Chartered Financial Analyst Training Key Terms

Get a head start on your chartered financial analyst training with these key words

By M. Krasniak, Freelance Writer/Editor

The Chartered Financial Analyst (CFA) designation is one of the most respected professional certifications in the finance industry. There is no one program of training for this designation, although the exams focus on known topics. The candidate can pursue review classes, which focus on preparing one for the exams, as well as take practice exams. Online tutorials for specific concepts can be useful, but the candidate who wants a broader picture of the field of finance may want to pursue online finance courses. The CFA Institute sponsors societies all over the U.S. that can help you find a CFA study group. Here are some key terms to get you acquainted with CFA training.

Practice exams

While studying the material is important for everyone, it can be more important to focus on those elements of the CFA program that you don't know well. Practice exams are an invaluable tool in identifying weaknesses in one's own knowledge.
Try: Check out the bundle of mock exams that offer a nice variety of the types of questions asked from CFA Exam Notes.

Online tutorials

You may be unable to attend a classroom training session, but that doesn't mean you can't find excellent training elsewhere. There are varieties of dedicated CFA training tutorials available online. These are ideal substitutes for traditional in-class learning, as there is still an instructor, and the training schedule is more flexible.
Try: See the Finance Grid Limited website, which has tutorials for the CFA Level 1 exam.

Online finance courses

You may not need to study the entire body of material tested on the CFA exams. If you need to focus your attention on just a few topics, consider some online finance courses that deal only with those topics. For example, if you are strong in equity valuation but weak on fixed income, pick up an online course that teaches only fixed income. Many of these courses are instructor-led, so you get good expert training in the field.
Try: Check out the Financial Management Training Center. There is a wide variety of finance courses for topics highly relevant to CFA training.

CFA study group

If you can't take a course online or in person, you can still study with your peers in the program by joining a CFA study group. These can be a valuable source of help becausesomeone usually knows an area of the CFA training program with which you may be struggling.
Try: Use the search function provided by The CFA Institute to find CFA societies in your area to match you up with a study group.

CFA study material

If you choose to study on your own, you will need to procure the appropriate study materials. There are several topics tested on each CFA exam, and no one book will cover them all. In addition, the CFA study material needs to be specialized because the CFA exam includes ethics sections unique to the CFA program.
Try: Look on the website of the DF Institute for more information on a variety of study materials for the CFA exam.