Qfa

Roxyb

Does any one know any thing about the QFA?

europerson

There's a lot of information here, if you take a look.

Hitchhiker's Guide to...

tbh, i'd do the CFA qualification - the QFA is only an Irish qualification afaik. CFA is recognised all over the world.

daveirl

This post has been deleted.

mikemac

Roundtower2 wrote: »

tbh, i'd do the CFA qualification - the QFA is only an Irish qualification afaik. CFA is recognised all over the world.

CFA is well respected, no question!
But a 24% pass for Level 1, it ain't easy and probably more than 6 months of study is need. Going for December 08 myself

biopsy

micmclo wrote: »

CFA is well respected, no question!
But a 24% pass for Level 1, it ain't easy and probably more than 6 months of study is need. Going for December 08 myself

micmclo,

i'm assuming by your post that you are not working within financial services in Ireland, and if you are, that you are, then you don't work for a company regulated by the Financial REgulator, and don't have to satisfy Minimum Competency Requirements?

In this case, great, but in the case of most others, this would not be the case, and they would not have the choice between CFA and QFA. QFA satisfies most Miniumum Competency Requirements in Ireland, for those regulated by the Financial REgulator. CFA does not.

mikemac

biopsy wrote: »

micmclo,

i'm assuming by your post that you are not working within financial services in Ireland, and if you are, that you are, then you don't work for a company regulated by the Financial REgulator, and don't have to satisfy Minimum Competency Requirements?

In this case, great, but in the case of most others, this would not be the case, and they would not have the choice between CFA and QFA. QFA satisfies most Miniumum Competency Requirements in Ireland, for those regulated by the Financial REgulator. CFA does not.

I do work in financial services and we are not regulated by IFSRA. Or maybe we are but it isn't an Irish company.
You sir, know your stuff, respect! :cool:
Nowhere in my post did I knock the QFA, it you work for an Irish bank or need it for your career then go for it!

biopsy

micmclo wrote: »

I do work in financial services and we are not regulated by IFSRA. Or maybe we are but it isn't an Irish company.
You sir, know your stuff, respect! :cool:
Nowhere in my post did I knock the QFA, it you work for an Irish bank or need it for your career then go for it!

no worries mate, don't worry, i didn't think you were knocking the qfa. i just wanted to make the point that for most within the industry, it isn't as simple as choosing CFA over QFA because it's not just limited to Ireland, that for most the QFA is what they need to keep their job... all the best mate.

Mikel

biopsy wrote: »

micmclo,
i'm assuming by your post that you are not working within financial services in Ireland, and if you are, that you are, then you don't work for a company regulated by the Financial REgulator, and don't have to satisfy Minimum Competency Requirements?

In this case, great, but in the case of most others, this would not be the case, and they would not have the choice between CFA and QFA. QFA satisfies most Miniumum Competency Requirements in Ireland, for those regulated by the Financial REgulator. CFA does not.

No offence, but that's garbled nonsense. MCRs are not required by everyone in financial services, they are for those who sell retail financial products.
ie people in branches advising on mortgages. Talk to some of these people and you will see it doesn't add up to much. Know the difference between a mortgage and a pension? You've passed!

The CFA has been around 30 years or so in the US, to work as an analyst there you need it. It's become popular here in a monkey see monkey do kind of way, nobody wants to be the only one not doing it.
Many people get a shock, the material isn't hard, but there is a lot of it, and the exams while multiple choice are very difficult and testing.
It's not relevant for many people, and if you have a business degree you'll have seen most of it before.
Serious amount of work involved though

biopsy

Mikel wrote: »

No offence, but that's garbled nonsense. MCRs are not required by everyone in financial services, they are for those who sell retail financial products.
ie people in branches advising on mortgages. Talk to some of these people and you will see it doesn't add up to much. Know the difference between a mortgage and a pension? You've passed!

no offence mikel, but that is garbled nonsense. find where i said that MCRs are required by everyone in financial services? didn't.

Now, to clarify your point that' they are for those who sell retail financial products.
ie people in branches advising on mortgages.'

---

yes they ARE for those who sell retail financial products, but they are NOT ONLY for those who sell retail financial products. MCRs actually apply to individuals who, in

regulated firms:

[Provide advice to consumers, on
retail financial products OR
• Arrange or offer to arrange retail
financial products for consumers
OR
Undertake certain specified
activities

So, no, they don't apply ONLY to people in branches advising on mortgages. In fact, the material in the courses which satisfy MCRs include quoted shares and bonds, consumer credit, pensions, life assurance protection policicies, investments, general insurance among others, so no its not just about mortgages, and that's quite an ignorant statement to make.

and as for your highly educated comment of 'know the difference between a pension and a mortgage and you've passed' is there a particular course that this will pass you for, or will you pass every relevant course which satisfys MCR by knowing the difference between a pension and a mortgage.

so perhaps you should go get your facts straight, and don't try telling me i'm writing garbled nonsense, and try looking a bit closer to home.

Hitchhiker's Guide to...

micmclo wrote: »

CFA is well respected, no question!
But a 24% pass for Level 1, it ain't easy and probably more than 6 months of study is need. Going for December 08 myself

me too! am just going to work off the textbooks rather than go to the classes - fingers crossed!

