The CFA Institute has seen a record number of Australian investment professionals sit its Chartered Financial Analyst exam, amid a shift in professional standards.
According to a statement, the December 2016 exam saw an increase of 14 per cent from the previous year in the number of Level I candidates tested for the CFA Program globally.
The number of Australian candidates increased by more than 40 per cent, the statement said.
“Rightfully, there is an increased focus in Australia to raise the standards of professionalism across the financial services industry,” said CFA Society Sydney president, Anthony Serhan.
“The strong increase of more than 40 per cent in the number of Australian candidates from 1,695 candidates in 2015 to 2,387 sitting the December exam in 2016 is indicative of the industry’s desire to both improve standards and adopt globally recognised, tried and tested standards of professionalism like CFA.”
To earn the CFA charter, candidates must pass all three levels of exam, meet the work experience requirements of four years in the investment industry, sign a commitment to abide by the CFA Institute Code of Ethics and Standards of Professional Conduct, apply to a CFA Institute society and become a member of CFA Institute.
The CFA Program curriculum covers ethical and professional standards, securities analysis and valuation, international financial statement analysis, quantitative methods, economics, corporate finance, portfolio management, wealth management and portfolio analysis.
Level I exams are offered in both June and December, and Levels II and III are offered only in June. It takes most candidates more than three years to complete the CFA Program, the statement said.
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