What is the CFA? (EVERYTHING YOU NEED TO KNOW!)

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TIMESTAMPS
00:00 - Intro
00:37 First video of 3 CFA videos
01:29 What is the CFA?
01:52 How long does it take?
02:05 How do I get the letters next to my name?
02:27 Topics covered
03:10 When can you do the exams?
03:26 How fast can you do all 3 levels?
03:54 Time commitment required
05:32 Financial cost of doing the CFA
06:19 How to avoid paying for it
06:54 Summary and final points
07:21 Questions and suggestions
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ABOUT ME:
Hey! I'm Afzal Hussein. I make videos on banking and finance, careers, productivity and lifestyle. I'm also building Simpley (a marketplace for career advice), and I teach on Skillshare. Before all of this I started my career working at an investment bank called Goldman Sachs. Hit the various links above to find out more about me. Thanks for passing by!
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What is the CFA? (EVERYTHING YOU NEED TO KNOW!)
#InvestmentBanking #University #Careers #Students #CFA

[@AfzalHussein]

Get all 9 of my Career Guides (plus my Goldman Sachs CV and Cover Letter) for £29.99 here: careerguides.io/plus

[@randomgamer9553]

You should also do a video on CFA vs Masters/MBA

[@TheKhadija10]

RandomGamer pleaseee do this video afzal

[@tariq84]

CFA>MBA

[@randomgamer9553]

@@tariq84 how can you say that? And even if CFA is better, you have to commit much more time and money into it so it's definitely not a better choice for everyone.

[@tariq84]

RandomGamer cfa is cheaper than mba dude. Only reason to spend 10s of thousands on a MBA is because u get a network afterwards. Top 5 school MBA is ok..anything else is waste of money. For 99% of ppl, a CFA is the better option.

[@cromeromail]

CFA is geared more towards equity and investment banking, whereas an MBA covers a broad range of topics related to the corporation.

[@ralph3509]

Congrats on reaching 10k subs. Hopefully many more to come. Another great video as well.

[@AfzalHussein]

Thanks, Ralph. That means a lot 👊🏼

[@TecheKnowles]

Hey! Thanks so much for this informative video. I’m contemplating whether to pursue the CFA designation or CPA designation. This decision is so tough. You’re videos are helping so much!

[@bismarcko4847]

Cfa is more finance based cpa is more accounting based so if you are working in audit, accounting etc. then the cpa is better. But if you are in IB PE AM it will be best to do the cfa.

[@i123456987654]

this video was so helpful! thank you!

[@BAMBAMBAM495]

love your show, always so informative

[@JoeMaule]

The CFA Program is the real deal. A ton of work but you learn so much. Thank you for the video!

[@ianaruasa3325]

CFA vs MSc Finance?

[@TheMrWillba]

Cool video mate, im doing the level 1 this June. I have an MBA and have found the study to be pretty significant, agree with the 300 hrs rule!

[@alenshibu16]

Hi sir Any good progress after 2years ? Just curious😊

[@rubenvandermerwe7213]

Thank you Afzal. Good video with good content. Thumbs up.

[@AfzalHussein]

Thanks for watching! :)

[@extremeforlife8563]

Love this! thank you alot

[@AfzalHussein]

Thanks! :)

[@user-cx7te6pl2h]

Great video as always. Would love to see the comparison between Masters and CFA

[@mikefieselman]

nice video! thanks for the knowledge

[@AfzalHussein]

😊

[@nadieleimporta9889]

An outstanding effort with no reward worth

[@rosmaryalgarin9292]

thanks a lot for everything you said in this video is so complete

[@AfzalHussein]

😊

[@rosmaryalgarin9292]

ok thanks

[@henrybuyanga1440]

Please may you make a video on CFA versus Masters degree and thank you for this video it was very helpful.

[@BangBangBo]

Very good video, thank you. Hard to find a good overview video.

[@petrhorky7355]

Great vid, please do MSc Finance vs CFA vs MBA video. Also, it would be interesting to hear, how do these stack up. Thank you!

[@zSkandal]

true would be interesting !

[@kieranmckinna768]

Great video again very informative . It would be great if you did CFA vs masters 👍🏻

[@AfzalHussein]

Thanks! There seems to be demand for it! Added to the list :)

[@user-xd5ol9qg5n]

其實滿感謝他的ㄟ⋯⋯在這時刻還可以讓我們笑的出來

[@hamzariazuddin424]

Great video....one edit or correction I would add is that it is actually possible to pass the exam in 18 months if you are able to pass each level on your first attempt. I luckily was able to do this and took my First Level 1 exam in December 2014 and finished Level 3 in June 2016.

