Membership App before L3 pass?

CFA Level III
#1

Any advantage to finishing membership app before the L3 “pass”? I keep getting emails about it being “incomplete”. What a tease.

#2

I don’t think there’s much of an advantage, but I applied over the summer and became a member. One good thing is knowing that my work experience is met and all I have to do (yeah, all I have to do) is pass the Level 3 exam.

#3

You can start paying dues earlier. The plus is risk reduction – the primary risk being they’d reject your work experience, delaying your charterability while you negotiate that out.

#4

I keep getting the same emails too.

#5

It gives you a new source of ungodly frustrations… Thet told me over the phone that it typically takes approximately 7 business days for them to read an email…

#6

I joined my local society over the summer. My CFA sponsor accepted my work experience and I am now a member however the website still says “48 months submitted and 0 accepted” Should I expect this to be changed or does this get approved once I pass L3?

#7

It is not up to your sponsor to accept your work experience. The CFAI decides that.

#8

Hey Guys, take a look at the posting i placed in the general discussions forum: It’s in regards to work experience, http://www.analystforum.com/phorums/read.php?1,627483 Let me know what you think.

#9

bang 44, I figured my sponsor wouldn’t decide that, my question is does CFAI decide your experience before passing L3?

#10

Yes work experience is evaluated before passing L3 but it takes a while to get accepted. If I remember right mine took about 4 weeks.

#11

indike, thanks for the info. I think its been more than 4 weeks though. Whats odd is that the webpage says I have been approved for membership, yet it says 0 weeks accepted. I have yet to pay my dues however to complete the application. Does that have anything to do with it? and whens the best time to pay dues?

#12

UAECFA, I think CFAI is swamped. They had never told me anything before I called. Two to three weeks after I submitted my application, nothing showed up in my account. I called, they told me that my work experience was not accepted because the description was too brief. They couldn’t evaluate it. So I sent in an expanded version of it. Nothing seemed to have happened for another month, until I called again. I have been awarded the charter for a more than a month, my account has not been fully updated - it still does not allow me to update my work experience (I have since then left that job). So I would suggest you to call them up.

#13

I am a level 3 candidate. Took CFAI two weeks for work experience to be accepted. Work Experience 30 Months Submitted, 30 Months Accepted. Very sad to know that I now need another 18 months, I should have started 1 year earlier when 36 months was enough…loll Ponpon

#14

Hi, I am a Level 3 candidate too. How can I submit my work experience? Where on the CFAI website that I can do that?

#15

UAECFA Work exp. evaluation can take time, as I believe both CFAI and local society evaluate them. I think paying dues is the final step, once we pay the name gets listed in member directory. Studyhard: this is the link to begin application process. http://www.cfainstitute.org/cfaprog/getstarted/requirements/howtobecomeacharterholder.html

#16

Indike, How detailed do I need to be in describing my work experience ? approximately how many characters per section ? Thanks

#17

search “work experience” in this forum.

#18

mo34 The work exp description should be about a page. I think the length of the descriptions don’t matter. However it is crucial to highlight and indicate in bullet points and headings specifically how it relates to the investment decision making process. It is best to do a search and see other views too before submission to CFAI, I am an L3 retaker, failed in 07.

#19

To help others, this is an example of work experience format that was accepted by CFAI. Main tasks: • Produce research and financial, technical, commercial and socio-economical analysis related to private sector’s investments submitted to … • Take position on supporting financial investments in R&D projects and negotiate agreements. • Follow-up on investments to ensure the agreement conditions are met. • Provide information on the program to private firms and government organisations. • Acquire a strong knowledge in … industries specifically relating to technological developments, business conditions, Canadian leaders and international competition. Ponpon