The CFA course is opted for by both students and employed executives. Fresh graduates and also students in the final year of the Bachelor Degree course are eligible for the admission test. The pre qualification of a graduate degree is waived in the case of Commissioned defence personnel who have five years of experience. A financial analyst should have two traits, the first being an ability to work well with numbers and the second being the ability to convey his viewpoint in a precise and comprehensive manner. Keeping this in view, the admission test attempts to test a candidate's verbal skills and quantitative reasoning abilities.
The foundation module of the course is aimed at familiarising candidates from disciplines other that commerce, to the basic principles of finance. It includes courses in financial and management accounting, essentials of tax planning, basic guiding principles of investment, basics of corporate finance and a study of statistics as relevant to financial applications. So people with professional qualifications like MBA, CA, ICWA and M Com. are exempt from the initial foundation module of the course. The others who take the foundation course can appear for the qualifying exam of the foundation module three months after enrolment.
The preliminary level This level, also known as the second module, is divided into two groups - Group A and Group B. Financial accounting and financial management are the two papers in Group A. A candidate can take an exam in these papers six months after enrolment. There is only one paper in Group B: quantitative methods and economics. A candidate can take an exam in this paper twelve months after enrolment.
The Inter level This level, referred to as the third module, is divided into two groups: Group C and Group D. Group C has two papers - one on economic legislation and the other on management accounting. Exams for papers in this group can be taken six months after passing the preliminary level. Group D also has two papers: one on security evaluation and the other on project appraisal planning and control. Exams for this group can be taken twelve months after passing the preliminary level. The final level
The final level or the fourth module is divided into two groups: Group E and Group F. Group E has two papers - advance financial management and financial services. Exams for this group can be taken six months after passing the inter level. Group F has two papers in investment management - the Indian financial system and international financial management. Exams for the papers in this group can be taken one year after passing the inter level. Candidates at this level are also given practical training by placing them with reputed organisations.
- Banking (1)