[@jaymac27x10]

Taking part 1 this February, do you mind sharing more of your experience with me? I’m pretty well versed on the topics, but I’m stressing about the need to master everything lol. I only get reimbursed if I pass haha

[@hamzasafdar3779]

So helpfull thank you

[@carolinema7386]

I think it would be more useful if you share some tips to get through the exam : )

[@rudmilashehrin2502]

Hey! First of all really love your videos! Second of all, I want to do CFA in canada. So, as you were talking about the way someone can cut down costs for this degree, is it applicable for Canada too?

[@ibrahimali7504]

Hey Afzal, what advice would you give a year 12 student looking for relevant work experience to strengthen their chances of landing a spring week. How would they go about getting a placement?

[@davidphiri9579]

Great video...and so informative! Kindly assist me with the list of modules for each level.

[@kubanie71]

Would love to see a vid on CFA vs Masters. Could you also elaborate on masters in Finance/Investment? Is it worth? What grade is considered to be satisfactory? Which one is better to do CFA or a master?

[@khalid8760]

CFA for sure.

[@aslzar]

Assalomu aleykum Thank you for introduction to CFA :) I wish you barokat

[@gabrielshields8636]

Good video, I would also like the video with the comparison to a Masters. Btw the whole program costs about 2400$ and not 10000 pounds.

[@omkarpingle690]

Please do more videos on cfa. Thankyou

[@mhdka5900]

Thanks 🙏🏻

[@AfzalHussein]

:)

[@blackviper2082]

CFA Vs masters is a must need

[@mohameddawood5884]

Please do a video on CFA vs Masters

[@SpursTalkShow]

Hi Afzal, I worked for 7 years in finance between 2006 ad 2013 as a market maker in the City. I then left to pursue other interests. If I take my CFA and pass have i already achieved my 4 years of service or do you have to have 4 years of service post CFA completion to put CFA after your name? Thanks for your answerin advance

[@AlphaFusions]

Afzal, can you please please make a video on phone interviews? I have one coming up on Thursday.

[@chrisdeezy311]

I love you bro

[@amaandatoo6110]

Hey Afzal, I am currently a finance major pursuing my CFA and was wondering what you recommend for a minor? I’m deciding between accounting and economics. Thank you

[@damonh14]

Do you think it makes sense to start the CFA right after you graduate before getting a job or waiting a year or two to start it once you've already been working? Thanks Afzal!

[@Dean-tf5nv]

From my experience, I'd recommend doing it towards the end of your studies and try do as many levels as you can before entering the workplace BUT without compromising your degree. My reason for this is that while you're doing your degree you are already in that studying mindset. Also, from speaking to people who work in audit (doing CA and CFA), they find it tough to work 8-10 hour days and still make time for studying. The sooner you get the exams done the better.

[@vinitmotani4466]

I am doing CA, So CFA is worth doing for me ?

[@aspire2340]

@@vinitmotani4466 yess. you get best of the both world

[@jaymac27x10]

Doing it after a year or two in your finance job actually makes it much easier due to all the experience and knowledge u gained on the job

[@macnaggar3558]

Hi Afzal thanks so much! The CFA websites provides an in-depth breakdown of all topics for Level1... should I study from other materials as well?

[@anoopg23]

Bro, does the work experience mean only in the investment banking / financial market sector OR just any finance function related one..?? I'm currently working on the finance domain in the service industry with around 10 year experience. Will that suffice..?

[@adarshkelly5386]

Informative video...❤️bro..can you please tell me the name of intro music 🙏

[@TOBIAJOSEJERRY]

Please make a video on how to pass the CFA.

[@TheSunPrince]

Rock angel!

[@jacksonzheng4288]

Hi Mr Hussein, I am a civil engineer and already had 3 years engineering experience. Am I able to start cfa and is there a lot of preknowledge for this ?

[@AfzalHussein]

Get 20% off Analyst Prep products using the code AFZAL20 and this link: analystprep.com/shop/cfa-level-1-learn-practice-package/?ref=afzal

[@mufazzalmansoorali3284]

I think now CFA level 1 attempts are 4 Level 2 and 3 are 2 attempts each a year . Am I right ?

[@franf87]

Good video. Although is not necessary to be a succesfull independent trader. Yet it is necessary to work on an institution, or bank.

