Back in November, I briefly mentioned in my monthly review that I spent $800 to sign up for CFA certification, a three-year program of investment analysis towards the title of Chartered Financial Analyst. I took the Level I exam in June and I am happy to report I have passed the exam, along with 34% of the other candidates.
The notice also reports high level performance on each of the exam topics in the bucket of >70%, 51% - 70% and <=50% (% of questions answered correctly). Among the various topics, I achieved 70%+ accuracy on Financial Statement Analysis, Economics, Equity Analysis, Ethical & Professional Standards, Fixed Income Analysis, General Portfolio Management and Quantitative Analysis. I was reported as relatively weak on Alternative Assets and Derivatives. I am very happy about the result, considering I only had about four weeks of night time to prepare for the exam.
Does it mean I am a pro now? No, final desgination of the CFA title requires successful completion of Level II and Level III, plus evidence of relevant working experience. Nevertheless I am more than looking forward to it.
(Reminder: Still, I advise you not rely on information in this web site to make your personal finance decisions. Check out the ground rules of PFBlog.com for more details.)