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A few people have been asking about enrolling for the CFA program and I think I should just do a thread. All the information you need is online really but I’ll point you to where to look at and give a few advice.
First things first, don’t let social media pressure you into writing an exam you don’t need. Depending on what you are doing and what you plan to do, you might not need CFA. It’s expensive and time consuming so weigh your options well
It’s primarily for portfolio manager, Equity and Fixed income research analyst, Credit analysts and Treasury people.
-If you are in risk, Financial Risk Management (FRM) is a better option.
-If you are in risk, Financial Risk Management (FRM) is a better option.
-If you are planning to do IB, I think you are better off facing financial modelling and being excellent at it then plan to get an MBA later on.
If you work in a support role in a financial institution or work a lot with finance people but finance isn’t your core role e.g tech people, you can register for the short CFA course -investment foundations. It’s short and free https://www.cfainstitute.org/en/programs/investment-foundations
Like I said the exam is expensive. It’s in 3 levels.
There is a one time registration fee of $450.
Then each level is $700 for early registration and $1000 for standard registration.
There is a one time registration fee of $450.
Then each level is $700 for early registration and $1000 for standard registration.
There are a few scholarships you can apply for. There is the access scholarship. https://www.cfainstitute.org/en/programs/cfa/scholarships/access
I know a lot of people who have gotten the Access scholarship (it is a needs based scholarship so you have to demonstrate need). There are special scholarships for regulators, lecturers, women . Check here https://www.cfainstitute.org/en/programs/cfa/scholarships
Some companies will pay for your exam or refund you once you pass. So make sure to find out from HR. Or negotiate to have your learning and development budget for the year diverted towards your CFA exam.
The exams can now be taken multiple times in a year. Used to be once (2x for level 1) before but COVID has changed things. Check here https://www.cfainstitute.org/en/programs/cfa/exam/testing-schedule
The exam is time consuming. General recommendation is that you study for 300 hours and start studying about 6months to the exam. I was reading on and off for like a year cause COVID made them postpone my exam but I didn’t get serious until 2 months to the exam (I was unemployed)
A planner to help you track your time https://300hours.com/cfa-study-planner
There are a few tutorials / prep centers in Nigeria. Ranges between 190k to 250k. The only one I am familiar with is New frontiers. I self studied for L1 and passed well but different strokes.
You will also need a financial calculator. 30k -35k. I sell sometimes but currently out of stock. You can get from @khena__ too.
As for study materials: I used a combination of the CFA curriculum which you will get upon registration (soft copy), IFT Videos and Schweser notes
IFT offers a free package for L1 on their website and YouTube.
https://ift.world/product/june-free-package/
https://ift.world/product/june-free-package/
Another video tutorial provider is Mark Meldrum. You can check out his YouTube https://youtube.com/c/MarkMeldrumPhD
For support, I think it’s best you have a group of people also taking the exam. I had a study partner, study groups don’t work for me. So different strokes.
There is also a reddit page where different candidates around the world share ideas. r/CFA
There is also a reddit page where different candidates around the world share ideas. r/CFA
I can’t think of any other thing at the moment but I’ll add it to this thread when I do.
