CHARTERED FINANCIAL ANALYST^® Program

We would like to present to your attention the CFA Program. To become member of the Bulgarian CFA Society , you have to pass all the three levels which the CFAI requires in order to earn the right to use the CFA designation.

The CFA Program is comprised of three levels, each culminating in an examination. You must pass each level sequentially, and fulfill other requirements of the program, before earning the right to use the CFA designation. In general, each level of the program requires 250 hours of preparation, although time will vary from candidate to candidate based on familiarity with the material. The Level I examination is composed of multiple-choice questions, Level II is composed of item sets (multiple choice questions based on a common vignette), and Level III consists of essays and item sets. Global acceptance of the CFA charter has led to tremendous growth in the program over the past decade.

Since 1963, CFA Institute has administered over 570,000 CFA examinations and more than 64,000 investment professionals have earned the right to use the CFA designation. First awarded in 1963, the CFA charter has become known as the designation of professional excellence within the global investment community. The CFA Program’s self-study curriculum allows even the busiest investment professional to participate. More than 100,000 investment professionals from more than 150 nations enrolled for the 2003 examinations.
Around the world, employers and investors recognize the CFA designation as the definitive standard for measuring competence and integrity in the fields of portfolio management and investment analysis. The curriculum develops and reinforces a fundamental knowledge of investment principles. The three levels of examination verify a candidate’s ability to apply these principles across all areas of the investment decision-making process. And the program’s professional conduct requirements demand that both CFA candidates and charterholders adhere to the highest standards of ethical responsibility.

Successful completion of each of the three levels of the program represents a significant achievement in professional career development.The CFA designation is delivered to every candidate who has completed the CFA Program and it represents global standard of professional excellence. It is also an internationally recognized brand that attests to a charterholder’s success in a rigorous and comprehensive study program in the field of investment management and research analysis.
Accordingly, CFA Institute takes great effort to build a global perspective into the CFA Program’s curriculum and examinations. While candidates are responsible for understanding the principles that are common to any market, to earn the CFA charter they must develop simultaneously a working knowledge of those principles in a global investment context.
Global recognition of the CFA Program gives employers and investors an internationally relevant standard for measuring the competence and integrity of investment professionals. This recognition, in turn, provides CFA charterholders with a competitive advantage when implementing international investment strategies or pursuing clients or employment opportunities outside the country in which they currently work.

In the competitive, rapidly evolving profession of investment management, few achievements will say more about your commitment to knowledge and high ethical standards than earning the CFA charter. Employers who understand the dedication that the CFA Program requires often make the CFA charter an eligibility requirement for senior-level positions and frequently are willing to pay for their employees to participate in the program. Many investors include the CFA charter in the criteria they use to select the firms and individuals who manage their financial assets. The global investment community at large recognizes the CFA designation as a symbol of professional excellence.