Knowledge (XXG)

Chartered Financial Analyst

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year, the CFA Institute offers a slight rebate and will not send the curriculum again (the curriculum changes only on an annual basis). If the student retests in a year other than the year of failure, he or she will receive the curriculum again, as it may have been changed. Study materials for the CFA exams are available from numerous commercial learning providers, although they are not officially endorsed. Various organizations (some officially accredited) also provide course-based preparation. As of 2019, the examination includes questions on
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affiliated Council of Chartered Financial Analysts to stop using CFA Institute trademarks. The Deputy Registrar of Trade Marks determined that the trademark registration issued to CFA Institute for the "CFA" brand must be republished because of an error by the Trade Marks Registry. CFA Institute has numerous trademark applications on file with the Trade Marks Registry, and CFA charterholders from CFA Institute are free to use the "CFA" and "Chartered Financial Analyst" marks throughout India.
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Union’s MiFID II directive for investment professionals who engage in any type of client advisory. Candidates must also pass the CAd test on Spanish and EU regulation, commit to the CFA Institute Code of Ethics and Standards of Professional Conduct, and be a local member of CFA Society Spain. CAd certification must be renewed every year by demonstrating 30 hours of continuous professional development (CPD) and reconfirming the observance of the code and standards.
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experience only, but then a series of three examinations was established along with a requirement to be a practitioner for several years before taking the exams. In 1990, in the hopes of boosting the credential's public profile, the CFA Institute (formerly the Association for Investment Management and Research) merged with the FAF and the Institute of Chartered Financial Analysts.
756:(ASIC) has ranked the RG 146 Gap Training Program for CFA charterholders and CFA Program candidates at Tier 1. The RG 146 Gap Training Program is intended for candidates who have passed the CFA Level I exam or charterholders who wish to fulfill the requirements necessary to provide both financial product advice to retail clients and personal advice. 1319: 949:(ISA) requires six exams and an internship to become a portfolio manager. Exams include securities law and ethics, accounting, statistics, and finance; economics; securities and financial instrument analysis; and portfolio management. CFA charterholders are automatically considered to have completed five out of six exams. 1438:
and thus "the relevant public in the UK would, prima facie, expect a person using the mark applied for to be representing themselves as a member of an organization of the kind subject to a Royal Charter". "CFA" is a registered trademark in the UK, but only for "Educational services" (class 41) rather
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In 1998, CFA Institute's predecessor organization, AIMR, sued and won a judgment in an American court against ICFAI/CCFA. The judgment prohibited ICFAI/CCFA and its members from using the CFA or Chartered Financial Analyst mark in the United States and Canada. In August 2006, an Indian court issued a
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for the CFA program is based on a Candidate Body of Knowledge established by the CFA Institute. The CFA curriculum is updated annually to reflect the latest best practices, with the extent of changes varying by year and level. The curriculum comprises, broadly, the topic areas below. There are three
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A candidate who successfully completes the program and meets other professional requirements is awarded the "CFA charter" and becomes a "CFA charter-holder". As of November 2022, at least 190,000 people are charter-holders globally, growing 6% annually since 2012 (including effects of the pandemic).
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recognizes completion of CFA Level III as equivalent to a bachelor’s degree in a relevant discipline in the admissions process. Similarly, successful completion of CFA Level I or II, combined with a bachelor’s degree in a non-relevant discipline, will be treated as a bachelor’s degree in a relevant
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For exams from 2008 onward, candidates are automatically provided the curriculum readings from the CFA Institute at the time of registration for the exam. The curriculum is not provided separately in the absence of exam registration. If the student fails an exam and is allowed to retest in the same
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The CFA exam was first administered in 1963 and began in the United States and Canada, but has become global with many people becoming charter-holders across Europe, Asia, and Australia. By 2003, fewer than half the candidates in the CFA program were based in the United States and Canada, with most
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The predecessor of the CFA Institute, the Financial Analysts Federation (FAF), was established in 1947 as a service organization for investment professionals. The FAF founded the Institute of Chartered Financial Analysts in 1962; the earliest CFA charter-holders were "grandfathered" in through work
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is the only organization in India that is affiliated with the CFA Institute. The CFA Institute's trademark rights to the "CFA" and "Chartered Financial Analyst" brands were affirmed in India by the Delhi High Court. Further, the Delhi High Court issued an interim injunction ordering ICFAI and its
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Candidates who have passed Level 1 of the CFA Program are able to apply for the Certified Advisor (CAd) designation, a certification awarded by the CFA Society of Spain. CAd certification is recognized by Spain’s national securities regulator, the CNMV, as meeting the requirements of the European
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The CFA exams are notoriously difficult, with low pass rates. During the period 2010–2021, pass rates for Levels 1-3 ranged from 22-56%. The CFA Level 1 examination in May 2021 and July 2021 made news headlines after plummeting to a record-low pass rate of 25% and 22%, respectively, and in August
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A charter holder is held to the highest ethical standards. Once an investment professional obtains the charter, this individual also makes an annual commitment to uphold and abide by a strict professional code of conduct and ethical standards. Violations of the CFA code of ethics may result in
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recognizes that students who have passed the CFA Level I exam are exempt from the GMAT, GRE, and BAT score requirements, as well as the requirement of completing a specialized undergraduate degree in finance. Applicants who have passed the CFA Level 1 exam are eligible for 40 CP credits (four
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issued against ICFAI that CFA Institute obtained in October 1998. ICFAI had moved to reopen the case and to vacate the default judgment arguing that the court lacked jurisdiction over ICFAI at the time the default judgment was issued. With the default judgement vacated, ICFAI informed
1281:(SOA) granted the credit of "Validation by Educational Experience (VEE)-Economics" to the candidates who passed the CFA Level I exam. SOA also granted both the credits of VEE-Corporate Finance and VEE-Applied Statistical Methods to the candidates who passed the CFA Level II exam. 447:
are covered, including international economics (mainly related to currency conversions and how they are affected by international interest rates and inflation). By Level III, the focus is on applying economic analysis to portfolio management and asset allocation.
