Friday, August 18, 2006

CFA Level 3

I passed the CFA Level III exam in June. I've already had my experience verified and approved, so I should get the CFA charter in the next batch in September.

5 comments:

yync said...

Hi, I'm wondering if pension/ benefits consulting experience would meet the CFA experience reqirements for Charterholder?

Thanks,
Y

ALD said...

It is my understanding that actuary is not among the acceptable jobs.

Here's the information on Work Requirements from the CFA Institute website:
http://www.cfainstitute.org/cfaprog/requirements/workexperience.html
http://www.cfainstitute.org/cfaprog/requirements/samplejob.html


Quote:
Acceptable professional work experience as it relates to applicants seeking to become charterholder members, or regular members, includes activities that consist to a majority extent of:

(i) evaluating or applying financial, economic, and/or statistical data as part of the investment decision-making process involving securities or similar investments, which includes, but is not limited to, publicly traded and privately placed stocks, bonds, and mortgages and their derivatives; commodity-based derivatives and mutual funds; and other investment assets, such as real estate and commodities, if these other investment assets are held as part of a diversified, securities-oriented investment portfolio; or

(ii) supervising, directly or indirectly, persons who practice such activities; or

(iii) teaching such activities.

I was able to get my charted because I was grandfathered under the old rule (which DID include actuary as an acceptable job) and which applies in the following situation...

if you became a candidate before the 2005 exam cycle, have passed Level I [in 2005 or earlier], and become a regular member by 1 July 2007 [not sure if this required you to pass level 3 by June 2006 or if there is still a chance for those who pass in June 2007 since grades don't come out until after 7/1/07]

ashish said...

hey congrats
could u tell me about the details
of ur preparation!!
I guess u can write a post about it !
please drop a mail to mail.ashihstiwari@gmail.com
informing abt post.
Thanks,
Regards,
Ashish

ALD said...

My primary study materials were the Schweser Study Manuals. I bought all the required textbooks, but I used them only for reference where the study manuals were unclear or incomplete.

Also, in addition to the sample exam book that comes with the study manuals, I bought the supplementary sample exam book. Practice, practice, practice.

ALD said...

I wanted to update these comment to note that actuarial work is once again among the acceptable experience for obtaining the CFA charter.