Benefits and complexity of the CFA program

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CFA program - benefits and complexity

Actual and potential CFA candidates may wonder which are the benefits of the CFA exam. However, if you look at the statistics and low pass rates it is obvious that many candidates are not entirely aware of the complexity of the CFA exam. In this article, we will try to summarize all the benefits and complexity of the CFA Exam.

First off all, one of the biggest benefits are:

  • CFA program is highly rewarding and recognized program and CFA charterholders are respected in the world of finance and business. There are a number of programs in the business world, but many of them do not offer such wide, but at the same time detailed knowledge like CFA to its candidates. CFA is recognized as demanding program and professionals who master the program are highly respected.
  • CFA program is especially respected in the following areas: portfolio management, investment banking, M&A, treasury and finance departments. However, the CFA charterholders are welcome in all finance related business segments.
  • CFA program gives you an unparalleled modern financial knowledge that is focused on practical everyday problems.
  • Even if you have sound financial background, the program systematizes your knowledge and gives you an opportunity to refresh it. Also the program updates you with the most recent changes in the most relevant standards (e.g. US GAAP and IFRS) and once you become a charterholder you will be informed about the same in the CFA Institute magazines.
  • If you are coming from non-English speaking area, the program will enhance your finance business English vocabulary that will help you work in international surrounding.

However, there are some drawbacks or risks that make the CFA program complex:

  • The program is demanding and time consuming. No matter how good financial background you have, you will have to spend significant time reading and solving practice problems. The official curriculum is quite extensive, but even the prep provider’s curriculum is not much shorter. If you decide to enrol the program, be ready to dedicate time and energy to it. TimePrep can help you determine how much time on weekly basis you have to spend based on strategy elements you use and your speed.
  • The most important challenge in the process is not the complexity of the program per se, on the contrary the majority of candidates claim that the curriculum is rather easy (especially Level 1), but the time management in the process. Many candidates do not manage to organize their learning process because they are too busy during a working day. The CFA program is demanding in terms of time you have to dedicate and you have to organize your learning process. TimePrep can help you organize the process according to your weekly free time and other learning preferences.
  • In the program you will read about certain topics that are not of your primary interest. Namely, due to the fact that the program is in a way multidisciplinary, covers the wide financial area, and even parts of psychology, economics and ethics, you may find yourself reading and studying in depth topics you don’t like and getting knowledge you will never be in position to utilize.
  • The program is exhaustive. After a few months of studying you will feel exhausted. In addition, certain aspects of your life may suffer as well (e.g. friends and family) because you will simply not have sufficient time them.

Finally, remember that at the end of the day hard work and discipline always pay off.

Good luck!

Find out more details about TimePrep for CFA exam apps here!

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