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Certain Finance programs are recognized by the CFA Institute as a part of their University Recognition Program. This status is granted to institutions whose degree programs incorporate at least 70 percent of the CFA Program Candidate Body of Knowledge
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Due to the timing of the exams, completing all three levels of the CFA is possible within two years, but candidates must still complete the work experience requirement of 4,000 hours over a minimum of three years to become a charter-holder.
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charter holders that they could legally use their charter in the United States and Canada. However, on September 4, 2007, the court reversed its decision to vacate after a motion to reconsider that decision was filed by CFA Institute.
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The ethics section is primarily concerned with compliance and reporting rules when managing an investor's money or when issuing research reports. Some rules pertain more generally to professional behavior (such as prohibitions against
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The Comissão do Mercado de Valores Mobiliários (CMVM) (Portuguese Securities Market Commission) officially recognizes a CFA Charter-holder as fully satisfying the qualifications to register as an investment adviser or financial
1305:(CFP Board) has approved the CFA charter as fulfilling most of the education coursework requirement for CFP certification, pending completion of a capstone course registered with CFP Board prior to sitting for the CFP exam. 368:
study program emphasizes portfolio management and includes descriptions of strategies for applying the tools, inputs, and asset valuation models to manage equity, fixed income, and derivative investments for individuals and
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CFA charter-holders are recognized by Brazilian main regulator of securities analysts, APIMEC, as the equivalent to their "global content" test, although the candidates must still pass a "local content" test to award their
652:, natural resources (particularly precious metals), infrastructure, and other alternative investments, including, as applicable, strategies, sub-categories, potential benefits and risks, fee structures, and due diligence. 1197:(NYSE) exempts candidates who have passed CFA level I from the portion of the Series 16 exam that deals with rules on research standards and related matters from Part II of the NYSE Supervisory Analyst Qualification Exam. 1057:
licensing process for Financial Service Providers (FSP) exempts CFA Charter-holders from category I, II, IIA, III, and IV of the FSP's entry level qualification for the Key Individuals and Representatives licensing
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recognizes CFA Charter-holders seeking to apply for a license as a Capital Markets Services (CMS) Representative to be exempt from modules 6 and 7 of the Capital Markets and Financial Advisory Services (CMFAS)
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The Comision Nacional del Sistema de Ahorro para el Retiro (CONSAR) grants the general finance certification permanent license to people who have completed the CFA Institute Investment Foundations Program.
548:, employing the "tools" studied under quantitative methods, financial statement analysis, corporate finance, and economics. Level III centers on incorporating these instruments into portfolios. 1147:(UK NARIC) bench-marked the CFA Program and the CFA charter as comparable to a Qualifications and Credit Framework (QCF) Master's Level 7. The levels of the CFA Program were bench-marked as: 361:
study program emphasizes asset valuation and includes applications of the tools and inputs (including economics, financial reporting and analysis, and quantitative methods) in asset valuation.
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Have 4,000 hours in a minimum of three years of qualified work experience acceptable by the CFA Institute. However, individual-level exams may be taken prior to satisfying this requirement.
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The Securities Commission Malaysia (SC) requires Capital Markets Services Representatives License (CMSRL) applicants to pass various exams. CFA charterholders are waived from four exams.
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as qualifying for the position of portfolio manager, investment counsel, adviser in derivatives & commodity futures, exchange contracts and for the position of securities adviser.
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considers CFA charter holders to be eligible for waivers for up to two out of 10 courses in the Master of Science in Financial Management (MSFM) on-campus and online degree programs.
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The Securities and Exchange Commission of Sri Lanka authorizes that CFA charterholders automatically meet the requirement to practice as investment managers, managing client funds.
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The State Securities Commission (SSC) considers candidates who have passed CFA Level II to be sufficient in exempting them from three required securities practicing certificates:
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considers students enrolled in its graduate business programs who have passed the CFA Level III exam to be eligible for an unconditional administrative exemption from Finance 645.
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The Securities Investment Trust & Consulting Association (SITCA) of Taiwan officially recognizes CFA charterholders as qualified to practice as securities investment analysts.
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than those who do not complete the program. However, there is some evidence that differential analyst performance is economically inconsequential, suggesting the predominance of
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The CFA designation is designed to demonstrate a strong foundation in advanced investment analysis and portfolio management, accompanied by a strict emphasis on ethical practice.
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The Academic and Accreditation Advisory Committee of the SFC has approved the CFA designation as a recognized industry qualification for the licensing of Responsible Officers in
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The curriculum includes coverage of the fundamental framework of derivatives markets, derivatives valuations, and hedging and trading strategies involving derivatives, including
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recognizes successful CFA Level III candidates as satisfying the requirements of taking the global content exams of the National Certificate of Professional Investment (CNPI).
