| 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.
Top
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.
Top
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.
Top
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.
Top
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.
Top
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.
Top
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 |
