Incorporates the Preparatory Course for the CFA Level II Examination. Overview.
CFA Singapore, founded in September 1987, is the first CFA member society of ...
CFA-FICS RESEARCH PROGRAMME for LEVEL II 2013
Incorporates the Preparatory Course for the CFA Level II Examination Overview CFA Singapore, founded in September 1987, is the first CFA member society of CFA Institute outside North America. CFA Institute is a global, nonprofit member organization of financial analysts, portfolio managers, and other investment professionals. The Financial Industry Competency Standards (FICS) is a comprehensive quality assurance framework with a certification and accreditation system that aims at raising the quality of our financial workforce and training providers. It comprises a set of standards with associated curriculum guide that relates to the competencies required for practitioners in specific job roles. The Research job role refers to the conduct of fundamental analysis on companies globally, providing institutional and retail clients with industry-specific and in-depth research and analysis on diversified industries. By leveraging the breadth and depth of the financial institutions global resources, the research division provides anticipatory, innovative, and differentiated investment ideas that address the needs of investor. Course Objectives The CFA-FICS Research Programme II includes practical skills to analyse financial information and statements, and encompasses knowledge required of a research analyst. As an added feature, the curriculum is designed to meet and prepare candidates for the Chartered Financial Analyst (CFA) Level 2 examination. Upon completion of the programme, participants would have adequately covered 4 Competency Units (CU) in Research Job Role V and will expect to receive a Certificate of Completion for the following. CU1
CU2
CU5
CU6
Perform Research and Analysis
Formulate Investment Recommendations
Acquire and Apply Financial Services Industry and Product Knowledge
Comply with Financial Services Legislations, Regulations and Industry Codes of Practice
1.1 Gather, Review, and Analyse key information
2.1 Apply various valuation techniques in conducting asset or industry/company valuation
5.1 Demonstrate understanding of general principles of financial services industry and products.
6.1 Identify and comply with legislative, regulatory and industry requirements
1.2 Analyse financial statements
2.2 Prepare up-to-date investment reports
5.2 Keep abreast of changes and development in financial services industry and product knowledge
6.2 Keep abreast of changes of relevant laws and regulations and understand its implications
1.3 Develop financial models
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CFA-FICS Level II Course Structure and Outline Module 1 – Core Programme (70 contact hours) Ethics Quantitative Methods Economics Financial Reporting & Analysis Corporate Finance Equity Investments Alternative Asset Valuation Fixed Income Investments Derivatives Instruments Portfolio Management
Module 2 - Applied Financial Statement Analysis (28 contact hours) Building the basic model: Translating financial documents into working spreadsheet model Forecasting: Extrapolating income statement, balance sheet, cashflow into the future Valuation: Four major approaches to valuation, and practical considerations Risk assessment: Discussing various dimensions of risk Practical session: Using disclosed financial data to model, forecast and value a listed stock
Module 3 - Special Topics – (14 contact hours) Technical Analysis Forex, commodities and Collective Investment Schemes Financial Industry Overview Rules and Regulations for Financial Services Professionals Course Delivery Module 1 which spans over 21 sessions is delivered in a seminar format. Each session is 3.5 hours and seminar groups are kept at an optimal size to encourage active engagement and interaction between instructors and participants through short discussions and practice questions on key concepts. Module 2 will be conducted over 8 workshop sessions in smaller groups to hone the participants’ practical analysis financial information and statements. Module 3 will be covered over 4 seminar sessions and it aims to equip participants with further product knowledge on technical analysis, foreign exchange, commodities and collective investment schemes. Participants also get an insight to the overview of the financial system. Each session is approximately 3 to 3.5 hours. The number of sessions is subjected to changes. FICS Funding 1. With effect from 1 January 2011, MAS will provide 70% grant support, capped at S$4,200 per participant per programme under the FICS framework (subject to approval). Funding will only be reimbursed to participants who have successfully completed the programme. (Subject to the grant eligibility under the FSDF FICS Financial Training Scheme) Further information on funding eligibility can be found at www.fics.org.sg. 2. The applicant should be a Singaporean, Permanent Resident or working for a Financial Institution and may be required to provide university transcripts and a copy of NRIC for admission purposes. 3. The types of institutions eligible to sponsor their staff for FICS accredited programmes are only Singapore based financial institutions, industry/professional associations and corporate engaged in financial services. The staff that they sponsor can be a Singapore citizen, permanent resident or foreigner, but the person must be based in Singapore, and hold a work position here. 4. Participants are required to meet a minimum attendance of 75%. 5. Participants should be an investment or research analyst or preferably have 2 - 4 years of experience in the investment decision making process (as prescribed by CFA Institute).