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recognizes CFA Charter-holders as having automatically satisfied Standard Sets A, C, and D under the Code of Professional Conduct for Authorized Financial Advisers (AFA).
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Have obtained a bachelor's (or equivalent) degree or be in the final year of a bachelor's degree program. However, an accredited degree may not always be a requirement.
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The Capital Market Commission (CMC) waives licensing requirements for the position of investment analyst and portfolio manager for those who have passed CFA Level III.
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recognizes CFA Charter-holders as meeting the requirements for the regulated functions of Head of Treasury, Financial Instruments Trader, and Investment Consultant.
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exams ("levels") that test the academic portion of the CFA program. All three levels emphasize the subject of ethics. The material differences among the exams are:
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study program emphasizes tools and inputs and includes an introduction to asset valuation, financial reporting and analysis, and portfolio-management techniques.
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of the other candidates based in Asia or Europe. The number of charter-holders in India and China had increased by 25% and 53%, respectively, from 2005 to 2006.
2866: 2181: 1201: 1062: 1211:, considers Master of Business Administration (MBA) candidates who have passed the CFA Level III exam to be granted an automatic waiver in two core courses. 980:
The Dutch Securities Institute (DSI) recognizes the completion of the CFA Level 1 exam as being sufficient for the qualification to be a financial analyst.
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The Capital Markets Board (CMB) of Turkey considers the passing of CFA Level I, II, and III to be equivalent to the CMA Level 1, 2, and 3 licensing exams.
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The Investment Adviser Registration Depository (IARD) exempts CFA Charterholders from the required competency exams to register as an investment adviser.
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The Securities and Exchange Commission of the Philippines requires at least one fund manager to have passed CFA Level 1 in order to manage mutual funds.
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The Dutch Securities Institute (DSI) recognizes CFA charterholders as automatically meeting the qualifications requirement to be a senior fund manager.
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The Superintendencia del Mercado de Valores (SMV) recognizes applicants who have passed CFA Level I to be approved for the role of portfolio manager.
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This section increases in importance with each of the three levels—it integrates and draws from the other topics, including ethics. It includes: (i)
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De Franco, Gus; Zhou, Yibin (2009). "The Performance of Analysts with a CFA ® Designation: The Role of Human-Capital and Signaling Theories".
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considers CFA charterholders in the Executive Master of Nonprofit Administration (EMNA) to be eligible for a waiver of required course work.
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The Institute of Banking exempts CFA Charter-holders from 2 out of 6 modules required for the Professional Diploma in Financial Advice.
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Given the time and effort that candidates must undergo to complete the CFA program, it would be expected that CFA charter-holders have
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considers the successful completion of the CFA Level III exam as satisfactory for the requirements necessary to be an exchange trader.
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The Securities and Exchange Commission (SEC) of Thailand Passing CFA Level III qualifies the candidate to be a fund manager.
1204:(NFLPA) recognizes the CFA Charter as meeting the eligibility requirements to become a registered player financial advisor. 1427: 2223: 2026: 1396:
The judgments made no assessment of the quality of the Indian program and merely discussed the trademark violation. The
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discipline in the admissions process. Students who have passed CFA Levels I, II, or III are eligible for course waivers.
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than "Financial services" (class 36) under which the attempt to register "Chartered Financial Analyst" had been made.
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CFA Charter-holders automatically satisfy the requirements for the mandatory Financial Advice Program (AFP) level II.
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has bench-marked the CFA charter as comparable to its National Certificate in Financial Markets and Instruments.
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Pass all three levels of the CFA program (mastery of the current CFA curriculum and passing three examinations).
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Individuals who have passed all three levels of the CFA exams are eligible to skip the elective courses of the
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considers the passing of CFA Level I to be recognized as an industry qualification for various licensing exams.
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industry-related sanctions, suspension of the right to use the CFA designation, or a revocation of membership.
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considers candidates which have passed CFA Level 1 to be exempt from exam requirements for relevant positions.
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The curriculum includes coverage of a range of topics in the alternative investment category. Topics include
3006: 2562: 1194: 1028:(CMA) recognizes CFA charter-holders as sophisticated investors and they are exempted from CMA exam level I. 888: 788: 760: 661: 625: 420: 383: 2587: 717: 685: 537: 94: 86: 39: 1673: 673: 649: 569: 90: 50: 2545: 544:, and commodities). The Level I exam requires familiarity with these instruments. Level II focuses on 2195: 1278: 766: 613: 533: 509: 457: 113: 70: 461: 2539:"FAIS Board Notice 106, Determination of Fit and Proper Requirements, and Category FSP Definitions" 2182:"FASEA approves education credits for CIMA and CFA coursework to attain a Professional Designation" 773: 629: 545: 525: 416: 1791: 2118: 2075: 1430:
refused to register "Chartered Financial Analyst" as a trademark, as the word "chartered" in the
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Kang, Qiang; Li, Xi; Su, Tie (2018-04-01). "Sell-Side Financial Analysts and the CFA® Program".
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information is heavily tested at Levels I and II, but is not a significant part of Level III.
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CFA charterholders are not required to sit the Securities Investment Trust Licensing Exam.
