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This could be a CFA, a CFP or even a CPA. The difference among these is more than that of a single alphabet. A CFA is Chartered Financial Analyst who focuses more on analysis. A CFP is a Certified Financial Planner whose job is to devise the best possible plan for meeting your monetary needs. And, a CPA is a Certified Pubic Accountant who concern mostly with the accounting matters.

Chartered Financial Analysts Exam is perhaps the most coveted and also one of the most difficult to clear finance exams. If you are deciding to take a focussed course in Finance which has an undoubted and unmatched international recognition, then the CFA course is the best course to tread. The CFAs are normally compared with the other finance graduates from the top business schools the world over but when it comes to occupying the top managerial positions globally, the CFAs have a clear tilt of balance in their favour. So, how do the candidates get initiated into this coveted exam?

For doing the CFA course, there are three requirements as outlined below:

1. A Degree from a university or any other institute or college as accredited by the CFA institute. Candidates in the final year of the Degree or equivalent course can also apply.

2. 48 months of qualified, professional experience in a financial decision-making process.

3. Passing each of the three examinations given below:

a. Level 1: This includes an introduction to asset valuation, portfolio management and financial reporting and analysis. There is no negative marking in this multiple choice type exam.

b. Level 2: This level focuses on the asset valuation methods. This is an item set, meaning, a vignetted with a set of selected questions. This exam does carry negative marking.

c. Level 3: This CFA exam focuses on the portfolio management involving management of equity, fixed income instruments, derivatives and other investment and risk covering avenues. This exam has short-answer type questions in one section and an item set in another section. Item set section carries negative marking.

Each of the exams takes place on a single day and in two, three-hour sessions. The result of the exam is not specifically stated, but rather a pass or fail result is declared. If someone wants to judge how he or she fared in the exam, there are comparative percentages provided. So, the overall picture is not established in clear, absolute terms but is quite hazy.

Ethics are stressed all through the scheme of the CFA course. These are very important part and parcel of this program. The Board does have detailed guidelines on the verification process to be completed for all the candidates who have passes the course. Even after the completion of the course, there is a need to ensure that CFAs maintain very high level of integrity and advice and operate within the parameters of legality. These also ensure to make the people compliant with its guidelines on ethical practices and conduct.