Celebrating 50 Years of the CFA Charter

CFA Institute
  1. 1990s

    22,666 CFA charters are earned this decade.

  2. 1990

    ICFA and Financial Analysts Federation merge to form Association for Investment Management and Research.

  3. 1993

    New Body of Knowledge incorporated into Level I.

  4. 1994

    Global Body of Knowledge Task Force formed to expand CFA Program to include global content to the exam.

  5. 1995

    First Practice Analysis (then called Job Analysis) conducted.

  6. 1996

    CFA Level I exam becomes 100% multiple choice. 24,600 candidates sit for the CFA exams in 151 exam centers. 387 graders.

  7. 1996

    Learning Outcome statements introduced to the CFA Curriculum.

  8. 1996

    Scholarship Program established for those wishing to take the CFA examinations but unable to do so because of cost.

  9. 1999

    North America Securities Administrators Association requirement that licensing exams for doing business as an investment adviser is waived for CFA charterholders.

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