Education logo

Does CFA really have such a high gold content? Is the exam difficult?

In recent years, with the rapid development of the market economy, especially the high development of the financial industry, the demand for financial talents is also increasing. The relationship between the epidemic has a certain impact on all walks of life, but the impact on the financial industry is not great, and the income from the financial industry has not decreased. In order to allow themselves to have better career opportunities and better career development, many people are keen to take various certificates. Today we introduce the CFA certificate.

By Y.W. FungPublished 2 years ago 6 min read
Like

What is CFA?

The full name is Chartered Financial Analyst. This certificate is different from other financial professional certificates. It has a pivotal position in the financial industry and is the leader in the investment industry, but it also bears higher professional ethics.

In 1963, the United States established the Chartered Financial Analyst Professional Qualification Certification. This professional qualification examination is held only twice a year, and the scale is the largest in the world. In this globally unified qualification exam, the exam questions are jointly formulated by the American Investment Management and Research Association.

It should be noted that there are certain restrictions on the registration of the CFA certificate exam, and each person can only apply for one level in the current year. The gold content of the CFA certificate ranks first in the industry, and its exam difficulty ranks first.

CFA exam content

The content of the qualification examination every year is linked to the current professional needs. The content of the examination has been strictly analyzed and reviewed by the CFA Institute, and the content learned in the course can meet the needs of the current financial market. The main content of the exam consists of four parts, namely, investment tools, ethical and professional standards, asset valuation, portfolio management and investment performance reporting.

The Level 1 exam is the easiest of the three levels, but also covers complex portfolios, management skills and asset valuation. The exam questions are in the form of multiple-choice questions, with 90 questions for each of the two subjects, for a total of 180 questions.

The difficulty level of the Level 2 exam includes the application of investment tools and asset valuations. The format of the test questions is also a more complex multiple-choice case, with a total of 120 questions for both subjects.

The main content of the third-level examination is the synthesis of the first two level examinations. The exam format has also been upgraded to two more complex parts. The morning exam includes short answer questions and calculation questions, and the afternoon exam is an Item set with a total of 60 questions.

Gold content of CFA

Although the income of financial practitioners is generally higher, the competition in this industry is also increasing. According to 2019 data, about 8 million people are engaged in the financial industry in my country. In the huge financial team, high-quality talents are very rare. The demand of the market has promoted the development of talents. In order to improve themselves quickly, many people in the financial industry began to study the CFA certificate.

The high income of financial practitioners also attracts many non-professionals. Without work experience and theoretical foundation, many people can quickly knock on the door of the financial industry by learning CFA. CFA is known as the first certificate in global finance, and it is also regarded as an entry ticket to Wall Street. The difficulty and authority of the exam has also become the main reason for the high gold content of this certificate.

With the rapid development of the market economy, the demand for high-end talents in the financial industry is also expanding. The financial industry pays very handsomely to high-end talents who hold CFAs. According to relevant information, the annual salary of the person in charge of the financial industry such as investment bank bonds and bond financing can basically reach the level of one million.

Practitioners who hold CFA certificates will leave an impression on enterprises that they study hard and have firm will. Enterprises need high-end talents with perseverance and ability. With solid financial knowledge, they can obtain more financial information for enterprises, so as to be able to obtain more financial information for enterprises. Establish a firm foothold in the financial market and seek greater development.

CFA admission requirements

1. Although it is an ace certificate in the financial industry, the registration of CFA does not have too many restrictions on majors. Even if you have no professional knowledge or professional qualifications, you can also apply for CFA. However, the application for the certificate has stricter academic requirements, and must have a bachelor's degree or a degree above the equivalent professional level.

2. Must have certain work experience. This work experience includes the years of study at the university. It should be noted that the years of study at the university and the working years cannot overlap.

3. Applications can be made within the first 11 months of obtaining a bachelor's degree or a degree of equivalent professional level. That is to say, during the study period of the bachelor's degree, you can apply for the CFA certificate, but you need to have relevant certificates from the school.

Reasons to be an ace certificate

There are many relevant certificates in the financial industry. Why does the industry call CFA the ace certificate? This answer seems complicated, but it is actually very simple. The knowledge system learned by GFA is very huge. And this knowledge system has a very high status in the world, not only in a wide range, but also in a leading position in professional technology in the world.

CFA's body of knowledge includes comprehensive applications, valuation analysis, professional ethics, and basic tools. The four learning modules are set up according to the real situation of the financial industry, covering all the professional knowledge of the financial industry. Candidates have a deeper understanding of the relevant knowledge of the financial industry in the learning process.

Starting from learning the theoretical basis of financial valuation, improve your financial analysis ability, including economic analysis, corporate financial analysis and financial statement analysis. On the basis of understanding the basic concepts of corporate stock valuation and bonds, we will have an in-depth understanding of the operation mode of the financial market and strengthen the analysis of return risks.

CFA Exam Difficulty

This is also the most concerned issue of financial practitioners. The exam is divided into three levels, each with a different level of difficulty and exam range. It is understood that the pass rate of Level 1 is very low, only 40%. The secondary pass rate increased slightly, reaching 44%. The pass rate of the third grade can reach 52%. However, only three levels are passed in order to obtain the certificate. There are very few people who can pass the Level 3 exam, with a pass rate of only 9.2%.

To pass the CFA exam, there is one more subject that must be studied, and it is English. Because the entire test is in English, the preparers must be proficient in English, otherwise they will not be able to understand the test content at all. For zero-based test preparers, due to the lack of basic knowledge, it is difficult to study, and the results obtained are not ideal, and they need to invest a lot of time.

Summarize

In order to pass the CFA exam, it is necessary for the preparer to have a firm will, strong perseverance, and indomitable learning spirit, and to devote themselves to the preparation stage, in order to have the possibility of success. Candidates can choose professional training institutions, and through the guidance of teachers, they can obtain more learning methods, which can also greatly improve the pass rate of the exam.

courses
Like

About the Creator

Reader insights

Be the first to share your insights about this piece.

How does it work?

Add your insights

Comments

There are no comments for this story

Be the first to respond and start the conversation.

Sign in to comment

    Find us on social media

    Miscellaneous links

    • Explore
    • Contact
    • Privacy Policy
    • Terms of Use
    • Support

    © 2024 Creatd, Inc. All Rights Reserved.