THE CFA CHARTER

İlke Takımoğlu Homriş, CFA Alper Alkan, CFA Executive Director Treasurer CFA Society of İstanbul CFA Society of İstanbul 7 December 2017

THE CFA® CHARTER

İlke Takımoğlu Homriş, CFA

Executive Director, CFA Society of İstanbul

1 October 2016

THE CFA CHARTER

- Graduate-level investment credential

- Held by more than 140,000 individuals in 154 countries

- More than 425 universities around the world incorporate

the CFA curriculum into their degree programs

- Recognized by regulatory bodies in many countries as a

proxy for meeting certain licensing requirements,

including Turkey’s Capital Markets Board.

To lead the investment profession globally by promoting the

highest standards of ethics, education, and professional

excellence for the ultimate benefit of society.

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Educated, ethical

investment professionals

Financial markets that reflect CFA

Institute beliefs

Global financial markets that

serve the public interest

“I wanted a globally recognized qualification that would prove my competency.”

Nina de Martins-Majstorovic,

CFA

Paris, France

21%

EMEA

Members: 30,900

CFA Program

Registrations: 44,900

Societies: 40

61%

AMERICAS

Members: 88,900

CFA Program

Registrations: 70,300

Societies: 89

18%

ASIA PACIFIC

Members: 25,600

CFA Program

Registrations: 108,300

Societies: 19

More than

140,000

members

in over 150

countries;

148 member

societies

MEMBERSHIP, CANDIDATES & SOCIETIES

TURKEY

Members: 300*

CFA Program

Registrations: 800** *CFA Society Istanbul current Fig.

**FY2017 CFA Institute Figures

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CFA® PROGRAM

CFA INSTITUTE PROGRAMS

CFAI® Investment

Foundations

Essentials of finance,

ethics, and investment

roles, providing a clear

understanding of the

global investment

industry.

One exam

No experience

required

CIPM® Program

Investment

performance and risk

evaluation; risk

management; financial

planning; manager

search and selection;

investment analysis;

and client relations.

Two exams

Two years of

professional experience

CFA® Program

Investment decision-

making and strategy;

portfolio and wealth

management;

institutional investing;

and investment

analysis.

Three exams

Four years of

professional experience

See program details at www.cfainstitute.org/programs

WHAT YOU LEARN AS A

CFA CHARTERHOLDER

• Investment (equity and fixed income) analysis

• Portfolio management

• Wealth planning

• Economic theory

• Alternatives and derivatives

• Performance measurement & evaluation

• Risk management

• Financial reporting

• Quantitative methods

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WITH THE CFA CHARTER, YOU…

• Develop a comprehensive investment perspective

• Gain fluency in practical investment analysis and management skills

• Demonstrate a commitment to ethics and professional standards

• Earn credibility with industry peers

• Become part of a global community of top industry professionals

• Gain the flexibility to work in any market

• Are sought out by top industry employers

WHAT CAN I DO WITH THE CFA CHARTER? Charterholder employment by title

0% 5% 10% 15% 20% 25% 30% 35%

Other (e.g., Investment Banking Analyst,Accountant/Auditor, Trader)

Risk Manager

Corporate Financial Analyst

Relationship Manager

Financial Adviser

Consultant

Chief-Level Executive

Research Analyst

Portfolio Manager

Note: This content is accurate as of March 2014.

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MEMBERS WORK FOR…

Banks and Credit Unions

Investment Firm

Consulting Firm

Institutional Asset Management

Investment Bank

Financial Planner/Investment

Advisers

Mutual Fund Management

Investment Fund

Insurance

Securities Brokerage

Hedge Fund Management

Government/Regulator

13%

3%

10%

10%

10%

8%

6%

4%

4%

4%

3%

3%

A PRACTICE-DRIVEN PROCESS

A RICH HISTORY – 1st EXAM !!! 1963

Image courtesy of Rip Payne

DEMAND FOR THE CFA CHARTER

Candidate exam registrations

0190001900r1l

9190001900r4l

18190001900r7l

26190001900r10l

3190101901r2l

14190101901r5l

22190101901r8l

30190101901r11l

10190201902r3l

18190201902r6l

.0

50000.0

100000.0

150000.0

200000.0

250000.0Global Turkey

THE MODERN EXAM

THE CFA EQUATION

Bachelor’s degree or in final year of bachelor’s

Level I, II, III Exams

4 years work

experience

CFA Charter

THREE LEVELS OF CFA PROGRAM EXAMS

%49

%15 %10-15

%29

%7

%30-55 %35-70

%7 %10-15

%25-65

%40-55

EXAMINATIONS

Level Format Grading Process Typical Number of

Questions

I

June/

Dec

Multiple Choice Machine graded;

Extensive sampling

240 Questions (120 in

a.m. and 120 in p.m.)

II

June

Only

Item Sets cases — 6

related multiple choice

questions

Machine graded;

Extensive sampling

20 Item Sets

(10 in a.m. and 10 in

p.m.)

