CFA exam postponed, with no tests until at least December
The CFA Institute postponed its June exam because of the coronavirus pandemic, with candidates who were planning to sit for the test delayed until at least December.
Those registered for the June chartered financial analyst exam will automatically be transferred to the next two test periods, and the institute is working with its partners globally to determine when that might be, according to a statement Thursday. December is the earliest opportunity for the exam to be re-administered.
“As the pandemic continues to intensify, with no certainty of when it will abate, we have made this decision with a heavy heart while knowing that it is in the best interest of all of our stakeholders,” Margaret Franklin, chief executive officer of the institute, said in the statement.
More than 245,000 people were registered for the June exam as part of the three-level program to earn a credential from the most challenging test in finance, hoping to improve their job prospects. The pandemic has prompted the cancellations of conferences, concerts, university classes, sporting events and other gatherings around the world.
With the development of global economic integration, the financial industry has been discussed vigorously and concerned by everyone. The growth of the financial market has created unprecedented demand for investment talent. Employers and investors need standardized scales to measure the professionalism, integrity and knowledge reserves of employees in the financial industry in order to better manage and invest their assets, chartered financial analyst (CFA) is such a kind “rule”.
As a registered trademark of the Association for Investment Management and Research, the Chartered Financial Analyst Certificate is increasingly recognized and authorized worldwide. As a great number of CFA charter holders increase, it will have unpredictable and positive effects on the operation of international financial centers and capital markets.
Bo Zhou, Weiting Wu and their team, taking Hong Kong and Singapore as examples, conducted a study on the influence and function of CFA in international financial center and capital market. This study, published at the journal of Finance and Market, first gave a brief of the development process of CFA and the content of this exam, and then explained the growth of CFA applicants and the demand for CFA in Hong Kong and Singapore's capital markets.
The author believed that CFA had great appeal to the entire capital market. A large number of CFA concessionaires gathered international financial centers can attract the entry of international financial companies, further promote the economic development of local financial centers and surrounding areas, and promote the development of overseas markets for these companies.
Read the full paper at: http://ojs.usp-pl.com/index.php/fm/article/view/1899