Sumit, you are correct when u say that there is a lack of internships and practical training when it comes to CFA. Having done both MBA and CFA, I feel that the basic difference is in the subject and required curriculum for the same. As Babu has already said, most professional courses across the world are distance learning be it CFA (AIMR) or CIIA. The course coverage of and MBA (Fin) and professional courses is very different, with wider coverage and theoretical inputs required for the latter. While doing pursuing the course its thus very important to build a sound conceptual base which can be applied later!!
ATTN MUMBAIKERS: I require some information on coaching classes (private coaching classes, tutors) for CFA in Mumbai, besides the ones conducted by ICFAI. This is a little urgent. Pls Help.
Thanks
hey..m sorry..was busy wid the exams...classes in mumbai r held in khalsa coll for level1 ie by icfai unv...n for level2 der is shah classes in andheri....
There is no substitute of hard work.. n Cfa is a very demanding course... my objective is also to make a carreer in financial domain... As someone has said u shd enjoy the journey as much as the destination... all i was stressing was not to take this course as a burden but to enjoy the process of learning ... there is so much new to learn in this course... n if u see hw ur knowledge can be applied in practical word... ull hav gr8 enthu to learn more n more.. tht is y being in touch with the world is impt.. this is hw i think and surely evrybody has diff approach.. Cheers..!!
Completely agree with you my friend. However, whether one enjoys or not depends on his past experriences too and I have never got anything easy in my life till now. So the fear of failure was the main catalyst and it made me go all out nto finish the course.
Another thing....whether you study for enjoyment or for getting placed or for whatever objective, you have to understand the concepts!! The fact that I was pursuing another masters degree alongside was also at the back of my mind.
I do acknowledge that it is not like IIT JEE exams but then I have seen people clearing IIT JEE exams with minimal preparation too and make it look like a mere formality. The bottom line is that people work in 2 ways...smart work and hard work. I am more of a latter category and I was just sharing my experience.
An observation: When I was studying for the Charter, the syllabus consisted of 9 groups (I believe, it is the same now too) out of which we had to appear for exams in 8 groups, while 1 group (Sigma) was Integrated Case Study. Now commencing October 2001, I began appearing for each exam and I have an observation, which could well reflect the trend of toughness in all the four exams that ICFAI holds in a year. October 2001- Passed Alpha January 2002- Passed Beta April 2002- Flunked In Gamma July 2002- Passed Gamma October 2002- Flunked Delta January 2003- Passed Delta April 2003- Flunked Epsilon July 2003- Passed Epsilon October 2003- Passed Kappa January 2004- Passed Lambda April 2004- Flunked Theta (Submitted Case Studies) July 2004- Passed Theta (Case Studies Approved by ICFAI). Now looking at the above Pass/Flunk Score over the 3 years of exams, there is a trend/ strike rate that can be determined. October Exam: Groups attempted were Alpha, Delta and Kappa. I cleared Alpha (in 2001) and Kappa (in 2003) but flunked in Delta in 2002. Thus out of a total of 3 exams in October, I was successful in 2. Thus strike rate is 2/3= 66%. Trend & Verdict- Tricky questions but can be cleared with adequate preparation and focus on developing problem identification abilities. January Exam: Groups attempted were Beta, Delta and Lambda. I cleared all three in January exams only. Thus the strike rate is 3/3= 100%. Length of the papers was slightly more than normal but fairly manageable. Trend & Verdict- fairly decipherable and straight-to-the-point questions. Conceptual clarity will take you through. April Exam: Groups attempted were Gamma, Epsilon and Theta. I flunked in all the April exams! I never cleared an exam that was held in April! The strike rate is 0%! What I felt was that all the April papers were tough and demanding and require more than normal preparation coz ICFAI generally changes the paper trend for the rest of the year from the April exams. I found changes in weightage given to topics, level of toughness and changes in case study patterns. Trend & Verdict- prepare that extra bit. Be prepared for a change in toughness or question weightage and pattern to clear it. July Exam: Groups Attempted were Gamma, Epsilon and Theta. This was surprising, again never failed in July exams!! Strike rate was 100%. Questions asked were fairly easy to help students overcome the torture of April exams, no changes in weightage and pattern and requires moderate preparation to clear. The only problem here was that July exams were really lengthy. I remember that I used to keep on writing and writing- barely being able to finish the paper. Trend & Verdict- prepare moderately and expect a straightforward paper. By looking at this trend, we can see that Jan and July are the months to go for the killing. October is a month for being a bit careful whereas April is for hard work plus prayers. I do acknowledge that this may be very specific to me only but since it is over a 3 year period, it may reflect some trend for others also. It may be different on a case to case basis but if you keep this data in mind, then certainly you will know what to expect. Hope this helps you.
