CFA Societies of Australia and New Zealand, member societies of CFA Institute, the global association of investment professionals, today announced that across the two countries over 3,539 candidates have registered for Level I, II and III CFA exams, which will be administered on 6 June worldwide.
Local candidates will join 159,889 candidates from 174 countries for this year¹s exams, an increase of more than 10,000 registrations globally compared to June 2014. In Australia and New Zealand, the numbers of candidates sitting for the exams has risen by more than 15 per cent or 500 registrations over the previous year.
“The CFA Program is the definitive path for gaining graduate level, ethically grounded and real world skills for a career in the global investment management profession,” said Mr Anthony Serhan, CFA, President of CFA Society Sydney. “Undoubtedly, the increased sophistication and globalisation of financial markets is adding to the number of investment professionals looking for a concrete way to demonstrate their personal commitment to ethics and integrity and to develop their skills and technical excellence by undertaking the exams.”
The CFA Program is considered to be the most rigorous credentialing program in the investment industry and is known for its strong focus on ethics and integrity, the difficult nature of its exams and its excellent reputation in the global and local financial services industry.
“The ten year average pass rate in Australia and New Zealand across all three exams is 42 per cent. For every current charterholder in the region, there are 1.25 candidates trying to become one,” Mr Serhan said.
The number of exam registrations for this year’s exam cycle (December 2014 and June 2015) totals almost 225,000 registrations. Regionally, Asia Pacific continues to be the largest source of candidates, with 69,131 registered for the June 2015 exam, accounting for 43 per cent of the total. The Americas saw the registration of 55,609 candidates, 35 per cent of the total, and 35,149 candidates registered in EMEA (Europe, Middle East, and Africa), accounting for 22 per cent of the total.
The CFA Program is a self-study program whose curriculum is grounded in the practice of the investment profession and is methodically updated with knowledge, skills and abilities (competencies) that are relevant to the profession. The three-level exam process covers topics including Ethical and Professional Standards, Quantitative Methods, Economics, Financial Reporting and Analysis, Corporate Finance, Investment Tools, Asset Classes, and Portfolio Management and Wealth Planning.
Each level of the CFA Program imparts a particular skill set:
- Level I is focused on investment tools and the foundations of the business, giving candidates the necessary knowledge and comprehension
- Level II is focused on asset classes including equity investments, fixed income, derivatives, and alternative investments, emphasizing candidates’ ability in application and analysis
- Level III is focused on portfolio management and wealth planning, requiring candidates to be competent in synthesis and evaluation while making investment decisions
Source: CFA Societies of Australia
