CFA Discussion

[pale_pilsen]

thanks for the input, guys. i've asked some colleagues of mine and they all told me that if im planning to stay in my line of work, the CFA would not be necessary (since my job generally falls under S&T). for some of the quant guys, their next step would be a MS then perhaps a Phd, but in terms of ROI (of time and money), i don't think it would be appropriate in my case.

on the other hand, would taking at least level 1 help my chances of getting into a good mba program in the future? (to show my interest & knowledge of finance, since i have a BA in a totally unrelated field - neither economics nor finance).

[Zeratul]

I have 2 friends BS ME (MS Operations Research) / AB EcoH (MA Financial Economics), who are into mutual funds / portfolio management from AdMU. They took the CFA together. Both passed step 1, the economics dude flunked step 2, the ME dude flunked step 3 after passing 1 & 2. Finally my economics pal passed his step 2 overjoyed that he's back on the same track with his ME compadre. Now they are both reviewing for Step 3.

They started it, so now they finish it. Both of them are now cramming for the June 2004 final exam. If they were to start step 1 only now, they would say it's a waste of time since the perception is just CFA = "I am pogi!". However, the title is very coveted and can provide you a marketable passport to jobs with multinational finance companies.

They suggest 2-4 years work experience in a related field in finance / portfolio / policy planning, etc. before taking the CFA. While working, always be religiously reviewing for the subjects to be covered. Long term review (over a span of 1-2 years) works best for one hell of an exam that burns your wallet just to invest in a coveted title.

[rabbaddal]

Originally posted by Zeratul
I have 2 friends BS ME (MS Operations Research) / AB EcoH (MA Financial Economics), who are into mutual funds / portfolio management from AdMU. They took the CFA together. Both passed step 1, the economics dude flunked step 2, the ME dude flunked step 3 after passing 1 & 2. Finally my economics pal passed his step 2 overjoyed that he's back on the same track with his ME compadre. Now they are both reviewing for Step 3.

They started it, so now they finish it. Both of them are now cramming for the June 2004 final exam. If they were to start step 1 only now, they would say it's a waste of time since the perception is just CFA = "I am pogi!". However, the title is very coveted and can provide you a marketable passport to jobs with multinational finance companies.

They suggest 2-4 years work experience in a related field in finance / portfolio / policy planning, etc. before taking the CFA. While working, always be religiously reviewing for the subjects to be covered. Long term review (over a span of 1-2 years) works best for one hell of an exam that burns your wallet just to invest in a coveted title.

There is a reason why the CFA can be leveraged more in mutual funds / portfolio management than other finance fields like trading or investment banking. In the case of the former, people have to trust you with their money over and above so many other qualified people. The certification is an objective way for them to evaluate a fund manager's professional competence vis a vis i-banking where business strategy and relationships matter more.

[rabbaddal]

Originally posted by pale_pilsen
on the other hand, would taking at least level 1 help my chances of getting into a good mba program in the future? (to show my interest & knowledge of finance, since i have a BA in a totally unrelated field - neither economics nor finance).

If you can present a good and interesting story on how you plan to use your CFA in your post-MBA search, then it is an advantage such as an intention to go into hedge fund or portfolio management. You will also have to explain how your CFA supports your professional background with regards to your future endeavors rather than taking them as 2 discrete entities.

[mac_bolan00]

i have a lot of better things to do with 100,000 pesos (that's what's required, right?)

[birleys2]

Hello Hulk,

I sent you a PM. I hope you received it.

birleys2

[vaevictis]

*Bump*

To the Chartered Financial Analysts, where did you take the exam? Do they have a testing center here in the Philippines?

Do we have review guides available locally?

Im currently thinking if I should pursue an MBA degree first or directly skip the MBA and apply for the CFA immediately.

Thanks.

[KuyaDanny]

I would like to congratulate my friend tr|n|ty for recently passing Level 1.

[roadrage23]

I would like to congratulate my friend tr|n|ty for recently passing Level 1.

Way to go tr|n|ty!

[Hulk]

*Bump*

To the Chartered Financial Analysts, where did you take the exam? Do they have a testing center here in the Philippines?

Do we have review guides available locally?

Im currently thinking if I should pursue an MBA degree first or directly skip the MBA and apply for the CFA immediately.

Thanks.

There's a test site here in the Philippines kapag June Level 1 exam. Nung time ko sa AIM siya, pero now it's held in a hotel along Roxas. When you fill up your registration form, simply indicate Manila as your test site. Kung December Level 1 exam, pinakamalapit ang Hong Kong.

The study guide could be downloaded from cfainstiute.org The books are harder to acquire so I recommend that you buy them online from the CFA Institute. The Institute however is seriously considering including the cost of the reading materials to the registration fee. It will be more expensive for some, but it will only include required reading materials. Konti na lang daw kasi nagbabasa ng books, puro reviewer na lang kaya bumabagsak yung passing rate.

A lot of people get their MBA, MS Finance, Computational Finance to better prepare them for the CFA. Strangely, most of the local CFA charterholders don't have post-grad degrees. Ako I got my CFA charter first before my MBA.

If you're considering taking the CFA program, I suggest you seriously read the Job Experience Requirement. There are a lot of candidates that are having problems with this. You won't get your charter if you don't earn 3 years of experience from a job that is under their Job Classification List, a very specific and short list. During the last regional meeting I've heard that they are increasing the requirement to 4 years.

[vaevictis]

^ Yup, I just noticed it too. Im included in the list of qualified jobs, the problems is, I only have 1 year experience. Wheee, 2 more years to go!

Thanks dude.

[mac_bolan00]

I would like to congratulate my friend tr|n|ty for recently passing Level 1.

she passed! congratulations!

[Hulk]

^ Yup, I just noticed it too. Im included in the list of qualified jobs, the problems is, I only have 1 year experience. Wheee, 2 more years to go!

Thanks dude.

Pwede na yun, kasi nag-aacumulate ka naman ng experience habang nage-exam ka. Kung may 1 year ka + 3 years (3 levels) = 4 years, ayos na!

[tr|n|ty]

somebody pointed me this way..after what? forever.

well, thanks, guys
it's not THAT bad naman. i'm taking level II next year pa. ahahaha.

[j_l_uy]

trInIty, Im want to take my CFA level I next year. Can i borrow your books? Or any materials you can lend?

[tr|n|ty]

uhmm...my books are kinda old, you have to check first the LOS of next year's level 1 exam to figure out if its still applicable.

[dimps_dc]

Hello!

Just wanna know who's gonna take or knows someone who's gonna take the CFA exams this June?

It's going to be held at the Manila Pavilion Hotel on June 5, 2005 for the Level 1 - 3

[Japorms09]

hmm... I did not know that we have a CFA exam accreditation here in Manila...

[j_l_uy]

uhmm...my books are kinda old, you have to check first the LOS of next year's level 1 exam to figure out if its still applicable.

Thanks. Ill do that. I already have several books at hand and I only need to find the remaining books. I plan to take the exam by 2006, but Im doing my prepartion now. Hopefully, that is enough to pass this difficult exam.

Good luck with your exam. I know you can pass it.

[Hulk]

Thanks. Ill do that. I already have several books at hand and I only need to find the remaining books. I plan to take the exam by 2006, but Im doing my prepartion now. Hopefully, that is enough to pass this difficult exam.

Good luck with your exam. I know you can pass it.

I think 2006 will be the year that the CFA Institute will be including the cost of modular reading materials in the registration fees. The good news is that you would have a complete set of reading materials and you don't have to buy a whole book that only requires a few chapters. The bad news is that the registration fees will be expensive!