It's better to ask early than to ask wisely. Hello classmate, I will give you a detailed introduction to CFA and FRM today. No further talk. Please listen to me slowly.

First, let’s briefly introduce CFA and FRM.

What exactly is CFA?

The full name of CFA is Chartered Financial Analyst (Chartered Financial Analyst). It is a strict and high-value qualification in the global investment industry. It sets norms and standards for the global investment industry in terms of ethics, professional standards and knowledge systems.

Since the establishment of the CFA course in 1962, it has set global standards for investment knowledge, principles and ethics, and has been widely recognized and recognized.

The Financial Times magazine in 2006 compared the CFA professional qualification to the "gold standard" of investment professionals.

So what is FRM?

FRM (Financial Risk Manager) is an international qualification certification in the field of global financial risk management. The FRM exam began in 1997 and is held in mid-November every year. It has offices in Beijing, Shanghai, Wuhan, Chengdu, Guangzhou, Nanjing, Hong Kong, and Taipei in China.

Test points.

There are about 1,500 people in China who have obtained FRM certificates.

Although the FRM exam has not been established for a long time, it has developed extremely rapidly. It has been recognized by Wall Street and other famous European and American financial institutions, risk management departments of large companies, and government regulators, and has initially become the most authoritative certification in the field of risk management.

Moreover, all FRM exams are standardized and the cost is relatively low.

Therefore, friends who are interested in financial risk management or are currently engaged in related work may wish to give it a try, which can not only improve their risk knowledge, but also add a major bargaining chip for workplace development and career development.

Speaking of which, you have to ask again, what is the difference between CFA and FRM?

Don't worry, listen to me slowly, here's the difference between them: 1. Exam content: There are ten CFA exam contents: ethics and professional standards, quantitative analysis, economics (Mike Parkin version)

, financial statement analysis, corporate finance, investment portfolio management, equity investment analysis, fixed income securities analysis, derivatives analysis and application, and other investment analysis.

The comprehensive examination of the FRM exam includes introduction to risk management, quantitative analysis, financial markets and financial products, pricing and risk models, market risk measurement and management, credit risk measurement and management, operational risk measurement and management, fund investment risk, accounting, law, etc.

content.

2. Exam difficulty: Friends who have learned about the two certificates will feel that CFA is a little more difficult than FRM, because the CFA examination is more detailed and the passing rate is not that high.

And except for Level 1, the other two levels can only be tested once a year.

The fastest time to pass CFA is two and a half years. The official time given by CFA is 4.5-5 years, which shows that its difficulty should not be underestimated.

FRM is slightly less difficult than CFA and has a higher passing rate.

There are only two levels of the FRM exam. You can take one level in the morning and the other in the afternoon.

However, I didn’t pass the Level 1 test in the morning, and I couldn’t pass the test in the afternoon.

The time cost of FRM will be lower than that of CFA. The overall difficulty of FRM is equivalent to CFA Level 1 and Level 2 (of course, this is just an analogy). 3. Exam positioning: First of all, as far as CFA is concerned, the knowledge learned from CFA can be called a financial encyclopedia.

Book, CFA covers almost all finance-related content such as equity investment, bond investment, alternative investment, corporate finance, derivatives, econometrics, etc.

CFA Level 1 is mainly about introducing financial instruments, CFA Level 2 is mainly about valuing and pricing these financial instruments, and CFA Level 3 is mainly about how to use these financial instruments for asset allocation.

You can learn CFA from scratch, because CFA can help you systematically build a financial system and have a general understanding of the entire financial industry and financial markets.

As for FRM, as you can tell from its name, it is highly targeted in the field of financial risk management.

Learning FRM can provide a systematic construction of the financial risk field, with great emphasis on mathematical statistics.

4. Examination fees: - CFA examination fees are calculated based on the first phase of the CFA exam in June 2018: CFA registration fee: US$450 (only needs to be paid once) Registration fee for the first phase of each CFA level examination: US$650, tax

$74.

*If you need paper version of the textbook, you will need to add a $150 textbook fee and a $20 shipping fee.

Total: 45650X3+74=2474 US dollars.