A COMPREHENSIVE OVERVIEW OF

The Top 10
Finance
Certifications
Author
WASSIA KAMON, CPA, CMA, MBA
 CFA®
Chartered Financial Analyst
Most Popular For Investment
ISSUED BY: > Globally-recognized professional
Chartered Financial designation and the most respected
Analysts Institute finance designation in the world of
investing.
RENEWAL:
This certification does not
expire. > Primarily designed for aspiring or
practicing investment professionals.
RENEWAL REQUIREMENTS:
No license renewal > Requires completing the CFA
required. Institute program, which includes 3
Annual membership to levels of study and 3 exams, covering
the CFA Institute is Asset Valuation, Portfolio
encouraged for
Management, and Wealth Planning.
members to stay up to
date.
> Average exam passing rate is 43%.

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 CFP™
Certified Financial Planner
Most Popular For Personal Finance
ISSUED BY: > Marketed as the "Standard of
Certified Financial Planner Excellence in Financial Planning."
Board of Standards, Inc.
> Ideal for professionals pursuing a
RENEWAL:
Annual renewal required
career in investment or wealth
management.

RENEWAL REQUIREMENTS: > Requires passing a 2-Part exam

Renewal Fee — $455 that mainly covers Financial Planning
Completion of 30 hours for High Net Worth Individuals, and
of continuing education The Retail Segment of Investment
(CE) every 2 years, Management.
including 2 hours of
Ethics.
> Average exam passing rate is 67%.

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 CAIA®
Chartered Alternative Investment Analyst
Most Popular For Alternative Investments
ISSUED BY: > Globally-recognized credential
The CAIA Association for professionals managing, or
regulating alternative investments.
RENEWAL:
> In contrast to CFA Level 1
This certification does not
expire. candidates (who can be as young as
a university student), CAIA
RENEWAL REQUIREMENTS: candidates are typically older and
CAIA Membership more experienced career-wise.
required
Membership Renewal > Requires passing 2 exams,
Fee - $100 to $350
covering concepts such as,
depending on
Alternative Investments, Real Assets,
membership location
Hedge Funds, Private Equity, and
and status.
Structured Products.

> Average exam passing rate is 63%.

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 ChFC®
Chartered Financial Consultant

ISSUED BY: > Primarily designed for Financial

The American College of experts and financial planners.
Financial Services
RENEWAL: > Covers a must-have list of
requirements for financial advisors,
Professional Recertification
from knowledge on tax and
Program required every 2
years. retirement planning to special needs
RENEWAL REQUIREMENTS: advising, and wealth management.
No membership
required
> The ChFC® doesn't require
Recertification Fee - students to sit for a board exam.
$50-$125 Instead, They take an examination
Proof of completion of after each course of the 8 required
30 Hours of Continuing courses to ensure comprehension of
Education required the material covered before moving
every 2 years to the next class.

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 FMVA®
Financial Modeling & Valuation Analyst

ISSUED BY: > Designed as a flexible education

Corporate Finance program with 31 courses to choose
Institute (CFI) from, but 14 required to earn the
certification.
RENEWAL:
This certification does
not expire. > Ideal for corporate finance
professionals seeking to improve
RENEWAL REQUIREMENTS: their financial modeling skills.
No license renewal
required. > Each course has a test at the end.
Annual membership to Topics covered include Financial
the CFI is encouraged Modeling, Excel, Valuation, Strategy,
for members to stay up
KPIs, Dashboards, Budgeting and
to date.
Forecasting.

> Average exam passing rate is 70%.

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 CMT
Chartered Market Technician

ISSUED BY: > Primarily designed for aspiring or

The CMT Association practicing Trading Analysts, Hedge
(formerly known as MTA) Fund Analyst, Portfolio Risk, and
Investment Managers.
RENEWAL:
This certification does not
expire. > Require completion of an intensive
and technical self-study program,
RENEWAL REQUIREMENTS: including passing a series of three
Membership is not levels and exams.
required, but
encouraged. > Topics covered include: Statistical
Continuing education & Trend Analysis, Chart & Pattern
is not required, but
Analysis, Portfolio Management, and
encouraged.
Behavioral Finance.

