Introduction of the Professional Body

"The CFA Program has been described as the gold standard qualification for the investment industry. The program thoroughly covers a broad range of investment topics including asset valuation, financial mathematics, corporate finance and portfolio management. The qualification is ideal for people working as Analysts or Asset Managers, but also for anyone wanting to understand the workings of the financial markets from a theoretical and practical perspective will find it useful. Throughout the three levels there is a strong emphasis on building analytical skills underpinned by a belief in ethical behavior. "
The CFA examinations are administered by CFA Institute, whose headquarters are in Charlottesville, USA, with offices in London and Hong Kong. The Institute is composed of more than 100,000 individual voting members and 136 societies around the world.

Benefits of CFA Qualification

  • CFA is global passport to Career Adviser's Designation and is respected worldwide for its skills and its high ethical standards
  • Becoming a CFA is now a passport for excellence and international mobility.
  • Highly paid professionals around the globe
  • Opportunity to join top 24 employers including Bank of America, Barclays, Deutsche Bank, Price water house Coopers etc.

Eligibility

To register for the program, a delegate must fulfill the entrance requirements. You must:

  • Have a bachelor's degree, be in the final year of your bachelor's degree, or have a combination of work and college experience that totals at least four years.
  • Meet the professional conduct admission criteria Registering for your first examination also registers you as a candidate on the CFA Program. A one-off enrollment fee is required in addition to the examination registration fee.

CFA Requirements

Meet the work experience requirements

  • If you became a candidate in the 2005 examination cycle or thereafter, you will need four years of acceptable professional work experience for regular membership
  • Become a regular member of CFA Institute
  • Receive your official status. The CFA Institute will notify you when you have completed all requirements and can begin using the CFA designation
  • Maintain your status. Follow the CFA charter holder guidelines
  • For full details on the CFA charter requirements, please visit the CFA Institute website at www.cfainstitute.org

Exemptions in ACCA

A maximum of nine papers at the Fundamentals level of the ACCA Qualification can be awarded. To preserve the integrity and rigor of the ACCA Qualification and to ensure that all students share a common experience, ACCA does not award any exemptions at the Professional level.
Exemption from all three levels of the Certified Accounting Technician (CAT) Qualification can be considered, depending on the standard and equivalence of the qualification held.
Exemptions are also available for the Foundations in Accountancy suite of awards. No exemptions are awarded from any of the papers of modules examined within ACCA's suite of post-professional qualifications.

Previous Qualification Exemptions from ACCA Papers
MBA F1-F3, (depending upon specialization)
M.Com F1-F4
BBA (Honours) F1-F3, (depending upon specialization)
CA Intermediate (ICAP) F1-F3
CA Complete (ICAP) F1-F9
CA Complete (ICAEW) F1-F9
CIMA (UK) F1-F9
CMA (ICMAP) F1-F4

Examination Structure

Level-I Examination

  • Consists of a 3 hour morning session examination and a 3 hour afternoon session examination on the examination day.
  • All questions in the Level I examination are multiple-choice questions.
  • All work will be covered in both morning and afternoon examinations.
  • Examination opportunities in June and December.

Level-II Examination

  • Consists of a 3 hour morning session examination and a 3 hour afternoon session examination on the examination day.
  • The Level II examination is composed of item-set questions. (Item sets are sometimes called “mini-cases.” Each item set on the CFA examination consists of a vignette (or case statement) and six multiple choice items (questions).)
  • All work will be covered in both morning and afternoon examinations
  • Examination opportunities in June only

Level-III Examination

  • Consists of a 3 hour morning session examination and a 3 hour afternoon session examination on the examination day.
  • The Level III examination is composed of item-set and essay questions
  • Examination opportunities in June only

Section B

  • 5 x 6 mark multi-task questions 30%
Exam Format (F4 - F9)
Subject Current Exam Format Trialled Specimen From December 2014 ∗
F4 10 × 10 mark MTQ ∗∗
style written questions
35 × 2 mark MCQs ∗∗∗
5 × 6 mark MTQs
20 × 1 mark MCQs
25 × 2 mark MCQs
5 × 6 mark MTQs
F5 5 × 20 mark written questions 20 × 2 mark MCQs
5 × 10-15 mark written questions
20 × 2 mark MCQs
5 × 10-15 mark written questions
F6 5 × 15-30 mark written questions
(1 × 30, 1 × 25, 3 × 15)
Being trialled Dec 2013 TBC post trialling analysis
F7 5 × 10-25 mark written questions
(3 × 25, 1 × 15, 1 × 10)
20 × 2 mark MCQs
3 × 15-30 mark written questions
20 × 2 mark MCQs
3 × 15-30 mark written questions
F8 5 × 10-30 mark written questions
(1 × 30, 1 × 10, 3 × 20)
10 × 2 mark MCQs
6 × 10-20 mark written questions
8 × 2 mark MCQs
4 × 1 mark MCQs
6 × 10-20 mark written questions
F9 4 × 25 mark written questions 20 × 2 mark MCQs
5 × 10-15 mark written questions
20 × 2 mark MCQs
5 × 10-15 mark written questions

 

  • ∗ F6 exam format is not changing until June 2015 hence being trialled in December 2013
  • ∗∗ MTQs are multiple task questions and contain a series of tasks for the student to complete which relate to one or more scenarios. Students are required to prepare brief answers to the requirements
  • ∗∗∗ MCQs are multiple choice questions where the student is required to select the correct option from a list of options. MCQs are one of a number of objective test questions. Objective test questions can be automatically marked and hence are capable of discrete responses

Fee Structure 

CFA Program applicants pay an initial one-time enrolment fee. In addition, applicants are required to pay an examination registration fee.
Returning candidates pay only the examination registration fee.

