CFA- Level 1

[NXD]

Thread này dành cho những bạn mới bắt đầu học CFA. Là nơi trao đổi kinh nghiệm lẫn nhau.

Tôi xin bắt đầu bằng trích dẫn từ CFA institute, ai nên học CFA

Who Should Register

Investment Professionals with a Commitment to Knowledge and Standards

Are you highly motivated and willing to take an active role in pursuing the skills you need to advance in your career?

Do you want a solid investment background and ethical grounding that will let you work anywhere in the world?

Join more than 110,000 candidates who work in nearly 200 different countries. The CFA Program develops investment professionals equipped with a broad foundation in globally relevant financial analysis skills and a world vision.

Do you have what it takes?

Candidate Profile:

Gender:
Male 75%
Female 25%

Age:
21-25 19%
26-30 40%
31-35 24%
36-40 10%
41-45 4%
46-50 2%
51-55 1%

Education:
Bachelor’s degree or higher 96%
Other 4%

Geographic Distribution:
Africa/Middle East 5%
Asia 5%
Canada 9%
China Mainland 7%
Europe 15%
Latin America 2%
Pacific Asia 21%
United States 36%

 

[NXD]

Each of the three CFA Exams is six hours in length, equally divided into a morning and afternoon session. Each session is a self-contained unit: i.e., one cannot answer morning session questions in the afternoon.

The Level I Exam consists of 240 multiple-choice questions, each of which is worth 1.5 minutes (or points). This should be considered an average time allotment, as some questions will take longer, while others will require less time. A perfect exam score is 360 points.

The Level II Exam consists of 120 item set questions, which are essentially multiple-choice questions based on a common vignette or problem. After reading each vignette, you will typically be asked six multiple-choice questions based on that specific case. At Level II, you will have roughly 3 minutes to complete each Level II item set. As with Level I, you will be required to have a firm grasp of how to apply the CFA Institute Code of Ethics and Standards of Professional Conduct in organizations, and you should also know how to apply the concepts you learned at Level 1.

The Level III Exam includes both essay and item set questions. You will have 180 minutes to answer 60 item sets and another 180 minutes to answer a variable number of essay questions. Essay questions may take a variety of forms, including calculations, short answers or templates. Calculations require candidates to simply apply the appropriate formula to solve a specific problem. Short answers may require selecting "yes or no" answers to specific questions, then writing several sentences to support the candidate's answer. Templates are often partially completed tables that require candidates to complete them by entering the missing information. (Note: Make sure to check if a template has been provided, as answers written outside the template will not be graded). As with Levels I and II, you will be required to have a firm grasp of prior exam concepts and how to apply the CFA Institute Code of Ethics and Standards of Professional Conduct in organizations.

 

[NXD]

Final Preparation Before Exam Day

FINAL PREPARATION BEFORE EXAM DAY

Start Releasing the Pressure. The CFA Exam places a lot of pressure on candidates. This pressure is positive when it provides an incentive to study and prepare well. However, pressure can become a negative force on exam day if it leads to anxiety and/or panic that adversely affects one's test-taking efficiency. Therefore, starting one or two weeks before the date of the exam, make a conscious effort to relieve the psychological pressure of the exam itself. In particular, try to reduce the feeling that passing this exam is akin to a "life and death" situation.

Something else that candidates can do to relieve anxiety is to visit the exam site one or two weeks before the exam date. Make sure you know how long it takes to get to the site, where parking is available and the exact location of the exam room. If you can, go into the exam room and get comfortable with the surroundings.

Remember that the dedication and commitment you devote to exam preparation now will make all the difference this coming June.

 

[NXD]

Study tips

THE GAME PLAN

Develop a Study Plan. The first step in starting your quest for the CFA charter is to develop a detailed study plan. There is a great deal of material to be mastered in a relatively short amount of time, so organizing your efforts is a critical success factor. When developing a study plan, it is important to keep in mind that the unexpected often disrupts our original intentions. Therefore, it is also important to periodically review and adjust your study plan so that course corrections and intelligent compromises can be made when appropriate. The scope of the exam and the sheer volume of material can seem overwhelming, but setting up a sound study plan at the beginning and making reasonable adjustments as you progress will help mitigate much of the stress.

