Accredited Financial Analyst®

Creating Financial Analyst’s Across the Globe

The Accredited Financial Analyst® Certificate Program is designed to develop the skills required by Financial Analysts, Research Analyst and Equity Analysts to execute critical functions related to Financial Statement Analysis, Corporate Finance, Equity Research, Investment Analysis and Financial Modelling. This Globally coveted Designation is offered by American Academy of Financial Management USA. Which is a 17 year old Educational Board based out of Colorado Springs USA with over 3,00,000 Certificants Globally.

In a world of specialization, no other profession requires such broad, yet in-depth knowledge than that of Financial Analyst. Financial Analysts must not only possess a broad understanding of the financial markets-including structure, organization, efficiency, portfolio management, risk and return, and planning and construction-but they must also have a strong sense of how to evaluate industries and companies prior to engaging in an analysis of a specific stock. The AFA® Certification Program provides the broad-based knowledge professionals and students of the markets need to manage money and maximize return.

The job outlook for financial analysts is expected to grow by 23 percent from 2010 to 2020. Alongside this growth is an expected increase in competition found in this job market. There are a lot of individuals who intend to pursue a career path as a financial analyst due to the promising pay and other opportunities. Hence, people who want to stand out from the rest of the pack opt to earn a financial analyst certification to prove that they have what it takes to be worthy of the field. A certification also strengthens one’s prospects in the company they are in and can help them climb up the employment ladder.

Program Goals

In this program students will learn to:

  • Interpret the effect of Global & Local Economic Environment on Financial Markets and Investments
  • Forecast the impact of government economic policies on a business.
  • Analyse Financial Statements to find out the Financial Strengths and Weakness of a company using the various tools of Analysis.
  • Monitor and control corporate exposure to financial and operational risks.
  • Recognize corporate governance issues that arise from the separation of corporate ownership and control.
  • Employ working capital strategies and tools to efficiently manage current assets and liabilities.
  • Optimize capital structure, manage costs of long-term capital and quantitatively evaluate capital resource investments.
  • Use statistical methods for the analysis of quantitative data and their application in a range of Financial Analysis Techniques.
  • Apply basic statistical methods in solving financial problems.
  • Describe and interpret the general features of fixed income securities and understand the basic operations of fixed income markets.
  • Use basic interest rate derivatives like futures and options to manage risk and have general knowledge of other interest rate derivatives like FRA, interest rate swap, and credit default swap.
  • Construct optimal portfolios and illustrate the theory and empirical applications of asset-pricing models.
  • Explain macro and industry analysis, equity valuation, financial statement analysis and technical analysis.
  • Characterize the implications of the market efficiency evidence on active portfolio management.
  • Develop and employ theoretical valuation methods to price financial instruments including Alternative Investments.
  • Apply Alternative Investment instruments in managing the risk of investing and hedging activity at the individual and the corporate level.
  • Use discounted cash flow models to measure the impact of alternative investment strategies in order to formulate a strategy to maximize investment yield. Variables for comparison will include alternative financing, project density, income and expense expectations.
  • Make investment policy recommendations, including the determination of an optimal asset allocation.
  • Analyse and evaluate the performance of an investment manager.
  • Use and develop spread-sheet based Financial Modelling solutions to financial problems
  • An awareness of ethical, social and cultural issues within a global context and their importance in the exercise of professional skills and responsibilities as a Financial Analyst

Study Materials

AFA® Candidates get access to our proprietary Study Material which is accessible online.

  • The Registration Fee includes the online access to the AAFM’s AFA Learning System™.
  • Guided overviews for each module highlight key topics
  • Assessments identify topics a participant already knows and those areas that require more time and attention
  • More than 500 questions for continually testing knowledge and comprehension
  • Features real-life case study scenarios and questions to apply your knowledge

Certificate Requirements

In order to become a AFA® Designation holder and enjoy the benefits of increased AFA salaries, candidates must pass two examinations of two hours and three hours respectively, have a bachelor's degree from an accredited institution at the time of grant of certification and complete 2 levels of project work. To enrol for the program they need to be at least Intermediate (10+2). AFA® certification examination is conducted by Pearson Vue across their Examination Centres. AFA charter holders are required to follow to a strict code of ethics and rules that governs both their professional and personal conduct.

Curriculum of AFA®

The Curriculum of AFA® Consist of two levels:

Level 1 : Foundation Level Consisting of 5 Units.

Level 2 : Advanced Level Consisting of 5 Units.

Level 1 Foundation Level

Unit No. Name of the Unit
UNIT 1 Introduction to Financial Markets
UNIT 2 Quantitative Techniques and Methods
UNIT 3 Financial Statement Analysis
UNIT 4 Corporate Finance
UNIT 5 Fixed Income Security Analysis

Level 2 Advanced Level

Unit No. Name of the Unit
UNIT 6 Equity Valuation
UNIT 7 Derivatives and Alternate Investments
UNIT 8 Portfolio Management Strategies
UNIT 9 Behavioural Finance
UNIT 10 Advanced Financial Analysis

There are Two Examinations a Candidate has to Clear to meet the Academic Requirements of AFA® Certification Program

Name of Examination Duration Units Covered No. of Questions Section A Section B Section C Total Marks Passing Percentage
AFA_Level_1 115 Minutes 1 to 5 80 30 (1 Marks) 30 (2 Marks) 30 (4 Marks) 170 50%
AFA_Level_2 175 Minutes 6 to 10 90 40 (1 Marks) 30 (2 Marks) 20 (5 Marks) 200 50%

The candidates who wish to undergo the AFA® Certification Program (the ‘Program’) have to get registered with AAFM India. A candidate can register with AAFM India through Online Mode or Offline Mode.

FEE TABLE FOR AFA® Certification

Heads Resident Student Overseas Student
Registration Fees$ Rs. 34,220 USD 1000
Examination Fees%
Level 1 Rs. 5,900 USD 200
Level 2 Rs. 9,440 USD 200
Certification Fees# USD 100 USD 100

%Payable at the time of Examination only

#Payable once the candidate has passed all the required examinations and fulfilled the other criterions. The AFA® Certification fees payable on application of the certification will be payable Rupee Equivalent Amount of USD 100. For this purpose the USD/INR exchange rate of less than 50 paisa would be rounded to the next lowest rupee, and an exchange rate of 50 paisa or more would be rounded to the next highest rupee.

$The registration is valid for 365 days from the date of activation of registration by AAFM India and the candidate is required to complete the certification within 3 Years from the date of activation of registration otherwise any completed Level shall stand nullified

^Please note In case of Overseas Candidate the courier cost of Courseware shall be borne by the candidate only

Only Demand Drafts are accepted in favour of "AMERICAN ACADEMY OF FINANCIAL MANAGEMENT INDIA PRIVATE LIMITED" payable at New Delhi, India.

Fees once Paid is non-refundable under any circumstances.

Overseas Candidate can deposit the requisite Fee in the following Bank Account:


Company Name : American Academy of Financial Management India Private Limited
Bank Name : ICICI Bank
Branch Address : ITL Tower Branch, G 20, 21, PP Tower, Netaji Subhash Place, New Delhi 110034
Account Name : American Academy of Financial Management India Pvt. Ltd.
Bank Account No : 135305000325
Swift Code : ICICINBBCTS
IFSC/NEFT/RTGS Code : icic0001353

Go to the AFA Registration Page and Fill the Form.
Select the Fee Payment Option
You can pay the AFA Registration Fees:
Online : Credit and Debit Cards
Offline : Through Demand Draft in Favour of “American Academy of Financial Management India Private Limited” payable in Delhi.
Offline through NEFT/RTGS Fund Transfer