> Average exam passing rate is 70%.

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 FRM®
Financial Risk Manager

ISSUED BY: > Recognized as leading

Global Association of Risk certification for Risk Managers.
Professionals (GARP)
RENEWAL: > Ideal for professionals pursuing
This certification does careers as Risk Analysts, Risk Officers,
not expire. or other positions in risk management.

RENEWAL REQUIREMENTS: > Requires passing a 2-Part exam,

No license renewal covering Valuation and Risk models,
required. Credit Risk Measurement, and
Annual membership to
Operational Risk Management.
GARP is encouraged for
members to stay up to
> Average exam passing rate is 50%.
date.

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 CFS
Certified Fund Specialist

ISSUED BY: > Primarily designed for Fund

Institute of Business and Managers.
Finance (IBF)
> Requires completing a program
RENEWAL:
This certification does not
consisting of six modules, covering
expire. concepts such as mutual funds, ETF,
and REITs, Closed-end Funds,
RENEWAL REQUIREMENTS: Advanced Fund Analysis, Asset
IBF annual membership Allocation, and Portfolio
required. Construction.
Membership Renewal
Fee - $125 > The entire program takes
30 Hours of Continuing approximately 23 hours of study over
Education required
15 weeks to complete.
every 2 years.

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 FPAC™
Certified Corporate FP&A Professional

ISSUED BY: > One of the few designations

Association for Financial specifically geared toward Financial
Professionals (AFP) Planning & Analysis (FP&A).
RENEWAL:
Recertification
> Ideal for professionals transitioning
required every 3 years to or interested in FP&A leadership
roles.
RENEWAL REQUIREMENTS:
Renewal Fee - $85 to > Requires passing a 2-Part exam,
$275 depending on AFP covering several topics, including
membership status and Business Partnering, Data
recertification method Visualization, Data Mining, Excel, and
(paper or online).
Financial Modeling.
Submitting proof of
completion of 45
> Passing rate ranges from 41% to
continuing education
credits.
63% depending on the exam.

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 AFM
Advanced Financial Modeler

ISSUED BY: > Primarily designed to demonstrate

Financial Modeling Institute Advanced Microsoft Excel
(FMI) knowledge, Financial Analysis and
Financial modeling skills.
RENEWAL:
This certification does not
expire. > Candidates are provided with a
case study to work inside Excel,
RENEWAL REQUIREMENTS: building an integrated 3-statement
None reported model of a company from scratch
during a 4-hour virtual exam.

> There are no educational or work

experience requirements to get this
certification.

> Average exam passing rate is

between 40-60%.
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 Keep in Mind
Here are credentials that can help you lead both the
Finance and Accounting functions within an organization.

1
Master of Business Administration (MBA)
54% of CFOs have one, according to executive search
firm Russell Reynolds Associates.

2
Certified Public Accountant (CPA)
33.6% of CFOs are CPAs, and 10.4% hold both the CPA &
MBA credentials according to a recent research by Crist
Kolder Associates.

3
Certified Management Accountant (CMA)
About 50% of the exam covers finance concepts, including
Planning, Budgeting & Forecasting.

4
Chartered Global Management Accountant (CGMA)
Finance professionals in the Americas are required to take
the CGMA Finance Leadership Program and case study
exams to earn the designation.
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 Every country/every industry has its preferred certifications.
To determine what may work best for you:
> Ask a mentor
> Do a career gap analysis
> Survey local job descriptions
> Ask local HR professionals and/or recruiters.

Do not forget to develop your non-technical skills. They are

just as crucial as technical skills and certifications when it
comes to career success.
Certified Internal Auditor
There are multiple paths to success. Enjoy your journey!

*THANKS FOR READING*

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assiaka m o n