Mercury launches revision programs for prestigious CFA qualification
Wednesday, 4 September 2013 00:00
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Mercury Institute of Management ushers in a new era for professionals in the capital market, by offering the Chartered Financial Analyst (CFA) qualification to Sri Lankan students.
CFA (Chartered Financial Analyst) is a globally recognised qualification that provides a strong foundation of real-world investment analysis and portfolio management skills along with the practical knowledge one needs in today’s investment industry. It also emphasises the highest ethical and professional standards.
Enrolments are now on for the Level 1 of the June 2014 examination for which classes will commence this November 2013. Candidates who are undergraduates and graduates (BSc., BCom., BBA) and who are after CIMA, ACCA, CA, CMA, CIM and other fields such as IT and engineering are eligible to apply for the qualification. One could also have four years qualified professional work experience or have a combination of work and academic experience that totals four years.
Mercury is currently the only institute which provides the CFA calculator free of charge to all students upon enrolment and due to the complex nature of the financial calculator they even provide a special calculator session for all enrolments. Revision programs for Level 1 December 2013 commences in October 2013, whilst revision classes for Level 2 June 2014 will commence in January 2014.
The CFA exam is a tough challenge to qualify. CFA institute does not divulge the pass mark and is based on a non-disclosed calculation. Hence the norm is to have an overall pass mark of 70% and above to cross the hurdle. This displays the intensity of the exam and thus increases its value as a credential.
Completing the CFA qualification therefore confirms a mastery of the rigorous CFA curriculum, which signifies passing all three exams, and is one of the requirements for earning the CFA charter. A candidate who successfully completes the program and shows industry experience of four years is awarded a ‘CFA Charter; and becomes a ‘CFA Charter Holder’.
Employers recognise that CFA Charterholders have a broad investment perspective and an understanding of the global marketplace. Hence it has been proven in the Wall Street that CFA Charter Holders are at an upper salary scale compared to its counterparts.
Speaking of the level 1 qualification Thilina Ukwatta, lecturer and CFA Program Coordinator of Mercury Institute, stated: “From my personal experience, I would say that candidates who have passed the CFA Level 1 exam gain a clear competitive advantage ahead of many others. It’s not so much about the fact that you passed that one exam but rather about the employer getting a young and very motivated candidate. While they will obviously aspire to hire candidates who have finished the three exams, they would prefer anyone who has passed level 1 and seems motivated about passing all the exams.”
Mercury’s size controlled weekend classes provide one-to-one learning programs for students, which in turn aids them in terms of receiving focused lecturer attention. They also possess a team of exceptionally gifted lecturers who all come from a CFA background and are experienced personnel from the industry. The teaching methods adopted by the institute includes a structured approach in teaching and study methods geared for exam success such as, full coverage of syllabus, followed by revision at the end of each session. CFA recommends minimum 250 hours of study, where Mercury provides 220 hours of theory and 80 hours of revision.
Ukwatta concluded: “Many CFA charter holders find that it has provided them with an opportunity for working within numerous investment specialties and markets around the globe. Therefore if you want to have international recognition and mobility within the financial world, then you really should be doing CFA as employers recognise it as the definitive standard by which to measure the competence, integrity, and dedication of serious investment professionals.”
Mercury too has taken an initiative to grant special discounts to winners of the CFA Scholarship and more information can be obtained via [email protected].
