Another Global Institution to Cover Crypto and Blockchain
Global educational institutions are not ready to leave either blockchain technology or the cryptocurrencies aside despite diverse opinions on the emerging sector. The latest to join the list of institutions to offer a course on the two subjects is the CFA Institute that offers Certified Financial Analyst course. The move is meant to test the upcoming professionals’ knowledge of the two key subjects. There were already announcements from different universities about their intention to offer courses on these two topics.
The CFA Institute is planning to add the course on digital coins and blockchain from its 2019 curriculum with Level I and II exams, ethnews.com reported. The CFA institute aims to cover these subjects under the general FinTech topics that included big data, machine learning, and artificial intelligence besides automated trading. At a later stage, the organization will add materials like how the virtual currency is gaining traction with economics. Though there is a Level III exam, these two topics are not finding its place in the final level at this juncture.
In any case, the third level is a key factor to get the CFA designation. The institute will release its exam material next month thus enabling students to prepare for the next year exam. The organization has recommended 300 hours of study before getting ready to write tests. CFA Institute’s managing director for general education, Stephen Horan, thinks that blockchain technology cannot be treated just like a passing fad. He was commenting about the continued advancements and the durability of the new age technology. None-the-less, some students have reportedly shown their appreciation for adding the topics.
For instance, Columbia University’s financial economics student, Kayden Lee, believes that cryptocurrency is beneficial since a big expansion is taking place in the emerging sector. Also, the adoption of the digital coin in investment is the universe. Apart from the exams level, the institute will also focus on professional ethics in the virtual assets sector. That is mainly due to a number of frauds happening with the help of cryptos.
Among the frauds, money laundering, market manipulation and stealing of digital coins are popular. Therefore, the ethics part is regarded as the right move on the part of the institute. The certified persons enable to move up in the career since some of the frontline employers showing interest in CFA candidates included JPMorgan Chase, Merrill Lynch, and Morgan Stanley.
No Chance to Skip
The candidates who are opting for the CFA course have to pass the multilevel exam, i.e., three levels I, II and II, in succession. There is no provision for either skipping any levels or rearranging the order of the three levels. While the first Level is available in December and June, the other two levels are offered only in June.
During the period of 2008 – 2017, the Level I exam witnessed an average pass rate of 40 percent thus suggesting that several candidates considered it to be a tough one. Also, the average pass rate ranged between 40 and 65 percent in any given year at each level.