A Unique Program

The CFA Program offered by the Institute of Chartered Financial Analysts of India University, Tripura is a unique program covering the areas of financial markets, financial analysis, valuation of assets, portfolio management, mutual and other funds and professional ethics.

The CFA Program has been developed in the context of the present and future needs of the investment industry and the CFA profession.



The core body of knowledge of the CFA Program includes current and evolving concepts, techniques and applications, and also providing the flavor of the frontiers of knowledge.

The CFA Program is offered in two formats: Regular (24 months) and Accelerated (12 months).

Objectives

The CFA Program is a postgraduate program with the following broad objectives :

To improve the ability to develop a framework for financial analysis and to rationally evaluate alternatives for purposes of decision-making.

To deepen insights into practical applications of financial analysis in a dynamic investment environment.

To encourage aspiring financial analysts equip themselves with the latest tools and techniques.

To develop contemporary body of knowledge and skill-set and make them available for those seeking rewarding careers in the investment industry era of globalization.

The Approach

The CFA Program follows the following distinctive but inter-related approaches :

Basic Knowledge aimed at improving students' understanding of certain fundamental phenomena and relationships underlying the changing world of investment management.

Tools and Techniques are required to equip students improve their analytical ability and power of integration and synthesis in the context of financial markets and instruments.

Application Areas linking the theoretical studies to the practical problems faced by financial analysts and investment managers.

Professional Ethics aimed at inculcating in the students an ethical approach in their professional interactions and a sense of personal, corporate, and social responsibilities.

Focus Areas

The Program has five focus areas:

Financial Markets
Financial markets include capital markets (equity, debt and derivatives) both primary and secondary segments. The players include the issuers of financial instruments, the institutional and individual investors, the intermediaries (like investment bankers, brokers, bankers, etc), the financial analysts, the media, the mutual funds, pension funds, hedge funds, the stock exchanges (like Bombay Stock Exchange, National Stock Exchange, etc), and the regulators like Securities and Exchange Board of India.

Analysis and Valuation
The various financial instruments like equity, fixed income securities (like bonds), and derivatives (like options, futures, and swaps) have different risks associated with them and yield different returns. These risks and returns have to be carefully analyzed and the instruments have to be properly valued applying various methods of valuation.

Portfolio Management
Different investors have different risk profiles and return-expectations. Hence different portfolios have to be developed and managed to achieve the objectives of the investors. Depending upon the changing circumstances, the portfolios have to be rebalanced. Asset allocation and risk-return management are the key functions of a successful portfolio manager.

Mutual and Other Funds
A wide variety of mutual funds, pension funds, and hedge funds have come into existence. Each mutual fund has several schemes: growth schemes, income schemes, balanced schemes, sectoral schemes, index-linked schemes, tax-planning, schemes etc. Several insurance companies have to manage their investment funds as per Insurance Regulatory Development Authority Regulations. Securities and Exchange Board of India has kept in place detailed regulations for mutual funds.

Code of Conduct
The CFAs are required to adhere to the code of ethics and standards of professional conduct covering various aspects like integrity, ethical behavior, professional competence, objectivity, professional independence and public trust.

Eligibility

Regular CFA: Graduation (any discipline) with 45% and above.

Duration: 24 months.

Accelerated CFA: Only for CAs/CWAs/CSs/MBAs (Finance)*.

* Candidates who have passed MBA with 70% marks or 7.0 CGPA and above (with minimum 4 Finance Elective subjects) are eligible.

Duration: 12 months.

Medium of Instruction: English

Students who have pursued their degree program in non-English medium are advised to undergo proper preparatory courses in Business English so that they can cope with the CFA Program.

Validity of Enrollment

The students of the Regular CFA Program are required to complete Groups A, B and C within a maximum period of three years from the date of enrollment. The students of the Accelerated CFA Program are required to complete the entire program within a maximum period of 3 years from the date of enrollment. Students who are unable to complete within three years, but are still keen on continuing in the program, are required to register de novo by paying the requisite fee.

Subject-wise Waivers

Students with prior professional qualifications, are eligible to get waivers from certain subjects of the CFA Program.

SUBJECT-WISE WAIVERS FOR THE CFA PROGRAM

Subject
Eligibility for waiver

Financial Accounting
CA/CWA/MS (Finance)/DBF/MS (Accounting)

Economics
MA (Economics), MS (Finance) / DBF

Quantitative Methods
M.Sc (Statistics), MS (Finance) / DBF

Financial Management
MBA (Finance), MS (Finance) / DBF

Financial Statement Analysis
CA / CWA / MS (Accounting)


What the Qualifications refer to:

MS (Finance), DBF (Diploma in Business Finance) and MS (Accounting) from the ICFAI University.

CA means those who passed the final examinations of the Chartered Accountant examinations conducted by the Institute of Chartered Accountants of India.

CWA means those who passed the final examinations of the Cost Accountant examinations conducted by the Institute of Cost and Works Accountants of India.

MA (Economics) and M.Sc (Statistics) from any University.

MBA [and includes PGDM/PGDBA referring to 2 year PG Diploma in Management/ Business Administration] from any University or reputed B-School with specialization in Finance which, involves atleast 4 electives in finance.

3600 Flexi-mode

The CFA Program is based on study and examinations, with 3600 flexibility for students.

Study: The University provides a detailed study plan and prescribed books specially designed (as per the curriculum of the University) and meant for self-study.

Training classes: Students may attend training classes on optional basis.

Examinations: The examinations serve to finally assess and certify the students' understanding of the subjects.

Awards

All the students who successfully complete all the six groups of the program will be awarded the Master of Financial Analysis (MFA) Degree by the ICFAI University, Tripura. In addition, the University also confers the CFA Charter and Designation, subject to University Regulations.

A Special Note for CAs

As per the Supreme Court Judgement (May 2007) in ICFAI v/s ICAI [2007(5) ALD 56 (SC) reported in AIR 2007 SC 2091], Chartered Accountants can pursue the CFA Program and use the CFA Designation after completion of the Program. The notification issued by ICAI in August 1989 was quashed by the Supreme Court.