Indiana University's (IU) Kelley School of Business has achieved CFA Program Partner status with CFA Institute, which offers the premier certification in the investment industry worldwide.
The partnership will benefit students seeking to become Chartered Financial Analysts, an international designation that the CFA Institute awards after a rigorous examination process.
Specifically, the IU Kelley School's MBA finance concentration and the BS degree in business with a major in finance are CFA Program Partners.
Scholarships will be available for qualifying students to take the $1,000 CFA exam at a reduced cost. The partnership also provides for majors in Kelley's finance programs – at both master's and undergraduate levels – to obtain sample exams and instructional and briefing materials and publications at no cost as well.
To become a CFA charter holder, candidates must pass three comprehensive exams in addition to obtaining four years of relevant work experience. CFA Institute has more than 114,500 members around the world.
"Our iconic and trend-setting Investment Management Academy and workshops are recognized by the financial industry as developing extremely high-quality professionals, and this partnership is a recognition of the strength of our students and faculty", said Sreenivas Kamma, chairperson and associate professor of finance at Kelley.
"It also emphasizes how strong our curriculum – in finance and other areas such as ethics and accounting – is viewed by the investment management community", Kamma added.
"Students in these programs are exposed to the Candidate Body of Knowledge, concepts and principles that have been identified by investment experts worldwide as essential to global practice", said Stephen Horan, head of university relations and private wealth management at CFA Institute. "By mastering these fundamentals of the CFA Program, students will be well on their way to earning the highly valued CFA charter."
The partnership will ensure that the courses that finance students take at Kelley remain consistent with industry standards. A special course for those wanting to take the Level I CFA exam will be developed.
Five other business schools in the Big Ten are CFA Program Partners, along with sixty schools in the Americas; forty-nine schools in Europe, the Middle East, and Africa; and thirty-eight schools in the Asia-Pacific rim.
Kelley students also will be given the opportunity to participate in the CFA Institute Research Challenge, a student competition in which society members mentor students. Students compete with their peers on the basis of an equity research report and presentation.
"The CFA certification has grown dramatically over the past ten years", noted Charles Trzcinka, the James and Virginia Cozad Professor of Finance and the Kelley School's CFA program director. "There are people who believe that getting a CFA designation is more important than an MBA."
CFA Institute offers lifelong learning opportunities for members, including online courses, webcasts and podcasts, publications, executive education programs, and a variety of educational events. Developing these resources will offer Kelley faculty many opportunities for collaboration. Kelley faculty also will attend an annual conference for CFA Program Partner institutions.
Source: March 6, 2013, Indiana University Press Release