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Full Form of FCA | Full form of CFA

Update on 2024-04-15

Full Form of FCA | Full Form of CFA - Check Difference Between FCA and CFA

What is FCA: The full Form of FCA is Fellow Chartered Accountant. FCA is a designation that is given to a Chartered Accountant. Once a candidate completes CA, the candidate is called Associate Chartered Accountant. FCA is designated to those candidates who have achieved a higher level of professional experience.

In general, there are two types of chartered accountants - Fellow Chartered Accountants (FCA) and Associate Chartered Accountants (ACA). Both FCA and ACA can be members of ICAI (Indian Council of Chartered Accountancy). Simply, FCA is one who holds a certificate of practice for more than five years whereas an ACA holds a certificate of practice for less than five years.

FCA Highlights:

Full-Form

Fellow Chartered Accountant

Duration

1.5 - 4 years

Exam Frequency

Level1: Twice a year (June and December)

Level 2&3: only once (June)

Conducting Body

FCA Institute

Exam Level

Exam to become a Chartered Accountant

Eligibility

Bachelor's degree in a relevant discipline or four years of work experience

Examination Mode

Computer-based

What is CFA:

The full form of CFA has Chartered Financial Analyst. CFA is the most required design for investment professionals. CFA is a globally recognized professional credential in Financial Management and investment provided by the CFA Institute. The CFA course is known as the world’s most respected and recognized designation in investment management.

Candidates who pursue the CFA course acquire in-depth knowledge of the investment industry. This will increase their probability of getting a high-paying job. In India, Industrialisation and globalization are increasing the demand for CFA.

Aspirants who want the CFA institute certificate have to qualify in three levels of examination which are conducted by the CFA Institute:

  1. CFA Level 1
  2. CFA Level 2 and
  3. CFA Level 3

CFA exams are conducted in the areas of Accounting, Economics, Security Analysis, and Money Management. Level I exams are conducted in the month of June and December and Levels II and III are only conducted in the month of June. now let us know the Full form of FCA and CFA

CFA Highlights

Full-Form

Charted Financial Analyst

Duration

1.5-4 years

Exam Frequency

Level1: Twice a year (June and December)

Level 2&3: only once (June)

Conducting Body

CFA Institute

Exam Level

International exam to become a CFA Chartered

Eligibility

Bachelor's degree in a relevant discipline or four years of work experience

Examination Mode

Computer-based

FCA Full Form:

The full form of FCA is a Fellow Chartered Accountant. The main purpose of the FCA is that it will operate as a financial regulatory body in the United Kingdom but act independently in the UK Government. FCA is financed by charging fees to the associates of the financial service industry. The FCA operates the financial firms by giving services to the consumers and maintaining the integrity of the financial markets in the United Kingdom.

FCA was formed on April 1, 2013. It has headquarters at 12 Endeavour Square London. FCA mainly focuses on the regulation of conducting both retail & wholesale financial services firms. FCA is mainly responsible for conducting 58,000 businesses that employ 2.2 million people and also, and it contributes around 65.6 Euros billion in tax revenue to the economy in the United Kingdom.

CFA Full Form:

The full form of CFA is a Chartered Financial Analyst. CFA Institute was established in the year 1947. Over more than 70 years, the CFA course has appeared as the benchmark qualification for the investment industry. Around the world, CFA has grown to over 150,000 charter holders in more than 165 countries. Today, these charter holders work as Equity Research Analysts, Portfolio Managers, Fund Managers, Wealth Managers, CFOs, and Risk Consultants.

FCA VS CFA

Parameters

CFA

FCA

Job profile

Charted Financial Analyst or CFA Charted

Chartered Accountant

Conducting body

Chartered Financial Analyst

Chartered Accountant

Details

CFA is a program that provides regular training & education in the field of finance and also in investment analysis. CFA exam can only be cleared after the three levels, i.e., Level 1, level 2, and level 3.

FCA is a certified qualification in the field of commerce and accountancy. FCA can be obtained after qualifying many rounds, i.e., CA Foundation, CA intermediate, and CA Final.

Time to qualify

1.5-4 years

4-5 years

Global Recognition

Yes

No

Registration fees

INR 1-2 Lakhs

INR 1 lakhs

Salary package

INR 12-20 Lakhs

INR 7-20 Lakhs

Eligibility Criteria for FCA and CFA:

The eligibility criteria for both the FCA and CFA courses are the same. Given below are the eligibility criteria for both courses. Have a look.

