PERSONAL ATTRIBUTES

A methodical and analytical approach with a feel for numbers and figures. For CFAs who want to set up their own practice, confidence and good communication skills are important.

ENTRY

The Institute of Chartered Financial Analysts of India (ICFAI) conducts a certified Financial Analysts Course. This is a three-year post-graduate programme by correspondence. Admission is based on an admission test, which tests the aptitude of a candidate for professional studies in financial analysis.

TRAINING

Eligibility 

The CFA programme is aimed at two broad groups, namely executives and graduates. Graduates and students in the final year of their Bachelor's degree in any discipline are eligible to take the admission test. Commissioned defense personnel with five years experience can take the admission test even if they do not hold an undergraduate degree. MBAs, CAs, M.Coms and ICWAs are exempted from the initial foundation module of the course. The CFA admission test focuses primarily on verbal and quantitative reasoning abilities. 

The CFA training develops in the student an analytical bent of mind, which is a prerequisite for effective evaluation of the various alternatives in money management. This programme is divided into four levels. 

The foundation module includes courses in financial and management accounting, basics of corporate finance, essentials of investment and tax planning and statistics for financial application. The exams for the foundation module can be taken three months after enrollment. 

The preliminary level or second module is divided into two groups namely Group A and Group B. The Group A papers are financial accounting and financial management. These papers can be taken only six months after enrollment. The Group B has only one paper namely quantitative methods and economics, which a candidate can take twelve months after enrollment. 

The inter level is the third module which is again divided into two Groups C and D. The Group C papers can be taken six months after passing the preliminary level. The group has one paper on economic legislation and one paper on management accounting. The Group D papers on security evaluation and on project appraisal planning and control can be cleared twelve months after passing the preliminary level. 

The fourth module or final level is divided into Groups E and F. Group E can be cleared six months after passing the inter level. The two courses in this group are advanced financial management and financial services. Group F papers of investment management, consisting of the Indian financial system, and international financial management can be cleared twelve months after passing the inter level. 

In order to provide opportunities to the CFA students to gain some practical training in the fields of corporate finance, investment management and financial services, the institute helps place students in reputed organizations. Practical training is available for students in the final level programme. To supplement self-study programmes, the institute organizes weekend workshops at Hyderabad, Delhi, Bombay, Calcutta, Madras, and Bangalore. 

Workshops are held on weekends with two sessions of three-hour duration on both the days. The workshops focus on clarifying key concepts and problem solving.