When I was studying for the Charter, the syllabus consisted of 9 groups (I believe, it is the same now too) out of which we had to appear for exams in 8 groups, while 1 group (Sigma) was Integrated Case Study. Now commencing October 2001, I began appearing for each exam and I have an observation, which could well reflect the trend of toughness in all the four exams that ICFAI holds in a year. October 2001- Passed Alpha January 2002- Passed Beta April 2002- Flunked In Gamma July 2002- Passed Gamma October 2002- Flunked Delta January 2003- Passed Delta April 2003- Flunked Epsilon July 2003- Passed Epsilon October 2003- Passed Kappa January 2004- Passed Lambda April 2004- Flunked Theta (Submitted Case Studies) July 2004- Passed Theta (Case Studies Approved by ICFAI). Now looking at the above Pass/Flunk Score over the 3 years of exams, there is a trend/ strike rate that can be determined. October Exam: Groups attempted were Alpha, Delta and Kappa. I cleared Alpha (in 2001) and Kappa (in 2003) but flunked in Delta in 2002. Thus out of a total of 3 exams in October, I was successful in 2. Thus strike rate is 2/3= 66%. Trend & Verdict- Tricky questions but can be cleared with adequate preparation and focus on developing problem identification abilities. January Exam: Groups attempted were Beta, Delta and Lambda. I cleared all three in January exams only. Thus the strike rate is 3/3= 100%. Length of the papers was slightly more than normal but fairly manageable. Trend & Verdict- fairly decipherable and straight-to-the-point questions. Conceptual clarity will take you through. April Exam: Groups attempted were Gamma, Epsilon and Theta. I flunked in all the April exams! I never cleared an exam that was held in April! The strike rate is 0%! What I felt was that all the April papers were tough and demanding and require more than normal preparation coz ICFAI generally changes the paper trend for the rest of the year from the April exams. I found changes in weightage given to topics, level of toughness and changes in case study patterns. Trend & Verdict- prepare that extra bit. Be prepared for a change in toughness or question weightage and pattern to clear it. July Exam: Groups Attempted were Gamma, Epsilon and Theta. This was surprising, again never failed in July exams!! Strike rate was 100%. Questions asked were fairly easy to help students overcome the torture of April exams, no changes in weightage and pattern and requires moderate preparation to clear. The only problem here was that July exams were really lengthy. I remember that I used to keep on writing and writing- barely being able to finish the paper. Trend & Verdict- prepare moderately and expect a straightforward paper. By looking at this trend, we can see that Jan and July are the months to go for the killing. October is a month for being a bit careful whereas April is for hard work plus prayers. I do acknowledge that this may be very specific to me only but since it is over a 3 year period, it may reflect some trend for others also. It may be different on a case to case basis but if you keep this data in mind, then certainly you will know what to expect. Hope this helps you.
Brilliant input, Tumtum. You are spot on with your observation. My friend who appeared for Delta in july for second time was also surprised to observe that April questions were far more tricky then July. The only change ICFAI have done, effective from July 2006 one has to appear for sigma examination in examination room. After clearing Theta, one has to register and prepare for sigma and appear for it. 36 papers/exams too much !! On monday i was reading education times and ICSI quoted that they are reducing CS exams from 22 to 19. CA and ICWA have 21 exams (After graduation). Halat khasta ho gayi with this CFA because every damn chapter is deep.:) Cheers,
Guys...this is a piece of news I have come to know from someone (maybe false). ICFAI is making a change in rule for CFA eligibility. Now onwards, only fully passed graduates (baclelor degree holders) will be allowed to appear for CFA exams. The entire foundation course that it used to advertise will be stopped soon. Additionally, the fees for the programme may be hiked to 80K. If this is true then I wonder what ICFAI is upto !! Why charge such high fees and make eligibility conditions stringent?? Nevertheless, I will verify this news and let you know soon.
Guys...this is a piece of news I have come to know from someone (maybe false).
ICFAI is making a change in rule for CFA eligibility. Now onwards, only fully passed graduates (baclelor degree holders) will be allowed to appear for CFA exams. The entire foundation course that it used to advertise will be stopped soon. Additionally, the fees for the programme may be hiked to 80K. If this is true then I wonder what ICFAI is upto !! Why charge such high fees and make eligibility conditions stringent?? Nevertheless, I will verify this news and let you know soon.
I am sure 80 K will include CIIA international exam fees of $ 300 i.e Rs 15000.
But thats certainly not good thing to do. ICFAI will loose emerging school pass out talent .
Tumtum, your avatar is cool and dream avatar for finance guys and gals 😃
Guys...this is a piece of news I have come to know from someone (maybe false). ICFAI is making a change in rule for CFA eligibility. Now onwards, only fully passed graduates (baclelor degree holders) will be allowed to appear for CFA exams. The entire foundation course that it used to advertise will be stopped soon. Additionally, the fees for the programme may be hiked to 80K. If this is true then I wonder what ICFAI is upto !! Why charge such high fees and make eligibility conditions stringent?? Nevertheless, I will verify this news and let you know soon.
Dont know about the fees hike news. But ya, the Foundation Course as been scrapped with effect from April 2006.
Lucky me!! Enrolled into the Foundation Course in the last week of March.
And yes, I dont know why ICFAI has scrapped the FC. I've started studying a little, and its not that difficult once you understand the underlying concepts, and read a lot of Business News, especially The Hindu (online edition), and Financial Express.
And as far as the fee hike is concerned, dont know anything about it. But i think it should include fees for Placement Services, CIIA, and the 6000/- to get CFA Charter from CCFA.
Dont know about the fees hike news. But ya, the Foundation Course as been scrapped with effect from April 2006.
Lucky me!! Enrolled into the Foundation Course in the last week of March.
And yes, I dont know why ICFAI has scrapped the FC. I've started studying a little, and its not that difficult once you understand the underlying concepts, and read a lot of Business News, especially The Hindu (online edition), and Financial Express.
And as far as the fee hike is concerned, dont know anything about it. But i think it should include fees for Placement Services, CIIA, and the 6000/- to get CFA Charter from CCFA
I am sure it does not include placement fee and CFA charter from CCFA. For placement registration, a seperate form has to be filled different from CFA regsitration form. For CFA charter, 6000 has to be paid after clearing Kappa to get student membership in the CCFA.
It surely includes CIIA. I read CIIA editorial edition on CIIA website and they mentioned Indian Society ICFAI have integrated CIIA examination in their main examinations. There is no hurry for CIIA as you can register for one attempt any time after L 2/ After CFA.
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