As a holder of the CFA designation, I understand the commitment and persistence required to pass all three levels of the CFA program. While I was only required to take the second level, I know that all candidates must pass both levels to obtain this prestigious certificate. However, the good news is that the CFA Institute allows candidates to approach the study sessions in any order they choose. As a CFA candidate, it is important to maintain a strong ethical position and protect the intellectual property of the CFA Institute. While there are some readings in the Level 2 curriculum that were not covered in Level 1, they are generally accessible to most candidates.
The focus of these readings is mainly on bond valuation, with significant overlap between levels 1 and 2.The CFA Institute has confirmed the importance and completeness of their preparatory material, with 97% of candidates reporting that it improved their understanding of important areas of finance and 95% stating that it focuses on relevant areas for professional advancement (CFA Institute, CFA Program Candidate Survey Report, June 2015).The CFA designation opens up a variety of job opportunities, including portfolio manager, investment analyst, investment consultant, financial risk manager, investment data analyst, credit analyst, financial director, and financial trader. These roles can be found in investment management, private wealth management, commercial banking, investment banking, insurance, and emerging fields such as financial technology. While most of the ethics material in Level 2 is the same as Level 1, there is no coverage of GIPS and additional reading on research objectivity standards. Many employers in the financial sector list possession of a CFA designation or participation in the CFA program as an important criterion for employment. It is crucial for candidates to prioritize ethics, as the CFA Institute may refer to a candidate's qualification in this area for those who are considered marginal. The CFA Institute has over 160 societies in more than 80 countries and a membership of 190,000 from 160 countries.
Additionally, their online resources are only accessible through an approved CFA Institute preparation provider listed on their official website. The CFA program was developed by the CFA Institute (CFAI), which was founded in 1947 and is headquartered in the United States.
