Q: What are the entry qualifications for the CCM program?
A: The minimum entry qualification is passing of the GCE Advanced Level. However, preference will be given to those with a bachelor’s degree or professional qualifications in finance or accounting from recognized institutions. Any other degree or professional qualification with a minimum of three years work experience in the financial industry acceptable to the FSA will also be considered. The entry to the program will be selective and limited.
Q: Are there any other minimum qualifications acceptable to the FSA other than GCE A/L in order to register for the CCM program?
A: No. The minimum qualification is passing of the GCE A/L. This is an absolute minimum, and no waivers will be given from this minimum qualification.
Q: What are the entry qualifications for RIA?
A: A person must have obtained the CCM before proceeding to Module 4, Financial Planning and Advising, which is one of the two pre-requisites to become an RIA. The second pre-requisite is the completion of one year of relevant experience.
Q: Are there any other qualifications acceptable to the FSA other than successful completion of the CCM in order to register for the RIA?
A: Yes. The only qualification that is granted exemptions from the CCM is the passing of Level I of the CFA program. However, even those who have passed CFA Level I will have to pass FSA Series 4 Examination and have one year relevant experience to become and RIA.
Q: What are the entry qualifications for the DCM program?
A: There are three ways to enter the DCM program:
- The CCM holders with three years of industry experience
- RIAs with additional two-years of industry experience
- People with a bachelor’s degree or full professional qualifications in accounting, finance, business and law with a minimum of five years of post-qualifying experience in the financial sector.
Q: If I have a bachelor’s Degree what are the exemptions I could get?
A: None. There are no modular exemptions for any bachelor’s degree.
Q: I have completed the first module of the Certified Investment Advisor course conducted by the CSE. Where do I stand in terms of the CCM?
A: You will not receive any exemption. You need to register for the CCM program, complete all the requirements laid out to become an RIA.
Q: I have completed few subjects in the first module of the Certified Investment Advisor course conducted by the CSE. Where do I stand in terms of the CCM?
A: You will not receive any exemption. You need to register for the CCM program, complete all the requirements laid out to become an RIA.
Q: I have completed the first module and few subjects in the second module of the Certified Investment Advisor course conducted by the CSE. Where do I stand in terms of the CCM?
A: You will not receive any exemption. You need to register for the CCM program, complete all the requirements laid out to become an RIA.
Q: I have completed both Modules of the Investment Advisory course conducted by the CSE. How can I obtain the CCM qualification?
A: If you have completed all the requirements for Certified Investment Advisor course of the CSE, you would have already been given the Certified Investment Advisor status. You have to complete continuing professional education (CPD) modules that will be specified by the FSA to obtain the CCM.
Q: I have completed both Modules of the Certified Investment Advisor course conducted by the CSE and obtained the license. How can I obtain the RIA designation?
A: You will have to complete CPD modules that will be specified by the FSA to get obtain the RIA status.
Q: I am a Certified Investment Advisor licensed by the CSE. Do I have to obtain the CCM?
A: No. You do not need to obtain the CCM. But if you wish to have the CCM then you have to complete the CPD requirements that will be specified by the FSA. Upon completion of CPD requirements you will be awarded the CCM.
Q: I am a Certified Investment Advisor licensed by the CSE. Do I have to obtain the RIA?
A: Yes. You have to obtain the RIA status. In order to achieve this you have to complete the CPD requirements that will be specified by the FSA. Upon completion of CPD requirements and with evidence of one year relevant experience you will be awarded the RIA status.
Q: I am a Certified Investment Advisor licensed by the CSE. Within which time period do I have to complete the CPD requirements to obtain the RIA?
A: You have two years from June 2008 to complete the CPD requirements and obtain the RIA status.
Q: What is meant by “relevant experience” for the RIA?
A: The relevant experience is working as an investment advisor trainee in the case of new applicants, or investment advisor in the case of existing applicants in one of the 15 stock brokering firms in Sri Lanka.
Q: What is meant by “relevant experience” for the DCM?
A: The relevant experience is working in some capacity in the securities industry or in some capacity that is closely related to the securities industry. Experience will be evaluated on a case-by-case basis.
Q: Can I work as an investment advisor in a stock brokering firm before obtaining the RIA?
A: No. You can work as an investment advisor trainee under an RIA until you obtain the RIA status.
Q: When will the FSA commence the second batch of the CCM program?
A: Applications will be called in January 2009. Lectures will be from March 2009 to June 2009. The exam for FSA Series 1 will be in July 2009.
Q: When will the FSA commence the DCM program?
A: Applications will be called in June 2009. Lectures will be from Sep 2009 to Dec 2009. The exam for FSA Series 5 will be in January 2010.
Q: What is the duration of the CCM program?
A: Minimum one year. The three modules can be completed in one year.
Q: How long will it take to become and RIA?
A: Minimum one and half years. The actual duration depends on when you complete the one year of relevant experience. It takes one and half years to complete the four modules required for the RIA. If you already have the experience by the time you complete the four modules, then you can immediately obtain the RIA status. |