Hitchhiker's Guide to...

btw apologies re my ignorance of QFA - i was under the impression that they were interchangeable and that CFA was better than QFA. thanks for the clarifications.

justfortherecor

micmclo wrote: »

CFA is well respected, no question!
But a 24% pass for Level 1, it ain't easy and probably more than 6 months of study is need. Going for December 08 myself

Pass rate for Level 1 is actually around 40%
Press Release

Pigletlover

Mikel wrote: »

Know the difference between a mortgage and a pension? You've passed!

:rolleyes:

The older fortmat of the QFA Diploma may have been very easy, but since they've changed it from 4 to 6 modules they have made it a lot tougher.

Roxyb, what exactly is it that you want to know about the QFA?

biopsy

Pigletlover wrote: »

:rolleyes:


Roxyb, what exactly is it that you want to know about the QFA?

Good question pigletlover - we were getting quite off the point!

Mikel

biopsy wrote: »

micmclo,

i'm assuming by your post that you are not working within financial services in Ireland, and if you are, that you are, then you don't work for a company regulated by the Financial REgulator, and don't have to satisfy Minimum Competency Requirements?

In this case, great, but in the case of most others, this would not be the case, and they would not have the choice between CFA and QFA. QFA satisfies most Miniumum Competency Requirements in Ireland, for those regulated by the Financial REgulator. CFA does not.

I stand over what I said. Read it again, that's not even a proper sentence.

So, no, they don't apply ONLY to people in branches advising on mortgages. In fact, the material in the courses which satisfy MCRs include quoted shares and bonds, consumer credit, pensions, life assurance protection policicies, investments, general insurance among others, so no its not just about mortgages, and that's quite an ignorant statement to make.

Er, you mean retail financial products? Oh, so I left out the word 'advise'.
The adviser and the seller would most likely be the same person, no?
Besides I was making a general statement about the target market for the Qfa compared to the Cfa, not making a complete list of everyone it applies to. It was introduced largely in response to mis selling of retail financial products.

and as for your highly educated comment of 'know the difference between a pension and a mortgage and you've passed' is there a particular course that this will pass you for, or will you pass every relevant course which satisfys MCR by knowing the difference between a pension and a mortgage.

That was sarcasm. I was making a point about the relative difficulty of the course. Pass a more difficult course and you'll see what I mean.

While you're at it, you might want to learn what ignorant means

biopsy

Mikel wrote: »

I stand over what I said. Read it again, that's not even a proper sentence.




Er, you mean retail financial products? Oh, so I left out the word 'advise'.
The adviser and the seller would most likely be the same person, no?
Besides I was making a general statement about the target market for the Qfa compared to the Cfa, not making a complete list of everyone it applies to. It was introduced largely in response to mis selling of retail financial products.



That was sarcasm. I was making a point about the relative difficulty of the course. Pass a more difficult course and you'll see what I mean.

While you're at it, you might want to learn what ignorant means

OH MY GOD, get over yourself will you. I can't even believe I'm dignifying your ignorant and petty attitude with a response! So I phrased a sentence badly, so what?! Someone call the grammar police quickly!!

I simply made some points on the misleading information you had given, to clarify it to others who may have an interest in the subject. You don't take this lightly I take it! God I'm glad I don't know you in reality. As for 'pass a more difficult course and I'll see what you mean - I take it you've studied and passed both the QFA and CFA and speak from experience? Oh and the definition of ignorance, I wasn't sure, so I looked up dictionary.com, and it said mikel...

Trapattoni

It's not a competition lads!!

I have found the QFA reasonably easy to be honest. Someone with the right amount of common sense should pass very comfortbaly within 2 years of starting. Have most of mine finished now.


Was just wondering if any of you are Insurance & Investment Managers? I have a few questions... Even if you are not you might be able to answer.

1. Starting pay is at less than 30k yes? Anyone know what commision you would be looking at ie. what is the likely take home pay at year end?

2. What requirements do you know are sought for the role? I have a Diploma in Sales Management and have been studying Stockbroking for the past 2 years.

Cheers

Trap

Mikel

biopsy wrote: »

OH MY GOD, get over yourself will you. I can't even believe I'm dignifying your ignorant and petty attitude with a response! So I phrased a sentence badly, so what?! Someone call the grammar police quickly!!

It wasn't just bad grammar, it was incoherent. If you want to work in sales, communication skills are important. Something for you to work on then.

I simply made some points on the misleading information you had given, to clarify it to others who may have an interest in the subject.

What misleading information did I give?

As for 'pass a more difficult course and I'll see what you mean - I take it you've studied and passed both the QFA and CFA and speak from experience?

That's the beauty of research, you don't need to. The respective curricula are freely available.

Oh and the definition of ignorance, I wasn't sure, so I looked up dictionary.com, and it said mikel...

ZING!! That's me put in my place.

Some free advice, if you want to work in finance, articulacy and clarity of thought are very useful. Especially if I'm interviewing you.

mikeruurds

Could this discussion not be concluded by way of private messages?

I believe the OP posted to find out more information about the QFA qualification.

biopsy

mikeruurds wrote: »

Could this discussion not be concluded by way of private messages?

I believe the OP posted to find out more information about the QFA qualification.

Agreed! It's easy to get dragged down when such trivial small-minded individuals are trying to rise you, but am going to leave it at that. He's really not worth it. Take care, and OP best of luck with ur query.