Often times are regarded as the gold standard that has been set for investment management, the FA chartered financial analyst is a career that is much sought after and demands a lot of respect and accolades.
In this write-up, let us find out a few essential aspects of this career option, such as the ones that have been briefly explained in the paragraphs that follow.
Know the Key Takeaways of the CFA Profession
Find out more about the profession under the following heads-
1. What is a CFA?
Before we get into the depth of the many nuances related to CFA, it is essential to understand what is a CFA in education? Whenever you come across the title CFA after someone’s name, it means that this professional has earned in-depth training and is competent in the core skills and strategies related to investment and wealth management on a larger scale.
If you have earned a degree in this niche, it implies that you can work as a chief investment officer by being associated with any firm, which is private or public. Some of the areas that you must have expertise in include-
- Credit analysis
- Auditing and corporate accounting
- We are carrying out financial planning, to name just a few.
2. How to Become a CFA?
If you want to qualify as a CFA, you must complete a three-part sequential examination. The question format includes essay questions and multiple-choice questions as well. You must secure at least 42% to 54% for each part. Between 1963 and 2021, around 45% of those appearing for the exam could pass all three levels successfully.
To prepare for the exam, you must, on average, spend 320 hours for each part of CFA. Aside from the above, you must-
- Hold a bachelor’s degree or equivalent or doing your graduation
- You must possess at least 4000 hours of working experience to your credit
- Pass all the CFA in education.
- You must be willing to travel o those countries where CFA is recognized.
3. What does a Chartered Financial Analyst do?
Right from working as a CFA wealth management professional to asset management and other areas of the financial industry, the scope is limitless. These professionals work as Research analysts and carry out risk analysis and management. You are responsible for Managing the most vital company division, strategic planning of finances, and risk analysis.
In a nutshell, the CFA designation is used for investment professionals who have completed the requirements set by the CFA Institute. It is a position of immense importance, and the chief investment officer plays a crucial role in its cash flow.
