Exam Code: CGAP Practice test 2023 by Killexams.com team
CGAP Certified Government Auditing Professional (IIA-CGAP)

Certified Government Auditing Professional® (CGAP®) test Syllabus
The CGAP test includes 115 multiple-choice questions, covers four domains, and requires a completion time of two hours and fifty-five minutes. The test includes questions on International Organization of Supreme Audit Institutions (INTOSAI) Government Auditing Standards. Candidates who registered to take the test in the United States will receive a local version of the test with questions on U.S. Generally Accepted Government Auditing Standards (GAGAS/Yellow Book).

P = Candidates must exhibit proficiency (thorough understanding; ability to apply concepts) in these Topic areas.
A = Candidates must exhibit awareness (knowledge of terminology and fundamentals) in these Topic areas.

Standards tested on the CGAP exam:
The IIA's International Professional Practices Framework (IPPF) (P) (Includes the Code of Ethics, International Standards for the Professional Practice of Internal Auditing (Standards), Practice Advisories, and Development and Practice Aids)
INTOSAI Standards and Code of Ethics (A)
Additional standards tested on the CGAP test for candidates taking the test in the United States:

Generally Accepted Government Auditing Standards (GAGAS/Yellow Book) (P)
Exam Non-disclosure
The CGAP test is a non-disclosed examination, which means that current test Dumps will not be published or divulged.
NOTE: test Topics and/or format are subject to change as approved by The IIA's Professional Certification Board (PCB).

CGAP test Domains
The CGAP test core content covers four domains:
Domain I: Standards, Governance, and Risk/Control Frameworks (10-20 percent)
Domain II: Government Auditing Practice (35-45 percent)
Domain III: Government Auditing Skills and Techniques (20-25 percent)
Domain IV: Government Auditing Environment (20-25 percent)

Certified Government Auditing Professional® (CGAP®) test Syllabus — Domain I
Standards, Governance, and Risk/Control Frameworks (10-20%)
(P) = Candidates must exhibit proficiency (thorough understanding; ability to apply concepts) in these Topic areas.
(A) = Candidates must exhibit awareness (knowledge of terminology and fundamentals) in these Topic areas.
A. Standards
Role of a comprehensive set of auditing/evaluation standards (A)
Application of appropriate standards in all assignments (P)
Role and impact of other auditing standards (standards of public accounting bodies, quality assurance bodies, etc.) and their relationship with the above standards (A)
B. Governance
Governance in the public sector (e.g., audit committee, code of conduct, open government, public scrutiny, equity, accountability) (P)
Role of audit within the governance structure (P)
C. Risk/Control Frameworks (e.g., COSO, CoCo)
Role of frameworks (A)
Elements of a risk/control framework (P)
Application of frameworks (P)
D. IIA Code of Ethics (P)

Certified Government Auditing Professional® (CGAP®) test Syllabus — Domain II
Government Auditing Practice (35-45%)
(P) = Candidates must exhibit proficiency (thorough understanding; ability to apply concepts) in these Topic areas.
(A) = Candidates must exhibit awareness (knowledge of terminology and fundamentals) in these Topic areas.
A. Management of the Audit Function
Need for a formal document of purpose, authority, and responsibility (P)
Policies and procedures (A)
Quality assurance (A)
Planning (A)
Staffing (A)
Marketing the audit function (A)
Mission/role/outcome of audit function within government (A)
B. Types of Audit Services
Audits of compliance (P)
Audits of performance/value-for-money/operations (e.g., economy, efficiency, effectiveness) (P)
Audits of financial statements (A)
Audits of financial systems (P)
Audits of information and related technology (P)
Consulting/assistance services (e.g., non-audit advisory services) (A)
Integrity services (e.g., Fraud, Waste, and Abuse) (P)
C. Processes for Delivery of Audit Services
Management of individual projects (P)
Planning (The role of laws, regulations, rules, and ordinances in your planning process should be considered in the planning process) (P)
Risk and control assessment practices (P)
Performing the engagement (P)
Communicating results (P)
Monitoring results (follow-up) (P)

Certified Government Auditing Professional® (CGAP®) test Syllabus — Domain III
Government Auditing Skills and Techniques (20-25%)
(P) = Candidates must exhibit proficiency (thorough understanding; ability to apply concepts) in these Topic areas.
(A) = Candidates must exhibit awareness (knowledge of terminology and fundamentals) in these Topic areas.
A. Management Concepts and Techniques (A)
B. Performance Measurement (P)
C. Program Evaluation (A)
D. Quantitative Methods (e.g., statistical methods and analytical review) (P)
E. Qualitative Methods (e.g., questionnaires, interviews, and flow charts) (P)
F. Methods for the Identification and Investigation of Integrity Violations (P)
G. Research/Data Collection Techniques (P)
H. Analytical Skills (e.g., distinguish between significant and insignificant information) (P)

