

Learn more about the CEIV eligibility requirements for finance professionals.

American Society of Appraisers (ASA)

The American Society of Appraisers (ASA) is an international organization of professional appraisers representing all appraisal disciplines: Appraisal Review and Management, Business Valuation, Gems and Jewelry, Machinery and Technical Specialties, Personal Property and Real Property.

After analysis and research into the rigorous curriculum and education hours required to obtain the CFA charter, the Business Valuation Committee of the ASA determined the CFA credential deserved education equivalency.

CFA charterholders with five years of full-time business valuation experience now qualify for ASA’s education equivalency. Qualifying charterholders will not be required to take ASA’s BV201 through 204 classes or exams.

To obtain an ASA designation, CFA charterholders must take a Uniform Standards of Professional Appraisal Practice (USPAP) course, meet ASA’s ethics requirements, and submit a report for peer review.

Learn more about the ASA requirements.

Association of Chartered Certified Accountants (ACCA)
The Association of Chartered Certified Accountants (ACCA) is a global body for professional accountants. To qualify as an ACCA member, applicants must complete a minimum of five exams (out of a possible 14 exams).

CFA charterholders applying for ACCA membership are exempt from the Financial Accounting exam (Paper F3), one of five mandatory examinations.

To obtain the waiver, request official documentation of your charterholder status from info@cfainstitute.org and submit the documentation to ACCA.

Learn more information about ACCA exemptions.
Certified Credit Research Analyst (CCRA)

The Certified Credit Research Analyst (CCRA) is a comprehensive global education program designed to give an expert level understanding of debt capital markets and bank loan markets to graduates and experienced professionals. The CCRA is jointly offered by Association of International Wealth Management of India (AIWMI) & National Institute of Securities Markets (NISM).

The Association of International Wealth Management of India (AIWMI) is a not-for-profit organization and a globally recognized membership association for finance professionals.

CFA Charterholders and candidates who have completed CFA program Level II or III are granted an exemption from the CCRA Level 1 Examination and are eligible to appear directly for the CCRA Level 2 examinations via the Expert route.

To obtain the waiver, request official documentation of your candidate or charterholder status from info@cfainstitute.org and submit the documentation to AIWMI.

Learn more about the CCRA requirements and certification.

Certified Financial Planner (CFP)

The Certified Financial Planner (CFP) designation is a professional certification for financial planners offered by the Certified Financial Planner Board of Standards (CFP Board).

CFA Charterholders are recognized as fulfilling most of the education coursework requirement for CFP® certification. After completion of a capstone course registered with CFP Board, CFA Charterholders are automatically eligible to apply for the CFP® Certification Examination.

Learn more about the requirements for CFP® certification.

Certified International Wealth Manager (CIWM)
The Certified International Wealth Manager (CIWM) designation is sponsored by the Association of International Wealth Management (AIWM). The CIWM qualification is an international designation for finance and other professionals in the private banking industry.

Obtaining the CIWM designation requires passing both its Foundation and Final exams. However, CFA charterholders are exempt from the Foundation exam.

Learn more about the Certified International Wealth Manager (CIWM) designation.

Certified Investment Management Analyst (CIMA)

The Certified Investment Management Analyst (CIMA) certification is sponsored by the Investment Management Consultants Association (IMCA). IMCA was established in 1985 to deliver investment consulting and wealth management credentials and educational offerings.

Obtaining the CIMA certification is a five step process. However, CFA charterholders may bypass two of the five steps.

Learn more about the CIMA exemption.

Certified Public Accountants (CPA)
Certified Public Accountants (CPAs) must adhere to the continuing professional education (CPE) requirements set forth by the State Board of Accountancy of the state/s where a CPA license is held.

The National Association of State Boards of Accountancy (NASBA) recognizes CFA Institute as a continuing professional education (CPE) sponsor on NASBA’s National Registry of CPE Sponsors.

NASBA has accredited the Investment Foundations certificate program as qualifying for 36.5 CPE credits for its members.

Learn more about the Investment Foundations NASBA CPE credits.
Chartered Director (CDir)
The Chartered Director (CDir) designation is administered by the UK-based Institute of Directors (IoD).

The IoD accepts the CFA charter as a professional qualification. Therefore the CFA charter shortens the professional experience requirement from 5 years to 3 years.

Additionally, CFA Charterholders are exempt from the Finance for Non-Finance Directors module of the Certificate in Company Direction.

Learn more about the requirements for this designation.
Chartered Financial Consultant (ChFC)

Chartered Financial Consultant (ChFC) is the "Advanced Financial Planning" designation awarded by The American College of Financial Services.

CFA charterholders are exempt from the HS 328 Investments course, which is required to earn the ChFC designation.

Learn more about the ChFC designation.

Chartered Institute for Securities & Investment (CISI)

The Chartered Institute for Securities & Investment (CISI) is a professional body for those who work in the financial and investment industry; it offers qualifications, training, and industry membership.

CFA Program Level 1 candidates are exempts from the Introduction to Securities and Investments.
CFA Charterholders are exempt from the Financial Markets unit of the Diploma in Capital Markets.

