1. What's the comparison between financial professional courses and CFA exam subjects?
Generally speaking, CFA curriculum system and master of finance curriculum system have quite a lot of interdisciplinary subjects. It is also said that if you have passed CFA, you will almost have passed the Master of Finance. Of course, there are many differences between them.
Second, the difference between CFA and Master of Finance
Simply put, CFA exam focuses on application, and Master of Finance focuses on research. The master of finance course almost covers the CFA exam level. CFA Test Level 2 can't cover some contents at first, but it has a background. After a little thinking, I will understand that many things are still ok. It's okay.
1, CFA exam level 1 knowledge is equivalent to foreign finance undergraduate knowledge. The first-level knowledge of CFA exam is the basic stage of basic theoretical knowledge, and all financial-related knowledge will be learned by candidates, and the exam assessment is also based on theoretical knowledge for qualitative judgment.
CFA exam level 1 is a product introduction covering the investment in the whole securities market, and it is also the starting point for many banks' internal training or training. The basic knowledge of securities market mentioned in equity products and the basic valuation model of equity products, as well as the tips mentioned in fixed income, anti-interest rate bonds, national bonds, corporate bonds, MBS/ABS and so on. Finally, futures options, fiscal policy and monetary policy in economics.
The content of CFA exam level 1 is basically covered by foreign master of finance courses, and there is basically no problem in understanding it. It will get twice the result with half the effort to take CFA after finishing the master's course. Although the principle is the same, we should pay attention to the details of CFA exam, which is different from the master of finance after all.
2.CFA exam level 2 focuses on the assessment of practical knowledge.
If the CFA Level 1 exam is about theory and the Level 2 exam is about practical ability, then the knowledge level and requirements of CFA Level 2 can basically meet the knowledge and ability requirements of investment analysts, which is why CFA Level 2 is widely recognized in the industry. Thirdly, the whole knowledge system of CFA level 2 has been qualitatively improved, that is, asset evaluation, with emphasis on financial asset evaluation. The starting point of CFA II is to use various models and quantitative analysis principles to predict and observe the complex financial market deeply, and emphasize the importance of financial analysis. The key point is actually the difference between bond and stock valuation. Equity assets focus on the continuity of ROE and the consistency between profit rate and income, so bonds focus on whether cash flow is sufficient.
Therefore, what the whole technical secondary school wants to tell us is that the valuation of financial assets actually focuses on fundamentals, and uses models and mathematics to dig deep into potential value, while technical secondary schools do not pay attention to investment management. The whole learning system of secondary colleges is enough for some analysts to use, and it can completely cover the basic value evaluation principle in the actual operation process, that is, discount based on cash flow. Because the analyst's report is mainly aimed at corporate consulting or other mergers and acquisitions, not necessarily at ordinary customers. The financial and financial chapters of these secondary companies have clearly given the valuation solutions.
3.CFA Level III comprehensively evaluates the returns and risks of the investment portfolio with the thinking and perspective of the investment fund manager, and comprehensively locates and grasps the characteristics of each investment sub-item, such as endowment insurance and venture capital, the investment weight of stocks and national debt, and the handling of unexpected problems.
CFA Level 3 covers the skills that a successful fund manager must master, including behavioral finance and portfolio management. This part is related to level 1 and level 2. We will go back to study. In fact, CFA and Level 3 are the process of analyst growth. CFA's financial knowledge can be used as a strong backing for students' graduation interviews or jobs in the future, without spending a lot of time reading extra books. Moreover, many nouns in CFA exam examples and exercises are described in professional terms, which will improve everyone's English understanding ability and adapt to learning English research reports in the future.
Although studying the content of the Level 3 exam usually needs to be completed separately, people can choose to join the association after obtaining the CFA exam qualification. CFA Association is a global organization that provides continuing vocational education and social opportunities. Members can contact each other individually or develop contacts in many activities organized by the association every year. From this point of view, if you don't have time to take a master's degree in finance, it is better to take a CFA certificate, which is also very cost-effective.