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Accelerated CFA PROGRAM

The Fast-track Option : 2 Years
ICFAI offers the Accelerated CFA Program for the benefit of professionals, working executives and full-time students of certain courses enabling them to complete it in 2 years instead of the normal 3 years.

Curriculum
The curriculum of the Accelerated CFA Program is the same as that of the Regular CFA Program.

Program Structure
The CFA Program is divided into three levels : Level I, Level II and Level III.

Eligibility
Candidates under any of the following categories are eligible to enroll into the Accelerated CFA Program :

  • CAs/CWAs/CSs
  • Candidates with PG qualifications like PGDBA/MBA/MMS/MFC/MIB/MBE/MCom etc.
  • Graduates with 60% and above marks.

The following categories of candidates are also eligible to enroll into the Accelerated CFA Program, provided they are graduates.

  • Candidates who successfully completed the Intermediate examinations of the Institute of Chartered Accountants of India (ICAI), the Institute of Cost and Works Accountants of India (ICWAI), the Institute of Company Secretaries of India (ICSI) or the CAIIB Part I examination of the Indian Institute of Bankers (IIB).
  • Bankers with CAIIB qualification.
  • Full-time students of the PGDBA/MBA/MMS/MFC/MIB/MBE/MCom Programs with business schools (recognized by AICTE)/University Departments, IIMs and other reputed institutions.
  • Candidates pursuing MBA (by correspondence) with Indira Gandhi National Open University (IGNOU) and other Universities/All India Management Association (AIMA)/Indian Institute of Bankers/Icfaian Council for Open and Distance Education.
  • Directly Recruited Officers in Banks, Financial Institutions and Insurance Companies.
  • Class I officers in Central and State Government Services.
  • Executives having a minimum of 5 years experience at managerial level.
  • Faculty members having a minimum of 5 years teaching experience at undergraduate/postgraduate level.


Duration
The Accelerated CFA Program may be completed in a period of 2 years through study and examinations.

Eligibility for Examinations
Candidates of the Accelerated CFA Program have the flexibility of appearing for examinations in a combined fashion for Level I and Level II together, and subsequently for Level II and Level III together. To be eligible to appear for Level II and Level III examinations together, candidates should have completed Level I.

Candidates are eligible to appear for the first examination (one Group) after three months from the date of enrollment. Subsequently, after every three months they can appear for one additional Group.

Subject-wise Waivers at CFA Level I

Candidates with prior professional qualifications like CA/CWA/CS are eligible to get waivers from certain subjects in Level I of the CFA Program as indicated below.

Subject Eligibility for waiver
Financial Accounting Chartered Accountants, Cost and Works Accountants
Management Accounting

Chartered Accountants, Cost and Works Accountants

Economic Legislation

Chartered Accountants, Cost and Works Accountants, Company Secretaries

 

A Comparative Perspective
Regular CFA
Accelerated CFA
3 years 2 years (saving of 1 year)
All graduates All candidates should have specified professional qualifications and/or experience (with a bachelor's degree) or they should be first class graduates.
Examinations can be taken Level-wise, sequentially. Flexibility in taking examinations combining Level I and Level II; and Level II and Level III.

Note : All the rules and regulations relevant to the Regular CFA Program stated elsewhere in this site are also applicable to the Accelerated CFA Program, except where stated otherwise.


Period of Validity of Enrollment

The candidates are required to complete the CFA Program (all the three levels) within a maximum period of seven years from the date of enrollment.

They are also required to complete Level I of the CFA Program within three years from the date of enrollment.

Candidates who are unable to complete the program within the time-frame stipulated above, but still keen on continuing in the program, are required to register de novo.

Award of Certificates

The certification program for financial analysts, designed and administered by ICFAI, has a modular structure. At the end of each Level, the successful candidates receive a Diploma from ICFAI as indicated below. After completing Level III, the successful candidates will be eligible to receive the CFA Charter.

On successful completion of Level I Diploma in Business Finance (DBF)
On successful completion of Level II Advanced Diploma in Finance (ADF)
On successful completion of Level III PG Diploma in Financial Analysis (PGDFA), leading to the CFA Charter

Rank Certificates, Merit Certificates and Medals

Based on the performance at the Level III examinations, ICFAI awards Rank Certificates to top 10 candidates. Merit Certificates are awarded for the top performer in each Subject. Gold and Silver Medals are awarded for the top performer in each Group. A Special Award is given to the Best-Outgoing Student every year.

Award of the CFA Charter

All the candidates who successfully complete the CFA Program of ICFAI will be entitled to receive the CFA Charter from the Council of Chartered Financial Analysts (CCFA), subject to fulfilling the conditions of membership in CCFA.

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