Structure your Preparation. The most successful learning system is a structured weekly regimen of study that integrates theory, practice, application and review. In addition to ongoing weekly reading and "homework" practice, some form of periodic progress testing should be incorporated into your preparation strategy so that topics learned early in the study program are not forgotten by the exam date. If you are studying on your own, re-visiting the LOS's is an excellent way to perform such cumulative reviews.

Take notes. In addition to relying on integrated review or study programs, many candidates find highlighting passages, taking notes or making note cards to be effective techniques in preparing for the exam. All candidates are encouraged to construct their own reading notes to enhance retention and to provide a convenient source for final review. Whatever method is employed, a cumulative review of the LOS's covered through each week plus cumulative progressive practice examinations is recommended so that subjects studied in weeks past will not be forgotten by the exam date.

Finish Early. Several weeks before your exam, you should plan on completing your readings and practice, and then identify a final review strategy that enables you to assess your progress to date, drill on practice examination questions, review your notes and bring it all together. A thorough review of Ethical and Professional Standards should be undertaken in the final week before the exam. (Note: The CFA Institute considers this to be an essential part of the program. Candidates with "borderline" exam scores will not be given the benefit of the doubt if they fall to pass the Ethics section of the exam).

Limit your Anxiety: You won't need a perfect score. No candidate scoring above 70% on the CFA Exam has ever failed. Therefore, you can afford to miss as many as 72 questions and still be well within the passing score! Successful candidates might follow a "game plan" in which they will attempt to get about 85% of the basic questions correct and about 69% of the somewhat difficult questions correct. This means that you should be able to get as few as 25% of the very difficult questions correct and still succeed. Somewhat lower percentages might be successful, but there is no reason to take such chances.

Do Not Try to "Game" the Test. The examiners are fully aware that many candidates try to guess what will be on the exam based on previous exams or the relative importance of the subjects within each primary topical area in the curriculum, and then study only those areas. Do not make this mistake!

Although the percentage of the exam questions that will relate to each primary topic may be fixed by CFA Institute, the exact subjects within each of these primary topics (and their associated Learning Outcome Statements) that will be tested are selected using a stratified random sampling process. The constrained random selection process within the primary topics means that less important subjects within each primary topic have a significant chance (maybe 25%) of being on the exam. In addition, topics that have been heavily emphasized in past exams may be completely ignored on the current exam, while subjects that have not been covered on previous exams may be heavily emphasized.

While effort is made to cover important subjects thoroughly, there is also an effort to make the tests different from year to year so that candidates cannot successfully "game" the exam. Learning Outcome Statements that have been emphasized in past years might not be emphasized this year. There are a sufficient number of readings and sub-topics covered in the CFA Institute Study Guides to ensure that many will be covered on the exam, but others will not. However, there is no way to determine in advance what sub-topics will be covered and which ones will be ignored in any given year. Candidates are advised, therefore, to be thoroughly prepared in all subjects assigned in the study program. Going over past exam questions, to the extent they are available, is recommended for practice in problem-solving, but not as a means of determining the probability that a particular type of question will appear on a given year's examination.

 

[phungftieuthu]

anh ơi, có thể viết bằng tiếng Việt được không ạ? tiếng anh như thế này em thấy ở chỗ khác cũng có nhưng mừ đọc chẳng hiểu j cả? học cái nài đắt lắm phải ko ạ? ở Việt Nam mình thì thủ tục học và thi như thế nào cơ anh? yêu cầu học viên cần có những j ạ?