[@majd9956]

Hi afzal! I'm registering for Level 1 May session, will there be enough time to study? I will have 6 and a half months! A lot of people told me that it's not doable and I should consider registering for August since I'm a fresh graduate who wasn't that good at college, but now I have both motivation and time! What do you think would the realistic decesion?

[@ahterozanmetin]

Great video, can you do a separate video on MsC Finance, pros and cons etc? Would be great also

[@murilocarrascozapasseri7089]

Thanks for the video! You talked about having 4 years of professional experience. I don’t have them yet but I was wondering if it’s possible to take the tests even if I don’t have the experience. If I pass all the tests, is it possible to get the cfa certificate and only after this getting the 4 years experience? Is that ok? Or should I wait to have the experience before taking the tests? Thanks!

[@antoinedubois1831]

To complete CFA, you need 48 months (4 years) of finance related work and having passed the 3 exams. It doesn't matter if your work experience is before, during or after the exams.

[@serratiaroopnarian4199]

Hey Afzal! I’m currently in my honours year and next year I start my internship as a trainee accountant I have a bachelor of accounting science degree So can I actually write the CFA exams since I’m in my honours year or next year when I’m in my first year of work ? Thank you so much

[@shihabchowdhury2383]

I have a question.. when we can do CFA after BBA or MBA or can we do it after joining a post like junior finance analyst?

[@safeeruddin2927]

Hi! Certification you would recommend to a masters in economics graduate, that requires a little less commitment and duration than CFA?

[@justinlee7738]

Maybe AICPA?

[@alethiaarreola1847]

If I have a business background but not a finance background per sé, would you say it is more difficult to pass the exam? Is CFA just for finance undergrads?

[@kevinpark454]

Any requirements needed to do CFA beforehand? Or do you just need a degree?

[@arnobsaha3119]

Hello Afzal, I have a question regarding the eligibility for sitting for the CFA level 1 exam. I have bachelors in accounting and masters in financial planning, but I am working in a non-financial industry. However, I am looking to shift my career into the finance sector. To sit for the level 1 exam, is there any prerequisite that I have to have work experience in financial/banking industry?

[@drashtimavani8291]

This is a very off track question but I'm very confused What would you do if you were in a place where one option is doing BCOM from Nm/mithibai + CFA where you get a good exposure and it also benefits your CFA schedule like you can give enough time for CFA while studying BCOM or would you rather go for BFM+ CFA from an little avg college jaha pe getting exposure is very minimum; Is it like when you go for a job; cfa+ bfm would have more preference than bcom+cfa(with few other short term certifiactions)?

[@thspamed]

Hi Afzal, i currently work in aerospace as an engineer but I help a friend of mine with idea generation, macro economic outlooks, trade ideas etc for a bespoke family office structure (Its long/short equities) I do this out of my interest in finance in my spare time, I'm ok with Bloomberg and Eikon etc. Being that this isn't my actual job and I now realise that I'd like to transfer into finance (im 33) as a junior analyst or some similar role but have not gone through an internship etc, are there any decent options here? would it be a good idea to get a level 1 completed as a means of supporting any applications? Thanks!

[@TheTruthFadeswithTime28]

I remember I got pushed a garbage course for the GMAT from another KZbinr; so I hope this is not the same.

[@TheYungShakz]

Afzal could you do a video on 'Investment Analyst' and maybe compare it with Investment Banking please? Thanks

[@obaidkhan7111]

Please make a video on CFA vs Masters

[@pankushgoyal7686]

Is there any saturation point in investment banking career as everybody is running towards it?

[@mromneyobama]

I failed my CFA Level 1 Exam. But I am now a millionaire and doubles my money every 4 years.

[@dlorit1512]

I graduated in BSc Economics, It is necessary to study CFA to work in wealth and investment sector? Would it be more beneficial in senior years of working?

[@AIF1311]

Hi afzal, brother can plzzz help me out how I can cut down the cost for this degree CFA? Where I should look for it or who do I should ask for ??

[@biodunbalogun9613]

Afzal, how about if I want to take the course for knowledge sake without necessarily practicing with the certification??

