Hey Guys
CFA Level 1
Level 2
Level 3
Search is it Available with Mahakali Book Center.
num - 9820665601
contact person - Ashok
please
Hey guys ,
Can you please help me with level 1 study materials
Mail your queries regarding CFA Level 1 and 2 on >
We will try our best to solve them as soon as possible.
Study well. :)
P.S : We are few students who have already done their CFA or are currently in level 3. As there is no platform specifically dedicated to CFA exams we are just trying to make an attempt to help CFA students in our free time. 
Thanks' CFAQuery, that will be helpful. I have just started looking into the CFA Material for L2 from Schweser 2011 books. Hope to set things in motion this month.
hi all, called mahakali xerox, they will have the material not before october end.
Hey Guys .... I Brought the the Schweser Books for CFA 2012 .
Of level II their are 8 books,and Level III also 8 books.
Schweser Material is avaliable now.
U can now call Mahakali book Center...
Contact . Ashok- 9820665601/9920411158.
BA II Plus Calculator also avaliable.
Guys Now Get Set and GO ....
Hey Guys .... I Brought the the Schweser Books for CFA 2012 .
Of level II their are 8 books,and Level III also 8 books.
Schweser Material is avaliable now.
U can now call Mahakali book Center...
Contact . Ashok- 9820665601/9920411158.
BA II Plus Calculator also avaliable.
Guys Now Get Set and GO ....
HI
How is the material. am asking it since kast time i got it fomr lakshmi xerox and few got from om xerox. both contents were the same but book size and material readability and print quality were different. called lakshmi xerox monring and they said it will not be reday before nov 15th.. hence asking u this question.. is it worth buying from mahakali ,.. How much did they charge you.
pls reply .. thnaks in advance
HI
How is the material. am asking it since kast time i got it fomr lakshmi xerox and few got from om xerox. both contents were the same but book size and material readability and print quality were different. called lakshmi xerox monring and they said it will not be reday before nov 15th.. hence asking u this question.. is it worth buying from mahakali ,.. How much did they charge you.
pls reply .. thnaks in advance
Dude I brought from the Mahakali Book center ... the quality is very good its is readable also ... U can be reliable on them ... They r very good ... If u want they will deliver it to your House also..I promise it is worth buying it from mahakali....
Cheers.:-o
Hey level I books is nw avaliable .... In Stores.......
Call Mahakali Book center..
Ashok/9820665601
:)
Hey Guys n Gals I am in Calcutta... and i am appearing exam in June 2012
Can any one tell me where can i get Schweser Level II & Level III books...
Please ....:biggrin:
Thanks In Advance........
Hi everyone,
Congrats each one of you on clearing CFA L1...
Guys i need some advice from you, i cleared my CFA L1 this year and i am working with a construction firm right now... My ques is should i go for CFA L2 because i feel it may be difficult for me to enter any broking house or investment firm since my work ex wont be having a relative work ex for those firms after a year... guys need your help... do reply..
Just an information!!! (Particularly for candidates in Pune ) though sharing it for people who r seeking more information on CFA or CFA classes in PUNE
I got an invitation from some CFA coaching classes called as Opulent Academic Guild, AUNDH PUNE for Free Seminar on Sat. 26/11/11 from 5pm to 7pm.
CFA ORIENTATION SEMINAR
by Charter holders & faculty members (thats what written on the invitation)
if anybody wants more information can call them on 7304499781
(NOTE:I have no personal interest sharing this information)
can u please tell me what is the difference between financial engineering and cfa ?????
Is anyone looking to buy CFA L2 textbooks (CFAI) ? I have the 2011 edition.
adityakhaitan87 Sayscan u please tell me what is the difference between financial engineering and cfa ?????
@ aditya
As it is not clear from what angle you are asking the question I will try to give you some idea about the Financial Engineering and CFA from various perspective, namely, scope and meaning, the course, curriculum coverage (candidates body of knowledge) and finally Employment areas and scope.
