Across both countries, nearly 1900 people sat the exam. It was administered in 40 countries around the world.
The pass rate for level one was 43%. Those who are successful progress to level two, where last year 46% passed. At level three, 53% were successful.
The CFA curriculum covers ethical and professional standards, securities analysis and valuation, international financial statement analysis, quantitative methods, economics, corporate finance, portfolio management, wealth management and portfolio analysis.
Jeff Stangl, President of CFA Society New Zealand, said the CFA process gave industry participants rigorously-monitored credentials.
“We are committed to developing future professionals with the necessary technical skills, knowledge, integrity and understanding of their mandate to put investor interests first.”
To earn the CFA designation, candidates must pass all three levels of exam, meet the work experience requirements of four years in the investment industry and sign a commitment to abide by the CFA Institute code of ethics.
It comes as increasing qualification requirements are put on financial advisers.
Previously, CFA Society past president David McCallum told Good Returns the New Zealand chapter wanted to grow its membership, which was mostly made up of people in fund management roles.
McCallum said the society’s long-term goal was to build its AFA membership. “CFA globally has that target. Historically it grew out of an asset management and institutional focus but we have identified that more and more over time the individual wealth advisers are very important and targeting that area is something that is of interest.”
AFAs would benefit from CFA status because the qualification required was a high standard, he said.
| « Compliance skills in demand | LVR restrictions to be reviewed » |
Special Offers
No comments yet
Sign In to add your comment
© Copyright 1997-2024 Tarawera Publishing Ltd. All Rights Reserved