Series 7 vs. CFA level I

Discussion in 'Professional Trading' started by theguest666, Jun 17, 2009.

  1. I'm currently studying for the CFA level I but also would like to prepare for the Series 7 if hired by a trading firm. I hear that there's a bit of overlap in material in both exams.. can anyone confirm?
  2. CFA exponentially harder. I'm sure there is some overlap, i've passed both and I don't really remember.

    series 7, just learn options, muni's and the SEC act of 33 and 34 I think were big topics

    CFA more CAPM stuff.

    i am 100% sure neither will help you trade.

    series 7, then u sell like a used car salesman

    cfa, write research reports
  3. pupu



    CFA1 is much harder. Much more material.

    You should have your employer pay for these as paying to get them to improve your market value is of little value.
  4. OttoMann


    There is little overlap other than they deal with financial topics. You should be able to pass the Series 7 with a couple weeks of studying. Know some definitions, some options, some regulations and you'd do fine.

    The CFA exam is entirely different. It tests your knowledge of ethics/ quant/ accounting/ econ/ equity/ fixedinc/ derivatives and portfolio management. Much more in depth.

    I passed both. Studied about 10 hours for Series 7 about 150 hours for CFA level 1.
  5. I have a CFA and Series 7 - though my 7 expires next week.

    CFA (any level) infinitely mroe difficult that the 7. Sure there is a little overlap but I think 7 (took it in 2002) is much more regulatory than CFA.
  6. :p

    Don't compare the two.

    I'm currently doing my level I CFA.... That test is 100000 times harder than the Series 7. Series 7 is a joke and only necessary if you work at a broker-dealer where you interact with clients. The hedge fund world and prop traders no longer need a Series 7. Plus you need to be sponsored by a firm.

    There is a 33% passing rate for the CFA Level I... and there are a total of 3 levels. CFA is a international credential and you are competng against the studious Chinese and Indians... still 67% fail. I only plan on completing Level I.

    Just google to understand the differences.

    BTW, early registration for CFA Level I is $1,000 so it is expensive. More importantly, the CFA won't make you a profitable trader.... but it sure will make you very knowledgable. Your credibility is also higher in the job market.
  7. Honestly I learned a lot studying for the CFA but I think it's a waste at this point. The financial industry is in shambles and I have little faith it will resemble anything close to what it was 2 years ago over the next 10 years. Does the CFA help you some job wise? Maybe, but just a little. The guys that have it love for others to get it but the guys that don't have it could care less. Do some top notch people have it? Yes - but my guess is that most of the Stevie Cohens, PTJs etc don't care.

    If I had it to do over again, I would have spent the time studying for an MBA - and even though I know that too is overrated I think it has more pull in the real world.
  8. riskymove...

    I couldn't agree with you more
  9. LEAPup


    Great post bro! I agree. I have the S7, and S66. The CFA and S7 are WORLDS apart! Level I CFA is harder imo. I passed the CFA I, and failed CFA II:(

    Oh well...
  10. I spent a month studying for the CFA before ditching it. Felt like college all over again, studying for something you'll never really get to apply like it's shown/taught in the material. Big bragging right, kinda like an economist with a Ph.D. Totally broke, but overly educated with inapplicable knowledge. Time is better allocated to other things...
    #10     Jun 21, 2009