CMFAS revision

[taywk26]

Hi, ppl

I was just wondering how long does it take for an average ppl to study the cmfas exams?
cos i do not have any pior banking & financial knowledge as my poly course is unrelated to business. i am thinking of studying and register for the cmfas exam probably 1, 6 and 6A after i graduate my poly as there is a few months free till the enlisting of NS. I am thinking of probably becoming a stockbroker or trader for my career.
So, i need to know how long does it take for a person to study and fully prepared for the exams?

Any insights pls?

 

[Successor.]

Hi, ppl

I was just wondering how long does it take for an average ppl to study the cmfas exams?
cos i do not have any pior banking & financial knowledge as my poly course is unrelated to business. i am thinking of studying and register for the cmfas exam probably 1, 6 and 6A after i graduate my poly as there is a few months free till the enlisting of NS. I am thinking of probably becoming a stockbroker or trader for my career.
So, i need to know how long does it take for a person to study and fully prepared for the exams?

Any insights pls?

From what I understood, it does not takes more then a month of rigorous full time studies.

 

[citrusman]

just to put you on the right track:

-a broker needs to put 20000 as collateral with your brokerage before you even commence business.
- CMFAS is a industry requirement, not an academic qualification. Having it does not mean that you have the required qualifications for the job. If finance is your dream career, go for a finance related course.

M1a is on rules and regulations, you need less than a week for a normal person to study and pass.
M6 and M6a are very syllabus heavy and you might need a few months if there is no one guiding you. I have personally known people in the banking industry who took more than 8 attempts to pass.

 

[taywk26]

just to put you on the right track:

-a broker needs to put 20000 as collateral with your brokerage before you even commence business.
- CMFAS is a industry requirement, not an academic qualification. Having it does not mean that you have the required qualifications for the job. If finance is your dream career, go for a finance related course.

M1a is on rules and regulations, you need less than a week for a normal person to study and pass.
M6 and M6a are very syllabus heavy and you might need a few months if there is no one guiding you. I have personally known people in the banking industry who took more than 8 attempts to pass.

Hi, cirtursman, maybe i didn't stated myself clearly enough, pardon me. I am intending to take the cmfas exams is because i have a few months free of time from graduateing of poly till enlisting of NS so i am decided to enrol for the exam. I understand the importance of the degree in order to climb up the coporate ladder, which i am going for it after my NS, probably a B&F degree. I want to utilise much of the time, cos once after my degree, i might register for acca and cfa, and all these required time. Really a vast amount of time, could be as long as 8 or even more years (just to study for acca + cfa). Btw, i am struck between being ac accoutancy or B&F sector, which is why i decided to sign up for both.

After which, i could be in my early 30s, which is the reason why i wanna enrol for cmfas during my exam, as degree, acca, cfa, etc need a few years, while cmfas need only a few months or even weeks to study.

and i do understand that broker needs to put $$ as collateral with the brokerage, ( hmm, i tot is 30k), the client may ended up bankruptcy which may drag the broker down.

 

[Hymnody]

Hi, cirtursman, maybe i didn't stated myself clearly enough, pardon me. I am intending to take the cmfas exams is because i have a few months free of time from graduateing of poly till enlisting of NS so i am decided to enrol for the exam. I understand the importance of the degree in order to climb up the coporate ladder, which i am going for it after my NS, probably a B&F degree. I want to utilise much of the time, cos once after my degree, i might register for acca and cfa, and all these required time. Really a vast amount of time, could be as long as 8 or even more years (just to study for acca + cfa). Btw, i am struck between being ac accoutancy or B&F sector, which is why i decided to sign up for both.

After which, i could be in my early 30s, which is the reason why i wanna enrol for cmfas during my exam, as degree, acca, cfa, etc need a few years, while cmfas need only a few months or even weeks to study.

and i do understand that broker needs to put $$ as collateral with the brokerage, ( hmm, i tot is 30k), the client may ended up bankruptcy which may drag the broker down.

the cmfas license will expire in two years if you are not in a related role. ns + degree already 5 years. why so hasty ? if you want to be fast, then start acca now and self study during ns. by the time you finished with ns, acca almost done, enrol cfa and degree at the same time! do the top up degree with acca and eligible for cfa enrollment already.

base on my timeline for estimation. by 5 years you would have cfa acca and degree! awesome.

 

[taywk26]

the cmfas license will expire in two years if you are not in a related role. ns + degree already 5 years. why so hasty ? if you want to be fast, then start acca now and self study during ns. by the time you finished with ns, acca almost done, enrol cfa and degree at the same time! do the top up degree with acca and eligible for cfa enrollment already.

base on my timeline for estimation. by 5 years you would have cfa acca and degree! awesome.