Certified Government Auditing Professional® (CGAP®) test Syllabus — Domain IV
Government Auditing Environment (20-25%)
(P) = Candidates must exhibit proficiency (thorough understanding; ability to apply concepts) in these Topic areas.
(A) = Candidates must exhibit awareness (knowledge of terminology and fundamentals) in these Topic areas.
A. Performance Management (P)
B. Financial Management
Unique requirements in accounting for and reporting on government financial operations (P)
Principles of taxation and revenue generation (P)
Unique aspects of governmental budgeting (e.g., encumbrances, earmarking) (P)
Government accounting (e.g., fund accounting, resource accounting) (P)
Legal restrictions on sources and uses of funds (e.g., voted funds, conditional grants, revenues) (A)
Investment restrictions for public funds (A)
Activity-based costing/cost-allocation (A)
C. Implications of Various Service Delivery Methods
Direct delivery by government employees (P)
Grants (P)
Contracts (P)
Joint Ventures/Partnerships/Authorities/Special Operating Agencies/Quasi-governmental (A)
Privatization (A)
D. Implications of Delivering Services to Citizens
Due process rights of clients/citizens (P)
Confidentiality/privacy/rights of clients/citizens (P)
Issues arising from the methods of funding/delivering services (condition that client receiving service may not be party paying for the services; ability-to-pay principle; user pay; eligibility requirements; limitations on services available; entitlements; etc.) (A)
Reality of conflicting missions (e.g., satisfy both developers and environmentalists, keep families together and kids safe) (A) Issues associated with at-risk populations (e.g., multiple, interacting causes and conditions; difficulty of measuring prevention) (A)
E. Unique Characteristics of Human Resources Management (A)
F. Unique Purchasing and Procurement Requirements (P)​

Certified Government Auditing Professional (IIA-CGAP)
Financial Professional test contents
Killexams : Financial Professional test contents - BingNews https://killexams.com/pass4sure/exam-detail/CGAP Search results Killexams : Financial Professional test contents - BingNews https://killexams.com/pass4sure/exam-detail/CGAP https://killexams.com/exam_list/Financial Killexams : The CPA Exam: What You Need to Know

So you’ve decided you want to become a certified public accountant (CPA). If you've taken all the undergraduate and graduate-level classes in accounting, business law, and general studies that your state requires, and have logged some work experienced (as required in all but a few states), you’re ready to take the Uniform CPA Examination. This is a substantial undertaking. Let’s review what’s involved.

Key Takeaways

  • The CPA test consists of four sections: Financial Accounting and Reporting (FAR), Auditing and Attestation (AUD), Regulation (REG), and Business Environment and Concepts (BEC).
  • Candidates have up to four hours to complete each test section; test sections can be taken individually and candidates must pass all four sections within 18 months.
  • The computer-based CPA test has three written communication tasks, 276 multiple-choice questions, and 28 task-based simulations.
  • Each section of the test is graded on a scale of zero to 99; the minimum passing score is 75.

CPA test Structure

The CPA test has 276 multiple-choice questions, 28 task-based simulations, and three writing portions. These are divided into four main sections: 

  • Auditing and Attestation (AUD)
  • Financial Accounting and Reporting (FAR)
  • Regulation (REG)
  • Business Environment and Concepts (BEC)

Candidates have four hours to complete each section, with a total test time of 16 hours. Each section is taken individually, and candidates can choose the order in which they take them. Candidates must pass all four sections of the test within 18 months. The beginning of the 18-month time frame varies by jurisdiction.

Test Scoring

The American Institute of Certified Public Accountants (AICPA) develops and scores the test, grading each part on a scale of zero to 99. You must score at least 75 to pass each section. For the AUD, FAR, and REG sections, your total score is a weighted combination of scaled scores from multiple-choice questions and task-based simulations. Multiple-choice questions count for 50% of the total score and tasked-based simulations count for the other 50%.

Your total score for the BEC section is a weighted combination of scaled scores from multiple-choice questions, task-based simulations, and written communication tasks. Multiple-choice questions count for 50% of the total score, tasked-based simulations count for 35%, and written communication tasks count for 15%.

The test sections employ multi-stage testlets for the multiple-choice questions. The first testlet is always of moderate difficulty. Depending on your performance, the next testlet will be of the same level or slightly more difficult.

Let's look at what each section covers.

Financial Accounting and Reporting

The FAR section tests knowledge and understanding of the financial reporting framework used by business enterprises, not-for-profit organizations, and government entities. It includes 66 multiple-choice questions as well as eight task-based simulations that use real-life work situations to test your skill.

This section deals with standards for financial statements, what needs to be included in statements, and how to account and report for government agencies, non-profits, and other types of organizations. Test takers are expected to prepare financial statements, including balance sheets, income statements, statements of retained earnings, equity, comprehensive income, and cash flows. They also must review source documents and enter data into subsidiary and general ledgers.

Test takers must show they understand the process by which accounting standards are set and the roles of various governmental and industry groups such as the U.S. Securities and Exchange Commission (SEC), the Financial Accounting Standards Board (FASB), the International Accounting Standards Board (IASB), and the Governmental Accounting Standards Board (GASB).

For most people, FAR is the toughest section of the overall CPA exam. You have up to four hours to take it.

Auditing and Attestation

The AUD section is a bit easier, especially if you’ve tackled FAR first. It has 72 multiple-choice questions and eight task-based simulations. It covers the planning and reviewing of engagements, internal controls, obtaining and documenting information, and communications preparation.

As with FAR, test-takers need to demonstrate knowledge of international accounting standards, in particular, the difference between International Standards on Auditing (ISAs) and U.S. auditing standards. They must identify situations that might be unethical or a violation of professional standards and determine the appropriate action to these situations. In addition, they must identify key risks in a financial information technology environment.

AUD also covers standards for preparing reports on audited financial statements, government auditing standards, compliance with laws, regulations, and internal control, along with other communication standards accountants must know. This section will also test your knowledge of the ethics and independence required by the AICPA, the Sarbanes-Oxley Act of 2002, the Government Accountability Office, and the Department of Labor.


