UMBS CFA Track

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UMBS CFA Track
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Session Outline

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

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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.

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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

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Time Line

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

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Registration Requirements

• Must have a US bachelors 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)

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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

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MBA vs. CFA Complements, not Substitutes

• CFA
• 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

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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

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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

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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)

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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

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Information Sources

• http//www.aimr.com/cfaprogram/
• http//www.schweser.com/

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Questions