III

June

Only

Constructed Response

(essay) Item Sets Item Sets — Machine

graded; extensive

sampling

Constructed Response

Graded by teams of

charterholders

Variable number of

constructed response

questions

ENROLLMENT DETAILS — JUN 2018 EXAM

The exam registration fee covers the cost of:

• The eBook (contains the complete curriculum you need to study)

• An interactive study planner to guide and track your exam preparation

• Topic-based practice tests

• Mock exams

• A mobile study app with access to everything listed above

Early

Registration

Standard

Registration

Late

Registration

Deadline

27 Sep 2017

14 Feb 2018

14 Mar 2018

Fee

$650

$930 $1,380

One off enrollment fee $450 (only payable once)

ACCESS

SCHOLARSHIPS

SCHOLARSHIPS

AWARENESS

SCHOLARSHIPS

Schweser - CFA Society

Istanbul Scholarship

Access scholarships provide

needs-based scholarship

opportunities for those unable

to afford the full price of

the CFA Program enrolment

and registration fees.

Awareness scholarships are

offered to key influencers in

the media, academic, and

financial communities, such as

college/university faculty, college

students affiliated with our

Recognized Universities and CFA

Program Partner schools,

regulatory agencies, and media

organization employees

around the world. There is also a

separate women scholarship.

The awarded Candidates will

choose one of the below

scholarship products.

A – Schweser Notes Pack and

SchweserPro Qbank (online

version + a one time download)

B – 16-Week Online Class

w/Workbook and Class Archives

C – Schweser's Final Review

Pack

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TIPS AND MYTHS

TOP 10 EXAM TIPS

1. Start early, create a schedule, and prepare for about 300 hours

2. Study the Learning Outcome Statements (LOS)

3. Practice using end-of-reading question, mock exams, and sample exams

4. Rest the day before the exam

5. Show up on exam day and answer all questions.

6. Listen carefully to announcements and pre-exam day communications

7. Watch your time and pace yourself

8. Stay calm

9. Get the ethics right

10.Tell your friends and family about your commitment to the CFA program

TOP 10 EXAM MYTHS (NOT TRUE!)

1. The question writers look at what prep courses are saying and test the opposite.

2. The question writer is trying to trick me.

3. Questions that nearly everyone got right and wrong are thrown out.

4. The CFA Program assumes markets are efficient.

5. You must finish the program within a certain time frame, so you must take the

exams in consecutive sittings.

6. A month is plenty of time to study.

7. I do not need to read the assigned curriculum – I already do this stuff at work.

8. A friend’s prep notes from three years ago are good enough.

9. CFA Institute has a targeted pass rate.

10. The minimum pass score is 70%

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CFA SOCIETY OF ISTANBUL

• Established in 2003

• 300 members

• 200 CFA charterholders

• Outreach activities: Universities, Employers, Regulatory Side

• Conferences & Events

• Jobline & Internships

• In 2016, won the prize for highest increase in candidate base in the EMEA

region...

CHARTERHOLDERS IN TURKEY

EMPLOYMENT TOP FıVES

170 CFA Charterholders in Turkey… 20 new charters awarded every year!

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Top 5 Employers

0190001900r1l5190001900r1l10190001900r1l15190001900r1l20190001900r1l25190001900r1l

İş Bankası

Akbank

Yapı Kredi

Garanti

TEB

Number of Employees

Top 5 Job Functions

Job Function %

Research Analyst %17

Chief Level Executive %16

Portfolio Manager %12

Risk Manager %4

Consultant %3

Source: Market Profiles 2015 © CFA Institute

@

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CFAIstanbul info@cfaturkishsociety.org

www.cfaturkishsociety.org CFAIstanbul

CFA_Istanbul

company/cfa-society-istanbul

• JOBLINE

• INVESTMENT RESEARCH CHALLENGE

• MAKROPANEL

• INVESTORS FIRST

• WOMEN IN FINANCE

• CHARTER AWARD CEREMONY

• PENSIONS

• NETWORKING

CONFERENCES & EVENTS

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OUTREACH ACTIVITES

UNIVERSITIES

University recognition program (Koç, Bilkent, Boğaziçi, Sabancı, İstanbul

University, ODTÜ)

Recognized institutions must embed at least 70% of the CBOK, including the CFA Institute

Code of Ethics and Standards of Professional Conduct, into their curricula. Students in

these degree programs are exposed to the topics covered in the CFA Program, which

helps enhance their preparation for sitting for the CFA Program exams. Recognized

universities are not expected to contribute to CFA Institute’s other strategic objectives. The

University Recognition Program is intended to be a solely curriculum-based relationship.

Investment Research Challenge (IRC) – every year!!!

Ethics Challenge – planned!

2016 CHARTER AWARD CEREMONY

& NETWORKıNG EVENT

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November 2016

2017 IRC RECORD NUMBER OF PARTıCıPATıONS THIS YEAR!

14 universities from Turkey attended the Company presentation on November.

The Company was Arçelik.

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2017 IRC TURKEY FINAL

Mar 2017

5 universities competed in the local final presentation.

