There are six types of membership in CFA Society Iowa:
- Regular (includes CFA Institute membership)
- Affiliate (includes CFA Institute membership)
- Retired (includes CFA Institute membership - to change your status to "retired," contact firstname.lastname@example.org)
- Local professional (local society membership only)
- Candidate (local society membership only)
- Student (local society membership only)
Regular and affiliate memberships are administered through the CFA Institute and require CFA Institute membership.
Local professional, candidate and student memberships are administered by the local society. These members may upgrade their memberships at any time provided the requirements of regular or affiliate membership are met.
You do not need to be a charterholder to be a member of CFA Society Iowa or the CFA Institute. While it is a requirement to become a CFA Institute member prior to receiving your charter, you may do so at any time at the regular or affiliate levels, based on your work experience.
Candidates are not automatically members in the CFA Institute and/or the local society, but they are eligible for membership.
The table below provides more detail regarding the requirements for each membership type.
|Membership in CFA Institute||X||X|||||||
|Provide ONE sponsor, who is either a Regular Member of CFA Institute OR a professor||||||X|
|Provide TWO sponsors -- one who is a Regular Member of CFA Institute AND one who is a supervisor**||X||X||X||X|
|Sign and submit the Member's Agreement and the Professional Conduct Statement***||X||X||X||X||X|
|Adhere to the
Code of Ethics and Standards of Professional Conduct||X||X||X||X||X|
|Complete any additional application procedures or requirements established by CFA Institute ||X||X|| || |
|Have 48 months of approved work experience and pass Level 1 of CFA Exam or the Standards of Practice Exam**** ||X|| || || |
|Have less than 48 months of work experience****||||X|||||||
|Hold a bachelor's degree from an accredited institute or have equivalent education and work experience ||X||X||X||X|||
|Be engaged in, or seeking, relevant professional work at the time of application||||X||X|
|Be registered for Level 1, 2 or 3 of the CFA Exam or have an active candidate number||||||||X|||
|Be currently enrolled as a full-time student at an accredited academic institution||||||||||X|
* Includes retired status.
** The supervisor sponsor requirement is waived if the applicant is the principal of the firm, a student, retired, self-employed or unemployed, or if providing a supervisor sponsor places the applicant in a difficult professional position. In these cases, applicants must provide another sponsor who is also a regular member of CFA Society Iowa (e.g., a total of two charterholder sponsors, one of whom is a member of CFA Society Iowa).
*** This is an annual requirement. There is a Personal Conduct Statement (PCS) included in the Membership Application document, and you will receive a current PCS to fill out and return to CFA Society Iowa each year during the annual renewal process. View the CFA Institute perspective on Professional Conduct Statements.
**** Qualifying work experience is defined as work with activities that consist to a majority extent of:
- 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 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 diversified, securities-oriented investment portfolio; or
- Supervising, directly or indirectly, person who practice such activities; or
- Teaching such activities.
Learn more about how the CFA Institute defines qualifying work experience.