TimeOut

sidneyc
2009

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I tend to agree...

.. even though I'm a charterholder myself. I'm originally from a computing background but sat the tests as my employer is in the finance industry and it's beneficial to have some sort of qualification on the finance side for me.

I do agree with Ken that while the exams are difficult, it's usefulness (in terms of material learned, not the fact that you have the "designation") is somewhat debatable. There's a significant overlap of material between the CFA course and an MCom course (in my case). I'm sure we would be able to learn the same knowledge from other courses.

I guess what sets it apart is the rigorous fashion of the CFA exams. There are only 3 exams covering everything, and the coverage are quite comprehensive (ie, exam questions touch on very fine details), as opposed to courses that are perhaps separated into many subjects tested over longer periods. Personally, I feel that it test a candidates "memory capacity" more than anything.

As for the practicality of the course, nothing replaces work experience. A CFA charterholder does not immediately become good at analying stocks, or managing investment portfolios. It only provide fundamental knowledge to work in the finance industry.