I passed the June 2013 level III exam but only just hit the required 4-year mark with respect to work experience. I submitted my application today. How long do you think it will take (1) the local society (I understand there is quite a bit of variability) and (2) the CFAI itself to approve the application given it is before the mad dash post the release of the June 2014 level III exam?
Should be very quickly. Once you get approved by the CFA, I would just drop the local society a line…
Thanks Palantir. CFAI and my society approved my work experience. I completed my PCS yesterday and my employer paid my dues the same day. I now have the charter.
Very much appreciate your note above.
What do you mean by dropping the local society a line? I thought it was just one application. I applied over two weeks ago, got my work experience approved by CFAI after a few days, and still nothing approved by the local society.
secret: email local socirty and tell them you application has been submitted. they will most likely approve you the same day
I applied several weeks ago - CFAI approved my WorkEx within days, NYSSA took something like 12-15 business days.
Do we need to be members of a local society at all? My understanding is that it’s not necessary - is this true or am I mistaken?
Join your local society and attend events and contribute to the profession. It’s a few bucks, what’s that to a BSD?
Cgottuso8190, Did you pay NYSSA dues? They told me if you don’t want to do that, you need to wait 30 days and then CFAI will approve automatically.
Apparantly different societies have differnet turnaround times. The wait is painful. I would really like for them to get this done before 2014 results come out.
CFAI approved my work exp. now will my local society by automatically intimated about the approval or do i have to tell them and get it approved separately by them ? Also, how long would the local society take to approve ?
Don’t you have to be a society member? How do they approve your charter without?
Local societies are informed automatically, but different timetables for different societies. For example, I emailed the San Francisco society and they replied that they review new applications once a month and their next meeting is on August 20th.
Wow quick turnaround. I submitted all of it on 7/17 and CFAI approved it two days later. Still waiting for local society…I’m pretty much expecting them to just lump me in with all the L3 passers and I probably won’t get the designation until September.
Anyone here have additional info on the applicability of audit experience (in excess of what the CFAI has on their website, which is nominal)
Gist of “applicability of audit experience” to get it approved for membership is : “all depends on how you write what you do” to claim that your work ‘contributes to investment decision making’ directly or by some one else. There are quite a few threads on this topic (audit work-experience) in this forum, search for it. Investing some time on it will solve your problem. If I remember it correctly, there is at least one case where the OP (an auditor) gave full account of how it got rejected first time and then approved by rewriting it to satisfy CFAI people!
They approved mine. I just used some example text from the CFA website somewhere.
Do I need to pay for membership in order for CFAI to approve my work experience?
What does this mean?..lump in with rest of level 3 passers?
I have CFAI approval and am waiting on my local society at the moment.