 

[NXD]

Có một số phần là mình copy từ các trang www của CFA nên toàn bằng tiếng Anh.
Tuy nhiên để học CFA mọi người cần có khả năng tiếng Anh nhất định. Ít nhất là đọc hiểu được các nội dung trên.
Học cái này không đắt, bởi vì em có thể tự học được. Nhưng học cái này khó.
Ở Việt Nam thì bạn có thể tự đăng ký thi qua www.cfainstitute.org và sẽ được gửi tài liệu về để học. Bạn có thể dựa vào các tài liệu đó để học hoặc học ôn với FTMS ở Sàigon và Hàinoi. Ngoài ra còn có một số tài liêu ôn thi rất hay của Schweser được bán sau khi CFA phát hành tài liệu chính.
Để học level 1 bạn cần có bằng đại học hoặc sinh viên năm cuối (và phải có bằng trước khi thi level 2) và trình độ tiếng Anh khá.
Để có được charter, bạn phải hoàn tất 3 level và tích lũy đủ 4 năm kinh nghiệm liên quan.
Để bắt đầu, em có thể truy cập vào trang web của CFA để hiểu thêm

 

[phungftieuthu]

nếu kiến thức chuyên ngành tài chính-chứng khoán của mình bằng tiếng Việt rất chắc rùi thì sang tiếng Anh phải học thêm nhiều lắm ko hả anh?

 

[NXD]

Thật khó để trả lời câu hỏi này!
Tất nhiên là khi em giỏi về tài chính chứng khoán rồi thì việc chuyển đổi những kiến thức đó qua tiếng Anh thì chỉ là vấn đề ngôn ngữ.
Nếu em học xong chuyên môn rồi mới bắt đầu học ngôn ngữ thì anh nghĩ là hơi ngược. Tiếng Anh tốt sẽ làm cơ sở vững chắc cho việc học CFA.
Chương trình CFA là chương trình rất khác với những gì được dạy trong trường tại Việt Nam và cả những nước khác trên thế giới. Do đó, việc học CFA không phải chỉ là vấn đề ngôn ngữ mà là việc học những điều mới lạ và khó nắm bắt trong điều kiện thị trường tài chính- chứng khoán tại Việt Nam.
Thật ra để học CFA cần có khả năng đọc sách và nghiên cứu tốt, cộng với sự kiên trì và công sức bỏ ra.

 

[NXD]

Study Tips

By Dr. R. Douglas Van Eaton, CFA - Level 1 Manager

As you prepare to embark on your journey toward the June 2008 Level 1 exam, I encourage you to review the Schweser Study Planner in the "Online Tools w/Notes" menu. Adhering to this schedule will provide you with a structured and disciplined approach to preparing for the exam—a time-honored assurance of success.

Getting Ready

I want to direct your attention to the CFA Institute website and the various updates and FAQs that CFA Institute has published. CFA Institute has several publications on its website that are essential for your understanding of the examination process. Please visit the Candidate Services portion of the website (www.cfainstitute.org/canservices) and download (and read) the following documents:

* CFA Exam Frequently Asked Questions
* Candidate Bulletins
* Errata (updated periodically)

Examination Weights and Structure

Remember that the Level 1 exam will consist of two 3-hour sections and that the morning and afternoon sections will be precisely the same in terms of their structure. CFA Institute's topic area weights (www.cfainstitute.org/cfaprog/courseofstudy/topicareaweights.html) state that 15% will be ethics, 12% will be quantitative methods, 10% will be economics, 20% will be accounting, 8% will be corporate finance, 30% will be asset valuation (including 10% equities, 12% fixed income, 5% derivatives, and 3% alternative investments), and 5% will be portfolio management. These weights will apply to both the morning and afternoon sessions. Also, all ethics questions in the morning will be asked in sequence, followed by quantitative methods, then economics, and so forth. This process will be repeated in the afternoon.

Candidates are always looking to maximize the results of their study effort. When focusing your study, look at the ratio of examination points to Learning Outcome Statements (LOS). The area with the most points per LOS is ethics, and the area with the least points per LOS is economics. Know the basics of the economics material, but don’t spend a month trying to figure out every last detail.

 

[ketoan@]

Có người bạn mình đang học và thi CFA level 1 kỳ tháng 6 này đang đi lùng mua máy tính HP 12c Platinum mà không biết đâu có bán. Bạn nào thi CFA rồi, biết chỗ bán, mách giùm. Cảm ơn nhiều.