[@sheikhabdullah9288]

Sir, I'm pursuing MBA in international business from jamia ,can u guide me if cfa/frm will augment my resume as I have interest in finance, Or are there more feasible courses for me

[@adamdyer4911]

Aside from branding and having more knowledge and skill, what kind of positions can one secure if they have a CFA? Obviously an entry level position in investment banking does not require a CFA. Would it be helpful to have this certification if you want to work at an investment boutique? Wealth management? What are the pros and cons (cons being people don’t really care that much if you have one as I know sometimes that attitude towards a MSF is)

[@maxb5957]

Max was here

[@kemingyu4266]

Hoping to hear from you about whether it is worth it!

[@AfzalHussein]

:)

[@kemingyu4266]

Hey Afzal, I got a quick question. I'm currently a freshman in engineering at Cambridge (which sucks when looking for jobs). I currently have 3 spring program under my belt (accounting, trading, consulting, tech, no ibd) and I recently received an offer from a very small PE firm in Singapore. I hold 3 leadership position in Cambridge as well and I wish to ask whether the experience in PE will set me apart from others, especially those who have ibd spring weeks (largely because I don't have an ibd spring offer). Also what sort of skills should I look out for in PE that can be mentioned in IBD interviews during my second year. What sort of stuff should I emphasize on my CV next year? Thanks for reading and hope to hear from you soon!

[@kodiac4231]

Hi I am currently studying Accounting & Finance and in my second year. Would it be worth me trying to complete CFA Level 1? I am not 100% sure what it is I want to be but I am starting to lean further into investment banking.

[@barackalbarak1716]

Hello, Thank you for all information, I have 3 year experience working in a Bank in retail banking MIS Senior office (analysis) and I hold 2 years Diploma in Business Mangment and other 2 years Diploma in Business Adminstration, is that enough to get accepted to set for CFA exam? Thank so much

[@rimaabouassaf5201]

hello ,i have a bachelor in banking and finance do you advice me to continue to get the CFA ? and how many years i need to study to have the CFA certificate? thank you

[@Dean-tf5nv]

Passed CFA Level 1 in December 2019! Any advice for level 2? I plan on doing it in June 2021. I only spent 3 weeks studying about 6-8 hours a day for Level 1 but I don't think I'll get away with that for level 2 or 3. Appreciate any advice you have!

[@justinlee7738]

Hey! I just wanted to know the detail about Level 1. I am an A-Level student and just got accepted into University. I took Business Studies and Maths for my A-Levels while studying Economics and Accounting by myself. How long or how committed do you think I need to put in for the level 1 exam? Is 3 weeks studying about 6-8 hours a day still valid for me? Congratulation on your CFA Level 1!

[@Dean-tf5nv]

@@justinlee7738 Howzit man! I completed my degree last year which specialized in Finance and Accounting so throughout my degree I was indirectly studying for CFA. I'd say that doing it straight out of school will he incredibly difficult because of the finance you cover as well as the financial reporting (accounting). I don't know what work you cover in A Levels as I never did A levels but I'd suggest looking at the content for Level 1 and assess for yourself what work you know and what work you still need to cover. Let me know if there's anything else I can help with 🙏

[@justinlee7738]

@@Dean-tf5nv Thank you! Good luck on your Level 2 exam!

[@adedoyinadeleke3304]

@Dean Terence, congrats, how did you do it within a short period???I have less than 8 weeks for my level 1 exam, please could you give me some hints on how to go about it. Thanks

[@Dean-tf5nv]

@@adedoyinadeleke3304 Hi, thank you very much! So there aren't any 'hints' that I can give but strategy-wise I would suggest the following: 1. Look at the sections which are weighted the most (if my memory serves me correctly the biggest 2 are Accounting and Ethics) and prioritise those and then work your way 'down' in terms of the weightings of each section. 2. Pick your battles. For me, personally, I struggle with stats but am very comfortable with accounting so in my test I spent more time with the accounting to make sure that I score those marks and then left the stats stuff for the end of the paper because I didn't want to waste time working out answers and then other sections suffer as a result. However, in terms of studying, prioritise the sections you struggle with (keeping their weightings in mind) because you obviously need to all the sections to pass level 1. 3. Make sure ethics is the last section you cover the day before the exam because it is arguably the most important. Best of luck and if there is anything else you need help with then let me know :)

[@danilomorais5602]

Afzal, I’m in the half of my college degree, can I get the CFA level 1?

[@MihirChavda-zw6dn]

hello afzal, my qn is how can i get into CFA after completing the ACCA F9 paper which is also equivalent to an advanced diploma? and what exemption can i get by completing ACCA F9 for doing a masters in CFA?

