UMBS CFA® Track

Session Outline Overview of CFA Program Who Should Consider CFA and Why Resources and Tips for Taking CFA at UMBS

What is the CFA Program? The globally recognized professional certification in the field of investment management. Administered by Association for Investment Management Research (AIMR). Over 50,000 CFA charterholders. Over 100,000 enrolled for 2002 examinations.

What Does the CFA Program Involve? A three year self-study curriculum with three annual examinations (Levels I through III). Curriculum covers: Ethical and Professional Standards Quantitative Methods Economics Financial Statement Analysis Corporate Finance Analysis of Equities, Fixed Income and Derivative Securities Alternative Investments Portfolio Management

Time Line Register September Through March Exams on First Saturday of June Results in August

Registration Requirements Must have a US bachelor’s degree or comparable by the end of examination year (i.e., to take Level I in June of 2003, must earn degree by December of 2003) Complete registration form Pay required fees ($725 before December 16, $1,025 before March 17)

Who Should Take the CFA Program Strongly Recommend: Investment Research Portfolio Management Financial Advisory/Wealth Management Recommend: Corporate Financial Analyst Other Corporate Finance/Treasury Sales & Trading Investment Banking Corporate Financial Consulting

MBA vs. CFA: Complements, not Substitutes Global standard Focus on narrowly defined set of technical skills Body of well-established knowledge High failure rate (self motivation indicator) MBA Differentiated, customizable program Focus on general management skills Leading edge curriculum

Recommended Courses (MBA) Level I FIN 551, FIN 553, FIN 580, FIN 608, FIN 609, (FIN 613) ACC 501, ACC564, SMS 502, BE 501, BE 560 Level II FIN 615, (FIN 618), ACC 712, (ACC 624), STAT 561 Level III ACC/FIN 725 Ethical/Professional Standards and Alternative Investments Not Covered Above

Recommended Courses (BBA) Level I FIN 300, FIN 310 ACC 271, ACC312, SMS 301, BE 300 Level II ACC 318 Level III ACC/FIN 335 Ethical/Professional Standards, Derivatives and Alternative Investments Not Covered Above

Additional Resources Study guide outlines and required texts for all three levels available in Tozzi Center Schweser study guides for all three levels will be available in Tozzi Center in December (Study group sign-up schedule January through April) (Review course on ethics/professional standards, alternative investments and exam tips in late April)

Tips Learn the material in the recommended courses very well. These are single, closed book comprehensive examinations with failure rates in excess of 50%. Start studying early (January at latest) and pace yourself. Keep a copy of Standards of Practice Handbook next to your bed. Start using a CFA approved calculator Texas Instruments BAII Plus Hewlett-Packard 12C

Information Sources http://www.aimr.com/cfaprogram/ http://www.schweser.com/

Questions