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#31
09-29-2007, 06:26 PM
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Re: Ask me about the CFA program
[ QUOTE ]
[ QUOTE ] the CFA program is something i've been undertaking lightly. passing the first exam was a breeze, and my background in finance before picking up the stalla prep CDs was practically zero. i imagine level ii and level iii will be more difficult (though probably still easy), but is it worth the effort? [/ QUOTE ] And I'm the one bragging? I've heard of people breezing through the first exam by putting in little effort, but I think you're the exception to the rule. I haven't heard of anyone breezing through the second or third exams. Yes, it was worth the effort for me. [/ QUOTE ] Actually it's the other way around. It's impossible to pass the first exam without at least cramming for about a week or so because of the sheer amount of arbitrary terminologies being introduced. You can, however, pass the second exam without studying at all if you have fully absorbed the material from the first exam, because most of the new material being introduced is logically sensible (thus derivable during the exam). 
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#32
09-29-2007, 07:13 PM
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Re: Ask me about the CFA program
[ QUOTE ]
[ QUOTE ] i have an MBA and am fine w/ the maths etc., but what is the deal with having to get somebody to sponsor you? i have a few people in mind but am curious as to how that works. also, i looked at the paperwork and it seems pretty intensive. i'm sure i'm going to be in the investment analysis profession for a good long time. Barron [/ QUOTE ] I don't see much downside for someone who's planning on being investment management/analysis indefinitely since there isn't much material that you shouldn't know anyway. Once you understand the basics and nomenclature, most of the rest is applying logic and common sense. [/ QUOTE ] how much work would learning the required accounting material for the exams be for someone with absolutely no exposure to any accounting in the past?
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#33
09-29-2007, 07:28 PM
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Re: Ask me about the CFA program
[ QUOTE ]
it is a median salary though, i'm sure the 10th percentile or so make a lot more. [/ QUOTE ] obv i meant 90th. woops.
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#34
09-29-2007, 07:34 PM
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Re: Ask me about the CFA program
[ QUOTE ]
how much work would learning the required accounting material for the exams be for someone with absolutely no exposure to any accounting in the past? [/ QUOTE ] i can only speak for level I (though i don't think there's much accounting material beyond level I). i think if you were to spend a solid day or two studying the material, you'd have no problem passing if your knowledge of the rest of the material is strong.
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#35
09-30-2007, 03:49 PM
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Re: Ask me about the CFA program
[ QUOTE ]
[ QUOTE ] [ QUOTE ] the CFA program is something i've been undertaking lightly. passing the first exam was a breeze, and my background in finance before picking up the stalla prep CDs was practically zero. i imagine level ii and level iii will be more difficult (though probably still easy), but is it worth the effort? [/ QUOTE ] And I'm the one bragging? I've heard of people breezing through the first exam by putting in little effort, but I think you're the exception to the rule. I haven't heard of anyone breezing through the second or third exams. Yes, it was worth the effort for me. [/ QUOTE ] Actually it's the other way around. It's impossible to pass the first exam without at least cramming for about a week or so because of the sheer amount of arbitrary terminologies being introduced. You can, however, pass the second exam without studying at all if you have fully absorbed the material from the first exam, because most of the new material being introduced is logically sensible (thus derivable during the exam). [/ QUOTE ] Not sure I agree with this statement at all. Level 1 is all but a survey class, where L2, at least with accounting, I doubt anybody can walk in and pass w/o studying the materials.
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#36
09-30-2007, 08:03 PM
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Re: Ask me about the CFA program
[ QUOTE ]
[ QUOTE ] [ QUOTE ] i have an MBA and am fine w/ the maths etc., but what is the deal with having to get somebody to sponsor you? [/ QUOTE ] I could be wrong, but I'd thought that you can receive your CFA charter without sponsorship. It's when you try to join a member society, the CFA Society of Chicago for instance, that sponsorship is required. I'm not really sure why that's a requirement. I didn't really think about it because my old boss sponsored me and it required almost no effort on his part. I don't have a lot of time this weekend so I'll hit most of the replies on Monday. [/ QUOTE ] Dang, am I the only actual charterholder here? [img]/images/graemlins/wink.gif[/img] And yes you do need sponsorship - it's for joining the member society but you're required to join in order to receive the charter (but you're not required to stay a member). [/ QUOTE ] how does the sponsorship thing work? do i just call my friend and say "hey, sponsor me?" what does he have to do (obv hed' know lol) Barron
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#37
10-01-2007, 07:18 AM
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Re: Ask me about the CFA program
[ QUOTE ]
[ QUOTE ] [ QUOTE ] [ QUOTE ] i have an MBA and am fine w/ the maths etc., but what is the deal with having to get somebody to sponsor you? [/ QUOTE ] I could be wrong, but I'd thought that you can receive your CFA charter without sponsorship. It's when you try to join a member society, the CFA Society of Chicago for instance, that sponsorship is required. I'm not really sure why that's a requirement. I didn't really think about it because my old boss sponsored me and it required almost no effort on his part. I don't have a lot of time this weekend so I'll hit most of the replies on Monday. [/ QUOTE ] Dang, am I the only actual charterholder here? [img]/images/graemlins/wink.gif[/img] And yes you do need sponsorship - it's for joining the member society but you're required to join in order to receive the charter (but you're not required to stay a member). [/ QUOTE ] how does the sponsorship thing work? do i just call my friend and say "hey, sponsor me?" what does he have to do (obv hed' know lol) Barron [/ QUOTE ] Barron, you don't need sponsorship until you apply for membership. You don't need to be a member to sign up for the CFA program, unless your local society has lots of good events for you to go to. I can sponsor you, but not sure you want to join the L.A. society. NYSSA is packed with events, let me know if you have a difficult time finding somebody from NYSSA. And all the sponsor has to do is fill out a form, takes no more than 30s.
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#38
10-01-2007, 08:23 AM
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Re: Ask me about the CFA program
How strict are they with the job experience? For example, my current title is "Securities Analyst" but I don't do anything close to researching stocks. The actual job function I can think of that would most qualify me would be reading CMO prospectuses to determine bond waterfall payment. Would that be enough to qualify me?
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#39
10-01-2007, 09:33 AM
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Re: Ask me about the CFA program
[ QUOTE ]
how does the sponsorship thing work? do i just call my friend and say "hey, sponsor me?" what does he have to do (obv hed' know lol) Barron [/ QUOTE ] You need two sponsors, one of whom has to be your current supervisor (he does not have to be affiliated with the CFA Institute) and the other has to be a member, I believe, of the local society you're applying to. All they have to do is pretty much fill out a short form, most of which amount to basically saying that you didn't lie and probably won't cause a lot of trouble in the future or something like that. This can be done after you pass all three exams.
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#40
10-01-2007, 09:35 AM
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Re: Ask me about the CFA program
[ QUOTE ]
How strict are they with the job experience? For example, my current title is "Securities Analyst" but I don't do anything close to researching stocks. The actual job function I can think of that would most qualify me would be reading CMO prospectuses to determine bond waterfall payment. Would that be enough to qualify me? [/ QUOTE ] It should be. CMO is an investment and your job is analyzing investments.
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