The Macquarie University Applied Finance Centre (MAFC) was the first member of the Chartered Financial Analyst (CFA) Institute’s University Affiliation Program in Australia and the Asia Pacific. The MAppFin is a comprehensive, advanced degree program, where areas of the curriculum overlap with material in the CFA program. The CFA Affiliation Program is an acknowledgement that at least 70% of the required body of knowledge for CFA candidates is covered within the Master of Applied Finance (MAppFin). Candidates preparing for the CFA qualification will therefore benefit from undertaking the MAppFin program. The Institute believes that candidates will be more successful if they are trained in the Candidate Body of Knowledge (CBOK) while they are enrolled in degree programs such as the MAppFin.
The benefits for CFA candidates who enrol in MAppFin include:
- Building a thorough framework for understanding and applying finance concepts and techniques.
- Gaining a solid grounding in the CFA Program CBOK in a face to face lecture environment.
- Tuition from lecturers who combine high level academic skills with finance industry experience.
- Regular assessment tasks undertaken by students in the MAppFin program provide a means by which those studying for the CFA qualification can gauge their level of preparedness.
- Opportunities to meet fellow students and candidates.
- The MAppFin program covers a deeper level of knowledge in certain areas.
- Potential substitutions from program units by passing CFA examinations.
In some cases, the MAppFin program covers the subjects in a different order to CFA Levels I, II and III. For instance some material covered in CFA Level III is taught in Portfolio Management and Valuation, our first unit; Conversely, some elements of the CFA Level I are covered in electives that are typically taken in the second year of the program. While greater depth is reached in the MAppFin in certain topics, there is also some of the CBOK that the MAppFin program does not explicitly cover.
For the CFA exam preparation, we would recommend you follow the suggested program below. The electives in Group 1 cover more CBOK than those in Group 2 and 3.
Four core units:
- Portfolio Management and Valuation or Investments
- Financial Instruments
- Corporate Finance
- Financial Risk Management
|Group 1||Group 2||Group 3|
"From my experience with the CFA exam process and my involvement with the MAppFin’s curriculum, I can see the strategic advantage that the MAppFin creates for CFA candidates."
— Dan Daugaard, CFA Fellow