Talk:Chartered Financial Analyst

message: Should there be a short section about criticism of the CFA exam, with regard to fees, subject matter, etc? Finnancier 15:21, 30 June 2007 (UTC)
thread_title: Criticism of the CFA exam

message: Yes - they fit together better then separately, though the exam page could stand some revision. Gary 16:31, 24 October 2005 (UTC)
thread_title:  Merge with [[Chartered Financial Analyst Exam]] 

message: In a general sence ,can the activity of CFA institute be considered as trade.It seeks to institute & regulate a certain profession in a foreign country.
India and other countries are signatories to the WTO (TRIPS) convention of 1967,& is obliged to protect intelectual property rights,of undertakings engaged in commerce & trade.
Does instituting & regulating a certain profession in India Constitute A trade.As far as general convention goes regulating a certain profession in a certain country is the exclusive right ot the legislature of that country.Can this exclusive right of the legislature be diluted by a trade mark protection law. 
122.50.221.100 (talk) 05:41, 30 August 2008 (UTC)
thread_title:  CFA institute seeking trade mark protection in india & elsewhere 

message: I like this sentence and feel it can be expanded to help the reader: 
"... critics note, however, that the program is focused on portfolio management and financial analysis, and thus the designation, in fact, provides only a generalist knowledge of other areas of finance."
I think it helps to answer one of the most frequently asked questions that potential candidates for CFA program have: "How is the CFA program different from an MBA in Finance? How do i know to choose one over the other?"
I have once tried to explain it this way: 
"Risking generalization, I would characterize an M.B.A. degree [in finance] as focusing on internal, corporate treasury or corporate financial management issues, and the CFA program as focusing on the external, market valuation of tradable securities issued by corporations. "
Perhaps the sentence on "critics note" can be expanded into a new paragraph or section to contrast the differences between an MBA in finance and the CFA program. This would help many at a career juncture make a better contrast and choice between the two programs. You are free to use or rephrase the last quotation from mine.
K Cheah
I know alot of MBAs who would scream bloody murder reading this description.  I think it depends on if you get an MBA with a focus (i.e. IB Track etc.,), and where you get your MBA from. 64.47.99.2 (talk) 15:20, 23 October 2009 (UTC)
thread_title:  Contrasting CFA and MBA in finance to help prospective candidates 

message: Based on counsel I have received from others, I will delete the Schweser link as it is purely commercial.  If we were to allow this to remain I think we would end up with every possible prep course provide sticking their links out here as well which is not what Wikipedia is for.  I think if folks follow the links to CFA Institute or Analyst Forum, they would be able to locate prep course provider information.Montco 05:50, 6 March 2006 (UTC)
thread_title: Schweser

message: This is a hardcore copy-paste job.  It sounds exactly like the pamphlet I got when I registered for the exam.--72.225.16.223 16:16, 13 August 2006 (UTC)
thread_title: Tone

message: CFA Institute is one notable investment institutions in United State and Canada, and CFA is one of notable investment qualification worldwide, so it is disadvantage to merge with the article of CFA institute.
Against. The Institute and the credential are different and the Institute oversees other programs beyond the CFA program. Gary 17:26, 22 August 2006 (UTC)
thread_title: OBJECTION for merge with CFA Institute

message: I am not sure the comment on the CFA being recognized as equal to the series 7 by the SEC.  I could not find any reference to this by the CFA Institute, NASD nor the SEC.  What I was able to find is NASD and SEC giving exemptions for those who have passed level I and II for the CFA exam for Series 86/87.  Not the series 7.  So whoever noted this as being equivalent we need a source.  Otherwise I propose changing this back comment to NASD gives exemptions to series 86/87
Is this a joke?  The Series 7 is a test given to stockbrokers so they can sell stocks that covers regulatory matters only.  The CFA is a graduate-level chartering program that is a comprehensive professional designation designed to identify experts in investment analysis.  Equating the two is like equating City Managers to National Senators.  —Preceding unsigned comment added by 131.241.28.36 (talk) 16:49, 3 July 2008 (UTC)
thread_title:  CFA Series 7 equivalent? 

message: It seems as if I have heard of one upstart alternative to the CFA.  Another exam sequence.  I can't find any information on this now. Does anyone know anything about this?
:There is one called the LIFA.  Its three years but they offer a waiver if you have the CFA charterMontco 00:31, 3 December 2006 (UTC)
thread_title:  Alternatives to the CFA 

message: any one who knows a lot of information about the that —The preceding unsigned comment was added by 61.17.193.95 (talk) 12:22, 8 February 2007 (UTC)
replies: text: The "CFA" issued by the Indian Institute is offered as that because they lose a lawsuit to the CFA Institute over the name.  That "CFA" has nothing to do with this designation.  Montco 04:50, 9 February 2007 (UTC)
thread_title:  Is CFA is Renamed as MS-Finance of (ICFAI) 