Oh k, but things don't always go as planned... I heard that some ns boy took up acca while in ns and managed to clear the paper, cos that depend on their bunk mates and officer in charge.... Plus i heard that acca is tough, in additional to the fact I do not come from acc diploma, and the fact that cfa is tough too, I don't think I am those smart guy who can clear both cfa and degree both at same time
Oh btw, all these tuition fee is not supported by my parents, I need to work ft to pay for these expenses
Anyway, What do u mean by the cfmas license will expire? Why? Doesn't make sense they have a expire date...

 

[Successor.]

You can't take CFA without a degree...
And if you are planning for BnF degree, might as well finish the degree then get exemption for ACCA.

That's what I am doing now.

Anyway CFA is not that easy to clear. Takes time and effort and cost $1.5k to start off.

My take is, go NS, ORD then start your academics, there is no rush.

 

[taywk26]

You can't take CFA without a degree...
And if you are planning for BnF degree, might as well finish the degree then get exemption for ACCA.

That's what I am doing now.

Anyway CFA is not that easy to clear. Takes time and effort and cost $1.5k to start off.

My take is, go NS, ORD then start your academics, there is no rush.

Hi successor,
Tks for the reply, that is what i am intending to do, poly<NS<B&F degree<acca< cfa
And probably between the period of graduating from poly to enlisting of ns, i am going to take some cmfas exams as the time to study is shorter... (probably have around 4-6 mths).
Few reasons include what u say, such as exemption.. others could be tutuion & exams fees, etc.
But i also cannot "not rush" as by the time of all these, i will probably in my late 20 or early 30 (it quite late for me as some graduates already start working at mid 20).
anyway, u are making a mistake, cfa lvl 2 then need degree from there, but doesn't matter to me cos my cfa comes after degree.
can someone explain to me about a guy earlier post "the cmfas license will expire in two years"? what was that abt?

 

[GoodServices]

Hi can I ask for those who took m5 before, can I just ask by practicing mock papers for 5 times with 500 questions is it sufficent to pass? I don't think I have time to go through the textbooks and am lazy as well to read so much theory haha.

 

[taywk26]

Hi, can anyone tell me is this route possible?

diploma<cmfas exam< B&F degree< acca< cfa

the reason why i wanted to took cmfas exams after my diploma is becos i have 4-5 mths until my enlisting of ns, and i was thinking of using this few months to do the cmfas exams
and i wanna do acca after degree so i can get exmption from some paper as my diploma is not non-accounting/finance. Oh, pls don't advise me to take acca during ns as i currently don't think i have the $$ to register for lessons.
(i do know that cmfas exams is not a degree, it just a cert that is required by mas)

does this education route sound right?
i need some insight pls

 

[Kyoji83]

What you really want? The way I see is you wish to sell insurance in an insurance/bank companies which is the reason why you are taking CMFAS, B&F degree & even CFA. In this case, why would you even want to take ACCA?

Hi, can anyone tell me is this route possible?

diploma<cmfas exam< B&F degree< acca< cfa

the reason why i wanted to took cmfas exams after my diploma is becos i have 4-5 mths until my enlisting of ns, and i was thinking of using this few months to do the cmfas exams
and i wanna do acca after degree so i can get exmption from some paper as my diploma is not non-accounting/finance. Oh, pls don't advise me to take acca during ns as i currently don't think i have the $$ to register for lessons.
(i do know that cmfas exams is not a degree, it just a cert that is required by mas)

does this education route sound right?
i need some insight pls

 

[taywk26]

What you really want? The way I see is you wish to sell insurance in an insurance/bank companies which is the reason why you are taking CMFAS, B&F degree & even CFA. In this case, why would you even want to take ACCA?

I'm actually torn between accounting and finance, so i decided to take both, and it's always better to have more cert, wouldn't u agree?
And no, not insurance agent, probably some stockbroker or banker...
But if i get tired, i might switch to accountant

 

[Kyoji83]

They are doing the same jobs (or at least have the same career start) in my eyes.

Then you only needs ACCA to join accounting related jobs & CMFAS to meet MAS requirement. CFA is optional if you want to market yourself to clients. For B&F degree is really useless expect to look for job in a bank.

I'm actually torn between accounting and finance, so i decided to take both, and it's always better to have more cert, wouldn't u agree?
And no, not insurance agent, probably some stockbroker or banker...
But if i get tired, i might switch to accountant