Candidate Survey 2014
of 5
description
cadndidate survey
Transcript of Candidate Survey 2014
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JUNE 2014CFA PROGRAM CANDIDATE SURVEY REPORT
ABOUT THE SURVEY
The pre- and post-exam surveys were conducted among a random sample of half of the June 2014 CFA Program candidates. The pre-exam survey was open from 12 to 26 May and the post-exam survey from 23 June to 7 July. 15,195 candidates responded to the pre-exam survey (21% response rate with a margin of error of 0.7%) and 21,432 candidates responded to the post-exam survey (30% response rate with a margin of error of 0.6%).
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37%Career advancement/development opportunities
20%Attain a higher level of knowledge
11%Credibility of the CFA designation
10%Improved chances of obtaining a job
8%To challenge myself
6%
To join a community of globally respected financial professionals
9%Other
VALUE OF THE CFA PROGRAM AND CFA INSTITUTE
WHICH BEST DESCRIBES YOUR PRIMARY MOTIVATION FOR REGISTERING FOR THE JUNE 2014 CFA EXAM?
of candidates think CFA Institute is implementing its mission effectively
of candidates say that what CFA Institute offers is relevant to their career
Candidates rate the value of earning the charter very highly, with an average value rating of 8.9 out of 10. 97%
2014 CFA Institute
81%
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EXAM PREPARATION
79%
58%
56%
79%
53%
44% 86%
85%
89%
83%
81%
85%
98%
97%
97%
96%
94%
91%
86%
79%
AVERAGE HOURS SPENT STUDYING FOR THE EXAM:
PERCENT WHO AGREE WITH THE FOLLOWING STATEMENTS ABOUT THE CFA PROGRAM CURRICULUM:
PERCENT OF CANDIDATES WHO USED THE
FOLLOWING TO PREPARE FOR THE EXAM:
PERCENT OF CANDIDATES USING THE RESOURCE WHO SAID IT PREPARED THEM WELL OR VERY WELL FOR THE EXAM:
CFA Institute free mock exam
Non-CFA Institute study notes or other prep materials
Non-CFA Institute practice exams
CFA Program curriculum assigned readings: print and/or e-book
CFA Program curriculum end-of-reading problems
Topic-based practice tests
36% 87%Non-CFA Institute review courses/programs
8%4% 69%
75%CFA Institute Interactive Study PlannerCFA Program App
(Only Level I)
9% 80%Local study group
3% 83%Other
307TOTAL
It improved my understanding of important topics
The end-of-reading problems help to explain the concepts taught
The in-text examples help to explain the concepts taught
It focuses on concepts important to my profession
It effectively teaches the Learning Outcome Statements (LOS)
It is appropriate for self-study
It is appropriate for a generalist program
The number of end-of-reading problems is sufficient
324LEVEL III
313LEVEL II
283LEVEL I
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DIFFICULTY OF EXAM TOPIC AREAS:
-QUANTITATIVE METHODS
-CORPORATE FINANCE-EQUITY INVESTMENTS
-ECONOMICS-FINANCIAL REPORTING AND ANALYSIS
-FIXED INCOME
-PORTFOLIO MANAGEMENT70%
58%
54%
65%
75%
-DERIVATIVES73%
100% of candidates
rated as difficult or very difficult
0% of candidates rated as difficult or very difficult
-ALTERNATIVE INVESTMENTS66%
-ETHICAL & PROFESSIONAL STANDARDS63%
JUNE 2014 EXAM
IF YOU DO NOT PASS THE EXAM, WILL YOU RE-TAKE IT?
YES
COMPARED WITH THE ESSAY QUESTIONS, THE ITEM SET QUESTIONS WERE:(Level III candidates only)
agree the exam questions were based on Learning Outcome Statements (LOS)
agree the exam fairly represented the CFA Instituteassigned curriculum
agree the exam questions covered subject matter of importance to investment professionals
?68%
UNDECIDED26%
NO6%
24%MORE DIFFICULT
35%LESS DIFFICULT
41%EQUALLY AS DIFFICULT
COMPARED WITH YOUR EXPECTATIONS, DID YOU FIND THE EXAM QUESTIONS TO BE:
32%MORE DIFFICULT
7%LESS DIFFICULT
61%EQUALLY AS DIFFICULT
92%
90%
agree the test center environment was conducive to taking the exam
agree the exam questions were clearly written
89%
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32014 CFA Institute
90%
84%
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EMPLOYER AWARENESS/SUPPORT
AWARENESS AND REGISTRATION
HOW DID YOU FIRST BECOME AWARE OF THE CFA PROGRAM?Only new Level I candidates were asked to respond to this question
HOW LONG AFTER BECOMING AWARE OF THE CFA PROGRAM DID YOU REGISTER FOR THE EXAM?Only new Level I candidates were asked to respond to this question
IS YOUR EMPLOYER AWARE OF THE CFA PROGRAM?Percentage of those with an employer
20%A professor/teacher
14%A classmate
18%A friend
18%A colleague
7%A manager or
supervisor
6%A family member
4%The CFA Institute website
4%Media coverage
9%Other
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3%
7 months to less than 1 year
1 to less than 2 years
2 years or more
Dont know/cant remember
HOW DOES YOUR EMPLOYER CURRENTLY SUPPORT YOUR PARTICIPATION IN THE CFA PROGRAM?Percentage of those with an employer
OtherPays/reimburses for enrollment and/or
registration fee
None (my employer does not provide any CFA Program support)
Offers paid study leave
Offers bonus payment if I pass exam
Offers bonus payment if I earn the CFA charter
35% 26% 6% 6% 44%5%
6 months or less26%
15%
25%
30%
69%I pay
89%Yes
11%No
27%My employer
provides payment or
reimbursement (full or partial)
4%Other
TOTALTOTAL
WHO PAYS FOR THE COST ASSOCIATED WITH YOUR JUNE 2014 CFA PROGRAM EXAM REGISTRATION (INCLUDES CFA PROGRAM CURRICULUM)?
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EMPLOYMENT OUTLOOK
IN THE COMING 12 MONTHS, DO YOU EXPECT EMPLOYMENT OPPORTUNITIES FOR INVESTMENT PROFESSIONALS IN YOUR LOCAL MARKET TO INCREASE, DECREASE, OR STAY ABOUT THE SAME?
46%Increase
46%Stay about
the same
8%Decrease
INDIA51%77%
20132014
AUSTRALIA28%35%
KOREA36%32%
SINGAPORE32%32%
GERMANY17%30%
SOUTH AFRICA26%28%
CANADA26%27%
SWITZERLAND17%21%
UAE56%67%
CHINA56%60%
UK32%51%
FRANCE28%42%
HONG KONG33%40%
USA38%38%
TOTAL
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PERCENTAGE BY MARKET INDICATING INCREASE