message: Although the stated curriculum is at the masters level, the first two exams are based on a multiple-choice format and historically some candidates have prepared for—and passed—the exams using only the study notes provided by third-party vendors, such as the Schweser Study Series..  
* I'm removing the second half of this statement.  The reference makes no mention of Schweser, which makes me think this is just spam.  In addition, the mention of "some candidates" is a weasel phrase.  If someone can find a reliable source that mentions the actual proportion of candidates that pass without a master's, cite and reinsert.  - 134.174.174.181 (talk) 17:34, 19 February 2008 (UTC)
thread_title:  Some have passed without a masters 

message: Hi,
The CFA offered by the CFAI is not certainly recognised worldwide. In UK, you cannot use the the designation CFA if you have passed out fron this American institute. Similarlu, if you are from India, you cannot apply to Governmental jobs which ask for a CFA Charter. These should be incorporated in to this article. Shovon (talk) 18:42, 5 May 2008 (UTC)
thread_title:  CFA is NOT a worldwide charter 

message: Are we comfortable with the comments regarding the relationship (or lack thereof) with the Indian CFA? I'll wait for someone to provide a reliable source but I'll remove the comment if one doesn't show up. Zain Ebrahim (talk) 10:27, 15 August 2008 (UTC)
replies: text: Okay, I removed it. Zain Ebrahim (talk) 12:02, 16 August 2008 (UTC)
thread_title:  Indian CFA 

message: (1)’’’A PATENT FOR C.F.A
 
Well. First & foremost there are certified public accountants & there are certified management accountants in the united states of America & also in other countries.(please see the section of certified public accountants in wikipedia itself to see how many countries offer this qualification)( also see for chartered accountants).
Now think if the American institute of certified public accountants tries to get a patent that it can only offer certified public accountant designation because perhaps it used it first & all other countries will be forced to use its services & follow its rules to run their own financial system & had to rewrite all their domestic financial legislations to reflect those prescribed by the American CPA ...........................................IMAGINE THAT.............................
Every country has a unique financial system, thus requiring qualified financial professionals who understand the system & operate in it. That’s the reason why every country has its own statutory qualification for the accounting profession 
The same can also be said about the investment industry. the investment industry in India is different from that of the United states, thus the need for independent finance & investment qualification,CFA from ICFAI does just that.
As regarding the American CFA being A truly international designation :- well to be truly called international, a  programme must accommodate the uniqueness of each financial system, where its designation holders seek to operate, in addition to the international laws & treaties, that govern international trade & investment. Needless to say the American CFA does not satisfy this criterion. It only accommodates American domestic financial legislations Plus international legislation
(2)Any Statutory qualification in finance & related field (given in a country) can be broadly divided in two parts 
(a)The basic knowledgebase of different subject’s relating to accounting. Security analysis, portfolio management, management accounting, project management & the like. There is not much difference in what in taught in this country to what is taught in another.
(b)The legislative Part, i.e. the laws regarding accounting Disclosers , the prescribed methods of book keeping, income tax laws, investment related laws, foreign exchange related laws etc.Those differ from country to country
Anybody who has done the American CFA or at least knows about the curriculum will be able to say that, the programme only contains legislation part that governs within the United States.
It is verifiable from the detailed curriculum of both programmes (Indian CFA as well as American CFA) that there is not much difference in the basic subjects taught
(3) So CHARTERED FINANCIAL ANALYST'''
Well let’s see what did countries of the world do when there was no CFA institute .Was there no financial analysis. As far as history goes the accountants did the job. Till the financial systems grew to vast proportions & work became too complex thus requiring specialists. Today MBA's ,Accountants,& other finance related professionals also do this job 
So the CFA institute did not invent FINANCIAL ANALYSIS.INSTEAD WHAT  IT WANTS IS TO  INSTITUTE & REGULATE THE  PROFESSION  IN INDIA & ELSEWHERE (In its own admission before the Delhi high court ,and wants to earn the right to do so under a trade protection law)
 NEXT:- CHARTER
Lets understand the meaning of the word charter ( the reader will do a great deal of good to himself/herself if he/she looked up for this word in wikipedia itself or in any good English dictionary.)
  