  1. A Bachelor’s degree in any discipline from a recognized college or institute. Candidates normally from a similar background want to become a CFA and FCA.
  2. Students who are pursuing the Bachelor's degree program and are in the final year of the program can also register for both the CFA and FCA courses. However, candidates should complete their Bachelor's degree before the date of registering for the level 2 exam.
  3. Applicants should have 4 years of work experience and education or a minimum of 4 years of work experience. The candidates who are doing internships or article ships or running their own businesses will also be counted under the work experience but you have to show that you are paid for this.
  4. Applicants should have a valid passport while registering for the exam.
Important Dates

Important Events

June

December

Registration Starts

August

February

Deadline for Early Registration

October

March

Deadline for Standard Registration

February

August

Late Fee Deadline

March

September

Top Institutes for FCA and CFA:

Name of the Institute
City
Average Fees

Central India Institute of Management Studies (CIIMS)

Jabalpur

INR 32,500

International College of Financial Planning (ICOFP)

New Delhi

INR 40,000

Narayana Business School

Ahmedabad

INR 1,25,000

International College of Financial Planning (ICOFP)

Kolkata

INR 40,000

Shri Chimanbhai Patel Institute of Professional Training (CPIPT)

Ahmedabad

INR 66,000

Exam Pattern Paper 1:

Particulars
Details

Morning Session

120 Questions

Afternoon Session

120 Questions

Duration

3 Hours for each session

Question Type

MCQ

Exam Month

The first week of June and December

Average Pass Percentage

43%

Exam Pattern Level 2:

Particulars
Details

Morning Session

60 Questions in 10 Case Studies

Afternoon Session

60 Questions in 10 Case Studies

Duration

3 Hours for each session

Question Type

MCQ based on caselet

Exam Month

The first week of June

Average Pass Percentage

45%

Exam Pattern Level 3:

Particulars
Details

Morning Session

Essay Type

Afternoon Session

60 Questions in 10 Case Studies

Duration

3 Hours for each session

Question Type

Essay + MCQ

Exam Month

The first week of June

Average Pass Percentage

56%

How to Prepare for CFA and FCA Exams:

  1. Keep a track of the changed exam pattern and the curriculum of the exam.
  2. Prepare important and short notes for each exam separately. Don’t skip any topic.
  3. Go through the syllabus and study material that is provided by the Institute. If you are doing coaching or online study, apart from self-study options, then practice as many questions as you can. Also, keep your theoretical knowledge advanced.
  4. Try to solve mock tests as much as you can for speed testing of question-solving.
  5. Don’t miss any questions since there is no negative marking.
  6. Keep accessing a calculator during the exam whenever you need it.
  7. On exam day, dress comfortably so that you can sit and concentrate properly on your exam.

FCA and CFA Syllabus:

Topics
Description

Quantitative Analysis

Deals with Descriptive Statistics, Probability Theory, and Investment decision-making aspects.

Financial Reporting Analysis

This gives you a thorough explanation of the financial reports along with their standards and procedures.

Ethics

It gives details about ethical behavior and the need for professionalism in the investment market.

Equity Investment

Describes the security markets, indexes, and equity investment areas of the economy.

Fixed Income Analysis

Helps you to Learn about the fixed income securities, factors risking it measures to maintain it and their measurement techniques

Economics

Economics with the supply and demand analysis of individuals and firms.

Derivatives

Derivatives subject helps in understanding the basics of derivatives and their market.

Portfolio Management and Wealth Planning

Portfolio Management and Wealth Planning help with the proper understanding of the fundamentals of portfolio management and wealth planning.

Corporate Finance

It briefs you on the corporate governance aspects.

Alternative Investment

This includes discussion on hedge funds, private equity, real estate, infrastructure, and others.

Jobs and Career:

Job Position
Description of the Job
Salary

Chartered Financial Analyst

Chartered Financial Analysts are responsible for analyzing financial portfolios and creating recommendations on the basis of the same. Chartered Financial Analyst set financial goals and identifies the key steps to achieve them.

9.35 LPA

Business Consultant

The business Consultant's role is to look after the business problems and suggest possible solutions. It also Analyses the company’s financial statements and then helps them in meeting future goals.

9.86 LPA

Market Research Analyst

The research Analyst's job is to examine the given data and provide the employer with a meaningful interpretation.

6.50 LPA

Investment Manager

Investment Manager manages and suggests plans to their clients which helps clients to make money and fulfill their financial goals.

7 LPA

Portfolio Manager

A portfolio Manager usually manages the investment and financial status of private clients.

8 LPA

Private Bankers

Private bankers keep up the relationship with the bank’s clients and monitor their needs. Private bankers also provide credit, loans, and other solutions to the client.

8.58 LPA

Risk Manager

The risk Manager basically analyzes the risk in the market, prepares a specialized plan for it, and then executes the plan to reduce the level of risk facing.

10 LPA

Chief Executive Officer

Chief Executive Officer is the one who is truly responsible for all the vast decisions related to the business. They plan to get the better of the goals.

41 LPA

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