Submitted a total of 95 months of work experience for regular membership. The first 20 months were rejected b/c “Need More Detail” the most recent 75 months were approved. My question is, do I have to resumbit the first 20 months or since they approved 75 months I am all set?
Thanks,
you’re all set. All you need is 48 months. There’s no reason to care if they approved 75 of 95 months
+1
how much would it suck if they approved 45 months but your current employment didn’t count.
Can anyone tell me if Proprietary trading expeience would be counted in my CFA program??
Did you work for a prop desk at a bank? Or are you referring to trading for your own account? The latter will not count.
How about selling investment linked insurance policy? I do choose the funds based on the client needs with their risk profile and investment horizon. Almost everyone now is looking to make money while having aditional medical protection. It is liquid enough to cash out whereby withdrawal are permited as long as account satisfies a minimum balance and fund price are updated every end of the day. We do allow fund switching up to 4x a year for free. Does this qualify as experience for the charter? I am doing this full time. I have been trying to break into finance without a finance and economics background but it is impossible to get into unless it is sales. So I eventually ended up doing this.
^ That sounds like it could qualify because you choose investment funds for clients. But are these funds really just cash funds like CD’s? So it’s really nothing more than a glorified private commercial banker?
It is not CD’s. Actually we recommend against CDs because CD’s offers no liquidity, can’t withdraw and their rates are well just plain low. The premiums paid are proportioned against agent cost and setup cost (unallocated premium) decreasing gradually towards the six year period whereby after that all premiums will be allocated towards the purchase of new units. Any top ups made would allocate 95% of the amount towards purchasing of new units. If the fund does not perform, then additional premiums will be needed to be paid to prevent the policy into lapse in which case all additional benefits we offer like medical card, death and critical illness benefit will be terminated. For example is when premiums paid after returns/lost are insufficient to meet the basic insurance charge and fund management charge
Then there is the flexibility of choosing funds where you can choose which funds the premiums paid will be invested in. For example, we can advice clients to place 50% for fund A, 30% for fund B, and 20% for fund C based on risk apettite. Our funds are also benchmarked against index like FTSE Bursa Malaysia Top 100, MSCI China Index and JP Morgan Asia Credit Index.
We typically convinced clients the investment growth opportunity before we are able to route them with the death benefits and medical card etc.
I can sell pure unit trust too but I need to get the license for it. Only have the life and the investment-linked license now.
How much detail is enough detail? Are there examples? If they determine there’s not enough detail, can we revise and resubmit?