A charter draws its strength from a sovereign legislative authority, like a countries parliament. So it not uncommon if some one asks by who (in case the country is ruled by king or queens) on by which legislature (in case the country is governed by a parliament) when you say that I am a chartered accountant or a chartered management accountant etc.     
So when is such a charter given to a profession ?When it is intended to regulate it , for the public good (wheather the word charter is used or not)
Example:- 
Doctor /surgeon
Lawyer
Accountant
So what does the process of regulating a certain profession constitute?
Constituting what & how much the body of knowledge of an individual in this profession should be.
Determining what should be the competency level of the certain individual.Regulating the conduct of the certain individual, during the course of his/her practice.
AND ALL THIS HAS TO BE DONE FOR THE PUBLIC GOOD
'(4)'SO HOW DID THE AWARD'ING OF CHARTER IN ACCOUNTING PROFESSION COME ABOUT.
When the business around the world were not so complex there were different methods of book keeping in practice usually within the same country or even within a same locality. When businesses grew complex & governments needed uniform tax bases to collect taxes, they encountered this problem (non uniform accounting methods & practices). Hence in order to address this they prescribed uniform accounting methods that were enforced by legislation & had to be mandatorily followed.
Now since the body of knowledge of accounting is vast & complex & not everybody can be expected to be academically sharp enough to learn them/the legislators themselves could not create or moderate the body of knowledge .The legislative bodies had to institute authorities to prescribe & moderate uniform practices ,Train & examine individuals & confer designations of say "Chartered Accountants” to them .
A chartered Accountant is thus given an authority by a legislative body (parliament) to carry out the profession of accountancy. Every business functioning within the jurisdiction of the respective legislative body has to follow the prescribed accounting methods & get their account books audited by a chartered accountant.
    
(5) PATENT
    
In reality the CFA institute is seeking a Service mark protection(US law).According to United states law , such a mark has to be in use in commerce.Thus making it necessery to register it in order to stop infringement by compititors.(see for service marks in wikipedia)
   
So CFA institute is a commercial service organisation. It has not been instituted by a legislature of any Sovereign country .It does not have any authority to prescribe ,moderate or regulate any establish practice of financial analysis. 
NOW THE BIG QUESTION
     
 So what does it mean to give patent protection to CFA institute?’’
 
Countries around the world have seeked to regulate, moderate & streamline the accounting profession as & when they have felt the need to do so, by bringing in appropriate legislation .They have created appropriate bodies that do this job for them & its members are awarded with charters to carry on their professions.
A CHARTER IS MORE ABOUT THE REGULATORY FEATURE OF A STATUTORY QUALIFICATION(LIKE CHARTERED ACCOUNTANT  IN THE U.K OR CPA IN UNITED STATES)RATHER THAN QUALITY.HOW DO YOU DISTINGUISH BETWEEN A M.S ACCOUNTING FROM LONDON SCHOOL OF ECONOMICS FROM A CHARTERED ACCOUNTANT WHO IS A MEMBER OF THE THE INSTITUTE OF CHARTERED ACCOUNTANTS OF  ENGLAND & WALES
So when CFA institute comes in & asks For a Patent protection for the designation” Chartered Financial Analyst". The effect is  that via this patent protection the ability of the Parliament or a legislative body is impaired of its authority to create an appropriate body to regulate & stream line any body of functionalities in the realm of finance & investment, if at all it feels the need/as & when it feels the need (within the political & geographical limits of its jurisdiction)
Any attempt to create such a body & awarding charters to its members will come in the way of the patent protection Granted to the CFA institute  
   
Now alternatively can the CFA institute be asked to perform/ can perform this function of prescribing, moderating & regulating the finance & investment related laws, &  prevalent practices of each & every country where it seeks patent protection .I don’t think so.
Any way the legislators of the countries who have given such a protection to the CFA institute have to think about it.    
 
The Indian CFA  From the Institute of chartered financial analysts of India,is as of today being actively considered for giving of legislative backing by the indian parliament.
As & when that happens it will have the authority to institute & regulate the CFA profession in india
Ash sbp (talk) 06:22, 29 August 2008 (UTC)
thread_title:  lets know some details of the American CFA ,the charter & the Indian CFA 

message: According to the CFA website, it says that one needs a four year bachelor degree OR four years relevant work experience.  This article says AND four years work experience.  Which one is true?
If you read the CFA website closely (they don't make it easy), it says that you need either/or for ENTRY into the program. But in the membership requirements (to get the charter) it says you need a degree (or equivalent, as per CFA Institute's  judgment) AND 48 months. See http://www.cfainstitute.org/cfaprog/charterholder/membership/member_types.html
As someone who has gone through the process (an who knows many others who have, as well), I can say with certainty that it is an AND situation, not an or situation. While it may technically be possible to have the CFA Institute deem 4 years of work experience as a degree equivalent (very doubtful) and also give those same 4 years to the candidate as credit for the work experience requirement, I have never heard of that being done, it does not say that the Institute will, and I doubt that they would. Since the website is not abundantly clear, the article must reflect both what it ultimately says (AND) which fortunately mirrors normal policy.  —Preceding unsigned comment added by 76.14.67.251 (talk) 19:21, 19 June 2009 (UTC)
thread_title:  Work experience requirement 

message: I wondered whether the CFA is theoretically oriented toward personal finance advisors; I know it has become a desired requirement for corporate finance, but which demographic does its design aim for it to serve?  — Preceding unsigned comment added by 137.132.3.9 (talk) 02:24, 1 December 2012 (UTC)
thread_title:  Personal finance or corporate finance - intentions?