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requires that any collective investment scheme must have at least one CFA Charter-holder.
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Please help update this article to reflect recent events or newly available information.
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Exemptions are available to Charter-holders for two of the six qualifying exams of the
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Frankfurt School of Finance & Management Frankfurt School of Finance and Management
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Level III of the CFA Program and the CFA charter are bench-marked at Level 7 by NARIC
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To become a CFA charter-holder, candidates must satisfy the following requirements:
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Adhere to the CFA Institute Code of Ethics and Standards of Professional Conduct.
17: 477: 423:, and technical analysis. Recent additions, as mentioned above, are a survey of 2892:"MD, CFA Institute Discusses the Latest Developments on the CFA Exams in India" 2255: 2063: 101:
Successful candidates take an average of four years to earn their CFA charter.
1815:"CFA Pass Rate Plummets to Record Low of 25% for Level 1 Exam - BNN Bloomberg" 1414: 641: 541: 408: 396: 342: 58: 2114: 2071: 1626: 902: 386:, automated investment services, and mining unconventional sources of data. 74: 2412: 1618: 524:
The curriculum includes coverage of global markets as well as analysis and
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US Department of Labor - U.S. Bureau of Labor Statistics Occupations Guide
1719:"Plan Your 2021 CFA Registration With Our Free Journey Planner - 300Hours" 821:
The CFA Institute is a recognized Educational Institution by Revenu Quebec
2106: 1641: 1602: 681: 428: 2079: 2699: 1767: 1742: 1172:(FINRA) exempts candidates who have passed CFA Level I and II from the 777:
courses) in the foundation component of the Master of Finance program.
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officially recognizes the CFA Charter as a professional qualification.
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The curriculum for equity investments includes the functioning of the
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FINRA Education Reference Guide Showing CFA Charter and Requirements
1695:"CFA Work Experience Requirements: A Crystal Clear Guide - 300Hours" 1577: 1990:
Kathleen DeRose and Christophe Le Lanno (2020). "Machine Learning"
1390: 908: 372: 2917:"Trade Mark Application No. 2226144: Chartered Financial Analyst" 2613:"SOUTH AFRICAN QUALIFICATIONS AUTHORITY REGISTERED QUALIFICATION" 2566: 1642:"What Exactly Are The CFA Charterholder Requirements? - 300Hours" 730:) suggests a positive human capital impact from the CFA program. 419:—incorporating basic valuation and yield and return calculations— 2591: 1293:(PRMIA) from the first required exam for the PRM qualification. 1941:"CFA exam to add artificial intelligence, 'big data' questions" 1153:
Level II of the CFA Program is bench-marked at Level 6 by NARIC
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allows elective waivers for passing any level of the CFA exams.
2817:"AIMR Obtains Favorable Ruling in Trademark Infringement Suit" 1312: 1156:
Level I of the CFA Program is bench-marked at Level 5 by NARIC
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Professional Risk Managers' International Association (PRMIA)
2138:"CFA Exam Exemptions: A Big Perk You Should Know - 300Hours" 2027:"Is the CFA Useful for Corporate Finance? - Kaplan Schweser" 129:
Sectors with the highest proportion of CFA Charter-holders
1896:"2022 CFA Curriculum Changes: Our Super Summary - 300Hours" 1243:
Basic issues regarding securities and the securities market
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Certified Financial Planner Board of Standards (CFP Board)
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The top employers of CFA charter-holders globally include
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U.S. District Court for the Eastern District of Virginia
2525:"What are the certificates accepted by the Saudi CMA" 1792:"CFA exams: high fail rate sets flunkees speculating" 1291:
Professional Risk Managers' International Association
1186:(NASAA) exempts CFA charterholders from the required 1184:
North American Securities Administrators Association
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Exemptions are available for various modules in the
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Professional credential offered by the CFA Institute
2454: 2356:Securities and Futures Commission (January 2022). 2167:Australian Securities & Investments Commission 1381:(ICFAI) University of India or its affiliate, the 1379:Institute of Chartered Financial Analysts of India 1176:examination from registering as research analysts. 824:CFA Charter-holders are legally recognized by the 754:Australian Securities & Investments Commission 1859:CFA Level II Exam Pass Rate Is Lowest Ever at 29% 896:Hong Kong Securities and Futures Commission (SFC) 1465:Professional certification in financial services 1284: 1145:National Academic Recognition Information Centre 923:Financial Services Authority of Indonesia (FSA) 844:Egyptian Financial Supervisory Authority (EFSA) 1524:"1963 - Current Candidate Examination Results" 1398:Indian Association of Investment Professionals 1303:Certified Financial Planner Board of Standards 2003:"CFA Level 1 FRA: Our Cheat Sheet - 300Hours" 1743:"CFA Pass Rates: How Hard Are The CFA Exams?" 1070:South African Qualifications Authority (SAQA) 536:(futures, forwards, options, and swaps), and 8: 1485:"Why Top Tier Firms Hire CFA Charterholders" 1202:National Football League Players Association 1063:South African Institute of Financial Markets 2948:"Case details for trade mark UK00002225116" 2588:"Registered Persons Examination Exemptions" 1249:Analysis of enterprise financial statements 1434:is associated with bodies incorporated by 488:The curriculum initially covers the major 127: 1373:CFA Institute is not affiliated with the 1356:Learn how and when to remove this message 1256:Recognition by professional organizations 297:2021, the level 2 pass rate fell to 29%. 1289:CFA charter-holders are exempted by the 826:Canadian Securities Administrators (CSA) 656:Portfolio management and wealth planning 466:Generally Accepted Accounting Principles 411:: the topics are fairly broad, covering 93:—and provides a generalist knowledge of 45:offered internationally by the US-based 2682:"SEC Thailand fund manager requirement" 2507:"CMVM - Regulamento da CMVM n.Âş 3/2010" 2277:"CSA recognition of CFA Charterholders" 1475: 1383:Council of Chartered Financial Analysts 1170:Financial Industry Regulatory Authority 1077:South African Institute of Stockbrokers 734:Global regulatory and legal recognition 632:is conceptual as opposed to technical. 277:Have two or three letters of reference. 2867:"India FAQS: The CFA Program in India" 2764:"Validation by Educational Experience" 2668:"Securities & Exchange Commission" 2471: 2460: 1840: 1830: 612:. The curriculum incorporates various 476:. Financial reporting and analysis of 3002:Professional certification in finance 2340:"SFC Licensing exams CFA recognition" 2224:"CFA Charterholder exemptions by CBB" 1966:"2017 Level I CFA Program Curriculum" 1040:Monetary Authority of Singapore (MAS) 805:ComissĂŁo de Valores Mobiliários (CVM) 702:measurement of investment performance 377:2012 Level III CFA Program Curriculum 280:Become a member of the CFA Institute. 7: 526:valuation of the various asset types 1536:from the original on July 29, 2014. 1190:to register as investment advisers. 2869:. Cfainstitute.org. Archived from 2819:. Cfainstitute.org. Archived from 2323:"CFA Charter official recognition" 1873:. Cfainstitute.org. Archived from 1601:Tatham, Charles Jr. (1945-01-01). 1328:tone or style may not reflect the 1246:Securities analysis and investment 1209:University of California, Berkeley 390:Ethical and professional standards 25: 2950:. UK Intellectual Property Office 2644:"Certified Advisor - CAd Program" 1389:temporary injunction against the 720:; although other research in the 2972:CFA Institute membership profile 2894:. Daulatguru.com. Archived from 2782:"PRM Frequently Asked Questions" 2379:"List of Approved CPT Providers" 2291:"University Affiliation Program" 1802:from the original on 2021-08-02. 1603:"A Brief History of The Society" 1338:guide to writing better articles 1317: 407:This topic area is dominated by 309: 2922:. Patent.gov.uk. Archived from 2242:ComissĂŁo de Valores Mobiliários 1483:Macon, Sophie (12 March 2022). 500:policy and implementation, and 1813:News, Bloomberg (2021-07-27). 