[@cookneatwithkrishna3835]

Make video on CFA vs MBA

[@nethinmanuveljacob]

If I fail in level 2 , should I want to again start from level 1 or level 2 itself.

[@nancicicade8568]

Hi, thanks for your video. I wanna know the career development. for example how long could one person work in such organizations. And is it common for people to enter the industry when their age is close to /around 30?

[@siwellamncedisi9896]

Bro I always here this beat on KZbin videos? Who’s beat is it? Where can I get it?

[@vittalg5033]

Hello Afzal! I'm currently an undergraduate who wishes to work in investment banking specifically in the investigation department, if that makes sense like fincrime, AML. would CFA help me with that in the uk?

[@RajatKumar-hx7dz]

please make a video on CFA vs MSC FINANCE

[@AfzalHussein]

Added to the list :)

[@yeshwants2133]

I finished UG 2020 batch is this right time to do CFA?

[@Kj92209]

ACA v ACCA v CFA.... which one is more well rounded in the world of finance

[@randomgamer9553]

I think ACA is the most well rounded in the world of finance.

[@tariq84]

RandomGamer this comparison is stupid. ACA is accountancy, CFA is so much more than accountancy- derivs, ethics, eco, stats. If ur looking for something well rounded and most covetted in the world then CFA is ur best choice. If u want to work in the finance department or be an accountant then do ACA

[@DN-wv6yp]

CFA

[@aishwaryasrinivasan9139]

Thank you so much #afzal 😍😍

[@AfzalHussein]

Thank you for watching :)

[@pranitmathur2507]

Afzal is CFA really needed to enter investment banking ?

[@troybernal5085]

CFA vs CPA? Which earns more? Which line of work is more interesting?

[@AMANDEEPKAUR-pg8py]

I have a question that can a person do CFA by self study instead of taking classes ?

[@krishnakumarimani1949]

Hi afzal.. I completed MBA (Finance and Marketing?)3 years back and have only 6 month job experience in accounts executive role.. and the next 2 nd a half years i committed with marriage life being house wife...Because of some health issues and commitments i wasn't able to go job. I dont have the instructor before to know about all these... Could you please enlight me what can i do next to become a Financial Analyst.

[@vikramshinde9649]

what books do you recommend for CFA level 1?

[@rishisharma9555]

Bro I have completed my bachelor's in commerce (b.com) and I want to continue my study.i want to do c.f.a in Canada and can I do ?? . And also is it require ielts exam for this. Plz reply soon

[@amanbeniwal1576]

Does Retail banking count as 4 year experience?

[@randybrickson4290]

cool watch … looks like a world time or GMT but I can't quite tell

[@ukaszpachucki8314]

I'm wondering whether CFA is actually a better investment than CIMA/ACCA. What do you think?

[@mohammadghali78]

So that means i cant take the exam or work for it until i get 4 years work experience

[@lapizza7206]

I wonder if working on a PhD in economics would count towards this 4 year requirement?

[@sidharthmishra47]

Hi Afzal I'm a international student doing diploma from india, can you please tell me what level of education I need to give CFA exam

[@patrickbrejza3347]

I currently have 2+ years of work experience full time and currently in my 2nd out of 5yrs in my degree as I'm doing the degree part-time. Would I be eligible to take the exams?

[@jojojojojseee]

Anybody can take the exam. Seriously, anybody. I have seen people from any background take them (even non-finance related, like HR.) Nonetheless, taking the exam (and passing it) is not the same as getting the CFA. It is at this point that you have to show 4+ years of certifiable finance-related work experience to get it.

[@vinayagarwal2682]

Do big investment banking firms like ( Morgan Stanley,JPMC, Goldman Sachs, Barclays and many more) hire CFA's with one to two years of work experience?

[@skillnub70]

You can’t get the CFA without 4 years of relevant experience.

[@AfzalHussein]

You need at least 4 years of work experience to have the letters 'CFA' next to your name, however, if you have done and passed all three levels you can mention so in your CV/cover letter/application.

[@samarthmandviwala8114]

Hii, is there any difference between C.F.A and Masters in Financial Analyst? Please help me out

[@AnaVitoriaRodriguesLima]

master of finance vs master of financial engineering/computational finance/mathematical finance I consider the master of finance as pretty useless as all you can learn there is definitely learnt in the first year of Analyst if not before. But what's your opinion on masters on financial engineering let's say?

[@dodo199339]

If some one has purseud MBA in BKFS, is it worthy to pursue CFA additionally?