Meaning And Scope Of Financial Engineering And CFA
Financial Engineering : Simply stated "Financial Engineering is the application of mathematical methods to the solution of problems in finance". It is also known as financial mathematics, mathematical finance, and computational finance. Applicationwise 'Financial Engineering' mainly comprises of creation of new and improved financial products through innovative design or repackaging of existing financial instruments. Invetsopidia states that "Financial engineers use various mathematical tools in order to create new investment strategies. The new products created by financial engineers can serve as solutions to problems or as ways to maximize returns from potential investment opportunities."
Financial engineering programmes draws on tools from applied mathematics, computer science, statistics, and economic theory. These programmes are designed for candidates who wish to obtain positions in the securities, banking, and financial management and consulting industries, or as quantitative analysts in corporate treasury and finance departments of general manufacturing and service firms.
The CFA: The CFA Program is a globally recognized, graduate-level curriculum that provides a strong foundation of the real-world investment analysis and portfolio management skills and practical knowledge one needs in today's investment industry. It also emphasizes the highest ethical and professional standards.
To get the CFA charter one has to
a. Successfully clear all three levels of the CFA exam in sequential manner; It is commonly believed that fulfilling the educational requirements is the critical and most difficult part of becoming a CFA.
b. Possess 48 months of "acceptable professional work experience"
c. Become a member of the CFA Institute after completing a professional conduct statement, and affiliate with a local chapter.
According to CFA Institute (CFAI), "Chartered Financial Analyst designation, or CFA charter, has become the most respected and recognized investment credential in the world. Earning the CFA charter demonstrates mastery of the skills most needed for investment analysis and decision making in today's fast-evolving global financial industry."
CFA and FE Programmes
The current CFA Programme as per the CFAI is best described as a "self-study, distance-learning program that takes a generalist approach to investment analysis, valuation, and portfolio management, and emphasizes the highest ethical and professional standards."
The CFA Program is not a purely academic program, but rather one that focuses on the global investment management profession from the standpoint of a practitioner. Only after passing the Level III examination and fulfilling the CFA Program's work-experience requirement is a candidate awarded the right to use the coveted CFA designation
Any high level (which can be considered similar to CFA in contents and status) Financial Engineering programme will mostly be a multidisciplinary programme involving financial theory, the methods of engineering, the tools of mathematics and the practice of programming. For example the Financial Engineering Programs at some US Universities " provide a full-time courses in the application of engineering methodologies and quantitative methods to finance".
At the basic level the Financial Engineering qualification involves learning the tools of the trade and their use in modeling financial markets and instruments. Students take courses in stochastic processes, optimization, numerical techniques, Monte Carlo simulation, and data analysis. It also include portfolio theory, derivatives valuation, and financial risk analysis, making use of the methods they have learned. While in the advanced stage iit involves studying specialized topics, ranging from models of the term structure of interest rates to applications programming for financial engineering on particular markets and their models, for example mortgage-backed securities or credit-risk modeling.
Candidate Body Of Knowledge (Curriculum Coverage)
Any standard Graduate / Masters level Financial Engineering programme normally focuses on the following contents coverage ( according to IAFE ) . The scope and quality differs from university to university or the programme provider, but generally speaking it will cover:
1. Mathematical & Statistical tools: Statistical tools, Stochastic calculus, PDEs applied to finance, Basic fixed income math, Statistical inference, Time series analysis, Regression analysis
2. Economic / financial tools: Microeconomics, Macroeconomics. Econometrics, Corporate finance, Game theory / Auction theory, Real options
3. Computational tools: Object-oriented programming applied to finance , Monte Carlo simulation, Optimization, Finite difference solutions for PDEs / Dynamic programming,
4. Derivative securities models: Basic overview of derivatives models, Advanced overview of derivatives models, Interest rate option models, Credit models, Energy models & weather derivatives, FX models, Equity models, Convertible bond & hybrid models,
5. Investments & trading: Basic capital markets & portfolio theory, Advanced capital markets and portfolio theory, Statistical arbitrage, Market microstructure / algorithmic trading /optimal execution, Behavioral finance
6. Institutional background: Risk management,Structuring / Financial engineering, Tax & accounting aspects of derivatives
The CFA programme covers the following "Topic Areas" in their curriculum spread across three levels of examination:
- Ethical and Professional Standards
- Investment Tools: Corporate Finance, Economics, Financial Reporting and Analysis, Quantitative Methods
- Asset Classes : Alternative Investments, Derivatives ,Equity Investments, Fixed Income
- Portfolio Management and Wealth Planning
But the 'FOCUS' of the three levels are mainly: :
Level 1 :- Finance Foundations : Mainly Knowledge Comprehension, some Applications and analysis
Level 2 :- Investment Analysis: Mainly Applications and analysis, with more advanced Knowledge Comprehension, some Synthesis & Evaluation
Level 3 :- Portfolio Management: Mainly Synthesis & Evaluation, with Applications and analysis
Employment Areas and Scope
Full time and part-time programmes exist for qualifying in Financial Engineering. Investment banks, commercial banks, hedge funds, insurance companies, corporate treasuries, and regulatory agencies employ financial engineers. These businesses apply the methods of financial engineering to such problems as new product development, derivative securities valuation, portfolio structuring, risk management, and scenario simulation.
