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Old 07-15-2011, 03:20 PM
 
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In order to take this exam, do you have to have a finance/accounting/business degree?

If you don't officially have to get those degrees, in reality, don't you really need it in any event since it requires four years of practice in business, which you'd be unlikely to have without a formal degree in finance or related?
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Old 07-17-2011, 01:53 PM
 
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From what I understand, you do not need the business degree, but it would be an even harder exam than it already is without them.

Many people self-study, but I think they have business backgrounds already. If you did not get a business degree, you would probably have to study so much to the point where you practically know enough to have one.
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Old 07-22-2011, 10:59 PM
 
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How hard is the exam?
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Old 07-22-2011, 11:24 PM
 
Location: San Francisco, CA
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Quote:
Originally Posted by Hudlander View Post
How hard is the exam?
It is legendarily brutal. Arguably the hardest financial certification. Three levels, each progressively harder, each culminating in a six hour exam. Most people do about roughly a level per year - if they pass. The CFA Institute (test makers) says that successful participants report spending an average of 250-300 hours study time for each level. Less than 20% of people who start it make it through.

Pass Your CFA Exams On The First Try

Completing the CFA Program

Frankly, if you're looking to just get a job in many areas of finance/accounting, you don't really need it. I have a good career in corporate finance just fine without it - in face, a CPA would do much better here. For my job, you mainly need a degree in finance/accounting and maybe an MBA. Even many aspects of I-banking really don't need it. The CFA is really ultimately focused towards certain specialized areas of investments, particularly those dealing with complex portfolios. A friend of mine from the corporate finance world who made it through the tests now works as an associate director for a hedge fund.
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Old 07-27-2011, 10:34 AM
 
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Quote:
Originally Posted by ambient View Post
It is legendarily brutal. Arguably the hardest financial certification. Three levels, each progressively harder, each culminating in a six hour exam. Most people do about roughly a level per year - if they pass. The CFA Institute (test makers) says that successful participants report spending an average of 250-300 hours study time for each level. Less than 20% of people who start it make it through.

This is intriguing, I'm tempted to for it just to prove I can pass it.
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Old 08-06-2011, 08:09 PM
 
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I have a question do you think Accounting/Finance majors have good opportunities in this market. I am nurse but I want to switch fields. I saw a program for MBA/accounting, and it allows you to sit for the CPA after one yr of employment at a public firm. I was trying to guage how good such a degree would be in this market. Also, I'm 30 yrs old, so any input from anyone would be beneficial. The reason I put age was to note the competition from younger grads. Thanks
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