The CFA exams for the most requested financial analysts credentials on Wall Street and in other major financial centers of the world, will include for the first time the topics of blockchain and cryptocurrencies ] as of 2019, a CFA Institute spokesperson told Bloomberg.
The credentials of Chartered Financial Analyst (CFA) or Certified Financial Analyst, levels I, II and III are delivered later of the approval of the exams that have been applied by the CFA Institute since 1963, and are carried out each year in June and December in 170 cities and 93 countries, including several in the Latin American region.
Considering that the blockchain technology and cryptocurrencies have had a notorious impact in the financial world, the CFA Institute decided to incorporate in the curriculum corresponding to the exams from 2019, the topics of bloc ckchain and cryptocurrencies. This modification, which was announced by Bloomberg, will be fully known next August, when enrollment begins for exams next year.
The topics mentioned will be incorporated into a new section of the curriculum denominated FinTech in the Management of Investments, partly by demand of the own aspirants to the certifications and by greater points of coincidence between important companies of the traditional financial world and diverse initiatives related to cryptocurrencies. These companies include Goldman Sachs, CBOE and CME. These last ones played an important role in the adoption of bitcoin in the traditional financial market thanks to the sale of futures with this asset last December.
Director of general education and curriculum of the CFA Institute, Stephen Horan , points out that blockchain and cryptocurrency fields advance more quickly than others, while perceiving them as more durable. " This is not a passing fad ," says Horan.
As in a number of highly specialized academic branches, certifications are a sure means of obtaining a job. In telecommunications for example, there are certifications that were driven by the Cisco company but managed independently. In the case of CFA, skills are required in the financial area as well as accounting and auditing.
As proof that exams have increased their level of demand since they began 55 years ago, in 2017 they presented the exam for CFA level I a total of 131,271 and the pass rate was 43%, percentage that has remained almost unchanged in the last five years for level I. The CFA Institute, once delivered the study materials for the exams recommended 300 hours of study.
In exams held last June 6, a record number of applicants for CFA certifications was reached, since they presented 227,031 applicants, while the total of aspirants for all 2017 was 219,939 . Among the Latin American cities where there are centers for the presentation of these CFA exams are Buenos Aires, Bogota, Santiago de Chile, Rio de Janeiro, Caracas, Lima, Guatemala, Mexico City and Panama.
Image Featured by skarie / stock.adobe.com