What is a CFA and CFP and what are their full forms?

Question

What is a CFA and CFP and what are their full forms?

Answer 1

Michael C got the big parts right (though, as he mentioned, using CFA as a noun would be an ethics violation, so we'll just ignore the "sources" part of his answer).  I am currently a candidate in the CFA program, and hope to earn the CFA designation.

Actually, to be honest, he seems to be a bit out of date - I get the impression he doesn't use his Charter anymore.

The Chartered Financial Analyst designation is awarded by the CFA Institute to those who have 4 or more years of work experience in the "investment decision-making process" and have successfully completed the Level I, II, and III examinations.  The designation is one of the harder ones to achieve, given the pass rates of the 3 exams - Level I typically has a pass rate in the 30-40% range.  All levels of the exam are offered in early June, while Level I is also offered in early December.

While an analyst who holds the CFA designation is not necessarily any more skilled or adapt than his college who has not earned the Charter, the designation has become a requisite for some hiring managers, who believe that the rigor of the program says something about those who choose to complete it.

The Certified Financial Planner designation is a professional certification program geared toward personal finance specialists.  Generally, many people see the CFP as an important designation for financial planners or advisers.  While not as technically challenging as the CFA program, CFPs must demonstrate competency and a commitment to uphold professional standards.

Answer 2

Michael C is right on for more detailed information you can check out http://www.marketstock.net

Answer 3

A CFA is a Chartered Financial Analyst. It requires 3 exams take annually in June. It is a designation run by AIMR (Association of Investment, Management and Research). You must be an active member of this industry to obtain and keep the CFA designation. CFA is not a noun. A person is not a CFA they have the CFA designation. Obtaining a CFA designation can be one of the most challenging tasks a financial person can take on. The exams take months to prepare for and if you fail you have to wait till the next June to re-take.

A CFP is a Certified Financial Planner. I'm not sure who administers the exams. This allows you to make certain financial recommendations to clients. Unlike the CFA a person becomes a CFP, its not just a designation.

I hope this helps.