As such CFA,as a self-study certification, is highly valued in investment and asset management industry.
Any Financial Engineering program, done on part-time or full-time basis enables to get employment in quantitative finance (or computational finance) roles, which are related to trading in the capital markets, eg assisting traders by churning out useful spreadsheets. In many ways it is very different from asset management, and many say that it 'requires more brain power and less soft skills'. Studying for CFA requires a huge commitment and takes up a lot of time and devotion. But then as it is not easy, employers recognise and respect someone with a CFA.
The qualifying criteria itself provides a defined and reliable indication of the scope of areas of employment and functions of a CFA. The CFAI requirements state that "To be recommended for regular membership you must have completed four years (48 months) of qualifying work experience in activities that consist to a majority extent of:
- Evaluating or applying financial, economic, and/or statistical data as part of the investment decision-making process involving securities or similar investments, which includes, but is not limited to, publicly traded and privately placed stocks, bonds, and mortgages and their derivatives; commodity-based derivatives and mutual funds; and other investment assets, such as real estate and commodities, if these other investment assets are held as part of a diversified, securities-oriented investment portfolio; or
- Supervising, directly or indirectly, persons who practice such activities; or
- Teaching such activities.
At least 50 percent of your work experience must be:
- Directly involved in the investment decision-making process
- Engaged in responsibilities and/or producing a work product that informs or adds value to that process"
There are many areas in finance and banking generally and specifically suited for qualified Financial Engineers and CFAs with a very little commonality in what one does ultimately. If one is deeply interested in the treasury, quantitative risk management and derivatives, then financial engineering training is vital. On the other hand if one is enthusiastic about analysing financial statements, the business of companies, equity / bond analysis, and wish to be expert in it then a CFA is a necessity.
In financial engineering, actually one will be doing the number crunching, analysis and modeling using advanced tools of computing and advanced probability and statistical methods to solve problem (not necessarily understanding the business of the corporates that is being analysed!). Ultimately what matters is the individual preference and strength.
A CFA gives credibility in banking & finance more in the functional areas of investment advisory/ research but not much for other roles such as sales, dealing, or back office etc. CFA is more of a 'apply the knowledge' type qualification, in fact the CFA is focused in such a manner that if the knowledge gained is not used or updated there is every possibility that one will forget what one has learnt during the CFA no software or spreadsheet may help then. That is why probably, for most hard core finance professionals the work in finance is neither much exciting nor gratifying unless one holds an investment decision making role. i.e. trading/ fund management/ investment research etc. for which it pays to be a CFA.. It also better equips the finance professionals to change specialties as their careers evolve.
A high level Financial Engineering qualification may ultimately lead to a job in product control, valuations, risk reporting and sometimes (almost in rare case) if one is really talented (or lucky) a front office job.
Hope it helps.
@ aditya
As it is not clear from what angle you are asking the question I will try to give you some idea about the Financial Engineering and CFA from various perspective, namely, scope and meaning, the course, curriculum coverage (candidates body of knowledge) and finally Employment areas and scope.
