I have heard that you can actually apply for the charter before your L3 results? Is that correct? Obviously, I understand that even if the charter is approved, it will be conditional. I was wondering if people who applied could share their experience and provide insight into the requirements please?
You can get your 48 months of work experience approved and the two sponsors validated before you take the L3 test. I got my work experience approved a few weeks before the exam this year. Now I’m just waiting for my results… Oh, you should submit your work experience and two sponsors as soon as possible since it takes several weeks for review.
^I did that too. You don’t really “apply” for the charter, you just need to become a regular member of CFA Institute (for which two sponsors & approved work experience are necessary).
How do I go about doing this? I didn’t do it before the exam. I looked on the CFAI website but couldn’t find any forms or anything to submit.
After you login, there should be a section where you “manage your account” and then click on “manage membership application” or something similar.
I did it just after I found out I passed L2. I think if you log in and go to Manage Account, you can start updating your experience there.
im ready to go, should I pay the membership fee now or in August?
wake2000 Wrote: ------------------------------------------------------- > im ready to go, should I pay the membership fee > now or in August? My advice to you is to wait tillyou get the results then pay. It will not make any different.
the cfai would definitely want you to pay your fee now vs later. bird in the hand…
programmer Wrote: ------------------------------------------------------- > You can get your 48 months of work experience > approved and the two sponsors validated before you > take the L3 test. I got my work experience > approved a few weeks before the exam this year. > Now I’m just waiting for my results… > > Oh, you should submit your work experience and two > sponsors as soon as possible since it takes > several weeks for review. can you get your work experience approved before you get your sponsors or do you have to do that at the same time?
submit your work experience… but it won’t go through review until your sponsors have responded… i submitted my work experience and it said something like waiting for sponsor approval.
I paid today - the only impact (which is crazy minimal) is that if you don’t pay before results you can’t use the letters right after you get notification you passed and can use. Plus I got a subsidized polo from my local society. Probably should have held off but was excited… Does the membership last 12 months or run like June-June?
pretty sure it’s June - June. I applied in Aug, got final approval a few months later, but get bills in June…
OK so I’m sure this gets rehashed every year on this message board, but just to confirm … if I’ve had my work experience approved, paid my dues, and am a member of CFAI and a local society, and I get the e-mail saying PASS in August, then I am a CFA charterholder? Don’t have to wait to receive the actual charter?
what exactly are your sponsors asked? My supervisor is a charterholder, but other than him, I don’t really know any charterholders very well. What’s required of them?
Tasks that the sponsor you choose is required to do: 1. Sign into the CFA Institute sponsor page using your CFA Login. If you do not have a username/password you must create one then return to this email and click the sponsor page link again. If the link does not work, copy and paste the following into your browser: http://www.cfainstitute.org/finsecustomer_enu/start.swe?SWECmd=GotoView&SWEView=CFA+Sponsor+Form+Smart+Script+Player+View 2. Select either “Supervisor” or “Other” to identify your relationship to the applicant. 3. Identify the applicant whom you are sponsoring by entering the following e-mail address: 4. Complete the four sponsorship questions. Please answer the work experience questions based on the applicant’s duties regardless of the amount of months accrued. For the fourth question - a writeup of tasks performed by me to help in the investment decision making process from sponsor’s perspective is required.If the sponsor is not your direct supervisor (another CFA charterholder) you may need to help him by providing your writeup. Make sure that it is brief, to the point. Too much is NOT REQUIRED, from my experience.
Should I make direct references to the LOS when describing my experience?
This does get repeated every year. Do a search and you’ll find what you need. A little late now, but I suggest applying as soon as possible. Before January for any lvl 3 candidates that might come across this. After you list your work experience and apply, you have to wait for your two sponsors to answer their questions. The questions don’t really take very long, but if no one in your society knows you, you might have a hard time getting someone to vouch for you. Of course, others’ priorities aren’t always same as yours so you could be waiting a while. Once both sponsorships are done, you have to wait for the Institute to look it over. Something that can take a few weeks minimum, and that was in November, now you have about 20,000 other lvl III applying. After all this, there is a decent chance your work experience will be denied. Don’t stress, resubmit with more detail on how it directly effects the decision making process. Yes, try to tie it directly to the LOS in the curriculum. Many applications are approved on the 2nd try, but all this means time. You might as well pay your dues now and start getting discounts for society events and getting on their radar. Dues are not pro-rated so as long as its not before June, you won’t have to pay again until next July. Does anyone else think it funny that an Institute that demands pro-rate of most trading/fees and overall fairness, does not pro-rate their own fees??? I got screwed on this, paid full dues last Nov and have to pay again this July.
seemorr Wrote: ------------------------------------------------------- > OK so I’m sure this gets rehashed every year on > this message board, but just to confirm … if > I’ve had my work experience approved, paid my > dues, and am a member of CFAI and a local society, > and I get the e-mail saying PASS in August, then I > am a CFA charterholder? Don’t have to wait to > receive the actual charter? You have to wait for the letter or if CFA appears after your name when you sign in to CFAI website, which ever comes first.