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 Join the CFA Research Challenge Today

Each Research Challenge season leverages the efforts of over:


Member Volunteers



CFA Member Societies







What it is

The CFA Institute Research Challenge is an annual global competition that provides university students with hands-on mentoring and intensive training in financial analysis and professional ethics. Each student will be tested on their analytic, valuation, report writing, and presentation skills. They gain real-world experience as they assume the role of a research analyst.

How it Works

Local level competitions are organized and judged by CFA Institute Society members and volunteers who function as local hosts.

The winning university team from each local competition advances to one of the three regional competitions.

The regional and global competitions are hosted by CFA Institute in the Americas; the Asia Pacific; and the Europe, Middle East, and Africa regions. The winning teams from each regional competition advance to the Global Final, where one team emerges as the global champion.

How to Get Involved

The Research Challenge provides all participants – both individuals and organizations – with incredible opportunities to get involved.

  • Students: Find out if your university participates by asking your professor, our Society, or checking the participating universities list.
  • Universities: Form your team and give students the opportunity to compete against their peers and gain real-world experience.
  • Employers: Become a judge, mentor, grader, speaker, or corporate sponsor.

The 2021 Research Challenge Subject Company: Mercury Insurance (NYSE - MCY)

  • Mercury is the leading independent agency writer of automobile and home insurance in California and is ranked as the fourth largest private passenger automobile insurer in California overall, with total assets over $5.9 billion. Mercury also writes automobile and home insurance in Arizona, Georgia, Illinois, Nevada, New Jersey, New York, Oklahoma, Texas and Virginia, as well as automobile insurance in Florida. In addition to automobile insurance, Mercury writes other lines of insurance in various states, including business and mechanical protection insurance.

    Since its formation in 1961, Mercury has provided customers with tremendous value for their insurance dollar by pairing ultracompetitive rates with excellent customer service. This is one of Mercury’s core values, and it’s helped the company earn A ratings from A.M. Best and Fitch, as well as recognition from Forbes as one of “America’s Most Trustworthy Companies.
  • Website:
  • Founded: 1961
  • Fulltime Employees: Nearly 4,500
  • CEO: Gabriel Tirador

Learn more about the Research Challenge with our 2021 Kickoff Documentation

2021 Sponsor: Kaplan Schweser


To join the Research Challenge or for more information, contact us at:

Participating Universities

<a href="" target="_blank">California Baptist University</a>
<a href="" target="_blank">La Verne University</a>
<a href="" target="_blank">Chapman University</a>
<a href="" target="_blank">California Polytechnic State University, Pomona</a>
<a href="" target="_blank">California State University, Long Beach</a>
<a href="" target="_blank">University of Redlands</a>
<a href="" target="_blank">University of California, Riverside</a>