Meaning And Scope Of Financial Engineering And CFA
Financial Engineering : Simply stated "Financial Engineering is the application of mathematical methods to the solution of problems in finance". It is also known as financial mathematics, mathematical finance, and computational finance. Applicationwise 'Financial Engineering' mainly comprises of creation of new and improved financial products through innovative design or repackaging of existing financial instruments. Invetsopidia states that "Financial engineers use various mathematical tools in order to create new investment strategies. The new products created by financial engineers can serve as solutions to problems or as ways to maximize returns from potential investment opportunities."
Financial engineering programmes draws on tools from applied mathematics, computer science, statistics, and economic theory. These programmes are designed for candidates who wish to obtain positions in the securities, banking, and financial management and consulting industries, or as quantitative analysts in corporate treasury and finance departments of general manufacturing and service firms.
The CFA: The CFA Program is a globally recognized, graduate-level curriculum that provides a strong foundation of the real-world investment analysis and portfolio management skills and practical knowledge one needs in today's investment industry. It also emphasizes the highest ethical and professional standards.
To get the CFA charter one has to
a. Successfully clear all three levels of the CFA exam in sequential manner; It is commonly believed that fulfilling the educational requirements is the critical and most difficult part of becoming a CFA.
b. Possess 48 months of "acceptable professional work experience"
c. Become a member of the CFA Institute after completing a professional conduct statement, and affiliate with a local chapter.
According to CFA Institute (CFAI), "Chartered Financial Analyst designation, or CFA charter, has become the most respected and recognized investment credential in the world. Earning the CFA charter demonstrates mastery of the skills most needed for investment analysis and decision making in today's fast-evolving global financial industry."
CFA and FE Programmes
The current CFA Programme as per the CFAI is best described as a "self-study, distance-learning program that takes a generalist approach to investment analysis, valuation, and portfolio management, and emphasizes the highest ethical and professional standards."
The CFA Program is not a purely academic program, but rather one that focuses on the global investment management profession from the standpoint of a practitioner. Only after passing the Level III examination and fulfilling the CFA Program's work-experience requirement is a candidate awarded the right to use the coveted CFA designation
Any high level (which can be considered similar to CFA in contents and status) Financial Engineering programme will mostly be a multidisciplinary programme involving financial theory, the methods of engineering, the tools of mathematics and the practice of programming. For example the Financial Engineering Programs at some US Universities " provide a full-time courses in the application of engineering methodologies and quantitative methods to finance".
At the basic level the Financial Engineering qualification involves learning the tools of the trade and their use in modeling financial markets and instruments. Students take courses in stochastic processes, optimization, numerical techniques, Monte Carlo simulation, and data analysis. It also include portfolio theory, derivatives valuation, and financial risk analysis, making use of the methods they have learned. While in the advanced stage iit involves studying specialized topics, ranging from models of the term structure of interest rates to applications programming for financial engineering on particular markets and their models, for example mortgage-backed securities or credit-risk modeling.
Candidate Body Of Knowledge (Curriculum Coverage)
Any standard Graduate / Masters level Financial Engineering programme normally focuses on the following contents coverage ( according to IAFE ) . The scope and quality differs from university to university or the programme provider, but generally speaking it will cover:
1. Mathematical & Statistical tools: Statistical tools, Stochastic calculus, PDEs applied to finance, Basic fixed income math, Statistical inference, Time series analysis, Regression analysis
2. Economic / financial tools: Microeconomics, Macroeconomics. Econometrics, Corporate finance, Game theory / Auction theory, Real options
3. Computational tools: Object-oriented programming applied to finance , Monte Carlo simulation, Optimization, Finite difference solutions for PDEs / Dynamic programming,
4. Derivative securities models: Basic overview of derivatives models, Advanced overview of derivatives models, Interest rate option models, Credit models, Energy models & weather derivatives, FX models, Equity models, Convertible bond & hybrid models,
5. Investments & trading: Basic capital markets & portfolio theory, Advanced capital markets and portfolio theory, Statistical arbitrage, Market microstructure / algorithmic trading /optimal execution, Behavioral finance
6. Institutional background: Risk management,Structuring / Financial engineering, Tax & accounting aspects of derivatives
The CFA programme covers the following "Topic Areas" in their curriculum spread across three levels of examination:
- Ethical and Professional Standards
- Investment Tools: Corporate Finance, Economics, Financial Reporting and Analysis, Quantitative Methods
- Asset Classes : Alternative Investments, Derivatives ,Equity Investments, Fixed Income
- Portfolio Management and Wealth Planning
But the 'FOCUS' of the three levels are mainly: :
Level 1 :- Finance Foundations : Mainly Knowledge Comprehension, some Applications and analysis
Level 2 :- Investment Analysis: Mainly Applications and analysis, with more advanced Knowledge Comprehension, some Synthesis & Evaluation
Level 3 :- Portfolio Management: Mainly Synthesis & Evaluation, with Applications and analysis
Employment Areas and Scope
Full time and part-time programmes exist for qualifying in Financial Engineering. Investment banks, commercial banks, hedge funds, insurance companies, corporate treasuries, and regulatory agencies employ financial engineers. These businesses apply the methods of financial engineering to such problems as new product development, derivative securities valuation, portfolio structuring, risk management, and scenario simulation.
