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You can apply for regular membership of the CFA Institute if you are in possession of the following:
· A bachelor's degree or equivalent education/work experience
· A passing score for Level I of the CFA® exam
· 48 months of professional work experience in investment decision-making
· Local CFA Society membership; CFA Society membership is optional but strongly encouraged (click here to visit the CFA Society of South Africa’s website)
Professional work experience include the following:
· Evaluating or applying financial, economic, and/or statistical data as part of the investment decision-making process involving securities or similar investments (e.g. publicly traded and privately placed stocks, bonds, and mortgages and their derivatives; commodity-based derivatives and mutual funds; and other investment assets, such as real estate and commodities, if these are held as part of a diversified, securities-oriented investment portfolio)
· Supervising, directly or indirectly, persons who practice these activities
· Teaching such activities
For a job position to qualify, at least 50% of your time should be spent directly involved in the investment decision-making process or producing a work product that informs or adds value to that process. Work must be full time and can be earned before, during, or after participation in the CFA® Program. Managing your own investments or the investments of your family or friends (without compensation) does not qualify.
You must complete the following steps in order to become a CFA® charter holder:
1. Become a CFA® candidate and enrol in the CFA® Program
2. Pass all 3 levels of the CFA® exam
3. Obtain 4 years of professional work experience in the investment decision-making process
4. Join the CFA Institute as a regular member, and agree to adhere their Code of Ethics and Standards of Professional Conduct
Successful candidates take an average of 4 years to earn their CFA® charter.