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.


yync said...

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


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:

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
informing abt post.

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.