As such CFA,as a self-study certification, is highly valued in investment and asset management industry.
Any Financial Engineering program, done on part-time or full-time basis enables to get employment in quantitative finance (or computational finance) roles, which are related to trading in the capital markets, eg assisting traders by churning out useful spreadsheets. In many ways it is very different from asset management, and many say that it 'requires more brain power and less soft skills'. Studying for CFA requires a huge commitment and takes up a lot of time and devotion. But then as it is not easy, employers recognise and respect someone with a CFA.
The qualifying criteria itself provides a defined and reliable indication of the scope of areas of employment and functions of a CFA. The CFAI requirements state that "To be recommended for regular membership you must have completed four years (48 months) of qualifying work experience in activities that consist to a majority extent of:
- Evaluating or applying financial, economic, and/or statistical data as part of the investment decision-making process involving securities or similar investments, which includes, but is not limited to, publicly traded and privately placed stocks, bonds, and mortgages and their derivatives; commodity-based derivatives and mutual funds; and other investment assets, such as real estate and commodities, if these other investment assets are held as part of a diversified, securities-oriented investment portfolio; or
- Supervising, directly or indirectly, persons who practice such activities; or
- Teaching such activities.
At least 50 percent of your work experience must be:
- Directly involved in the investment decision-making process
- Engaged in responsibilities and/or producing a work product that informs or adds value to that process"
There are many areas in finance and banking generally and specifically suited for qualified Financial Engineers and CFAs with a very little commonality in what one does ultimately. If one is deeply interested in the treasury, quantitative risk management and derivatives, then financial engineering training is vital. On the other hand if one is enthusiastic about analysing financial statements, the business of companies, equity / bond analysis, and wish to be expert in it then a CFA is a necessity.
In financial engineering, actually one will be doing the number crunching, analysis and modeling using advanced tools of computing and advanced probability and statistical methods to solve problem (not necessarily understanding the business of the corporates that is being analysed!). Ultimately what matters is the individual preference and strength.
A CFA gives credibility in banking & finance more in the functional areas of investment advisory/ research but not much for other roles such as sales, dealing, or back office etc. CFA is more of a 'apply the knowledge' type qualification, in fact the CFA is focused in such a manner that if the knowledge gained is not used or updated there is every possibility that one will forget what one has learnt during the CFA no software or spreadsheet may help then. That is why probably, for most hard core finance professionals the work in finance is neither much exciting nor gratifying unless one holds an investment decision making role. i.e. trading/ fund management/ investment research etc. for which it pays to be a CFA.. It also better equips the finance professionals to change specialties as their careers evolve.
A high level Financial Engineering qualification may ultimately lead to a job in product control, valuations, risk reporting and sometimes (almost in rare case) if one is really talented (or lucky) a front office job.
Hope it helps.
thanks for the reply sir but i have one question, does in financial eng course do they teach programming too using oops n if yes what is the level of tat program development. also if as i have heard tat the level of maths used in cfa is approx of 12th level, n tat of financial eng is y high level. so one should have a prerequisite knwledge or it is taught during course time
@aditya
does in financial eng course do they teach programming too using oops n if yes what is the level of tat program development.