 

[nedved]

Thi CFA liên quan mật thiết đến việc mua máy tính, chị @??

 

[ketoan@]

Đúng là Nedved chưa thi CFA bao giờ rồi, CFA có quy định cả về calculator policy, nên chỉ có 2 loại financial calculator được phép dùng khi vào phòng thi mà thôi. Trước khi thi còn bị kiểm tra xem có remove hết công thức chưa... calculator policy còn khuyên cả là nên thay battery trước ngày thi và có thể mang theo 1 tovít nhỏ khi cần phải thay battery trong ngày thi, lại có thể mang >1 máy tính vào phòng thi.

Calculator Policy

Make sure you have the approved calculator you need for the CFA exams

The full exam calculator policy will tell you everything you need to know before you purchase your calculator and take the exams. Remember that your calculator will be inspected before and during the exam, and use of an unauthorized calculator is a violation of CFA Institute rules.

 

[NXD]

Các bạn liên lạc với công ty máy tính Tràng An nhé.
http://www.texas-vernier.com/index.php?language=VN&module=product&content=list_product&cid=64
Lúc trước tớ mua bằng cách gọi điện, chuyển tiền, và máy gửi tới nhà (tính thêm phí vận chuyển)
Các bạn có thể online với anh Vinh (GĐ) ở YM: robert_vinh69
lúc nào cũng thấy online hết

* Tp.Hồ Chí Minh

ĐC: 1165 Trần Hưng Đạo, Phường 5, Quận 5.

Phòng kinh doanh:

ĐT: (08) 9239353 - 0903664519

Email: sales@texas-vernier.com - texasvietnam@pmail.vnn.vn

Kỹ thuật:

ĐT: (08) 923 9341

Email : casioanhvinh@pmail.vnn.vn

YM!: robert_vinh69

Website:

http://www.texas-vernier.com

http://www.maytinhtrangan.com.vn



* Hà nội

61 hàng Đào Quận Hòan Kiếm

ĐT: (04) 8264758

 

[NXD]

À, mà quên, hình như Tràng An chỉ bán máy BA TI thôi.
Mà tớ thấy dân Việt Nam toàn xài BA thôi. Chưa thấy máy HP ở VN bao giờ cả, chắc chưa có ai phân phối đâu.

Giá bán tại Tràng An nè:

BA II Plus Professsional (cái này đẹp hơn, nhìn sang)

Giá: 1 320 000VND

BA II Plus

Giá: 806 000VND
http://www.texas-vernier.com/index.php?language=VN&module=product&content=list_product&cid=64

 

[haw]

Thật khó để trả lời câu hỏi này!
Tất nhiên là khi em giỏi về tài chính chứng khoán rồi thì việc chuyển đổi những kiến thức đó qua tiếng Anh thì chỉ là vấn đề ngôn ngữ.
Nếu em học xong chuyên môn rồi mới bắt đầu học ngôn ngữ thì anh nghĩ là hơi ngược. Tiếng Anh tốt sẽ làm cơ sở vững chắc cho việc học CFA.
Chương trình CFA là chương trình rất khác với những gì được dạy trong trường tại Việt Nam và cả những nước khác trên thế giới. Do đó, việc học CFA không phải chỉ là vấn đề ngôn ngữ mà là việc học những điều mới lạ và khó nắm bắt trong điều kiện thị trường tài chính- chứng khoán tại Việt Nam.
Thật ra để học CFA cần có khả năng đọc sách và nghiên cứu tốt, cộng với sự kiên trì và công sức bỏ ra.

I want to thank for all that you've brought me.
Although I can't do it right now,I have made my career schedule more clearly since that moment!
"On the way to success there is no footprint of a lazy man". I agree.
"Nothing is impossible to a willing heart", I always belive!
Thank you once more time! :015:

 

[NXD]

39 Percent of 37,573 Candidates Worldwide Passed December 2007 Level I CFA Exam

Charlottesville, Va., January 23, 2008 − CFA Institute announced that 39 percent of the 37,573 worldwide candidates in the rigorous Chartered Financial Analyst® (CFA®) program passed the Level I exam they took in December.