Özyeğin was the winner!! A reception followed the presentation for the students to mingle

with our members and the judges.

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CAREER FAıR – UNıVERSıTY OUTREACH

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9TH MACRO PANEL

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Panelists

Prof. Refet Gürkaynak; Dr. Ahmet Çimenoğlu; Dr. Murat Üçer

ETHICS TRAINING

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CFA Society Istanbul held 2-day Ethics

Training sessions in Istanbul

18-19 January 2016 ISTANBUL

Sponsored by Turkish Capital Markets

Association

The trainings were made by Michael McMillan,

CFA and Christina Rulfs, CFA. The sessions

in Istanbul were spread to 2 days.

Each day there was a 90 minute Train the

Trainer session targeting CFA charterholders

and a 90 minute Ethics session for finance

professional in general where the Lubrizol

case was presented.

Attendants in Istanbul were primarily from

equity research, portfolio management,

compliance and internal audit departments of

asset management companies, brokerage

houses, and banks.

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A luncheon was held to introduce and promote the Asset

Manager Code. Attendants were top executives of asset

management companies in Turkey as well as some members

of the society board. Christina Rulfs, CFA, and Mr.Celik (CEO

of ING Asset Management) made presentations during lunch

which were followed by Q&A and discussions.

ASSET MANAGER CODE

LUNCHEON

19 JAN 2016

ETHICS TRAINING

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CFA Society Istanbul held Ethics Training session in Ankara

20 January 2016 !!! OUR 1ST EVENT IN ANKARA !!!

The 120 minute training in Ankara was a combination of Train the Trainer sessions and

Ethics sessions made by Michael McMillan, CFA and Christina Rulfs, CFA.

Attendants in Ankara were primarily from the regulatory side, particularly Turkish

Treasury, Central Bank and Capital Markets Board. There were also some

academicians from recognized universities such as Sabanci and Bilkent and candidate

university METU.

BUMED MARCH MAGAZINE

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Interview – Bogazici University monthly Alumni

Magazine

MORE ON THE MEDıA

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Our President’s interview at Dunya newspaper

Women in Finance conference took place on Platin

(business) magazine in April

WOMEN IN FINANCE PANEL

7 Mar 2017

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BILKENT PRESENTATION &

CAREER FAIR

17 Mar 2016

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INVESTORS! 1ST

1 Jun 2016

PRIVATE PENSION FUNDS CONFERENCE

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• High number of attendance and C-

level attendance…

INVESTORS! 1ST – FINTECH 16 MAY 2017

JOINT CONFERENCES MAY 2017

22 MAY - The Opportunities Derivative Instruments provide for Publicly Traded Companies

3 MAY – Integrated reporting conference at Yıldız Teknik University

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MORE ON THE MEDıA

Private

Pension Fund

Conference

in Dunya

newspaper

on 22 Jun

CFA COURSES / LEVEL 1

• CFA Level1 prep courses organized by our society in collaboration with Koc

University in February – April 2017.

• 10 CFA Charterholders picked for 10 week course to 40 candidates.

• There is room for expanding this further.

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MOCK EXAM 14 MAY 2017

SOCIAL MEDIA

Twitter — twitter.com/cfainstitute

Facebook — facebook.com/cfainstitute

LinkedIn — linkedin.com/company/cfa-institute

Sina Weibo (China) — e.weibo.com/cfainst

Seeking Alpha — seekingalpha.com

FT Alphaville Long Room — discussions.ft.com/longroom

CFA Institute maintains an active and growing

social media presence on:

BLOGS

Enterprising Investor

Inside Investing

Market Integrity Insights

www.blogs.cfainstitute.org

• Written by subject matter experts with deep industry knowledge

• Expert analysis and perspective on economics, emerging

markets, derivatives and more

THANK YOU FOR LISTENING —

ANY QUESTIONS?

Learn more at www.cfainstitute.org

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CANDIDATE RESOURCES

CANDIDATE RESOURCES PAGE

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CANDIDATE RESOURCES PAGE:

MOBILE APP (APPLE AND ANDROID)

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CANDIDATE RESOURCES:

STUDY PLANNER

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• Allows users to track their

progress

• Uses topic area weights

• Dynamically adjusts

CANDIDATE RESOURCES:

PRACTICE TESTS

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• Topic-based exams

and mock exams

• Track your score

history

• Unlimited access and

dynamic

FOR FIRMS: EMPLOY CHARTERHOLDERS TO

ENHANCE YOUR PROFESSIONAL OFFERINGS TO

CLIENTS

FOR INVESTORS: HIRE A CHARTERHOLDER AS THE

MOST COMPETENT AND ETHICAL PROFESSIONAL

TO HELP ACHIEVE YOUR GOALS

FOR INVESTMENT PROFESSIONALS: DEVELOP

CAREER SUCCESS BY BECOMING A

CHARTERHOLDER

FOR REGULATORS: WORK WITH CFA INSTITUTE TO

BUILD MARKETS THAT SERVE INVESTORS’ NEEDS.

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