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Q1. How
I can become Chartered Financial Analyst ?
Q2.What does a CFA do?
Q3.What is the procedure for the completion of the Course?
Q4.What
is the eligibility for the course ?
Q5.What are the course contents?
Q6.What is the method of study ?
Q7.What is the prospects for employment ?
Q1. How
I can become Chartered Financial Analyst ?
A1.
The constantly developing industrial scenario has created a demand for experts
in the field of finance. The ever-changing scenario also means new ways and
means for managing financial portfolios. This has created a niche that can be
filled by a person specially trained to handle financial matters with all its
ramifications. In order to fulfill this need, a training programme called the
Chartered Financial Analyst programme has been brought into being by the Institute
of Chartered Financial Analysts. The qualification of a CFA is not merely an
additional qualification; it is a specialisation that gives a person a distinct
advantage over others in the field. The CFA course enjoys wide recognition all
over the country. In fact, bank employees who have completed the CFA course
are exempted from appearing for certain papers in the various examinations that
they are required to appear for.
Q2.What
does a CFA do?
A2.Fresh
CFAs generally begin as executive trainees in the financial sector. With experience
they climb up the corporate ladder to higher executive levels. The areas where
a CFA can use his skills are: financial accounting, management accounting, financial
management (both as relevant to India and for the international scene), investment
management, security evaluation, project planning, venture capital management
and credit rating among other things. A CFA will be responsible for decisions
in the above mentioned areas. His or her decisions will be based on quantitative
techniques of analysis of relevant data. The training provided by the ICAFI
will enable a CFA to know what to look for, where to look for it and how to
analyse whatever data he or she has obtained. The work performed by a CFA can
be extremely challenging and rewarding in monetary terms and in terms of professional
satisfaction.
Q3.What
is the procedure for the completion of the Course?
A3.
In
order to become a certified Chartered Financial Analyst, a person has to complete
a three-year post graduate programme. This programme can be studied through
correspondence. It is conducted by the Institute of Chartered Financial Analysts
of India (ICFAI). And on completion of the course one can become a member of
the ICFAI. The admission to this course is based on an entrance exam. This examination
basically tests a candidate's aptitude for the course. The course content delves
into fine details of financial analysis. So it is essential that a person opting
for this course has a natural aptitude for and the knack to grasp financial
matters.
Q4.What
is the eligibility for the course ?
A4.
The CFA course is opted for by both students and employed executives. Fresh
graduates and also students in the final year of the Bachelor Degree course
are eligible for the admission test. The pre qualification of a graduate degree
is waived in the case of Commissioned defence personnel who have five years
of experience. A financial analyst should have two traits, the first being an
ability to work well with numbers and the second being the ability to convey
his viewpoint in a precise and comprehensive manner. Keeping this in view, the
admission test attempts to test a candidate's verbal skills and quantitative
reasoning abilities.
Q5.What
are the course contents?
A5.The
foundation module of the course is aimed at familiarising candidates from disciplines
other that commerce, to the basic principles of finance. It includes courses
in financial and management accounting, essentials of tax planning, basic guiding
principles of investment, basics of corporate finance and a study of statistics
as relevant to financial applications. So people with professional qualifications
like MBA, CA, ICWA and M Com. are exempt from the initial foundation module
of the course. The others who take the foundation course can appear for the
qualifying exam of the foundation module three months after enrolment.
The preliminary level This level, also known as the second module, is divided into two groups - Group A and Group B. Financial accounting and financial management are the two papers in Group A. A candidate can take an exam in these papers six months after enrolment. There is only one paper in Group B: quantitative methods and economics. A candidate can take an exam in this paper twelve months after enrolment.
The Inter level This level, referred to as the third module, is divided into two groups: Group C and Group D. Group C has two papers - one on economic legislation and the other on management accounting. Exams for papers in this group can be taken six months after passing the preliminary level. Group D also has two papers: one on security evaluation and the other on project appraisal planning and control. Exams for this group can be taken twelve months after passing the preliminary level. The final level
The final level or the fourth module is divided into two groups: Group E and Group F. Group E has two papers - advance financial management and financial services. Exams for this group can be taken six months after passing the inter level. Group F has two papers in investment management - the Indian financial system and international financial management. Exams for the papers in this group can be taken one year after passing the inter level. Candidates at this level are also given practical training by placing them with reputed organisations.
Q6.What
is the method of study ?
A6.
As mentioned earlier, this course is conducted through correspondence. The institute
sends study material at regular intervals to the students. This is supplemented
with contact programmes in the form of weekend workshops held at major metros
like Bangalore, Chennai, Mumbai, Delhi, Hyderabad and Calcutta. The aim of these
workshops is to handle issues like clarification of key concepts and solving
any problems that the candidates might have encountered during the course of
self-study. Further Study The Chartered Financial Analysts course of the ICFAI
is recognised by the Indira Gandhi National Open University as an equivalent
to a Post Graduate degree. So a CFA is eligible for admission to Ph.D. programmes
in management. Many American Universities also recognise the programme and accept
it as an eligibility criterion for the pursuit of Ph.D. studies.
Q7.What
is the prospects for employment ?
A7. Employment
opportunities are a plenty in sectors like banking, insurance, the corporate
sector, companies dealing in finance and leasing. The Reserve Bank of India,
the International Development Bank of India (IDBI), the Industrial Finance Corporation
of India (IFCI) and the Indian Railways recognise the CFA programme and employ
trained CFAs. Besides these, a trained CFA can go into business as an independent
business consultant or join an existing consultancy firm. A Chartered Accountancy
firm or a firm specialising in cost accountancy is another option for a trained
CFA.
Contact Details For further information contact at the following address ICFAI 52, Nagarjuna Hills Punjagutta Hyderabad 500082. Tel.: 3351071, 3353411 website : http://www.icfai.org/homepage/Icfai_home_page.html
