Executive Office: Unit 2, West Square, 407 West Avenue, Ferndale, Johannesburg
Press Release
For Immediate Release
Attention Finance & Education Editors
17 January 2011
Forty-Eight Percent of CIPM Candidates Pass Expert Exam
CFA Institute has announced that 48 percent of the candidates who sat for the Expert level exam in the Certificate in Investment Performance Measurement (CIPM) programme passed the exam in October 2010. The CIPM credential is the investment industry’s only designation dedicated solely to the specialised field of investment performance analysis and presentation. Successful candidates will be entitled to use the CIPM designation upon satisfying anexperience requirement.
In total, 225 candidates in 27 countries sat for the three-hour, computer-based Expert exam, which was administered during October 2010. The Expert exam emphasizes performance evaluation and presentation, including application of the necessary tools and inputs and the Global Investment Performance Standards (GIPS) guidance statements.
Todd Jankowski, CFA, head of the CIPM programme, said, “I would like to congratulate all the candidates who have successfully passed the Expert exam and who can now use the CIPM designation. Those with the CIPM designation bring skill, integrity, and professionalism to the table – all qualities that employers and clients alike seek.”
To date, 806 candidates have passed both levels of the CIPM programme. The number of candidates enrolled for the October 2010 exam cycle has increased by 58 percent when compared with enrolment numbers from April 2006, when the CIPM programme was first offered. This marked growth in numbers demonstrates the increased value that professionals in investment performance evaluation are placing on the designation.
The CIPM programme is designed to test a candidate’s knowledge and understanding of a specialised curriculum in the areas of ethics, performance evaluation, and application of the GIPS standards. Obtaining the CIPM certificate demonstrates a practitioner’s proficiency in applying analytical techniques and preparing GIPS-compliant presentations, which guide investment firms in fairly representing and fully disclosing performance results.
"The CIPM programme continues to live up to its goal of promoting the performance measurement profession and those who work in it. I am enthused by its continued success, and congratulate those who have most recently achieved this recognition," said David Spaulding, CIPM, president of The Spaulding Group Inc.
In addition, 55 percent of the candidates enrolled in the Principles level of the CIPM programme passed the exam they took in the October 2010 window. A total of 298 candidates in 29 countries sat for the three-hour, computer-based Principles exam, which emphasizes investment tools and inputs necessary for performance evaluation and the provisions of the GIPS standards.
Candidates who pass the Principles exam are eligible to enrol in the Expert level of the programme. Both exams cover professional ethics; investment performance measurement, attribution, and appraisal; and the GIPS standards.
"The Certificate in Investment Performance Measurement is the only designation that is directly related to the work performance analysts do every day. The programme’s solid curriculum provides analysts with a strong foundation in performance measurement," said Christine Lannacone, Vice-President, Goldman Sachs.
Enrolmentfor both levels in the April 2011 examination window remains open through 31 January 2011.The CIPM curriculum is offered online and examinations are administered during two periods each year at test centres worldwide.
CFA Institute
CFA Institute is the global association for investment professionals. It administers the CFA and CIPM curriculum and exam programmes worldwide; publishes research; conducts professional development programmes; and sets voluntary, ethics-based professional and performance-reporting standards for the investment industry. CFA Institute has more than 100,000 members, who include the world’s 90,000 CFA charterholders, in 135 countries and territories, as well as 135 affiliated professional societies in 58 countries and territories. More information may be found at
Certificate in Investment Performance Measurement (CIPM)
The CIPM programme is designed to test candidates’ mastery of a specialised curriculum in the areas of ethics, performance evaluation, and application of the Global Investment Performance Standards (GIPS). Certification recognises a practitioner’s proficiency in applying analytical techniques and preparing GIPS-compliant presentations, which guide investment firms in fairly representing and fully disclosing performance results. The CIPM self-study programme trains performance analysts, client relationship managers, investment consultants, GIPS verifiers, compliance officers, regulators, and software developers, among others, to meet industry needs for technically qualified, ethically grounded investment performance professionals.
About CFA South Africa
CFA South Africa, an affiliate of CFA Institute, serves the investment community of Southern Africa by promoting the highest standards of professional excellence and integrity. In our mission to promote global-best-practice, CFA South Africa supports the CFA Code of Conduct & Standards of Practice and the Chartered Financial Analyst (CFA) Programme. CFA South Africa members are principally investment and financial service professionals, academics, and regulators. CFA South Africa is a non-profit organisation that seeks to be financially sustainable. More information may be found at
Media Contacts:
Directors of CFA South Africa TB Berry, CFA;ACCanter, CFA; M Efstathiou, CFA; PJKnibbs, CFA; E Louw, CFA; LRaff, CFA;NJ Suliaman, CFA;AD Thompson, CFA; NLWaisberg, CFA
Executive Officer: Ann Marie Wood
/ CFA South Africa is a society formed under the auspices of the CFAInstitute, Charlottesville, Virginia, USACFA and Chartered Financial Analyst are registered trademarks
CFA Institute
Kathy King
Washington, DC
+1 (434) 227-2177
CFA South Africa Media Relations:
MoonWrite Creations
Leandi Cameron
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Email:
CFA South Africa:
Executive Officer
Ann Marie Wood
Tel: 011-791 0105
Email:
Directors of CFA South Africa TB Berry, CFA;ACCanter, CFA; M Efstathiou, CFA; PJKnibbs, CFA; E Louw, CFA; LRaff, CFA;NJ Suliaman, CFA;AD Thompson, CFA; NLWaisberg, CFA
Executive Officer: Ann Marie Wood
/ CFA South Africa is a society formed under the auspices of the CFAInstitute, Charlottesville, Virginia, USACFA and Chartered Financial Analyst are registered trademarks