The ChIFP Designation
The ChIFP or Chartered Investment and Financial Practitioner professional designation is the investment and finance specialist mark of excellence introduced by APFinSA to meet the changing needs of its member association.
To launch the designation International Certification Standard Board (ICSB) proudly introduces the ChIFP Programme for those who meet the specific requirement set by the FLCP Board.
Those member who are involved in giving investment advice to their client or those who wants to have a deeper appreciation of the various topics of investment and finance or those who are studying for the Securities Commission licensing modules are encouraged to attend the programme.
The ChIFP designation programme will be conferred on those who meet the requirements for the following 4 (four) modules :
|1F401 Valuation of Securities & Fundamental Analysis
Lecture Hours : 15
|1F402 Portfolio & Fund Management
Lecture Hours : 15
|1F403 Managerial Finance & Investment Planning
Lecture Hours : 15
|1F404 Regulatory Controls on Investment Advisors
Lecture Hours : 8
Why ChIFP ?
The ChIFP programme is distinguished and unique in the following ways:
- Qualified Graduands
ChIFP graduans are able to provide sound advice to their clients in a systematic manner, advising on all levels of a comprehensive financial plan. ChIFP graduans are fully qualified and experienced to advise their clients.
- Practice Oriented
The ChIFP curriculum is highly academic based as well as practice oriented. Part of the programme incorporated with real-life case studies.
- Continuing Education
ChIFP graduans are to have a minimum 30 hours continuing professional development education for every two years to maintain their designation. ChIFP graduans are always upgrading their skills and knowledge even after graduation.
- International Recognition
The ChIFP designation has presences in 9 different countries, and being recognised in 12 different countries. The international recognition allows ChIFP graduans to be recognised as a fully qualified investment financial practitioner worldwide.
ChIFP Programme Course Outline
- The importance and relevance of financial statements in financial and investment analysis.
- Brief introduction on how accounting standards and policies are generated in Country concerned. The regulatory bodies that affect accounting rules and presentation to the public in respect of contents and timing of releases are recognized.
- The role of external outlook in international market, domestic economic market, industrial sector business life cycle, market share, goodwill and managerial skills in are studied in addition to financial statement analysis.
- Discuss the limitations of the use of financial statements and related important accounting issues when interpreting financial statements for informed investment decision making.
- Definition and valuation of fixed income and equity securities. Concepts of time value of money in pricing and the valuation of securities.
- Application of the concepts in financial and investment planning.
- Factors affecting prices of fixed income and equity securities (including software) are evaluated. Formulate conclusions and investment strategies from such studies.
- Briefly describe a range of investment concepts which are commonly used by most fund managers.
- Poses the ability to communicate the financial planning approach necessary to meet the financial goals of their clients.
- Present and outline portfolio management process adopted by institutional investors.
- Define and describe the major asset classes and their specific features in meeting investment objectives.
- Have a reasonably good grasp on basic portfolio theory principles.
- Understand the concept of risk management and the trade-off between risk and return in fund management.
- Identify the investment strategies available to fund management with respect to management of equities portfolio, debt portfolio, property portfolio, portfolio of international assets and portfolio of non-traditional assets.
- Describe the principles measuring and evaluating fund managers’ performance. The established criteria for selection of fund managers are outlined.
- Introduction to financial markets and investment environment in Country concerned.
- Brief introduction of economic fundamentals and the impact of their changes on investment.
- Outline the inter-relationship amongst corporate finance, investment and strategic management.
- Application of financial statement analysis in section of securities and derivatives products.
- Concept and computation of EVA and its implication in investment decision with the objective maximizing shareholders’ wealth.
- Understand the application of time value of money and opportunity cost of capital in investment decision.
- Measurement of risk and returns and their implication in portfolio selection.
- Description on the process of portfolio management and usage of various benchmarks in evaluation of performance of funds managers.
- Outline in the alternatives of financing long term investments. Formulation of an optimal capital structure to maximize share prices and to maximize the wealth of shareholders.
- The payment of dividend and its effect in financing decision and risk of the company.
- Relationship and the interaction of financing and investment decision which affect company’s value.
- Introduction to derivative products in Country concerned and their application in financial and investment risk management.
- Describe the type of corporate restructuring exercises such as corporate restructuring, mergers and acquisitions; the common ways of financing such activities.
- Usage of financial calculators in simplifying the various complex calculations. This makes study easier.
- Define the basic concepts and the principles of contract law and relevant issues.
- Outline the application of Country concerned laws in the investment advisory services.
- Describe the licensing requirements of investment advisers and investment representatives in Country concerned.
- Specify the guidelines, characteristics and prohibitions of investment advisory activities.
- Comprehension of the policies, guidelines and regulations governing issuance and offer of securities by Securities Commission.
- Understand the characteristics and regulations with respect to acquisitions and takeovers in Country concerned.
- Illustrate the guidelines and the regulations governing assets valuations bu corporations for consideration by Securities Commission.
Qualifications and Working Experience
Candidates applying must have 3 years of full-time business experience in financial services and related industries. A degree from an accredited educational institution is recognised as one year of business experience.
Minimum Age Requirement
All candidates must be above 21 years of age to apply for the programme.
Candidates may apply for exemptions at the time of registering for the first ChIFP module. Once admitted into the programme, exemptions will no longer be applicable. For a list of approved exemptions, please refer to the NAMLIFA website.
An exemption fee is payable for each module exempted and the maximum number of exemptions that can be granted to each candidate is three modules, regardless of the number of qualifications.
Candidates applying for the ChIFP programme are to maintain active member with NAMLIFA.
For more details on class enrolment, kindly contact NAMLIFA.
How to be a ChIFP designate – Graduating Criteria
Candidates must pass the exemptions and meet all others course requirements for the four modules. Upon graduation, candidates may apply for the ChIFP designation, awarded by APFinSA.
Maximum Period for Completion
To obtain the ChIFP designate, candidates must complete all four modules within five consecutive years. The qualifying time commences in the year in which the first module subject is passed/exempted.
To comply with the high ethical standard expected of Chartered Investment & Finance Practitioner, all holders of the ChIFP designation must sign a statement agreeing to be bound by the Code of Ethics and complete the Ethics course.
Continuing Professional Development (CPD)
ChIFP holders are required to complete a minimum of 30 hours of CPD credits for every two years.
If a candidate has attained his designation in year 2011, his reporting period would be from year 2012 to year 2013. The CPD credits earned per reporting period must be from educational activities in acceptable subject matter. Approved educational activities is available from the secretariat.
Sequence of Examination Attempts
Candidates must attempt the examination s for module 01 to 04 in ascending order.
Number of Attempts Allowed
There is no limit on the number of attempts a candidate can take for each module failed.