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KICKOFF
Wien, 28. April 2010
Vereinsgeschichte
 Gründung März 2001
 Die 101. lokale „Society“ des CFA Institutes
 Rasches Wachstum von 15 auf mittlerweile über 250 Mitglieder
 Pro Jahr zwischen 20 und 40 neue Charterholder
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Mitglieder
Aktuell: 259 Mitglieder
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Mitgliederprofil
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Ziele und Aktivitäten
 Informationsaustausch zwischen den Mitgliedern
 Continuing Education Program (zweimal im Monat) – CFA Austria ist
ein „approved provider“
 Netzwerk – Service für Mitglieder (einmal im Monat CFA Austria
Stammtisch)
 Kickoff – Event
 Candidates – Night
 Charterverleihung in einem feierlichen Rahmen
 Anzeige für die neuen Charterholder
 Social Events (Eisstockschießen, Weinverkostung,…)
 CFA Austria Prize
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Advertisement in “Die Presse”, June 30, 2009
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Internetadressen
 http://www.cfaaustria.org/
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CFA Austria Prize on www.e-fundresearch.com
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CFA Austria Employer Job Service
Einmalig Euro 500 (anstatt
Euro 2.000 für 12 Jobs).
CFA Austria stellt den Kontakt
zwischen Stellensuchern und
Personalsuchern her
Stellenangebote an CFA
Austria Mitglieder (über 250)
und CFA Candidates (427) in
Empfang nehmen und dem
Vertragspartner übersenden.
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E-mail-Adressen
Email:andreas.schuster@hypocapital.at
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CFA Program
 Prüfung immer letzter Samstag im Mai oder erster Samstag im Juni
 seit Dezember 2003 auch im Dezember, aber nur Level I und nicht
überall in Europa
 http://www.cfainstitute.org/cfaprogram/
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Internetlinks
 http://www.cfainstitute.org/cfaprogram/overview/Pages/index.aspx
CFA Program Overview
 https://www.xing.com/net/cfa/
Forum zur CFA-Prüfung
 www.schweser.com
Skripten für CFA - Prüfung
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“Whereas there are tens of
thousands of finance degrees
available around the world, ranging
from the excellent to the worthless,
there is only one CFA… explosive
growth has made it, in effect, global
currency.”
-The Economist, 2005
Job Ads Around the World
CFA is a plus
London, UK
The Chartered
Financial Analyst
(CFA) designation
required
The Chartered Financial Analyst (CFA)
designation strongly preferred
What is
the CFA
Program?
A self-study curriculum with three
levels of examinations
Practical, relevant education
based on a practitioner-driven
global body of investment knowledge
Ethical and professional standards
emphasized at every level
Exam locations worldwide
Pass Level I, II, and III exams
Complete at least four years of
professional work experience
Provide professional references
(Level III)
Submit professional conduct
statement
Apply for CFA Institute & local
society membership
Initial
CFA® Charter
Requirements
A Practice Driven Process
CFA Program Candidate Body of Knowledge™
Exam
Format &
Sample
Question
Multiple
Choice
Item Set
(Objective)
Constructed
Response
(Essay)
Level I
●
100%
Level II
●
100%
Level III
●
●
50%
50%
The CFA Program is a Rigorous Undertaking
The CFA Program │ 22
Recognition
Strong international network
of local societies (130+) and
members (over 95,000)
Lifelong learning opportunities
through publications, conferences,
and local
society events
Benefits of
Earning the
CFA® Charter
■ A member organization with nearly 100,000
member investment professionals in over 130 countries
■ Administrator of the CFA Institute Code of Ethics and
Standards of Professional Conduct
Professional Excellence
CFA
Institute
Education
The CFA Program │ 24
Ethics
CFA Institute Members & Candidates
The Americas
Members: 65,800
Candidates:75,200
Europe, Middle
East & Africa
Members:16,100
Candidates: 44,300
Global
Members: 95,500 Candidates: 199,900
The CFA Program │ 25
Asia Pacific
Members: 13,600
Candidates: 80,400
As of 15 April 2009
Fee Schedule (December 2010)
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Important Dates
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Guideline Topic Area Weights
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Study Program
 read the indroduction of the study guide
 Starting Early ( one study session = one week)
 ethics material - more than once (entscheidend bei Prüfungen, die
zwischen positiv und negativ sind)
 LO - Learning Outcomes
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Curriculum
•
Each study session is designed for flexible, self-directed
study
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Each reading has learning outcome statements (LOS): ―The
candidate should be able to…‖
•
Readings are drawn from a variety of materials, both CFA
Institute and other
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Each LOS has one or more command words, which indicate
type of learning expected: ―discuss, calculate, contrast‖
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CFA Institute increasingly developing and publishing own
curriculum to meet unique needs
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LOS are NOT an exact proxy for examination questions, but
mastering LOS is the best study approach
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The Candidate Toolkit
 Website: www.cfainstitute.org/toolkit
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On-line Sample Exams
CFA Institute developed on-line sample examinations for Level
Level II and Level III (item set only)
Reliable — Designed by the source of the CFA exam, CFA
Institute. Consistent with current curriculum.
Realistic — Reflect actual CFA exam question formats,
topics, and level of difficulty.
Real-time — Immediate feedback after each question
Results — Overall performance results show strengths and
weaknesses with references for further study. Results
show that sample exam takers outperform all exam
takers by a significant margin.
Affordable — Minimal cost to measure your preparation for
the upcoming exam. $50 per exam.
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Test-Taking Strategies – Level I
• Read all errata prior to coming to exam.
• Morning and afternoon exam books/answer sheets
• Read all instructions, enter candidate ID number, sign
pledge
• Read entire question
• Eliminate obviously incorrect answers
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Test-Taking Strategies – Level I (cont.)
• Leave enough time
• Mark your answers on the answer sheet
• Start in your area of expertise. The questions are grouped
by broad topic area. This will help you build confidence.
• If it appears that a question is going to take you a long time
to answer, move on and come back to it when you have
finished other questions.
• Answer all questions – there is no penalty for guessing
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Test-Taking Strategies – Level III Essay Questions
• Do not overlook any questions or question parts
• Pay attention to minute allocations for time management;
minute allocations also reflect points allocated
• Don’t worry about language or grammar, you are graded on
content
• Answer questions in any order unless specifically instructed
otherwise
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Test-Taking Strategies – Level III Essay Questions (cont.)
• Pay attention to command words and number instructions
• Do not provide more than the required number of responses
• Partially inconsistent or illogical answers will NOT receive
full credit
• Answer the questions asked, not the question you WISH had
been asked
• Show all calculations and state any assumptions you think
are necessary
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Test-Taking Strategies – Level II and III Item Set
Questions
• Read entire vignette carefully
• Read each item carefully; eliminate obviously incorrect
answers
• Manage time wisely; each item set equals 18 minutes
• Answer all questions – there is no penalty for guessing
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Test-Taking Strategies – General
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Allocate time wisely
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Answer all questions
•
•
Answer the questions asked
Make a dry run of the examination day experience to
incorporate the actual examination schedule, and to
determine commuting time, parking availability, public
transportation schedules, etc.
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Ethics is the “tie-breaker” on tests that are on the cusp
of passing
• For those examinations that are in a narrow band around the
MPS, a candidate’s performance on ethics is the determining
factor.
• The BOG instituted this policy many years ago as an incentive
for candidates to place particular emphasis on ethics.
• This policy typically helps more candidates than it hurts.
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Austria – Pass Rates
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