Get more information about this organization

Chartered Institute of Management Accountants (CIMA)

The Chartered Institute of Management Accountants (CIMA) is a global professional body of management accountants.

Candidates who have passed the CFA Program Level III exam qualify for the Master’s gateway route. This is an accelerated entry program to the CIMA.

Learn more about the CIMA exemptions.

Chartered Insurance Institute (CII)

The Chartered Insurance Institute (CII) is a professional body for the global financial services profession, promoting higher standards of integrity, technical competence, and business capability.

Candidates who have completed CFA Program Level I, Level II, or Level III (completed 1 January 2007 to date) are granted an exemption from AF4 Investment planning (30 credits at Advanced Diploma level in the Financial Services qualifications framework) plus R02 Investment principles and risk (20 credits at Diploma level in the Financial Services qualifications framework).

Learn more about CII qualifications

Chartered Life Underwriter (CLU)

The Chartered Life Underwriter (CLU) is a professional designation for individuals who wish to specialize in life insurance and estate planning.

CFA charterholders are exempt from the HS 328 Investments course, which is required to earn the CLU designation.

Learn more about the CLU designation.

Institute and Faculty of Actuaries (IFoA)

The Institute and Faculty of Actuaries (IFoA) is the UK's only chartered professional body dedicated to educating, developing and regulating actuaries based both in the UK and internationally.

CFA charterholders and successful CFA Level I, II and III candidates are eligible to apply for exemption from the IFoA subject(s) relevant to each level. These include: CT7, CT2 (Level I), CT3 & CTI (Level II), CT8 (Level III) and ST0 (CFA charterholder).

Learn more about the IFoA.

Investment Management Certificate (IMC)
The Investment Management Certificate (IMC) is administered by the CFA Society of the UK and consists of Unit 1: The Investment Environment and Unit 2: Investment Practice. After earning the IMC, candidates are qualified to apply for membership with the CFA Society of the UK.

Candidates who have passed the CFA Level I exam are eligible to be waived out of Unit 2. The application to receive the waiver is made available on the candidate's Unit 1 exam results page.

Learn more about the IMC exemptions policy.
Professional Risk Manager (PRM)
The Professional Risk Manager (PRM) designation is a globally recognized, graduate-level risk management credential, consisting of four exams, administered by the Professional Risk Managers' International Association (PRMIA).

CFA charterholders who are PRM candidates can be granted exemptions from PRM exams I and II.

Learn more about PRM exam exemptions.
Royal Institute of Chartered Surveyors (RICS)

The Royal Institute of Chartered Surveyors (RICS) officially recognizes the completion of the CFA program as being applicable toward the basic qualification competencies portion of the RICS Certified in Entity and Intangible Valuations (CEIV) credential.

Those who have successfully completed the CFA program would have direct entry into the RICS CEIV program, but they would still have to complete the following CEIV requirements:

  • Ethics Module
  • Body of Knowledge and Mandatory Performance Framework training
  • Pass CEIV Exam

Learn more about the CEIV requirements at the Royal Institute of Chartered Surveyors (RICS) website.

Society of Actuaries (SOA)

The Society of Actuaries (SOA) offers three certifications: Associate of the Society of Actuaries (ASA), Chartered Enterprise Risk Analyst (CERA), and Fellow of the Society of Actuaries (FSA). Waivers for the ASA and CERA certifications are available for CFA Program candidates, as follows.

To become an Associate of the Society of Actuaries, an individual must validate their educational experience (VEE) in Economics, Corporate Finance and Applied Statistics. Successful Level I candidates qualify for an exemption from the Economics portion of VEE. Candidates who pass the Level II exam qualify for an exemption from the Applied Statistics and Corporate Finance portions of VEE.

Learn more about the ASA Requirements.

To become a Chartered Enterprise Risk Analyst individuals must validate their educational experience in Economics and Corporate Finance. Passing the Level I exam qualifies candidates for an exemption from the Economics portion of VEE. Passing the Level II exam qualifies candidates for an exemption from the Corporate Finance portion of VEE.

Learn more about the CERA Requirements.

The Institute of Chartered Accountants in England and Wales (ICAEW)

The ICAEW is a professional membership organization that promotes, develops and supports chartered accountants around the world.

The ICAEW has awarded credit to CFA charterholders for six of ICAEW’s Certificate and Professional Level (CPL) exams. Three credits have been awarded for Certificate Level (Accounting, Management Information, and Business and Finance) and three have been awarded for Professional Level (Financial Accounting and Reporting, Financial Management, and Business Strategy) exams.

Learn more about these credits.

Wealth Management Essentials (WME)

The Wealth Management Essentials (WME) course is offered by the Candidate Securities Institute. Completion of the WME also helps individuals who wish to earn the Certified International Wealth Manager (CIWM) designation.

CFA charterholders qualify for advanced standing and can enroll in a fast track version of the Wealth Management Essentials (WME) course.

Learn more about the WME course.

CFA Institute compiles and maintains this list of waiver opportunities with respect to other certification programs as a service to its members. CFA Institute has no responsibility for the quality of the programs listed, the curriculum, or the fairness of their examination process. Appearance on this list should not be construed as an endorsement of any product, service or organization by CFA Institute.