1273:The Society of Actuaries (SOA) 700:using derivatives); and (iii) 572:similarly include the various 540:(real estate, private equity, 421:portfolio-related calculations 1: 2590:. Saifm.co.za. Archived from 2565:. Saifm.co.za. Archived from 1988:Discussion is top down; see: 789:Central Bank of Bahrain (CBB) 614:pricing models and frameworks 1503:"Become a CFA Charterholder" 739:Legal recognition by country 474:financial statement analysis 452:Financial statement analysis 51:advanced investment analysis 1443:List of CFA charter-holders 1375:Chartered Financial Analyst 947:Israel Securities Authority 708:Efficacy of the CFA program 670:capital asset pricing model 32:Chartered Financial Analyst 3028: 2358:"Guidelines on Competence" 2095:Financial Analysts Journal 2064:10.2308/accr.2009.84.2.383 1607:Financial Analysts Journal 1460:Professional certification 1449:List of CFA charterholders 1446: 723:Financial Analysts Journal 624:(extending to coverage of 578:risk associated with these 43:professional certification 2210:"Griffith University CFA" 1666:"Membership Requirements" 628:), while coverage of the 568:, and industry analysis. 318:This section needs to be 2796:"Education Requirements" 2365:Guidelines on Competence 1216:University of Notre Dame 1026:Capital Market Authority 726:(a journal published by 506:mergers and acquisitions 456:The curriculum includes 3012:Institutional investors 2627:"SAIS Education Policy" 2309:"CFA Level 1 exemption" 2136:Tan, Zee (2022-01-14). 1428:UK Trade Marks Registry 1332:used on Knowledge (XXG) 1195:New York Stock Exchange 889:Government of Hong Kong 761:Government of Australia 686:institutional investors 662:modern portfolio theory 636:Alternative investments 622:binomial option pricing 552:Equity and fixed income 538:alternative investments 384:artificial intelligence 87:alternative investments 1619:10.2469/faj.v1.n1.3934 1377:degree offered by the 1336:See Knowledge (XXG)'s 630:underlying mathematics 378: 166:Chief level executive 95:other areas of finance 2490:"SMV CFA recognition" 2413:"ISA CFA recognition" 2052:The Accounting Review 1548:"Research & Data" 1426:In January 2007, the 909:CFA Society Hong Kong 376: 142:Portfolio Management 2427:"SC CFA Recognition" 2107:10.2469/faj.v74.n2.2 1552:www.cfainstitute.org 1404:On May 8, 2007, the 1279:Society of Actuaries 1269:Program of Studies. 767:Macquarie University 510:corporate governance 403:Quantitative methods 174:Investment strategy 114:Royal Bank of Canada 91:portfolio management 2738:"Course Exemptions" 2396:"IOB CFA exemption" 774:Griffith University 674:investment practice 626:interest rate trees 570:Fixed income topics 528:: equity (stocks), 512:, and business and 458:financial reporting 417:time value of money 222:Financial planning 214:Accounting / audit 130: 2873:on October 7, 2007 2648:www.cfasociety.org 1922:. Cfainstitute.org 1877:on October 5, 2007 1843:has generic name ( 1505:. Cfainstitute.org 1309:Trademark disputes 714:higher performance 666:efficient frontier 494:capital investment 413:probability theory 379: 190:Wealth management 128: 79:financial analysis 63:probability theory 2823:on April 26, 2007 2184:. August 9, 2019. 1871:"Topical Outline" 1798:. 2 August 2021. 1529:. CFA Institute. 1393:entity, as well. 1366: 1365: 1358: 1330:encyclopedic tone 1222:Boston University 858:Deutsche Börse AG 678:investment policy 520:Security analysis 498:capital structure 490:corporate finance 484:Corporate finance 339: 338: 237: 236: 83:corporate finance 55:business analysis 18:CFA Charterholder 16:(Redirected from 3019: 2987: 2960: 2959: 2957: 2955: 2944: 2938: 2937: 2935: 2934: 2928: 2921: 2913: 2907: 2906: 2904: 2903: 2888: 2882: 2881: 2879: 2878: 2863: 2857: 2856: 2854: 2852: 2846:cfainstitute.org 2838: 2832: 2831: 2829: 2828: 2813: 2807: 2806: 2804: 2803: 2792: 2786: 2785: 2778: 2772: 2771: 2760: 2754: 2753: 2751: 2749: 2734: 2728: 2727: 2720: 2714: 2713: 2711: 2710: 2695: 2689: 2688: 2686: 2678: 2672: 2671: 2664: 2658: 2657: 2655: 2654: 2640: 2634: 2633: 2631: 2623: 2617: 2616: 2609: 2603: 2602: 2600: 2599: 2584: 2578: 2577: 2575: 2574: 2559: 2553: 2552: 2550: 2544:. 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Archived from 1670:Cfainstitute.org 1662: 1656: 1655: 1653: 1652: 1637: 1631: 1630: 1598: 1592: 1591: 1589: 1588: 1573: 1567: 1566: 1564: 1563: 1554:. Archived from 1544: 1538: 1537: 1535: 1528: 1520: 1514: 1513: 1511: 1510: 1499: 1493: 1492: 1480: 1410:default judgment 1361: 1354: 1350: 1347: 1341: 1340:for suggestions. 