The REG section covers ethics and professional responsibility, business law, tax procedures and accounting, and federal taxation for individuals, entities, and property transactions. This section has 76 multiple-choice questions and eight task-based simulations.

Test-takers must show that they understand the professional and legal responsibilities of certified public accountants, as well as the legal implications of business transactions as they relate to accounting, auditing, and financial reporting. This section deals with federal and widely adopted state laws. You must show you understand the rights, duties, and liabilities of debtors, creditors, and guarantors as well as the audit and appeals process employed by the Internal Revenue Service (IRS). This section also covers the alternative minimum tax and both estate and gift taxation.

Business Environment and Concepts

BEC is arguably the easiest section, and most candidates pass it on their first attempt. The BEC section has 62 multiple-choice questions, four task-based simulations, and three written communication tasks, wherein test takers must respond in a letter or memo format to a work scenario. This is used to assess candidates’ writing skills as well as their organization, clarity, and conciseness.

This section addresses business structures, economic concepts, financial management, and information technology. You must show you understand corporate governance, financial risk management, financial management processes, strategic planning, and operations management. This section also tests your understanding of the economic concepts of global business and how they impact an entity’s business strategy.

Test-takers are called to assess the impact of business cycles on an entity’s operations and evaluate operations and quality control initiatives to measure and manage performance and costs. 

Expect to be tested on the rights, duties, and ethics of an entity’s board of directors, officers, and other employees. Questions will also cover information systems and technology risks, the Committee of Sponsoring Organizations of the Treadway Commission (COSO), as well as corporate responsibility and financial disclosures necessitated by the Sarbanes-Oxley Act of 2002.

The Bottom Line

Even without the required schooling and work experience, CPA test takers have their work cut out for them. But the reward is a respected professional designation that most often comes with a significantly higher rate of pay. To provide yourself the best chance possible when taking the exam, taking one of the best CPA prep courses might be worth considering.

Tue, 18 Oct 2022 14:41:00 -0500 en text/html https://www.investopedia.com/articles/investing/111214/cpa-exam-what-you-need-know.asp
Killexams : Financial Accounting Professional Certificate Examination Killexams : Access Denied

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Killexams : Prepare for the CFMP Exam


The CFMP advisory board has determined that a competent bank marketing professional's expertise includes the following domains:

  • Data, Research, and Measurement
  • Strategy
  • Revenue Generation
  • Communication and Brand
  • Risk Management 

Please review the CFMP Examination Outline and Informational Webinar for additional details.

Study Resources

While ABA recommends these resources as appropriate examination preparation, ABA does not certain that you will pass the test by studying these materials alone. The CFMP test assesses not only your knowledge of the Topics on the test outline, but also your application of that knowledge. You should refer frequently to the CFMP Examination Outline when preparing for the exam.

IMPORTANT NOTICE: The only legitimate resource for ABA’s certifications, including reference materials, are available on www.aba.com. Any other resources or guides related to ABA’s certification programs offered for sale on third party platforms such as Amazon and eBay is not authorized by the ABA and such purchases are at the buyer’s risk. While it is not illegal for publishers to write separate resources to potential customers, it can be difficult to determine the legitimacy of offers from these organizations, especially if they contain unauthorized uses of ABA’s federally protected logo. If you do not make your purchase with ABA directly, we will not be able to assist you in any capacity. Please contact ABA Customer Service at 1-800-BANKERS to be directed to a legitimate resource.

  • Certificate

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Foundational Certificate in Bank Marketing

Signifies knowledge of marketing’s role in a financial institution and within the banking industry as a whole. This is achieved through learning to develop comprehensive strategic marketing plans, leveraging social media for bank branding and more.

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Bank Marketing School

Designed to help students think more strategically in their marketing endeavors, and better align their campaigns with corporate goals. School alumni will become invaluable leaders in their banks.

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An interactive, user-friendly online course that allows students to study at their own pace, with access to resources and practice exams modeled after an genuine exam.

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When you're ready to apply, double check the eligibility requirements, select your test date, and submit your application.

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ABA Bank Marketing Conference

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Why Earn Your CFMP?

Hear from John Oxford about the benefits of earning the CFMP designation.

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Exam Format, Scoring and Reporting

  • 150 multiple-choice questions (see sample questions)
  • Maximum 3 hour timeframe allowed
  • Calculators will be provided
  • Instant "Pass/Fail" outcome provided for most computer based exams at test sites. Occasionally, instant outcomes are not provided while statistical analysis is conducted.
  • Official score reports delivered via email within 6 weeks after the close of the test window
  • For full details, read the Certification test FAQs

Examination Misconduct

All persons taking one of ABA Professional Certifications' examinations are expected to abide by all rules and regulations governing the examination before, during and after the examination. Possession of copies of any current or previous examination given by ABA Professional Certifications is not authorized and is a violation of the rules governing certification exams. Persons taking an ABA Professional Certifications examination are not permitted to take notes about the examination.

Any person found to have violated any of the rules governing ABA Professional Certifications exams, or to have conducted themselves in a dishonest or unethical manner with respect to the taking of an ABA Professional Certifications test is subject to sanctions determined to be appropriate by ABA Professional Certifications, in its sole discretion, including, but not limited to: denial of certification; denial of the right to take any or all ABA Professional Certifications examinations. Answer sheets provided at paper/pencil testing sites determined, before grading, to have been completed by a person who has violated ABA Professional Certifications examination rules will not be graded. We reserve the right to pursue any and all remedies available to it, including legal remedies, with respect to any violation of its examination rules against anyone who violated ABA Professional Certifications examination rules or aided another in violating these rules.

Any person found to have violated any of the rules governing ABA Professional Certifications exams, or to have conducted themselves in a dishonest or unethical manner with respect to the taking of an ABA Professional Certifications test is subject to sanctions determined to be appropriate by ABA Professional Certifications, in its sole discretion, including, but not limited to: denial of certification; denial of the right to take any or all ABA Professional Certifications examinations. Answer sheets provided at paper/pencil testing sites determined, before grading, to have been completed by a person who has violated ABA Professional Certifications examination rules will not be graded. We reserve the right to pursue any and all remedies available to it, including legal remedies, with respect to any violation of its examination rules against anyone who violated ABA Professional Certifications examination rules or aided another in violating these rules.

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Wed, 30 May 2018 12:26:00 -0500 en text/html https://www.aba.com/training-events/certifications/certified-financial-marketing-professional/prepare-for-the-exam
Killexams : 10 Best Financial Certifications No result found, try new keyword!Financial certifications demonstrate ... only qualify if they already have 6,000 hours of professional experience and take a lengthy exam. Advisors with the CFP designation will focus on planning ... Fri, 16 Apr 2021 20:15:00 -0500 text/html https://money.usnews.com/financial-advisors/articles/best-financial-certifications Killexams : CAIA vs. CFA: The Main Differences

CAIA vs. CFA: An Overview

It can be challenging for finance professionals to keep up with the alphabet soup of potential professional titles. That is especially true when many programs seem to cover much of the same information. Such is the case when comparing the designations of Chartered Alternative Investment Analyst (CAIA) and Chartered Financial Analyst (CFA). These are both attractive options for professionals committed to a career in the field of financial analysis.

CFA and CAIA certifications are designed for analytical professionals. Furthermore, they both require passing a series of exams from a reputable organization in the industry. However, most of the similarities between the two are superficial. Their content and future applications have less in common.

Generally speaking, the CFA covers a broader range of financial Topics and has a larger membership base. The CAIA is a useful title for some professionals, but its application and focus are more narrow.

Key Takeaways

  • CFA and CAIA exams are both designed for analytical professionals, and both require passing a series of exams from a reputable organization in the industry.
  • Since the CAIA covers investments that aren't equities or bonds, the title could be considered superfluous for many financial professionals.
  • Some financial advisors and brokers can survive without it, as can certain analysts, but most analytical professionals benefit from the CFA designation.


It takes a long time and a substantial investment of money to complete each program. The CAIA requires an estimated 200 hours of study time per level for a total of 400 hours and $2,900 in standard registration and test fees. The CAIA Association administers the program and sets its basic requirements. Data show that 75 percent of candidates who earn their CAIA charter do so in 12 to 18 months.

Specific Topics for the CAIA include manager research and due-diligence techniques specific to hedge funds and private equity. The test also covers asset allocation models that account for the illiquidity and fat tails of alternative investments. Other Topics include the implications of appraisal-based pricing of real estate and private equity for asset allocation and risk management. Investments in areas such as intellectual property, insurance-linked securities, and equity-linked structured products are also covered.

There are no prerequisites for taking the Level 1 and Level 2 CAIA exams. However, it is best to have a working knowledge of financial and investment concepts. After passing the exams, a bachelor's degree and one year of relevant work experience are enough to claim the CAIA title. Professionals without the degree who have passed the exams can also get the title after four years of related experience.


The CFA Institute reports an average of 300 hours of study per level (900 hours for all three) and charges a total of $3,450 for its exams.  The CFA test material covers much more than just alternative investments, but it devotes far less time to that topic. That makes the CFA broader and more shallow, whereas the CAIA is very focused and deep. Both tests cover professional standards and ethics. 

CFA Topics include general economics, financial reporting and analysis, corporate finance, equity investments, fixed income, portfolio management, and quantitative analysis.

CFA exams are more challenging and spread further apart. There are three tests, which are called Levels 1, 2, and 3. Only Level 1 is administered more than once per year. Most professionals take three years or more to earn the CFA designation because of the difficulty of the exams. Only 43% of CFA test takers pass Level 1, with 45% passing Level 2, and 56% passing Level 3.

The CFA Institute is more selective about its designation. Before taking the Level 1 exam, applicants must do one of three things. They can get a bachelor's degree, reach the final year of a bachelor's program, or obtain a combination of work experience and college equal to four years. Once applicants pass the Level 3 exam, they must have four full years of relevant work experience to earn the CFA title.

Special Considerations

Most career investment professionals would benefit from a CFA title next to their names. However, financial advisors and brokers can survive without it, as can certain analysts.

Some positions, such as portfolio manager and mutual fund analyst, essentially require applicants to be CFAs.

Since the CAIA covers investments that aren't equities or bonds, the title could be considered superfluous for most financial professionals. However, the CAIA does have two specific and lucrative homes, namely private equity and hedge funds. The CAIA is useful in large part because alternative investments are an essential part of many institutional investment portfolios. The CAIA is relevant to financial professionals who want to focus on alternative investments at pension funds, foundations, and sovereign wealth funds.

Sat, 15 Aug 2020 17:57:00 -0500 en text/html https://www.investopedia.com/articles/professionals/110315/caia-vs-cfa-how-are-they-different.asp
Killexams : Is the 'grueling' CFA test worth it for advisors?

Many financial planners have an interest in becoming a Chartered Financial Analyst (CFA). But while some understand what they are getting into when they decide to take the test — the cost, the time it will take, and how having the charter will help their careers — others don't. 

Sam Gottlieb.png

Sam Gottlieb is program director for CFA education at UWorld.

Before you make that decision, it is crucial to understand that earning the CFA designation is a grueling process. You need to consider whether the benefits for your career outweigh the challenges associated with studying for and passing three notably difficult exams (the pass rate for the August 2022 CFA level 1 test was 37%).

As one who has passed the test and created materials for others hoping to pass, here's my advice.

Education and career benefits
The charter may enhance your career mobility and earning potential by giving you a leg up on other job candidates and colleagues. The operative word here is "may." Career progression involves many variables, many of which you will likely have limited control over. But having an additional credential, especially one as universally recognized as the CFA charter, will never hurt you.

Even if you work as an independent financial advisor, having the charter can help you. Many advisors have earned the Certified Financial Planner designation, which, as the name suggests, focuses on overall financial planning for individuals. The curriculum for the CFP exam covers areas such as retirement planning and insurance needs. The CFA exam, by contrast, focuses more on financial analytics. An advisor with both designations will likely be better positioned to assist clients map out a strategy for financial success and to recommend the best investments for executing on the strategy. And since just about 5% to 10% of CFPs also carry the CFA designation, holding it can help set you apart. 

There are several financial career paths where being a CFA charterholder is a significant advantage and one of those areas is investment management. As that sector becomes more commoditized and competitive it becomes increasingly imperative for investment professionals to earn additional accreditation as a way to differentiate themselves from the rest of the pack.

As for skills, charterholders can be an advantage when it comes to areas including  asset management for nonprofits; equity or fixed income analysis;  quantitative analysis; academia; and, last but not least,  financial planning.

The average salary for an MBA degree-holder is $135,000, compared to $93,000 for a CFA charterholder. However, an MBA program can cost anywhere from $50,000 to $200,000 and take two years to complete — or longer if you pursue it as a part-time student. The CFA exams cost $3,000 and require approximately 300 hours of study per exam. However, the potential income differential should not be the deciding factor between these two designations as the programs are completely different in focus. The right choice is very much driven by the type of career you want to pursue.

Getting — and keeping — the job
I'm often asked by accurate graduates, "How do I make myself bulletproof in this industry?" Employment in the financial world is very much tied to the economy, and in tough economic times, there will be layoffs. Earning the CFA charter is one step you can take to maximize your chances of survival when companies are reducing headcount. The additional knowledge you receive from studying for the exams, as well as the dedication you show by setting and achieving a difficult goal, will show your employer flexibility and dedication.  

In order to earn the CFA designation, one must demonstrate a deep understanding in investment analysis of different financial assets, of management and of ethics. In the process, you will gain knowledge, add an impressive credential to your CV and boost your reputation. Investment professionals know the dedication and time it takes to earn the charter. When they see that you have earned it, they recognize that you possess superb analytical skills, ethical grounding and dedication. 

Pass or fail
Each level of the CFA curriculum and test are different in subject matter and format. Level I focuses on fundamentals, such as bond pricing and probability concepts. Level II covers the same Topics as Level I, but in far more detail and with a focus on real-world application of the concepts. In Level III, the most advanced level, candidates are expected to perform sophisticated analysis on multiple asset classes and to explain their decisions and conclusions. Level III is also different in terms of format. Whereas Levels I and II are composed of  multiple-choice questions, Level III is split between multiple choice and essay questions. Note that ethics comprise a significant portion of all three levels on the exam. 

In 2021, pass rates for all three levels plunged to record lows, causing lot of hand-wringing among current and future candidates who wondered whether it was "too technical" that year; if CFA Institute had decided to raise the minimum passing score; or whether pandemic-related disruptions and other reasons factored into the dramatic plunge.

To me, the "why" of  the dropped pass rate is irrelevant. If you're studying for an exam, you want to be in that passing group, so it's more important to do what's necessary to pass, rather than look for reasons why you might not. The CFA exams are hard but fair, and the bottom line is that if you study, you pass. By studying, I mean that you need to devote yourself to the goal. Although you can't ignore your fundamental obligations to work and family, at the same time, you must recognize that you can't go out with friends after work because that represents time you could be studying. Turn off the TV and shut off the phone — or at least turn off social media).

I believe that there are three main reasons why people fail the CFA exams: you allow yourself to be too distracted; you don't study for at least 300 hours for each level;  and/or you don't have a strategy to take the exam.

Here are two tips to help you pass:

  •  Set a schedule and stick to it: Create a balance between the time you need to study and when you need to do other things. I passed all three levels the first time and it wasn't luck: I worked very hard because I was motivated. I didn't want to have to study for it again. Develop the discipline to schedule different aspects of your life so you set yourself up for success.
  • Time the arc of your studying so that on test day you're at the peak. Ideally, when you walk into that test center, you're never going to know more about this material. Don't fill your head with information months in advance and then do minimal studying until you take the exam. It's difficult to force yourself to keep studying when you finished your primary studying months before the exam, and you likely won't retain as much from that initial effort as you might think.

The CFA is not for everyone, but nearly everyone who has earned the charter agrees that the effort was worthwhile. Do you have the dedication and discipline to put in the effort? If so, then the path to the charter is a great journey to embark on.

Mon, 30 Jan 2023 05:40:00 -0600 en text/html https://www.financial-planning.com/opinion/is-the-grueling-chartered-financial-analyst-exam-worth-it-for-financial-advisors
Killexams : The FT launches newsletter course


The first Financial Times email course aims to guide readers on their business school journey.

The FT launches newsletter course
Andrew Jack: “The course offers a specially written series of emails drawing on leading experts to provide readers with deep insights into whether and how to apply for an MBA.” Photograph: FT.

The Financial Times says it has launched its first newsletter course, MBA 101. Written by global education editor Andrew Jack and content editor Wai Kwen Chan, MBA 101 guides readers through the process of applying and getting into business school, with advice from students, admissions officers and business professionals.

MBA 101 is aimed at university students and professionals interested in applying to business school, as well as parents and family members who want to learn about the MBA application process. The course is different from other FT newsletters, as a series of sequential emails that teaches subscribers about this specific topic.

During the six-week course, the FT says readers will learn how to choose the right MBA course, prepare for entrance exams, write a stand-out essay, succeed in admission interviews, get grants and scholarships to fund an MBA, and more. Readers will receive the MBA 101 newsletter weekly in order from whenever they sign up.

Andrew Jack said: “The course offers a specially written series of emails drawing on leading experts to provide readers with deep insights into whether and how to apply for an MBA.”

The FT has launched MBA 101 in conjunction with its annual MBA rankings, now in their 25th year, to provide a practical tool for university students and professionals who are interested in continuing their education.

The course is available for both FT subscribers and registered users. FT business school content is free to read. The FT says you can register for MBA 101 today and receive the first email on 21 February.

Keep up-to-date with publishing news: sign up here for InPubWeekly, our free weekly e-newsletter.
Wed, 15 Feb 2023 18:57:00 -0600 en text/html https://inpublishing.co.uk/articles/the-ft-launches-newsletter-course-21654
Killexams : What to Expect From the Certified Financial Planner Exam

SmartAsset: CFP exam: how to study and what to expect

If you’re interested in becoming a certified financial planner, passing the CFP test is a necessary step. The CFP test is a 170-question multiple choice test that’s designed to thoroughly test your knowledge about financial planning. Preparation is key, as the test has a reputation for being difficult. Developing a plan for study and knowing what to expect on test day can increase your odds of earning a passing grade.

If you are looking to grow your financial advisory business, check out SmartAsset’s SmartAdvisor platform.

What Is the CFP Exam?

The CFP test is a comprehensive test that gauges your ability to apply financial planning concepts to real-world scenarios. Passing the test is a requirement for obtaining a certified financial planner designation. The test is administered by the CFP Board three times a year in March, July and November, both in person and through remote testing centers.

To complete the test, you must answer 170 multiple-choice questions. The test is administered in two three-hour sessions. There is a fee to take the test, which is determined by your registration date. The fee schedule is as follows:

  • Early registration – $825

  • Standard registration – $925

  • Late registration – $1,025

You can register to take the CFP test online at the CFP Board website. To register for the test, you must either complete a CFP Board registered program or complete equivalent coursework. Submitted coursework is subject to a transcript review by the CFP Board.

If you opt for the second route, you have to verify your coursework before the test date. Otherwise, your registration will be withdrawn, and you’ll be charged a $500 postponement fee.

You don’t need a bachelor’s degree to take the CFP exam. You do, however, need to complete a bachelor’s degree program within five years of passing the exam.

What Does the CFP test Cover?

The CFP test spans several areas of core knowledge that the CFP Board deems necessary to work as a certified financial planner. Those core areas include:

  • Professional conduct and regulation

  • General principles of financial planning

  • Risk management and insurance planning

  • Investment planning

  • Tax planning

  • Retirement saving and income planning

  • Estate planning

  • Psychology of financial planning

Each section is assigned a different weighting. For example, retirement savings and income planning account for 18% of the test questions while the psychology of financial planning is just 7%.

All questions are pass/fail and count as one point each toward your score. In terms of the minimum score needed to pass, the CFP Board does not disclose one. Instead, the Board uses the results of the test to gauge how competent someone is to carry out the duties of a certified financial planner. As of November 2022, the test had a 64% pass rate.

How to Study for the CFP Exam

SmartAsset: CFP exam: how to study and what to expect

The CFP test is designed to test what you know about financial planning and your ability to apply those concepts to situations you might encounter when working as a financial planner. With that in mind, here are a few helpful tips for preparing for the CFP exam.

  • Start early. While it takes just a few hours to complete the CFP exam, it can take months of study to fully prepare. Depending on how much time you have available, you may want to begin your studies three months, six months or even a year in advance of your anticipated test date.

  • Take advantage of CFP resources. The CFP Board provides free study resources, including a full-length practice exam, study guides and a mentoring program to help you prepare. Those benefits are all included with your test registration fee.

  • Create a study schedule. Having a set study schedule can help you to get organized and keep an appropriate pace so that you’re able to cover everything before the exam. You can set your schedule to include specific days and times, which can help you stay committed to the plan.

  • Consider a course. Taking a CFP test prep course might be helpful if you’re more comfortable learning in an instructional environment, rather than just doing a self-paced study. You’ll typically pay a fee for these courses, but it may be worth it if you’re able to glean new knowledge or study skills as a result.

Practice makes perfect. And the more problem-solving activities you’re able to complete, the more prepared you may be by the time test day rolls around. Again, what’s most important to keep in mind is how you can use the concepts you’re learning practically when working with clients as that’s what the CFP Board is most concerned with.

What to Expect When Taking the CFP Exam

How you prepare for the day of the test depends largely on whether you registered to take the test remotely or in person. If you’re taking the test at a testing center, you’ll need to have a valid, government-issued ID to gain entry.

You’ll also need to offer a fingerprint, take a photo and complete a body scan upon entering the test center. A body scan isn’t required for remote testing, but you will need to provide a video of your test-taking workspace. And you will need to demonstrate you’re not concealing any cheat sheets on your person.

Before the test begins, the test administrator will go over the rules and regulations of the test center. They’ll review your calculator to make sure it’s up to standard and provide you with a whiteboard to use during the exam. Once the preliminaries are over, you’ll be shown to your test seat.

The test is self-paced but it’s important to keep the three-hour time limit in mind as you work through each section. You’ll have a five-minute tutorial to complete beforehand, followed by 180 minutes to complete 85 test questions. There’s a 40-minute break period, followed by the second 180-minute block to complete the remaining questions.

You’ll have a chance to take a brief survey once the test is over to share your feedback. After you complete the CFP exam, you’ll get your results by email, typically within four weeks.

Is Taking the CFP test Worth It?

SmartAsset: CFP exam: how to study and what to expect

Taking the CFP test is worth it if you want to pursue a career as a certified financial planner. You won’t be able to do so without first taking the exam.

Working as a certified financial planner can be rewarding if you’re passionate about helping people to reach their financial goals. The CFP test can prepare you for a wide range of situations you might encounter when working with clients. And it can help you to fine-tune your problem-solving skills.

However, you don’t need to obtain a CFP designation if you’re interested in becoming a certified educator in personal finance (CEPF) or a certified credit counselor. While there are educational requirements that need to be met for those designations, they’re not as rigorous as the CFP exam.

The Bottom Line

The CFP test can seem a little daunting and early planning can be critical to your success in achieving a passing grade. Knowing what the test covers, how to study for it and what happens on the test day can help you to approach it calmly and confidently.

Tips for Growing Your Financial Advisory Business

  • Partner for growth. If you’re interested in scaling your financial advisory business, you don’t have to go it alone. SmartAsset’s SmartAdvisor platform makes it easy to match with vetted financial advisors who fit your ideal client profile, without having to do any active canvassing. You can get leads delivered to your inbox and you only pay for those you connect with. If you’re ready, get started now.

  • Keep an eye on trends. Knowing what your clients want is key to better meeting their needs. It’s also central to attracting new prospects to your business. SmartAsset’s recent survey reveals the top year-end moves advisors are discussing with clients.

Photo credit: ©iStock.com/Michele Pevide, ©iStock.com/Sean Anthony Eddy, ©iStock.com/MangoStar_Studio

The post CFP Exam: How to Study and What to Expect appeared first on SmartAsset Blog.

Mon, 02 Jan 2023 02:06:00 -0600 en-CA text/html https://ca.sports.yahoo.com/news/expect-certified-financial-planner-exam-140049762.html
Killexams : QuintEdge takes lead in CFA test coaching with record 88 per cent success rate

New Delhi [India], February 18 (ANI/PNN): The finance and investment industry is well-known for being fast-paced and highly competitive. Thanks to this competitive spirit, finance and banking professionals are driven by this urge to take their careers to new heights. Naturally, they go for the CFA certification to emerge as efficient and ethical investment professionals.

However, getting through all three levels of the CFA exam is not something easy to comprehend. QuintEdge is a Finance exams preparation platform which makes sure that all candidates practise and prepare for the exams conveniently.

QuintEdge is the brainchild of CA Yash Jain, an FRM, CFA, and investment banking trainer who has trained 5,000+ candidates in FRM, CFA, financial modelling, valuations, and corporate finance. The company was born out of Yash's vision to bridge the gap in the space of finance education in India.

The company's learning platform is equipped with more than 2,000+ practice questions, including adaptive practice MCQs with solutions, summary notes, and videos to offer a well-rounded preparation experience to individuals. The study modules ensure that every student is prepared in all aspects of finance and investment before taking the genuine exams.

"At QuintEdge, our motto is to ensure that every student has learnt the genuine concept and has been able to develop strong fundamentals. Hence, we use real-life examples, story-telling techniques, and software to make the students visualise the tough formulas and not just mug them up," says CA Yash Jain, Co-Founder of QuintEdge.

QunitEdge is led by its expert team of faculties, consisting of industry veterans who belong to companies like Bain, Goldman Sachs, and other top investment banks. The platform emphasises providing its students with a top-notch learning experience from industry experts and experienced professionals, making it unlike any other CFA coaching platform in the market.

Yash further elaborates, "We believe that education extends way beyond classroom teaching. Hence, we not only coach our students from the examination point of view but also prepare them for getting a job in the field of finance."

Owing to its uncompromising focus on quality coaching support, the company has also achieved an 88 per cent candidate success rate collectively in CFA exams in the past 4 attempts, collectively and is now all set to touch new heights of success.

More About Quintedge & Future Plans

QuintEdge, a one-of-its-kind Finance test preparation platform, aims to reach 1 million learners on its platform by December 2023. Currently, the platform already has more than 100K learners enlisted. As the company is striving to attain a new milestone in terms of the total number of learners on the platform, it also plans to touch and transform the lives of more people with its CFA exam preparation services.

This story is provided by PNN. ANI will not be responsible in any way for the content of this article. (ANI/PNN)

Fri, 17 Feb 2023 18:54:00 -0600 en text/html https://www.bignewsnetwork.com/news/273538273/quintedge-takes-lead-in-cfa-exam-coaching-with-record-88-per-cent-success-rate
Killexams : ChatGPT could be a Stanford medical student, a lawyer, or a financial analyst. Here's a list of advanced exams the AI bot has passed so far.

Wharton MBA exam

ChatGPT would have received a B or B- on a Wharton exam, according to a professor at the business school.
David Tran Photo/Shutterstock

Wharton professor Christian Terwiesch recently tested the technology with questions from his final test in operations management— which was once a required class for all MBA students — and published his findings

Terwiesch concluded that the bot did an "amazing job" answering basic operations questions based on case studies, which are focused examinations of a person, group, or company, and a common way business schools teach students.  

In other instances though, ChatGPT made simple mistakes in calculations that Terwiesch thought only required 6th-grade-level math. Terwiesch also noted that the bot had issues with more complex questions that required an understanding of how multiple inputs and outputs worked together. 

Ultimately, Terwiesch said the bot would receive an B or B- on the exam. 

US medical licensing exam

ChatGPT passed all three parts of the United States medical licensing examination within a comfortable range.
Getty Images

Researchers put ChatGPT through the United States Medical Licensing test — a three part test that aspiring doctors take between medical school and residency — and reported their findings in a paper published in December 2022. 

The paper's abstract noted that ChatGPT "performed at or near the passing threshold for all three exams without any specialized training or reinforcement. Additionally, ChatGPT demonstrated a high level of concordance and insight in its explanations."

Ultimately, the results show that large language models — which ChatGPT has been trained on— may have "the potential" to assist with medical education and even clinical decision making, the abstract noted

The research is still under peer review, Insider noted based on a report from Axios. 


While ChatGPT has generated convincing essays on occasion, it's also raised eyebrows for spewing out well-written misinformation.
Tech Insider

It didn't take long after ChatGPT was released for students to start using it for essays and educators to start worrying about plagiarism. 

In December, Bloomberg podcaster Matthew S. Schwartz tweeted that the "take home essay is dead." He noted that he had fed a law school essay prompt into ChatGPT and it had "responded *instantly* with a solid response." 

In another instance, a philosophy professor at Furman University caught a student turning in an AI-generated essay upon noticing it had "well-written misinformation," Insider reported

"Word by word it was a well-written essay," the professor told Insider. As he took a more careful look however, he noticed that the student made a claim about the philosopher David Hume that "made no sense" and was "just flatly wrong" Insider reported

In an interview in January, Sam Altman— CEO of OpenAI which makes ChatGPT — said that while the company will devise ways to help schools detect plagiarism, he can't certain full detection. 

Microbiology quiz

ChatGPT successfully passed through a college level microbiology quiz.
Clouds Hill Imaging Ltd./Getty Images

Science journalist and executive editor of Big Think, Alex Berezow, tested ChatGPT with a 10-question microbiology quiz that he devised

Berezow, who also holds a Ph.D in microbiology, noted that the questions would be appropriate for a final test for college level students. ChatGPT "blew it away," Berezow wrote. 

In one example, Berezow asked: 

"An emergency room patient presents with a terrible headache and stiff neck. The doctor orders a spinal tap to collect cerebrospinal fluid. A Gram stain of the CSF reveals the presence of Gram negative diplococci. What is the diagnosis?"

To which ChatGPT correctly responded:

Based on the information you provided, the Gram stain of the cerebrospinal fluid (CSF) shows the presence of Gram-negative diplococci, which are bacteria that are typically oval-shaped and occur in pairs. This finding is consistent with the diagnosis of meningitis.

In another instance he asked:

"In five words or less, what is the point of Koch's postulates?"

To which ChatGPT said: 

Establish causality between microbe and disease.

Taking out the word "and" Berezow said ChatGPT "Nailed it."

Law School Exams

Jacobs Stock Photography Ltd/ Getty Images

ChatGPT recently passed exams in four law school courses at the University of Minnesota, based on a recently published paper written by four law school professors at the school. 

In total, the bot answered over 95 multiple choice questions and 12 essay questions that were blindly graded by the professors. Ultimately, the professors gave ChatGPT a "low but passing grade in all four courses" approximately equivalent to a C+. 

Still the authors pointed out several implications for what this might mean for lawyers and law education. In one section they wrote:

"Although ChatGPT would have been a mediocre law student, its performance was sufficient to successfully earn a JD degree from a highly selective law school, assuming its work remained constant throughout law school (and ignoring other graduation requirements that involve different skills). In an era where remote test administration has become the norm, this could hypothetically result in a struggling law student using ChatGPT to earn a JD that does not reflect her abilities or readiness to practice law."

Stanford Medical School clinical reasoning final

ChatGPT recently passed a Stanford Medical School final on clinical reasoning.
(Photo by David Madison/Getty Images)

ChatGPT passed a Stanford Medical School final in clinical reasoning. According to a YouTube video uploaded by Eric Strong — a clinical associate professor at Stanford — ChatGPT passed a clinical reasoning test with an overall score of 72%. 

In the video, Strong described clinical reasoning in five parts. It includes analyzing a patient's symptoms and physical findings, hypothesizing possible diagnoses, selecting appropriate tests, interpreting test results, and recommending treatment options. 

He said, "it's a complex, multi-faceted science of its own, one that is very patient-focused, and something that everything every practicing doctor does on a routine basis."

Strong noted in the video that the clinical reasoning test is normally given to first-year medical students who need a score of 70% to pass.

Fri, 10 Feb 2023 10:00:00 -0600 en-US text/html https://www.businessinsider.com/list-here-are-the-exams-chatgpt-has-passed-so-far-2023-1
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