ICIFA

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CIFA Examination Syllabus

The CIFA examination is intented for those persons who wish to qualify and work as professional managers, financial analysts and consultants on investment and securities, pension funds, stock broking, investment and securities, pension funds, stock broking, investment banking and other specialised fields in finance.

The Certified Investment and Financial Analysts (CIFA) examination is held twice yearly in June and December. The examination is divided into three (3) parts of two (2) sections each where each section consists of three (3) subjects. A candidate may attempt one (1) section or two (2) consecutive sections in the examinations. Candidates are not allowed to enter for a higher section before completing a lower one. Prior to applying for registration as a student of the Board, the applicant is advised to carefully assess his/her interest in the profession and ability to study, take and pass the examination within a reasonable time.

Entry Requirements for CIFA courses:

Person seeking to be registered as a student for any of the professional examinations must show evidence of being a holder of one of the following minimum qualifications:

  • Secondary education (O level) certificate with an aggregate average of at least grade C+ (or equivalent) provided the applicant has obtained a minimum of grade C+ (or equivalent) in both English and Mathematics.
  • Advanced education (A level) certificate with at least two principal passes provided that the applicant has credits in Mathematics and English at secondary education level
  • kasneb technician or professional examination certificate.
  • A degree from a recognised University.
  • Such other certificates or diplomas as may be approved by the Board of kasneb

PART I

SECTION 1

Paper No.
CI11. Financial Accounting
CI12. Financial Mathematics
CI13. Entrepreneurship and Communication

SECTION 2

CI21. Economics
C122. Financial Institutions and Markets
CI23. Public Finance and Taxation

PART II

SECTION 3

CI31. Regulation of Financial Markets
CI32. Corporate Finance
CI33. Financial Statements Analysis

SECTION 4

CI41. Equity Investments Analysis
CI42. Portfolio Management
CI43. Quantitative Analysis

PART III

SECTION 5
CI51. Strategy Governance and Ethics
CI52. Fixed Income Investment Analysis
CI53. Alternative Investments Analysis

SECTION 6

CI61. Advanced Portfolio Management
CI62. International Finance
CI63. Derivative Analysis