Certificate in Investment Performance Measurement Receives Bachelor’s Degree Level Recognition in UK

24 June 2010 -

Forty three percent of CIPM Candidates Pass Expert Exam

London – The Certificate in Performance Measurement (CIPM), a two level programme administered by CFA Institute that tests the field of investment performance evaluation, has been benchmarked as comparable to a Bachelor’s degree level within the English Qualification and Credit Framework (QCF) by the UK National Recognition Information Centre. UK NARIC is the National Agency responsible for providing information, advice and expert opinion on vocational, academic and professional skills and qualifications. The CIPM is a self-study programme designed for investment performance analysts, client relationship managers, investment consultants, compliance officers, regulators and software developers in the investment industry.

The analysis by UK NARIC applies a well established benchmarking methodology based on the principles of credential evaluation. The methodological process involves a comparison of the CIPM certification against selected UK framework levels, including learning outcomes and course content. The analysis has found that completing the CIPM programme and meeting the criteria necessary to be awarded the certification is comparable to a Bachelor’s degree level. To help illustrate this, under the QCF, a Doctorate (PhD) sits at level eight, and the school-leaver A-level qualification at level three. Against this framework, each level of the CIPM has been benchmarked to provide comparability:

The Principles Level of the CIPM is comparable to QCF Level 5
The Expert Level of the CIPM is comparable to QCF Level 6
The CIPM is comparable to QCF Level 6

Philip Lawton, CFA, CIPM, head of the CIPM program, said, “The recognition by UK NARIC of the CIPM designation as comparable to a Bachelor’s degree level is a great honour and a big step forward for the CIPM programme. We at CFA Institute are delighted that the CIPM has joined the CFA Program in being recognised for the high level of learning and understanding that it demands. I would also like to congratulate everyone who sat for the intellectually challenging Expert and Principles exams. Those who passed the exams merit special recognition for demonstrating that they understood the ethical issues, analytical techniques, and provisions of the Global Investment Performance Standards (GIPS) on which they were tested.”

Following the recent exam window, 43 percent of the Expert level candidates of the CIPM programme passed the exam. In total, 193 candidates in 20 countries sat for the three-hour, computer-based Expert exam, which was administered during April 2010. The Expert exam emphasises performance evaluation and presentation, including application of the necessary tools and inputs and the GIPS (Global Investment Performance Standards) guidance statements. Successful candidates will be entitled to use the CIPM designation upon satisfying an experience requirement.

In addition, 59 percent of the candidates enrolled in the Principles level of the CIPM program passed the exam they took in the April 2010 window. A total of 328 candidates in 32 countries sat for the three-hour, computer-based Principles exam, which emphasises investment tools and inputs necessary for performance evaluation and the provisions of the GIPS standards. Candidates who pass the Principles exam are eligible to enroll in the Expert level of the program.

Enrollment for both levels in the October 2010 examination window remains open through July 31, 2010.The CIPM curriculum is offered online and examinations are administered during two periods each year at test centers worldwide. There are no prerequisites to enroll in the CIPM programme however, participants must agree to abide by the CIPM Code of Ethics and Standards of Professional Conduct.