If you see above you will find "Object-oriented programming applied to finance" , find and "oops" is the abbrevation of 'object-oriented programming, so your question is already answered. It is mentioned in IAFE course content analysis that this section is of 64% high, 32% medium and 4% low level so obviously it's application is at quite advanced level.
also if as i have heard tat the level of maths used in cfa is approx of 12th level, n tat of financial eng is y high level. so one should have a prerequisite knwledge or it is taught during course time
See, foundation of maths in both is of 12th level but even in CFA there are some topics where it goes upto much advanced level (though many may not find it so difficult specially at initial levels, comparatively as in some other professional programmes, like FRM). If you are thinking of a regular programme in Financial Engineering (like say, MS or Masters in FE) both things are partly true i.e. some basic /fundamental knowledge is presumed and specialised areas and advance concepts are introduced and taught during the course delivery. But this is true for any /all professional programmes at this level (even MBA) and those who lack the fundamental /basic knowledge in any area has to put in extra effort to grasp the areas in which one lacks the prerequisite knowledge (mostly relates to mathematical / statistical / cmputational / specialised concepts ) e.g. even in CFA non-commerce students have to do so to really understand and study many crucial areas. In formal regular courses like MS etc it may not be so much of a problem but for courses like CFE, CFERM etc. it will require some extra effort for those who lack the prerequisite knowledge. The word 'Engineering' inherently presumes reasonable knowledge, competency and skill in areas like mathematical, computational, IT and programming and statistical etc., that is why probably more of engineers and IT people later go for it when due to stagnation or unhappiness with working styles / conditions or growth potential or for any other reason (and presumably are confident of their 'analytic' skill) they wish to switch to Finance field .
@shruti
U can order the materials from Laxmi Stationery And Xerox, Vile Parle West. 022 - 26134350, 26104193. 9820541867, 9833228039, 9892972395.woh courier bhi kar denge ..once u provide ur address...
have u registered for L2 yet...cos m plannin to order the books of schweser from laxmi today
@aditya
does in financial eng course do they teach programming too using oops n if yes what is the level of tat program development.
If you see above you will find "Object-oriented programming applied to finance" , find and "oops" is the abbrevation of 'object-oriented programming, so your question is already answered. It is mentioned in IAFE course content analysis that this section is of 64% high, 32% medium and 4% low level so obviously it's application is at quite advanced level.
also if as i have heard tat the level of maths used in cfa is approx of 12th level, n tat of financial eng is y high level. so one should have a prerequisite knwledge or it is taught during course time
See, foundation of maths in both is of 12th level but even in CFA there are some topics where it goes upto much advanced level (though many may not find it so difficult specially at initial levels, comparatively as in some other professional programmes, like FRM). If you are thinking of a regular programme in Financial Engineering (like say, MS or Masters in FE) both things are partly true i.e. some basic /fundamental knowledge is presumed and specialised areas and advance concepts are introduced and taught during the course delivery. But this is true for any /all professional programmes at this level (even MBA) and those who lack the fundamental /basic knowledge in any area has to put in extra effort to grasp the areas in which one lacks the prerequisite knowledge (mostly relates to mathematical / statistical / cmputational / specialised concepts ) e.g. even in CFA non-commerce students have to do so to really understand and study many crucial areas. In formal regular courses like MS etc it may not be so much of a problem but for courses like CFE, CFERM etc. it will require some extra effort for those who lack the prerequisite knowledge. The word 'Engineering' inherently presumes reasonable knowledge, competency and skill in areas like mathematical, computational, IT and programming and statistical etc., that is why probably more of engineers and IT people later go for it when due to stagnation or unhappiness with working styles / conditions or growth potential or for any other reason (and presumably are confident of their 'analytic' skill) they wish to switch to Finance field .
sir one more question so wat should a person who want to go to finance but is not so good in programming and have good knowledge in maths tat of 12th(have to remember the maths of engg as not much used by me) level should do financial engg or cfa?????
lakshnl SaysIs anyone looking to buy CFA L2 textbooks (CFAI) ? I have the 2011 edition.
yes... m interested.. which city u live in?
you can send the details on [email protected]
Thanks