All fees are in U.S. dollars.
CFA (USA) offers three options for the CFA Program curriculum: eBook only, print only, or both.

Item By 22-Sep By 16-Feb By 16-Mar
Program Enrolment (new Level I only) $405 $405 $490
Examination Registration $630 $720 $970
Curriculum eBook version Save $40 Save $40 Save $40
Total $995 $1,085‡ $1,420
December 2014 Examination (Level-I only)
All fees are in U.S. dollars.
CFA (USA) offers three options for the CFA Program curriculum: eBook only, print only, or both.
Item By 13-Mar By 24-Aug By 14-Sep
Program Enrolment (new Level I only) Deadline passed $440 $440
Exam Registration Deadline passed $800 $1,170
Curriculum eBook version included in fee included in fee included in fee
Total - $1,240 $1,610

"What to know about exam fees? Click here"

Exam Entry

Once you have become an ACCA student and have started studying, the next step will be to register for your exams. Or if you have already decided when you want to start taking examinations, you can enter for them at the same time as you apply online to become a student.
Entering for examinations online is quick and convenient. You will receive instant confirmation that you have been entered for the examinations, saving you valuable time to do more important things - like studying for them!
Please note the following:
If you're still not sure entering for an examination online is the way to go and you complete the paper-based exam entry form, this must be received at ACCA's examinations department in the UK by the specified standard closing dates above. Please remember to allow time for postal delivery.

Important Dates of Different Months

The closing dates for early, standard and late examinations entry are easy to remember - 8 is the date.

Important Dates 

June 2014 Examination Schedule (Levels I, II, and III)
Mid-July June 2014 examination Registration Opens
Upon Registration Sample examinations become available at time of registration
25-Sep-13 First fee schedule/ deadline to enroll and register for the June 2011 exam
November 2013 Topic based practice test and mock examinations become available
3-Feb-14 Awareness scholarship application deadline
12-Feb-14 Second deadline to enroll and register for the June examination
13-Mar-14 Final deadline to enroll and register for the June 2014 examination
24-Mar-14 Final deadline for disability and religious alternate date accommodations requests to be received by CFA Institute
14 April 2014 Test center change request deadline (login required)
Early May 2014 Examination admission tickets available online
7 June 2014 Examination days
June–July 2014 Examinations graded
July–August 2014 Examination results available
December 2014 Examination Schedule (Level-I only)
Mid-January December 2011 examination Registration Opens
Upon Registration Sample examinations become available at time of registration
13-Mar-14 First deadline to enroll and register for the December examination
March 2014 Practice tests and mock examination available
20-Aug-14 Second deadline to enroll and register for the December 2011 examination
17-Sep-14 Final fee schedule deadline to register for the December examination
23-Sep-14 Final deadline for disability and religious alternate date accommodation requests to be received by CFA institute
13-Oct-14 Test center change request deadline
November 2014 Examination admission tickets available online
6-December 2014 Examination day
December 2014–January 2015 Examinations graded
Jan-15 Examination results available

Practical Experience Requirement

Becoming a CFA charter holder is not simply a matter of passing the examinations. In order to earn the CFA charter you are also required to be a regular member of CFA institute. Four years of relevant work experience is required for regular membership (summer, part-time and internship positions do not qualify).

Financial Assistance

  • The financial assistance approved will be applicable for the current session only. If a student wishes to apply for the next session, a new application along with new enclosure will be required and complete procedure to be followed.
  • Students who are transferring from CAT/ FIA, CA/ CMA or CIMA will be required to fill a new application along with the required enclosures
  • The financial assistance approved in previous qualification will not be carried forward. The new application will be assessed again

Procedure

  • Form should be submitted to Manager Coordination
  • Students will be interviewed by Manager Coordination
  • Based on the interview, recommendation is made to the Principal for Financial Assistance
  • Principal approves the Financial Assistance as per policies of the institute and keeping in view the budget of donations- allocated
  • All applications will be processed within one week of submission

Scholarships 

Sr. No. Qualification Marks Obtained Scholarships (%age of Tuition Fee)
1 A-Levels Position holder 100%
6 or more A's 50%
2 A's 40%
1A + 1B 25%
2 B.A/ B.Sc Position holder 100%
65% or above 50%
60% - 64% 40%
3 B.Com Position holder 100%
70% or above 50%
65% - 69% 40%
60% - 64% 25%
4 M.Com Position holder 100%
70% or above 50%
65% - 69% 40%
5 Students domiciled and resident outside Lahore 20%
6 Hafiz-e-Quran 20%
7 Orphans 20%

Faculty 

Paper Name Qualification Teaching Experience Email
CFA Kamran Rashid CFA, ACA 16
Mr. Kamran Rashid is assisted by a team of associates

ASD

Mr. Kamran Rashid is assisted by a team of associates.
All associates have passed all examinations of CFA Program. These team members help them in conducting practice and review sessions, monitoring students’ progress, developing educational material and mentoring students. They are also a key in holding tutorial sessions and providing out of class support to students.

     Admission Rules

  1. Fee is non-refundable, non-transferable
  2. 50% fee is charged where student decides to retake classes in the event of failure in the examination.
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