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CFA Institute, the global association of investment management professionals, announced that for the June 2018 exam a record 227,031 candidates had registered for Level I, II, and III CFA® exams at 286 test centers in 91 countries and territories. The exams were administered on June 23, and mark the 55th anniversary of the first CFA exam, which was held in June 1963. Sinc​e then, the CFA Program has seen steady annual growth, with a notable 20% increase in exam registrations in the past year alone. CFA Society Louisville is pleased to announce that we had 20 successful Level I candidates, and 12 successful Level II candidates with Level III results still pending.​

CFA Institute has more than 154,000 charterholders who work in some of the industry’s most prominent firms, including JP Morgan Chase, UBS, RBC, Bank of America ML, HSBC, Wells Fargo, Morgan Stanley, Citigroup, BlackRock, Credit Suisse, and State Street. The CFA Program curriculum is grounded in the practice of the investment profession and is updated annually to reflect the evolving knowledge, skills, and competencies that are needed in today’s profession. The three-level self-study program covers topics including Ethical and Professional Standards, Quantitative Methods, Economics, Financial Reporting and Analysis, Corporate Finance, Equity Investments, Fixed Income, Derivatives, Alternative Investments, and Portfolio Management and Wealth Planning.

Each level of the CFA Program imparts a particular skill set:

  • Level I is focused on investment tools and the foundations of the business, giving candidates the necessary knowledge and comprehension;
  • Level II is focused on applying those tools in the analysis of asset classes, including equity investments, fixed income, derivatives, and alternative investments;
  • Level III is focused on portfolio management and wealth planning, requiring candidates to be competent in synthesis and evaluation while making investment decisions.

In 1959, the Financial Analysts Federation (FAF) formed the Institute of Chartered Financial Analysts (ICFA) to establish standards of ethics and competence for security analysts, develop the exam, and bestow the title of Chartered Financial Analyst® (CFA) on those who passed. The FAF and ICFA eventually merged to form what is now known as CFA Institute. On June 15, 1963, the inaugural exam was administered at 27 test centers in the United States, Canada, and London to 284 candidates, six of whom were women. Today, over 84,000 (37%) candidates are women.

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