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Certified International Investment Analyst (CIIA) is a global finance designation offered by the Association of Certified International Investment Analysts (ACIIA) to financial professionals; candidates may be financial analysts, portfolio managers or investment advisors. The CIIA maintains standards both at the national and international levels: ACIIA tests candidates at the local level (at their home country), and, having cleared those country specific exams, at the common international level. Because of similarity in exam structure and difficulty, CIIA is sometimes described as the "European version of the CFA".


Association of Certified International Investment Analysts

The ACIIA is recognised and promoted by both ASIF and EFFAS representing financial analyst federations in Asia and Europe. ACIIA is the international umbrella organisation for national and regional associations of investment professionals representing over 60,000 portfolio managers, analysts, investment advisers, asset managers and fund managers etc. worldwide. ACIIA was formed in year 2000 by two large and world's leading federations " EFFAS" and " ASIF". The third federation
APIMEC
of Brazil joined with ACIIA to offer CIIA program to member countries bringing in a common platform of Knowledge and uniform standards to Investment professionals worldwide. For the constituent analyst societies see under EFFAS and ASIF.


Certified International Investment Analyst

To be awarded the CIIA, candidates must pass two "Common Knowledge" Exams and a third National/Regional Exam, examining knowledge of specific markets. Candidates must also have 3 years relevant experienc

and be a member of ACIIA, as well as of their local or regional society. The exams are taken twice per year and are written at a postgraduate, postgraduate level; they require 18 hours in total, and the recommended preparation time is about 900 study hours. Th
Common Knowledge Exams
consist of four papers at the "Foundation level", and two at the "Final level". The foundation level papers, in turn, comprise multiple choice, calculation, discursive and short essay questions. The final level exams comprise
case studies A case study is an in-depth, detailed examination of a particular case (or cases) within a real-world context. For example, case studies in medicine may focus on an individual patient or ailment; case studies in business might cover a particular fi ...
and in-depth essays. The topics covered at both levels are: *
Equity Equity may refer to: Finance, accounting and ownership * Equity (finance), ownership of assets that have liabilities attached to them ** Stock, equity based on original contributions of cash or other value to a business ** Home equity, the dif ...
valuation and analysis; * Financial accounting and
statement analysis Statement analysis, also called scientific content analysis (SCAN), is a technique for analyzing the words people use to try to determine if what they said is accurate. Proponents claim this technique can be used to detect concealed information, mis ...
; *
Corporate Finance Corporate finance is the area of finance that deals with the sources of funding, the capital structure of corporations, the actions that managers take to increase the Value investing, value of the firm to the shareholders, and the tools and anal ...
; *
Fixed income Fixed income refers to any type of investment under which the borrower or issuer is obliged to make payments of a fixed amount on a fixed schedule. For example, the borrower may have to pay interest at a fixed rate once a year and repay the prin ...
valuation and analysis; * Economics; * Derivative valuation and analysis; * Portfolio management. The
National / Regional Exam
is set by the individual societies and examines specific knowledge of local markets and standards. Topics covered: * Regulation; * Ethics * Financial statement analysis; *
Market structures Market structure, in economics, depicts how firms are differentiated and categorised based on the types of goods they sell (homogeneous/heterogeneous) and how their operations are affected by external factors and elements. Market structure makes it ...
and instruments.


Legal and other recognition

The CIIA is variously recognised as regards regulatory requirements or educational /exam exemptions: * The CIIA qualification is recognised as a key 2 qualification in the UK by the Financial Services Skills Council. * Membership of Securities & Investment Institute (SII) with 3 years of Professional experience for CIIA diploma holders for full membership (MSI). SII is also a part of the ACIIA network. * The ACIIA has an awarding body status in the UK and CIIA qualification to be included on the appropriate examinations list for seven relevant activities that are regulated by the FSA (Financial Services Authority) in the UK. * The Securities Analysts Association of Japan (SAAJ) offering the prestigious Japanese qualification CMA has given exemptions to common exams and CIIA holders have to give only regional or local exams covering only national topics. * Securities and Futures Commission of Hong Kong (the equivalent of SEC for USA) recognises CIIA holders for Test of Competence and for fulfilling regulatory requirements. *
Hong Kong Securities and Investment Institute Hong may refer to: Places *Høng, a town in Denmark *Hong Kong, a city and a special administrative region in China *Hong, Nigeria *Hong River in China and Vietnam *Lake Hong in China Surnames *Hong (Chinese name) *Hong (Korean name) Organiz ...
(HKSI) is a part of ACIIA network offering the CIIA qualification and also membership to CIIA holders. * The CIIA fulfils the regulatory requirements of the Polish Securities and Exchange Commission for registration as a licensed securities broker or investment adviser. * CIIA holders are recognized by PRMIA (
Professional Risk Managers' International Association The Professional Risk Managers' International Association (PRMIA) is a non-profit, member-driven professional organization that focuses on the development and education of the risk management profession. Its membership provides a network of risk ...
) as the equivalent of passing first two required exams. *
Life Office Management Association LOMA, (formerly the Life Office Management Association) and LIMRA (formerly Life Insurance Marketing and Research Association) under the umbrella organization LL Global is one of the largest trade associations in the U.S. insurance industry. LOM ...
(LOMA), an international association of Insurance and Financial services companies headquartered in the US, has recognised the CIIA designation for Professional Achievement Credits (PACs) in it
Fellow, Financial Services Institute
(FFSI) Programme. * IFBL (Institut De Formation Bancaire Luxembourg) in association with
PWC PricewaterhouseCoopers is an international professional services brand of firms, operating as partnerships under the PwC brand. It is the second-largest professional services network in the world and is considered one of the Big Four accounting ...
recognises CIIA diploma holders for their Certified Private Banker program Certified private banker
/ref> giving exemptions from attending tuition blocks for (i) Legal and Regulatory Framework and (ii) Portfolio Management, as well as for specific examinations.


References

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External links


Official Website of ACIIAEFFASASIFAPIMEC
Professional certification in finance Investment