To earn the CFA charter, candidates must sequentially pass three six-hour exams that are widely considered to be the most rigorous in the investment profession, as well as complete the minimum work-experience requirement of four years in the investment industry, sign a commitment to abide by the CFA Institute Code of Ethics and Standards of Professional Conduct, apply to a CFA Institute society, and become a member of CFA Institute.

The Level I exam is offered twice a year (June and December), while Level II and Level III exams are offered once each year (June).

The number of candidates tested in December 2007 increased 25 percent from December 2006 when 28,082 sat for the exam. Since the December administration of Level I was first offered in 2003, the number of candidates sitting for the December exam has increased by 45 percent.

Jeff Diermeier, CFA, president and CEO of CFA Institute, credits rising CFA Program enrollments to the value employers and investors recognize in the CFA charter, along with the growth of the financial services industry worldwide.

“The CFA designation is seen as a global passport that offers charterholders the ability to work anywhere in the world,” Diermeier said. “Employers and clients alike respect the designation because they recognize that CFA charterholders commit to uphold high ethical standards and have demonstrated mastery of complex topics.”

The exams cover ethical and professional standards, securities analysis and valuation, financial statement analysis, quantitative methods, economics, corporate finance, portfolio management, and performance measurement. CFA Institute recommends at least 250 hours of study per exam. On average, CFA candidates take four years to pass the three required exams. (More information about the CFA Program.)

By country/region, the pass rates for the Level I exam are:

United States: 41 percent of the 11,273 total exam candidates
Canada: 40 percent of the 3,078 total exam candidates
Europe: 41 percent of the 6,041 total exam candidates
Asia and Pacific Asia: 39 percent of the 15,120 total exam candidates
Central and South America: 41 percent of the 325 total exam candidates
Africa/Middle East: 28 percent of the 1,736 total exam candidates

The December exam was offered at 52 test centers in 29 countries worldwide.

“The CFA Program’s Body of Knowledge is determined by extensive global practice, which ensures that the curriculum and exams are relevant and timely,” said Bob Johnson, CFA, Deputy CEO of CFA Institute. “Employers find great value in this, and many require their professional staff to earn the CFA charter.”

Employers with the largest number of CFA charterholders include Citigroup; Credit Suisse; Deutsche Bank; The Goldman Sachs Group, Inc.; HSBC; JP Morgan Chase & Co.; Merrill Lynch & Co., Inc.; Morgan Stanley; Royal Bank of Canada; and UBS.

There are more than 81,000 CFA charterholders in 126 countries and territories. Since the first exam was given in 1963, the average, global pass rates are 46 percent for Level I, 51 percent for Level II, and 67 percent for Level III.

 

[haizapo]

These above information will be reached on the cfa website so that I think we should update its via their website. Our topic is using for training, discussing and sharing the thoughts. Do not use it like advertising

 

[NXD]

These above information will be reached on the cfa website so that I think we should update its via their website. Our topic is using for training, discussing and sharing the thoughts. Do not use it like advertising

It's great that you have visited CFA website.
Actually, I just want to share information for those who have no time to visit CFA www.
Advertising for CFA is meaningless!
Hope that you will be here for training, discussing and sharing the thoughts!

:1108:

 

[Jonicute]

Hi all! Nice to join this forum of CFA L1. I am very much interested in this cert. and have jumped into its load of learning materials but actually now i feel the pain.

This forum is useful to exchange CFA knowledge and experience. Thank you very much NXD for all your precious info.

@ketoan: As i knew, CFAI permit two kinds of financial calculator (TI BAII Plus and HP 12c Platinum) but in all learning material guide of Kaplan Schwesers suggest TI BAII Plus. And actually, the majority of CFA members on some forum discuss much about TI BAII Plus than HP 13c Platinum. I just wonder whether TI BAII Plus is much easier to operate or it is much more popular? I think maybe your friend should take some care on TI BAII Plus for sure if you have to buy an financial calculator for the CFA test.

Best Regard,

 

[NXD]

I recommend the BA II Plus Professional!
Nice! Cool! :029: