Finance Exams:

Value addition to resume.

Suryadatta Group of Institues, Pune

Prof.Mahesh Renguntwar
 Careers In Finance
Finance -- the sector most battered by the global meltdown -- is making a comeback.
News streaming in from top B-school campuses such as the IIMs talks of finance
positions once again claiming their place in the sun. Financial heavyweights are
flexing their muscles once again on Day Zero. Names currently doing the rounds are
Morgan Stanley, JP Morgan Chase, Credit Suisse, UBS, HSBC, RBS, Barclays,
Bank of America -- Merrill Lynch, Nomura and many more.

Although a lot of us may want to take advantage of this, a lot of questions may also
arise in our mind.

What are the roles these financial companies offer? What is the meaning of all the
perplexing finance positions in these companies? What does one do exactly? What
is the skill set required? How much does one get paid?

Finance as a career option is a very wide term. In a survey by an education portal, it

was pointed out that over 75 per cent students took finance purely because they felt
that it paid the most. That shows one thing: mostly students and job-seekers find
who opt for this specialisation do not know what they are getting into.

This is an attempt to simplify some of the financial career options students should
look at when contemplating a career in finance.

1. Private equity: The role of private equity is to raise funds from large investors and
invest the money directly into businesses. The usual manner is to raise money from
overseas investors and then find businesses in the growth stage. Most private equity
funds 'exit' the investment after a period of time by selling their holding in the
business to some other investors or doing an initial public offering of the shares of
the business.

2.Investment Banking/Merchant Banking: Investment banking comprises two

major businesses. One is the advisory/ corporate finance role which entails mergers
and acquisitions. This would entail understanding valuations, finding targets,
negotiation and compliance with legal regulations. The second role is what is more
popularly called equity capital markets role. This entails helping corporates raise
funds from investors or the public. So it may entail working on IPOs or Institutional
Offerings.

3. Fund Management: As a fund manager, one is an important decision-maker

typically at a mutual fund. The fund manager has a good overall understanding of the
macro factors which affect the markets as well as the micro factors about which
company to invest in. He invests money in stock market, debt market, directly into
companies, etc depending upon his fund mandate.
4. Equity Research & Sales: The role of equity research is to find out the correct
value of the stock which is trading on the stock exchange doing various types of
research namely fundamental and technical analysis. There are two types of ERs
though. One is the sell-side research which belongs to a brokerage, the aim is to do
research and sell investment ideas to investors so as to earn commission on trading
by the investor. The second is buy-side research, which is a part of usually a buy
side fund like a mutual fund. They analyse the research results of various
brokerages in addition to their own research on investment ideas for the fund
manager.

5.Project Finance & Debt Syndication: This role entails arranging for long-term
finance for infrastructure and industrial projects which will take a long time to pay
back. The first step is to understand the project, conduct a feasibility study, risk
assessment and a detailed financial model. This is done with the purpose to rope in
equity partners (known as sponsors) and lenders. Generally the lending part is done
by multiple banks under leadership of the syndicate bank.

6. Financial Risk Management: Financial risk management is the practice of

creating economic value in a firm by using financial instruments to manage exposure
to risk, particularly credit risk and market risk. Similar to general risk management,
financial risk management requires identifying its sources, measuring it, and plans to
address them. Financial risk management can be qualitative and quantitative. As a
specialisation of risk management, financial risk management focuses on when and
how to hedge using financial instruments to manage costly exposures to risk. In the
banking sector worldwide, the Basel Accords are generally adopted by internationally
active banks for tracking, reporting and exposing operational, credit and market
risks.

7.Corporate Banking: This role entails the entire plethora of banking services
required by corporates. Corporate can be divided into largely two sections Large
Corporates and MSME which is Medium and Small enterprises. A corporate banker
would thus have companies as his clients and service them. Within corporate
banking some of the departments are:

• Credit Borrowing to companies for their expansion and working capital

requirements. Would entail doing a credit evaluation on the company and
sanctioning the loan
• Treasury Help companies manage various types of risks such as foreign
exchange, interest rate fluctuations. Treasuries also take proprietary
positions to make profit in the 'forex' and bond markets.
• Cash Management Solutions: As most companies have a large number of
customers, distributors or branch offices across the country it becomes a
huge challenge to deal in money. Banks offer cash management solutions to
help streamline this entire operation for its corporate customers.
8. Wealth Management: Wealth management is an investment advisory discipline
that incorporates financial planning, investment portfolio management and a number
of aggregated financial services. High net worth individuals, small business owners
and families who desire the assistance of a credentialed financial advisory specialist
call upon wealth managers to coordinate retail banking, estate planning, legal
resources, tax professionals and investment management.

Wealth managers can be independent, certified financial planners. One must already
have accumulated a significant amount of wealth for wealth management strategies
to be effective. Wealth management can be provided by banks, brokerages,
independent financial advisers or multi-licensed portfolio managers whose services
are designed to focus on high-net worth customers.

The fallout of the events of 2008 has produced a high level of skepticism and distrust
among investors, and they will demand greater transparency from their providers to
understand what they own, the value of their investments and associated risks.

9.Retail Banking: Also known as consumer banking, it entails dealing with products
/ services for individual customers. So the scope encompasses getting business for
products such as credit cards, savings accounts, personal loans and auto loans.
Operational roles would entail teller, authorising, clearing, remittances and customer
service.

10. Corporate Finance: A career in corporate finance means you would work for a
company to help it find money to run the business, grow the business, make
acquisitions, plan for its financial future and manage any cash on hand. You might
work for a large multinational company or a smaller player with high growth
prospects.

The job of the financial officer is to create value for a company. As a corporate
finance professional one is typicall involved in four main activities to meet its
objectives: 1) designing, implementing and monitoring financial policies, 2) planning
and executing the financing programme, 3) managing cash resources, and 4)
interfacing with the financial community and investors.

Jobs in corporate finance are also relatively stable. Performance in these jobs
counts, but your job is not going to depend on whether you're selling enough this
week or getting good deals finished this quarter. Rather the key to performing well in
corporate finance is to work with a long view of what's going to make your company
successful. Many would argue that corporate finance jobs are the most desirable in
the entire field of finance. Some of the benefits of working in corporate finance are:
 • You generally work in teams which help you work with people
• It's a lot of fun to tackle business problems that really matter
• You'll have many opportunities to travel and meet people and
• The pay in corporate finance is generally quite good

Thus, a budding financial wiz should look at understanding which area interests
him/her the most and build skill sets which can help take the leap into financial
sector.

Suryadatta Group of Institute

Prof.Mahesh Renguntwar

Dept. of Finance
 The NCFM Programme

Taking into account international experience and the needs of the Indian
financial markets, National Stock Exchange introduced in 1998 a facility
for testing and certification by launching NSE's Certification in
Financial Markets(NCFM).

NCFM is an online testing and certification programme. It tests the

practical knowledge and skills required to operate in the financial
markets. Tests are conducted in a secure and unbiased manner and
certificates awarded based on merit of the candidate to qualify the on-
line test.

The entire process of testing, assessing and scores reporting in the

NCFM is fully automated. The system is operated through an intranet
facility by using a central World Wide Web server with terminals located
at each of the designated test centres to be used as an examination
front end. Communication between the central server and the test
centres is achieved through VSAT/leased line network.

The Test is also offered through the Internet to enable candidates

outside the designated test centres to take tests at their convenience.
This allows flexibility in terms of testing centres, dates and timing and
provides easy accessibility and convenience to candidates.

The easy accessibility as well as flexibility involved in the NCFM

programme has resulted in its wider acceptance among market
intermediaries, students and regulators.
Why NCFM?

The financial markets are going to be the turf of certified professionals

very soon due to regulatory compulsions and/or initiatives of the
industry. By imparting comprehensive knowledge and skill in the chosen
field, NCFM enhances career opportunities for NCFM certified persons.

Some of these modules have regulatory sanctity. For example,

• It has been specified by SEBI that all brokers/dealers and sales

persons in the derivatives market have to mandatorily obtain
certification. Derivatives Market (Dealers) Module of the NCFM
has been recognised by SEBI for the purpose.

• In order to improve the level of knowledge of market participants,

only persons who have passed Capital Market (Dealers) Module of
the NCFM are authorised to use the trading system of the National
Stock Exchange.
• The National Securities Depository Limited has similarly prescribed
that all the branches of the depository participants must have at
least one person who has qualified the NCFM module on
Depository Operations.

• SEBI recommends Surveillance Module for the officers working in

surveillance departments of stock exchanges.

• SEBI has made it mandatory for all mutual funds to appoint

agents/distributors who have obtained certification in AMFI -
Mutual Funds Modules. The existing and new employees of mutual
funds, particularly those who are involved in sales and marketing,
are encouraged to pass the certification in AMFI - Mutual Funds
Modules.
1- Financial Markets: Beginners Module

This is a basic level programme for those who wish to either begin a
career in the financial markets in India or simply learn the fundamentals
of capital markets. The course is structured to help understand the basic
concepts relating to different avenues of investment, the primary and the
secondary market, the derivatives market and financial statement
analysis.

Why should one opt for this course ?

To get a basic understanding of the products, players and functioning of

financial markets, particularly the capital market.

Test Details :-

Duration: 120 minutes

No. of questions: 60

Maximum marks: 100, Passing marks: 50 (50%); There is no negative

marking in this module.

Certificate validity: For successful candidates, certificates are valid for 5

years from the test date.

Fees:-

Rs. 1,500/- (Rupees One Thousand Five Hundred Only).

Course Outline:-

• Markets and Financial Instruments

Types of Markets: Equity, Debt, Derivatives, Commodities;

Meaning and features of private, public companies; Types of
investment avenues.
• Primary Markets

Initial Public Offer (IPO); Book Building through Online IPO;

Eligibility to issue securities; Pricing of Issues; Fixed versus Book
Building issues; Allotment of Shares; Basis of Allotment; Private
Placement.

• Secondary Markets

Role and functions of Securities and Exchange Board of India

(SEBI); Depositories; Stock exchanges; Intermediaries in the
Indian stock market; Listing; Membership; Trading; Clearing and
settlement and risk management; Investor protection fund (IPF);
and Do’s and Don’ts for investors, Equity and debt investment.

• Derivatives

Types of derivatives; Commodity and commodity exchanges;

Commodity versus financial derivatives.

• Financial Statements Analysis

Balance sheet; Profit & loss account; Stock market related ratios;
Simple analysis before investing in the shares; understanding
annual report; Director’s report etc.
2 - Currency Derivatives: A Beginner’s Module

This module has been designed with a view to improve awareness about
the ‘Currency Derivatives’ product, which has been made available for
trading in the Indian securities market in 2009. The course content is
structured to help a beginner understand what the product is, how it is
traded and what uses it can be put to.

Why should one take this course?

• To understand the fundamentals of the currency market.

• To understand the currency futures as a risk management tool.
• To learn about the trading platform of the currency derivatives
segment of a stock exchange.

Who will benefit from this course?

• MBA Finance Students.

• Teachers
• Bankers
• Corporate Executives
• Employees of Export/Import Houses
• Analysts
• Employees of Brokers and Sub-brokers
• Anybody having interest in the Indian Securities Market

Test details

Duration: 120 minutes

No. of questions: 60

Maximum marks: 100, Passing marks: 50 (50%); There is no negative

marking in this module.

Fees

Rs. 1,500/- (Rupees One Thousand Five Hundred Only).

Course outline

• Derivatives as a Risk Management Tool

Concept of risk; Risk management; Types of traders in the

derivatives markets

• Currency Markets

Exchange rate; Fixed and floating exchange rate regime; Factors

affecting exchange rates; Concept of quotes; Tick-size; Spreads;
Spot transaction and forward transaction

• Currency Futures

Forward contracts; Futures contracts; Pricing of futures contracts

• Strategies using Currency Futures

Hedging, speculation and arbitrage in currency futures

• NSE’s Currency Derivatives Segment

Product definition; Trading underlying versus trading futures; Uses

of currency futures at NSE

• Trading, Clearing, Settlement and Risk Management

Membership; Future contract specifications; Trading system; The

trader workstation; Basis of trading; Client-Broker relationship in
derivatives segment; Clearing entities; Position limits; Margins;
Settlement of contracts
3 - Capital Market (Dealers) Module

This module discusses the operational aspects of the equity market,

namely, trading, clearing and settlement. It also discusses the
membership in stock exchanges. The growing popularity of this module
has initiated NSE to make the tests available to candidates in other
languages such as Gujarati and Hindi.

Why should one take this course?

• To understand the capital market trading operations of NSE.

• To understand the clearing, settlement and risk management
processes.
• To know about the eligibility criteria for seeking membership at
NSE.
• To learn the other important regulatory aspects.

Who will benefit from this course?

• Employees of Stock Brokers and Sub-Brokers

• MBA Finance Students.
• Teachers
• Employees of BPO/IT Companies
• Investors
• Anybody having interest in the Stock market operations

Test details

Duration:105 minutes

No. of questions: 60

Maximum marks: 100, Passing marks: 50 (50%); There is negative

marking for incorrect answers.

Fees

Rs. 1,500/- (Rupees One Thousand Five Hundred only).

Course outline

• An Overview of the Indian Securities Market

Introduction - Market segments, products and participants; Primary

Market; Secondary Market; Derivatives Market; Market Design -
Primary Market, Secondary Market, Derivatives Market; Reforms
in securities market

• Trading

Concept of Trading System; Functionalities of NEAT system;

Order management; Trade management; Auction; Limited physical
market; Retail debt market (RDM); Internet broking and Wireless
application Protocol (WAP).

• Clearing and Settlement

Clearing and settlement mechanism; Securities & Funds

Settlement; Risk Containment Measures; International Securities
Identification Number; Dematerialization and Electronic Transfer of
Securities; Investor Protection Fund; Clearing Software-Data and
Report Download.

• Trading Membership

Stock Brokers; Membership in NSE; Sub brokers; Authorised

persons; Broker-client relations; Sub-broker-client relation;
Dispute, arbitration and appeal; Code of advertisement for trading
members.

• Legal Framework

Securities Contracts (Regulation) Act, 1956; Securities Contracts

(Regulation) Rules, 1957; Securities and Exchange Board of India
Act, 1992; SEBI (Intermediaries) Regulations, 2008; SEBI (Insider
Trading) Regulations, 1992; SEBI (Prohibition of Fraudulent And
Unfair Trade Practices Relating to Securities Markets)
Regulations, 1995; The Depositories Act, 1996; Indian Contract
Act, 1872; The Companies Act, 1956; and Income Tax Act, 1961,
Money Laundering Act, 2002
• Fundamental Valuation Concepts

Elementary statistical concepts; Coefficient of variation;

Covariance; Correlation coefficient; Normal distribution; Time value
of money; Understanding financial statements.
4 - Investment Analysis and Portfolio Management

Investment Analysis and Portfolio Management is a growing field in the

area of finance. This module aims at creating a better understanding of
the various concepts/principles related to investment analysis and
portfolio management.

Why should one take this course?

• To have a practical orientation towards the principles of

investment, pricing and valuation
• To learn the various methodologies of financial analysis
• To understand the various investment products such as fixed
income securities, equities, derivatives etc.

Who will benefit from this course?

• Students of Management MBA-Finance Students, and Commerce

Finance Professionals
• Employees with Treasury & Investment division of banks and
financial institutions
• Anybody having interest in this subject

Test details

Duration: 120 minutes

No. of questions: 60

Maximum marks: 100, Passing marks: 60 (60%); There is negative

marking for incorrect answers.

Fees

Rs. 1,500/- (Rupees One Thousand Five Hundred Only).

Course outline

• Objectives of Investment Decisions

Introduction; Types of Investors; Constraints; Goals of Investors.

• Financial Markets

Introduction, Primary and Secondary Markets; Trading in

Secondary Markets; Money Market; Repos and Reverse Repos;
Bond Market; Common Stocks.

• Fixed Income Securities

Introduction-Time Value of Money; Simple and Compound Interest

Rates; Real and Nominal Interest Rates; Bond Pricing
Fundamentals; Bond Yields; Interest Rates; Macaulay Duration
and Modified Duration.

• Capital Market Efficiency

Introduction; Market Efficiency.

• Financial Analysis and Valuation

Introduction; Analysis of Financial Statements; Financial Ratios

(Return, Operating and Profitability Ratios); Valuation of Common
Stocks; Technical Analysis.

• Modern Portfolio theory

Introduction; Diversification and Portfolio Risks; Equilibrium

Models: The CAPM; Multifactor Models: The Arbitrage Pricing
Theory

• Valuation of Derivatives

Introduction; Forwards and Futures; Call and Put Options; Forward

and Futures Pricing; Option Pricing; Black- Scholes Formula
• Investment Management

Introduction; Investment Companies; Active vs. Passive Portfolio

Management; Costs of Management – Entry/Exit Loads and Fees;
Net Asset Value; Classification of Funds; Other Investment
Companies; Performance Assessment of Managed Funds
5 - Commodities Market Module

The aim of this module is to provide beginners as well as the dealers

with both theoretical and applied knowledge pertaining to commodities
trading. The module is beneficial for those who wish to pursue careers in
brokerage firms dealing in commodity derivatives. This module has been
developed jointly by NSE and NCDEX.

Why should one take this course?

• To understand the difference between commodity and financial

derivatives.
• To know the usage of commodity futures.
• To understand the pricing mechanism of commodity futures.
• To learn about the NCDEX trading platform, clearing and
settlement operations.
• To know the regulatory framework and taxation aspects of the
commodities market.

Who will benefit from this course?

• MBA Finance Students.

• Teachers
• ommodity Market Dealers
• esearchers
• Employees of BPO/IT Companies
• Anybody having interest in the Commodities Market

Test details

Duration: 120 minutes

No. of questions: 60

Maximum marks: 100, Passing marks: 50 (50%); There is negative

marking for incorrect answers

Fees

Rs. 1,800/- (Rupees One Thousand Eight Hundred Only).

Course outline

• Introduction to Derivatives

Introduction to Derivatives; types, Products, participants and

functions; Exchange–traded versus OTC derivatives.

• Application of Futures & Options

Types of instruments (future, options)-Basics and Payoffs; Pricing

commodity derivatives; Hedging, Speculation and Arbitrage

• Commodity Derivatives

Difference between commodity and financial derivatives; Global

and Indian commodities exchanges; Evolution of commodity
market in India.

• NCDEX Platform

Structure of NCDEX; Exchange membership; Capital

requirements; Commodities traded on NCDEX platform;
Instruments available for trading; Pricing of commodity futures;
Trading; Clearing, Settlement and Risk Management;Use of
commodity futures in hedging, speculation and arbitrage.

• Regulatory Framework & Taxation aspect

Rules governing commodity derivatives exchanges;

Intermediaries, Investor grievances and arbitration, Implications of
sales tax.
6 - Demat:- NSDL- Depository Operations Module

An efficient depository is critical to the efficient functioning of the capital

market. This module provides deep insight into the functioning of the
depository and outlines the various operational issues. It has been
mandated by the National Securities Depository Limited (NSDL) (which
is one of the depositories in India), that all branches of depository
participants must have at least one person qualified in this certification
programme. This module has been jointly developed by NSE and NSDL.

Why should one take this course?

• To understand the rationale for a depository.

• To know about the services provided by a depository.
• To understand the processes involved in a depository’s
functioning.
• To understand the NSDL application software.

Who will benefit from this course?

• Staff of the Depository Participants

• MBA Finance Students.
• Teachers
• Bank Employees
• Investors
• Candidates seeking to make a career in depository operations
• Anyone interested in gaining knowledge about the depository
participants operations.

Test details

Duration: 75 minutes

No. of questions: 60

Maximum marks: 100, Passing marks: 60 (60%). There is negative

marking for incorrect answers. Candidates securing 80% or more marks
in NSDL-Depository operations module only will be certified as
‘TRAINERS’.

Fees

Rs. 1,500/- (Rupees One Thousand Five Hundred Only).

Course outline

• Overview of the Capital Market

Overview of relevant laws and regulations; the primary and the

secondary market and the capital market intermediaries

• Overview of NSDL

Organizational structure of NSDL, Features of the depository

system, Legal framework; Bye-Laws & business rules of NSDL,
NSDL system & connectivity

• Business Partners of NSDL

The different business partners of NSDL, Joining procedure/steps,

services; Records and reconciliation, rights & obligations; NSDL
application software, the hardware requirements of business
partners, the service standards, Benefits & safety

• Services Offered by Depository

Account opening of beneficiaries; Clearing members and

intermediaries; Transmission & nomination; Dematerialization and
rematerialization; Trading & settlement; Off-market transfers; Pay-
in and pay-out procedures; Settlement of trades and precautions;
Internet initiatives by NSDL.

• Special Services

Pledging/ Hypothecation; Securities Lending & Borrowing;

Corporate actions; Public issues; Debt instruments and G-
Securities; NSC/KVP in Demat form; MAPIN and TIN
7 - AMFI-Mutual Fund (Advisors) Module

The module is designed to address the specific needs of mutual fund

distributors and advisors. The aim is to ensure that these distributors
advise the investment community appropriately. It is mandatory for
agent-distributors and all those engaged in the marketing and selling of
mutual funds schemes.

AMFI- Mutual Fund (Advisors) Module is currently available in English,

Gujarati and Hindi languages. The workbook for the module, which is
available for a fee at AMFI, remains in English but the online test is
conducted in Gujarati and Hindi languages also.

Why should one take this course?

• To understand concept of financial planning and various

strategies.
• To know about the model portfolio and how to select the right
funds.
• To understand the risks in fund investing.
• To learn about the business ethics for mutual funds.

Who will benefit from this course?

• MBA Finance Students.

• Teachers
• Investors
• Mutual fund advisors and distributors engaged in marketing and
selling of mutual funds
• Employees of corporate intermediaries
• Financial Planners
• Bank Employees

Test details

Duration: 120 minutes

No. of questions: 72

Maximum marks: 100, Passing marks: 50 (50%); There is negative

marking for incorrect answers.
Fees

Rs. 1,000/- (Rupees One Thousand Only).

Curriculum

• Financial Planning

Financial planning - definition, scope and need, Role of financial

planner, Benefits of financial planning.

• Recommending Financial Planning Strategies to Investors

Financial planning strategies, Asset allocation.

• Selecting the Right Investment Products for Investors

Products available in India, Comparison based on return, safety,

liquidity, convenience.

• Helping Investors Understand Risks in Fund Investing

Awareness of risks in mutual fund investing.

• Recommending Model Portfolios and Selecting the Right

Funds

Developing a model portfolio; Helping the investor choose a fund

based on yield, load, annual total return; Portfolio diversification;
Risk level; Long term track record; Services provided and
management expertise.

• Business Ethics for Mutual Funds

Understanding business ethics; Business ethics and fund

regulation in India and US.
8 - Financial Modeling Module

The business of Financial Research and Modeling has changed

significantly in the past few years. While financial modeling activity was
primarily done by investment banks for their in-house requirement, due
to regulatory measures and cost pressures Financial Modeling and
Research is now a profit center business run independently by
specialized Financial Research firms. Many of these financial research
firms are new and are located in India.

The Financial Modeling Program developed by IMS Proschool - a

leading education service provider in India, is designed to impart the
following skills in Financial Research:

1. Investment Banking Fundamentals (Accounting, Economics,

Financial Management, Financial Markets)
2. Excel Proficiency
3. Financial Modeling

Who should do the Financial Modeling Program of IMS Proschool?

Candidates with following educational background interested in working

for Financial Research firms based in India:

1. Commerce Graduate with Excellent Accounting Skills

2. CA Inter (and above) passed
3. ICWA
4. Graduates/Post Graduates in Economics with first class
5. MBA's Finance with excellent accounting skills

IMS Proschool Programs:

You can opt for:

1. Distance Learning Program - Study Material will be provided online.
2. Classroom Program – Currently available in Mumbai, Pune, Kolkatta

At the end to the course the candidates will have to appear for the
certification exam. The examination comprises of multiple choice
questions which will have to be answered based on a case provided.
Who can appear for the certification exam?

Only those candidates who have successfully completed the Financial

Modeling Program with IMS Proschool can appear for the certification
exam.

When is the examination conducted?

Exams are normally conducted four times in a year (May, Aug, Nov,
Feb). Candidates must complete the education i.e. Financial Modeling
Program of IMS Proschool 45 days prior to the examination date for
becoming eligible.

How to enrol for IMS Program?

1. Apply online at
http://proschool.imsindia.com/Investment_Banking.htm
2. Download the Application Form from the website and send the
duly filled Application Form to IMS Proschool.

For more information download E-prospectus & Application Form OR

visit http://proschool.imsindia.com/Investment_Banking.htm
9-Chartered Financial Analyst (CFA )

A professional designation given by the CFA® Institute, USA (formerly known as the
Association for Investment Management and Research -AIMR) that measures the
competence and integrity of financial analysts.Candidates are required to pass three
levels of exams covering areas such as accounting, economics, ethics, money
management and security analysis.

CFA is a graduate-level program offered by CFA institute, USA.The candidate is required

to study for and pass three levels exams in a sequential order® and meet other requirements
to become the CFA charter.

Why CFA ?

A CFA certificate is one of the highest awards conferred in the

investment industry. It is an internationally recognized designation.
Chartered Financial Analysts work for investment banks, mutual fund
firms,® hedge funds, brokerage houses, boutique money managers. The
CFA designation represents the definitive mark of a competent financial
analyst bound to the highest standards of ethical behavior. There are
approximately 100000 charter holders world wide.

Who should do CFA ?

• If you're interested in portfolio management, investment research,

advisory services, or investment banking, then ® CFA is an option
that you must consider. Employers across ® the globe know the
value of the CFA charter and recognize ® the CFA charter as the
standard of professional ® excellence. Therefore, CFA gives you
the edge and the advantage in the global employment market.
Added advantage to MBA Finance Students.

Who hires CFA charterholders?

Investment Companies/Mutual Funds 25 %
Broker-Dealer/Investment Banks 16 %
Private Client Wealth Manager/Advisor 07 %
Hedge Funds/Funds of Hedge Funds 11 %
Insurance Companies 06 %
Pensions and Foundations 04 %
Other (Consultancy, Government/Regulators 29%
Academia, Other)
Average CFA Salary

A Chartered Financial Analyst's (CFA ) salary will obviously vary based upon job
type, years of experience, employer type, and various other factors. The best way to
get a feel for a Chartered Financial Analyst's salary is to use averages within those
broad fields not taking into account company size, experience, skills, degree, or
location. Using information gathered from pay scale .com, the range of median
based upon job type is from $61,209 for a corporate financial analyst to $145,820 for
a chief financial officer. In India the pay scales range from Rs. 4 lakhs for a financial
analyst to Rs. 8.25 lakhs for senior financial analyst.

For more details log on to https://www.cfainstitute.org./

www.imsindia.com/proschool
10-CERTIFIED FINANCIAL PLANNERCM (CFP)

Highest Level of Certification globally in the field of Financial Planning. Certified

Financial PlannerCM Certification is an internationally accepted Financial Planning
qualification. The qualification is recognized in more than 20 countries across the
world. In India, the Certification is granted by Financial Planning Standards Board
(FPSB India).The qualification gears candidates to provide comprehensive financial
advisory services to individuals. It covers insurance, retirement planning, investment,
taxation and estate planning. For those looking for a career in the financial services
sector, CFPCM Certification provides a definite edge over other candidates. One's
expertise and credibility as a qualified professional is instantly communicated if
he/she has a CFPCM Certification. The services of CFPCM Certificants are sought by
Banks, Asset Management Companies, Insurance Companies, Equity Broking
Houses and Financial Planning firms.There are currently over 1,00,000 CFPCM
Certificants worldwide and around 450 + CFPs in India. As per industry estimates,
the requirement for financial advisors will be approximately 50000 in the coming
years.

Requirements for CFPCM Certification

There are two ways to obtain CFPCM Certification:

1. Regular Way
2. Challenge Status for professionals

Both require candidates to fulfill certain criteria for acquiring CFPCM Certification.

Requirements for Regular way

1. Education: Candidate must be at least a 12th Std Pass/Equivalent. The

candidate should undergo the training program with FPSB India’s approved
Education Providers. Education criterion demonstrates to the public that the
candidate has acquired the necessary knowledge to become a Financial
Planner.
2. Examination: The candidate has to pass the CFPCM certification exam i.e. he
has to clear all the five papers viz. Risk Management & Insurance Planning,
Retirement Planning & Employee Benefits, Investment Planning , Tax
Planning & Estate Planning and Advanced Financial Planning. By passing
the CFPCM Certification Examination, the candidate demonstrates to the
public that he/she has the required level of competency to practice Financial
Planning.

3. Ethics: On completion of the education, examination and experience

requirements, the candidate has to sign declaration for adherence to FPSB
India’s Code of Ethics & Rules of Professional Conduct.
4. Experience: The experience criterion builds confidence in public that the
candidate understands the counseling nature of personal financial planning.
The candidate has to complete 3 years of work experience either pre or post
Certification exam in case he/she is a graduate. In case of non graduates the
criteria is six years of work experience.
Requirements for Challenge Status

Students who are already professionals for example Chartered Accountants, MBAs,
ICWA, etc and are interested in acquiring the CFPCM certification can do so in a
shorter span. FPSB India recognizes that these professionals already have some of
the skill sets that are required in a Financial Planner. Hence, it has introduced the
“Challenge Status Program” which enables professionals (both in terms of education
as well as experience) to acquire the CFPCM Certification in a more time efficient
manner.

1. Education: A candidate must be a CA, CFA (US), ICWA, CAIIB, CS, LLB,
PhD, M.Phil, PG, Licentiate/ Associate/ Fellowship of Life Insurance, Actuary,
FFSI & FLMI from LOMA, Civil Service Examinations by UPSC.

2. Examination: The candidate has to clear only Paper 5 i.e. the Advanced
Financial Planning paper. .

3. Experience: The candidate should have work experience of 3 years in

Financial Services Industry prior to the CFPCM Certification Exam. In case the
candidate is working in a Non- Financial Industry the work experience should
be 5 years prior CFPCM certification exam.

4. Ethics: On completion of the education, examination and experience

requirements, the candidate has to sign declaration for adherence to FPSB
India’s Code of Ethics & Rules of Professional Conduct

Huge Demand Supply gap for CFP Professionals in India

• India has 1,000+ CFP Certificants for a population of 1200 million
Versus

• 58,830 CFP Certificants in US (250 million Population)

• 17,230 CFP Certificants in Canada (60 million population)

• 15,802 in Japan (120 million population)

Against other Financial Services Intermediaries in India

• 20 Lakh+ Life Insurance Agents

• 50,000+ Mutual Fund Advisors

• 25,000 + Bank Branches , 5,000+ Insurance Services Branches and 10000+

Brokerages Service Branches.

For more details ,log on to www.imsproschool.com and www.fpsb.co.in

11- IFRS

What is IFRS ?
By 2011, India will shift from the Generally Accepted Accounting Principals (GAAP)
to International Financial Reporting Standards.

Ensure that your team gets a head start and make the transition smooth and easy.
Move seamlessly from existing accounting standards to the globally accepted IFRS.
Sign up for IMS Proschool or NIIT Imperia’s Advanced Certificate Program on IFRS
– Implementation and Compliance, conducted by KPMG and make sure your team is
ready when the change is implemented. The program has been specially designed
for senior finance professionals and practicing CAs, CS or CWA consultants.

Case-studies and live corporate examples covered during the course of the program
will train your team to adapt and advance within the changed scenario.

While the MCA has given a phased roadmap to IFRS convergence, progressive
companies are trying to get a head start as the convergence process not only
requires training people, but also requires accounting software and systems to be
changed, so they are compatible with the new standards.

• International Financial Reporting Standards

• Set of international accounting standards stating how particular
types of transactions and other events should be reported in
financial statements.
• Standards and Interpretations issued by IASB.

What is IASB ?
The International Accounting Standard Board is an independent, private-sector body
that develops and approves International Financial Reporting Standards. The IASB
operates under the oversight of the International Accounting Standards Committee
Foundation (IASCF).The IASB was formed in 2001.

Why IFRS ?

• India is one of the over 100 countries that have or are moving towards IFRS
with a view to bring uniformity in reporting systems globally, enabling
businesses, finances and funds to access more opportunities.
• Indian companies listed on overseas stock exchanges have to recast their
accounts to be compliant with GAAP requirements of those countries.
• Foreign companies with subsidiaries in India have to recast their accounts to
meet Indian & overseas reporting requirements which are different.
• FDI and FII are more comfortable with compatible accounting standards and
companies accessing overseas funds feel the need for recast of accounts in
keeping with globally accepted standards.
• ICAI has decided to implement IFRS in India. The Ministry of Corporate
Affairs has also announced its commitment to convergence to IFRS by 2011
Who will it benefit?

• CFOs, Finance Directors and Strategic Planners.

• Accountants, Analysts, Auditors and Tax Directors.
• Investment Bankers, Corporate Bankers.
• Private Equity & Merger & Acquisition specialists.
• Consultants practicing CA, CS, CWA.
• Professionals from Indian companies with a global presence.
• MBA Finance Students.

Why should you enrol for the program?

1. Get an in-depth analysis of accounting and disclosure requirements under IFRS.

2. Make the transition from Indian GAAP to IFRS conveniently.
3. Learn using case studies and live corporate examples.
4. Delivered by experienced KPMG professionals in India.

What will you be able to do by the end of the program?

1. Seamlessly move from existing accounting standard to the globally accepted

IFRS.
2. Restate Financial Statements and maintain books as per IFRS.

ELIGIBILITY

The following qualifications are required to sign up for the program:

• Graduates with minimum 2 years of experience are eligible to join the

program.
• Experience requirement is waived off for CA, CS, MBA(Finance), CWA’s and
for corporate nominations

Fees:

Program Fee: Rs. 40,000/- (inclusive of all taxes)

For more details ,visit www.imsproschool.com or

http://programs.niitimperia.com
12- EQUITY RESEARCH MODULE

There are over 8000 stocks in India and over 20 different industries and
classifications. As local financial markets get increasingly interlinked with global
markets, understanding the stock market movements and deciding which stock to
invest in, has become bewildering. Who can the investor rely on? Well, equity
research analysts are the answer.

Equity research involves gathering relevant information about a company, analyzing

it, and coming up with a recommendation that investors and Financial Institutions
can use for decision making purposes.

It is a respected and admired profession, as these are the people behind the scenes,
whose recommendations result in investment decisions worth millions of dollars
globally, in the capital markets.

What does this course cover?

This course takes you through the entire analysis process in detail and gives you a
lot of practical insights and tricks of the trade. This covers both qualitative and
quantitative analysis in detail using a live case. It also covers the basic valuation
techniques used by research analysts in practice.

This course will equip you with the necessary knowledge of:

• analyzing a company step by step

• asking the right questions in an analyst call to better understand the company
and management.
• identifying the warning flags amongst the information provided by a company.
• preparing a comprehensive, high quality research report that investors can
rely on.

This course requires you to complete the e-learning training of Finitiatives

Learning India Pvt. Ltd./FLIP (www.learnwithflip.com).

FLIP offers a range of high quality, award winning e-learning programs across the
range of Banking & Financial Services (BFS), both for fresh graduates/post
graduates, and working professionals.

Who should do FLIP’s Equity Research program?

The course is suitable for candidates with the following qualifications:

1. MBAs ( Finance) / CAs

2. Graduates/Post Graduates with some experience in the capital markets area.
3. Other working professionals looking to move into equity research.
In terms of role suitability, this course is relevant for people looking to join the equity
research division of a Financial Institution, Mutual Fund or Brokerage firm.

Enrolment Process:

Remember, you need to complete Flip’s training and then undergo NCFM’s testing
process. Hence, you need to register with both FLIP and NSE. Just follow these
simple steps:

Register to get your NCFM registration number. If a security warning pops up,
just continue. If you need help registering,
1
You can skip this step if you already have an NCFM registration number.
New to FLIP?
Already registered with FLIP?
2 Click to reach Flip’s site, and 2
Click to reach FLIP’s site and LOGIN
register
Activate your account by clicking Choose ‘Buy Now’ from the tabs on
3
on the link in your email 3 the top, and click on the ‘FLIP-NSE’
4 Choose FLIP-NSE link on the top of the product matrix
Choose your course and
5 4 Choose your course and purchase*
purchase*

Note:
*You can purchase the courses online via debit/credit card or netbanking; or via
cash/cheque at any Axis Bank branch across India.

Pricing and What You Get:

Flip
NCFM
Training What you get What you get
Certification
• High quality e-learning
access for 2 months.
• Write the certification
• Courses written by
exam at NCFM
practitioners –senior IIM
centers across India,
alumni.
on any available
• Access to faculty
date.
support, user forums &
Rs.
regularly updated Rs. 1,500
2,500 • An industry
content.
recognized NCFM
• Access to job posts
Certification in Equity
from our partners: India
Research, which is
Infoline, HDFC Bank,
valid for two years.
Axis Bank, Kotak Bank,
etc.
Note : You need to pay for the Flip training first, at the time of purchase of the
course. You will be directed to pay for the NCFM certification exam thereafter, at the
time of booking the date.

For more information, call FLIP at 092436-66002 or email [email protected]

13-Financial Services Marketing

The business of Banking and Broking has changed significantly in the past few
years in India. There are over 50,000 branches providing banking and broking
services to customers. The focus of activities in these branches is on building
effective relationships with customers and enhancing cross selling opportunities.

The Financial Services Marketing Program developed by IMS Proschool - a leading

Financial Services education provider in India, is designed to impart the following
skills:

1. Gain Skills to compare Financial Products

2. Understand Customer Need for Financial Products
3. Understand Customer Decision Making Process While choosing Financial
Products
4. Increasing Cross Selling Opportunities with exisiting customers

Who should do the Financial Services Marketing Program of IMS

Proschool?

Candidates with following educational background interested in working for Banks

and Securities Trading Institutions based in India:

1. Commerce Graduate looking to specialise in Marketing

2. Graduates working in Banks and Brokerages
3. Graduates working in other than Finance Sector and wishing to shift to
Financial Services
4. MBA's Looking for Jobs in Financial Services

IMS Proschool Programs:

You can opt for:

1. Distance Learning Program - Study Material will be provided online..
2. Classroom Program – Currently available in Mumbai, Pune, Chennai, Bhopal,
Trivandrum, Gandhinagar.

At the end to the course the candidates will have to appear for the certification
exam.The examination comprises of multiple choice questions which will have to be
answered based on a case provided.
Who can appear for the certification exam?

Only those candidates who have successfully completed the Financial Services
Marketing Program with IMS Proschool can appear for the certification exam.

When is the examination conducted?

Exams are normally conducted four times in a year (June, Sep, Dec, Mar).
Candidates must complete the education i.e. Financial Services Marketing Program
and complete the Sales Workshop of IMS Proschool 45 days prior to the
examination date for becoming eligible for the final Certification.

How to enrol for IMS Program?

1. Apply online at www.proschoolonline.com

2. Download the Application Form from the website and send the duly filled
Application Form to IMS Proschool Pvt Ltd, Maharashtra High School
Complex, Principal N.M. Kale Marg, Gokhale Rd, Dadar (W), Mumbai 400
002. Ph 09372895050

For more information click on the link www.proschoolonline.com

14- Commercial Banking in India : A Beginner's Module
This module aims at familiarizing the candidates with the fundamentals of
o banking
and provides some basic insights into the policies and practices followed in the
Indian banking system.

Why should one take this course?

• To learn the fundamentals of banking.

• To improve one's awareness of the policies and practices in the Indian
banking sector.
• To be familiar with banking services available in India.

Who will benefit from this course?

• Students aspiring for banking as a career

• Bankers
• Employees of Call Centres / BPOs of Banks
• Teachers of financial courses
• Anybody having interest
inter in the area of banking.

Test details

Duration: 120 minutes

No. of questions: 60

Maximum marks: 100, Passing marks: 50 (50%); There is no negative marking in

this module.

Certificate validity: For successful candidates, certificates are valid for 5 years
y from
the test date.

Fees
Rs. 1,500/- (Rupees One Thousand Five Hundred Only).

Course outline
Introduction
Banking Structure in India
Bankk Deposit Accounts
Basics of Bank Lending
Bank Investments
Other Activities of Commercial Banks
Relationship between Banks and Customers
Dear Students,

These are the various exams which can be clear in very short time
period .Moreover, it will add value to your resume .So, just give a
thought about your future career and accordingly you can choose the
exam . I would be very happy to give you guidance about these exams.
So, I hope you will reap the benefit of this initiative.

Prof.Mahesh Renguntwar

E-mail:- [email protected]

Suryadatta Group of Institute,Pune.