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Saturday, May 8, 2010

CHARTERED FINANCIAL ANALYST

In the era of liberalisation and globalisation the field of finance has widened to its fullest extent. Financial experts and their expertise in financial fields has been on high demand by the advanced countries of the West, namely UK and USA. As India has amalgamated with the globalisation trend the need of financial experts has gone up as well. However, in the new Millenium the fast moving world of finance with its immense opportunities is attracting the analytical bent of mind.
Chartered Financial Analyst (CFA) is the designation awarded by the I.C.F.A.I (Institute of Chartered Financial Analyst of India) which was established as a non-profit educational society with the active collaboration of ICFAI, Virginia, USA.
COURSE :
The Chartered Financial Analyst course turns out competent financial analysts and investment managers. It is a unique professional programme aimed at providing insights into the understanding of the students in the three core areas of Corporate Finance, Investment Managers and Financial Services. The programme addresses itself more to the broader managerial issues in the above core areas than to traditional accounting related programmes like book-keeping auditing and taxation.
HOW TO ENTER :
Admission to the Chartered Financial Analyst programme which is a Post Graduate programme, based on an admission test, which assesses verbal and quantitative reasoning abilities. In an overall analysis the admission test aims to evaluate candidates aptitude for studies in financial analysis.
ELIGIBILITY :
Graduation is the minimum qualification. Students in the final year of graduation can also take the admission test. Their enrolment would be confirmed only when their degrees are completed.
Direct enrolment to the CFA programme, that is, exemption from the admission test is available to professional such as MBAs, CAs, Cost Accountants and officers in Banks, Insurance companies, Class-I All India Services etc.
The CFA admission tests are held in the months of January, April, July and October at more than 20 centres all over the country.
DURATION OF THE COURSE :
The students enrolled in the programme are allowed a maximum period of three years to complete the preliminary level of the programme and a maximum period of seven years for the entire programmes. Three months after enrolment in the programme, one can take the examination in the foundation module. Students can proceed with the next stage of the programme only after successful completion of the foundation module.
STRUCTURE OF THE PROGRAMME :
It is divided into three levels – Preliminary, Inter and Final with two groups of papers at each level.
Basically, the course is administered at a distance learning/home study programme by the ICFAI . Therefore, all the study material, necessary in the form of text books, manuals of sample solutions, assignments, model questions as well as select readings are provided by the Institute to the students so that they can study at home. To facilitate self study a plan of study is also given so that the learning can take place in a structured manner.
To clarify concepts and supplements of the self-study programme, ICFAI also holds weekend workshops in cities like Bombay, Bangalore, Calcutta, Delhi, Hyderabad and Madras. Where sufficient students in other centres are interested the institute can also extend this facility to those centres too on request.
Students can appear for the examination at each level after passing the previous level. An average of 55% for the two papers in each group is essential for passing with a minimum of 45% in each paper.
FULL TIME CFA PROGRAMME :
Campus CFA programme of two year full time duration or three year part time can be done at various business schools in the country.
1. Xavier Institute of Management, Bhubaneswar.
2. Narsee Morjee Institute of Management Studies, Bombay.
3. S.P. Jain Institute of Management of Research, Bombay.
4. K.J. Somaiya Institute of management Studies and Research, Bombay.
5. Institute for Financial management and Research, Madras.
6. Institute for Technology and Management, Bombay.
7. Goa Institute of Management, Panaji, Goa.
8. Birla Institute of Science and Technology, Pilani.
JOB OPPORTUNITIES :
The ICFAI also provides placement to its qualified CFAs in areas of Corporate Finance, the Investment Management Sector (Portfolio Management) or in the Financial Services such as leasing, merchant, banking, hire purchase or in developmental Financial institutions. Representatives of companies like TELCO, INDAL, Zurac Agro Chemicals and Finance and leading companies regularly attend ICFAI placement meets. Apex financial institutions such as RBI, ICICI, IDBI and EXIM Bank absorb CFAs in their specialized departments. The scope for employment of CFAs is indeed

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