1321: 1320: 1313: 882:Hong Kong, China 690:asset allocation 425:machine learning 334: 331: 325: 313: 312: 305: 198:Credit analysis 182:Risk management 131: 21: 3027: 3026: 3022: 3021: 3020: 3018: 3017: 3016: 2992: 2991: 2981: 2968: 2963: 2953: 2951: 2946: 2945: 2941: 2932: 2930: 2926: 2919: 2915: 2914: 2910: 2901: 2899: 2890: 2889: 2885: 2876: 2874: 2865: 2864: 2860: 2850: 2848: 2840: 2839: 2835: 2826: 2824: 2815: 2814: 2810: 2801: 2799: 2794: 2793: 2789: 2780: 2779: 2775: 2762: 2761: 2757: 2747: 2745: 2744:. 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CFA Institute 1968: 1964: 1963: 1959: 1950: 1948: 1939: 1938: 1934: 1925: 1923: 1918: 1917: 1913: 1904: 1902: 1894: 1893: 1889: 1880: 1878: 1869: 1868: 1864: 1856: 1852: 1839: 1829: 1823: 1821: 1812: 1811: 1807: 1796:Financial Times 1790: 1789: 1785: 1776: 1774: 1766: 1765: 1761: 1751: 1749: 1741: 1740: 1736: 1727: 1725: 1717: 1716: 1712: 1703: 1701: 1693: 1692: 1688: 1679: 1677: 1664: 1663: 1659: 1650: 1648: 1639: 1638: 1634: 1600: 1599: 1595: 1586: 1584: 1576:Macon, Sophie. 1575: 1574: 1570: 1561: 1559: 1546: 1545: 1541: 1533: 1526: 1522: 1521: 1517: 1508: 1506: 1501: 1500: 1496: 1482: 1481: 1477: 1473: 1456: 1451: 1445: 1424: 1371: 1362: 1351: 1345: 1342: 1335: 1326:This section's 1322: 1318: 1311: 1299: 1287: 1275: 1263: 1258: 1237: 1228:Duke University 1188:Series 65 exams 1165: 1143:In 2009 the UK 1140: 1130: 1120: 1107: 1097: 1086: 1050: 1035: 1021: 1010: 1000: 990: 977: 966: 956: 942: 932: 918: 884: 874: 853: 839: 818: 801: 784: 749: 741: 736: 710: 694:order execution 658: 638: 594: 574:debt securities 566:stock valuation 554: 522: 502:dividend policy 486: 454: 437: 405: 392: 335: 329: 326: 323: 314: 310: 303: 294: 262: 250: 126: 118:Bank of America 38:) program is a 28: 23: 22: 15: 12: 11: 5: 3025: 3023: 3015: 3014: 3009: 3007:Money managers 3004: 2994: 2993: 2990: 2989: 2979: 2974: 2967: 2966:External links 2964: 2962: 2961: 2939: 2908: 2883: 2858: 2833: 2808: 2787: 2773: 2755: 2729: 2715: 2690: 2673: 2659: 2635: 2618: 2604: 2579: 2554: 2551:on 2013-06-26. 2530: 2516: 2498: 2481: 2457:on 2013-08-21. 2442: 2439:on 2014-02-09. 2418: 2404: 2387: 2370: 2348: 2331: 2314: 2300: 2282: 2268: 2247: 2229: 2215: 2201: 2187: 2173: 2153: 2128: 2085: 2058:(2): 383–404. 2042: 2018: 1994: 1981: 1957: 1932: 1911: 1887: 1862: 1850: 1805: 1783: 1759: 1734: 1710: 1686: 1657: 1632: 1593: 1568: 1539: 1515: 1494: 1474: 1472: 1469: 1468: 1467: 1462: 1455: 1452: 1447:Main article: 1444: 1441: 1432:United Kingdom 1423: 1422:United Kingdom 1420: 1370: 1367: 1364: 1363: 1325: 1323: 1316: 1310: 1307: 1298: 1295: 1286: 1283: 1274: 1271: 1262: 1259: 1257: 1254: 1253: 1252: 1251: 1250: 1247: 1244: 1236: 1233: 1232: 1231: 1225: 1219: 1212: 1205: 1198: 1191: 1180: 1177: 1164: 1161: 1160: 1159: 1158: 1157: 1154: 1151: 1139: 1138:United Kingdom 1136: 1135: 1134: 1129: 1126: 1125: 1124: 1119: 1116: 1115: 1114: 1111: 1106: 1103: 1102: 1101: 1096: 1093: 1092: 1091: 1085: 1082: 1081: 1080: 1073: 1066: 1059: 1049: 1046: 1045: 1044: 1034: 1031: 1030: 1029: 1020: 1017: 1016: 1015: 1009: 1006: 1005: 1004: 999: 996: 995: 994: 989: 986: 985: 984: 981: 976: 973: 972: 971: 965: 962: 961: 960: 955: 952: 951: 950: 941: 938: 937: 936: 931: 928: 927: 926: 917: 914: 913: 912: 906: 899: 892: 883: 880: 879: 878: 873: 870: 869: 868: 861: 852: 849: 848: 847: 838: 835: 834: 833: 829: 822: 817: 814: 813: 812: 808: 800: 797: 796: 795: 792: 783: 780: 779: 778: 771: 764: 757: 748: 745: 740: 737: 735: 732: 709: 706: 676:(defining the 672:, etc.); (ii) 657: 654: 646:private equity 637: 634: 593: 590: 553: 550: 521: 518: 514:financial risk 485: 482: 462:International′ 453: 450: 445:macroeconomics 441:microeconomics 436: 433: 404: 401: 391: 388: 371: 370: 362: 355: 337: 336: 317: 315: 308: 302: 299: 293: 290: 285: 284: 281: 278: 275: 272: 269: 261: 258: 249: 246: 235: 234: 231: 227: 226: 223: 219: 218: 215: 211: 210: 207: 203: 202: 199: 195: 194: 191: 187: 186: 183: 179: 178: 175: 171: 170: 167: 163: 162: 159: 155: 154: 151: 147: 146: 143: 139: 138: 135: 125: 122: 106:JPMorgan Chase 26: 24: 14: 13: 10: 9: 6: 4: 3: 2: 3024: 3013: 3010: 3008: 3005: 3003: 3000: 2999: 2997: 2986: 2985: 2980: 2978: 2975: 2973: 2970: 2969: 2965: 2949: 2943: 2940: 2929:on 2012-02-05 2925: 2918: 2912: 2909: 2898:on 2010-04-08 2897: 2893: 2887: 2884: 2872: 2868: 2862: 2859: 2847: 2843: 2837: 2834: 2822: 2818: 2812: 2809: 2797: 2791: 2788: 2783: 2777: 2774: 2769: 2765: 2759: 2756: 2743: 2742:CBV Institute 2739: 2733: 2730: 2725: 2719: 2716: 2705: 2701: 2694: 2691: 2683: 2677: 2674: 2669: 2663: 2660: 2649: 2645: 2639: 2636: 2628: 2622: 2619: 2614: 2608: 2605: 2594:on 2010-10-01 2593: 2589: 2583: 2580: 2569:on 2010-08-30 2568: 2564: 2558: 2555: 2547: 2540: 2534: 2531: 2526: 2520: 2517: 2512: 2508: 2502: 2499: 2491: 2485: 2482: 2477: 2464: 2456: 2452: 2446: 2443: 2435: 2428: 2422: 2419: 2414: 2408: 2405: 2397: 2391: 2388: 2380: 2374: 2371: 2366: 2359: 2352: 2349: 2341: 2335: 2332: 2324: 2318: 2315: 2310: 2304: 2301: 2296: 2295:CFA Institute 2292: 2286: 2283: 2278: 2272: 2269: 2257: 2251: 2248: 2243: 2239: 2233: 2230: 2225: 2219: 2216: 2211: 2205: 2202: 2197: 2191: 2188: 2183: 2177: 2174: 2169: 2168: 2163: 2157: 2154: 2143: 2139: 2132: 2129: 2124: 2120: 2116: 2112: 2108: 2104: 2100: 2096: 2089: 2086: 2081: 2077: 2073: 2069: 2065: 2061: 2057: 2053: 2046: 2043: 2032: 2028: 2022: 2019: 2008: 2004: 1998: 1995: 1991: 1985: 1982: 1967: 1961: 1958: 1946: 1942: 1936: 1933: 1921: 1915: 1912: 1901: 1897: 1891: 1888: 1876: 1872: 1866: 1863: 1860: 1854: 1851: 1846: 1834: 1820: 1816: 1809: 1806: 1801: 1797: 1793: 1787: 1784: 1773: 1769: 1763: 1760: 1748: 1744: 1738: 1735: 1724: 1720: 1714: 1711: 1700: 1696: 1690: 1687: 1676:on 2013-04-24 1675: 1671: 1667: 1661: 1658: 1647: 1643: 1636: 1633: 1628: 1624: 1620: 1616: 1612: 1608: 1604: 1597: 1594: 1583: 1579: 1572: 1569: 1558:on 2017-07-01 1557: 1553: 1549: 1543: 1540: 1532: 1525: 1519: 1516: 1504: 1498: 1495: 1490: 1486: 1479: 1476: 1470: 1466: 1463: 1461: 1458: 1457: 1453: 1450: 1442: 1440: 1437: 1436:royal charter 1433: 1429: 1421: 1419: 1416: 1411: 1407: 1402: 1399: 1394: 1392: 1386: 1384: 1380: 1376: 1368: 1360: 1357: 1349: 1346:November 2015 1339: 1333: 1331: 1324: 1315: 1314: 1308: 1306: 1304: 1296: 1294: 1292: 1282: 1280: 1272: 1270: 1268: 1267:CBV Institute 1261:CBV Institute 1260: 1255: 1248: 1245: 1242: 1241: 1239: 1238: 1234: 1229: 1226: 1223: 1220: 1217: 1213: 1210: 1206: 1203: 1199: 1196: 1192: 1189: 1185: 1181: 1178: 1175: 1171: 1167: 1166: 1163:United States 1162: 1155: 1152: 1149: 1148: 1146: 1142: 1141: 1137: 1132: 1131: 1127: 1122: 1121: 1117: 1112: 1109: 1108: 1104: 1099: 1098: 1094: 1088: 1087: 1083: 1078: 1074: 1071: 1067: 1064: 1060: 1056: 1052: 1051: 1047: 1041: 1037: 1036: 1032: 1027: 1023: 1022: 1018: 1012: 1011: 1007: 1002: 1001: 997: 992: 991: 987: 982: 979: 978: 974: 968: 967: 963: 958: 957: 953: 948: 944: 943: 939: 934: 933: 929: 924: 920: 919: 915: 910: 907: 904: 900: 897: 893: 890: 886: 885: 881: 876: 875: 871: 866: 862: 859: 855: 854: 850: 845: 841: 840: 836: 830: 827: 823: 820: 819: 815: 809: 806: 803: 802: 798: 793: 790: 786: 785: 781: 775: 772: 768: 765: 762: 758: 755: 751: 750: 746: 744: 738: 733: 731: 729: 728:CFA Institute 725: 724: 719: 715: 707: 705: 703: 699: 695: 691: 687: 683: 679: 675: 671: 667: 663: 655: 653: 651: 647: 643: 635: 633: 631: 627: 623: 619: 618:Black-Scholes 615: 611: 607: 603: 599: 591: 589: 587: 586:yield spreads 583: 579: 575: 571: 567: 563: 559: 551: 549: 547: 543: 539: 535: 531: 527: 519: 517: 515: 511: 507: 503: 499: 495: 491: 483: 481: 479: 475: 471: 467: 463: 459: 451: 449: 446: 442: 434: 432: 430: 426: 422: 418: 414: 410: 402: 400: 398: 389: 387: 385: 375: 369:institutions. 367: 363: 360: 356: 353: 349: 348: 347: 344: 333: 321: 316: 307: 306: 300: 298: 291: 289: 282: 279: 276: 273: 270: 267: 266: 265: 259: 257: 253: 247: 245: 241: 232: 229: 228: 224: 221: 220: 216: 213: 212: 208: 205: 204: 200: 197: 196: 192: 189: 188: 184: 181: 180: 176: 173: 172: 168: 165: 164: 160: 157: 156: 152: 149: 148: 144: 141: 140: 136: 133: 132: 123: 121: 119: 115: 111: 107: 102: 98: 96: 92: 88: 84: 80: 76: 72: 68: 64: 60: 56: 52: 48: 47:CFA Institute 44: 41: 37: 33: 19: 2983: 2952:. 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Index

CFA Charterholder
postgraduate
professional certification
CFA Institute
advanced investment analysis
business analysis
statistics
probability theory
fixed income
derivatives
economics
financial analysis
corporate finance
alternative investments
portfolio management
other areas of finance
JPMorgan Chase
UBS
Royal Bank of Canada
Bank of America
curriculum

artificial intelligence
plagiarism
statistics
probability theory
time value of money
portfolio-related calculations
machine learning
big data

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