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| LIFA Exam Program - International Research Association | ||||
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The Designation | |
The LIFA Exam | |
Newsletter | |
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| Fee Schedule | |
About the Exam | |
Waiver Program | |
Exam Locations | |
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 Frequently
Asked Questions & LIFA Advantages |
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Q: Why do I have to pay the Prometric fee if I have qualified for the scholarship?
A: As it states in the Scholarship release, "LIFA candidates are responsible for the discounted Prometric exam center fee, which varies by country. Prometric will help you schedule the LIFA exam date and location that is most convenient for you at one of over 3,500 exam centers worldwide." The fees will be clearly noted when you schedule your exam with Prometric. The vast majority of exam center fees range from $49 to $125.
As you can imagine, it would be most difficult for Prometric to offer secure, computerized exam centers in your country for no charge. The International Research Association does not collect any portion of the exam center fee.
Q: I am having a problem scheduling my exam on the Prometric site.
A: If you are experiencing errors or problems, please contact Prometric's Regional Registration Center.
If Prometric is not recognizing your ID or you cannot schedule the correct exam Level, send us an email immediately. Please include as much detail about the problem you are encountering as possible.
Q: What is the format of the LIFA exam?
A: The LIFA exam is taken as a single exam of 200 multiple choice questions, given in a single 4 hour sitting at a Prometric exam center of your choice. An additional 15 minutes is allotted for a pre-exam tutorial, and a post-exam survey, so total “seat time” is 4.5 hours. There are no "papers" like other exam programs, but there are a number of subject areas included in the exam that you must prepare for. All Prometric test centers are equipped with computers, as computer-based testing is the primary service and benefit offered by Prometric.
Q: Does my LIFA scholarship apply to other educational programs?
A: The International Research Association does not provide tuition scholarships for educational programs other than its own LIFA Program. The LIFA (Licensed International Financial Analyst) designation is designed for securities analysts, portfolio managers, investment advisors, educators and other investment professionals throughout the world. The LIFA exam is one of the most rigorous exams given for investment professionals, leading to the LIFA designation's elite status.
Q: How do I pay my Prometric fee if I do not have a credit card?
A: A new payment option for LIFA Program and Prometric fees has been made available for LIFA candidates who do not possess a credit card. LIFA candidates may now submit payment for Prometric exam scheduling via wire transfer. Please contact us for wire transfer details.
Q: What study materials are available for the LIFA exam?
A: The study materials listed under "Suggested Study Sources" in the Curriculum Guides are provided as resources for you to turn to if necessary to study the LIFA curriculum and its Topics to Master. Candidates are not required to purchase any of the books.
Ultimately, you must decide what you need to use to effectively study for the LIFA exam, and the suggested study sources found in the Curriculum Guide will give you some other options.
Finally, material covering almost all of the Topics to Master for the LIFA exam (or most any exam, for that matter) can be found online for free. In fact, searching, analyzing and assimilating the material in this manner has proven to be an excellent method to retain the knowledge.
Q: What is the primary and most important advantage of the LIFA designation?
A: Much like the elevation of status from a Master’s degree to a Doctorate, the LIFA designation is developed to be the elite designation for a select group of global investment professionals.
The LIFA Program is the most exclusive and rigorous program for investment professionals. Attainment of the LIFA designation and membership in the LIFA Program requires passing three stages of demanding examinations that demonstrate a level of knowledge beyond that accomplished in an MBA, CFA, and CPA program.
Q: What are other benefits of the LIFA designation?
A: Other major and measurable benefits of the LIFA designation include:
Q: Who should take the LIFA exam?
A: Any student or investment professional currently working or desiring work in any of the following industries:
Q: How was the LIFA Program started?
A: The International Research Association was formally established in 2001 as a collaborative enterprise led by Lawrence Allen, capitalist in the highly-competitive businesses of real estate and publishing. However, the groundwork was strategically conceived, studied, and designed in the late 1900’s. The original aim was to develop a specialized finance and investment designation for candidates throughout the world.
Educators, practitioners, and students became enthralled with the endeavor, and various strategic initiatives were implemented from the formation of the Licensed International Financial Analyst Program onwards. Hence, the early aims of the International Research Association could be summarized as follows:
In adopting these objectives, the International Research Association has committed itself to a long-term program of finance and investment curriculum development with a strong emphasis on affordability, examination objectivity, and international reach. This emphasis has been maintained throughout the subsequent years of the LIFA Exam Program’s development, and is reflected by the burgeoning number of present day registrants and board membership of international finance and investment professionals, representing 108 countries.
Q: Who is eligible for a LIFA exam Scholarship?
A: You may be eligible to bypass
the Stage I and II Licensed International Financial Analyst exam, and sit for
the Stage III LIFA exam.
The LIFA exam waiver is available to professionals
worldwide.
Q: How do your pass rates compare with other exams?
A: The Level I CFA pass rates averaged over 80% the first two years it was administered. We expect that the pass rates for the Stage I LIFA exam will be comparable.
Similarly (for waiver candidates), the first two Level III CFA pass rates averaged over 94%. We expect that the pass rates for the Stage III LIFA exam will be comparable.
Q: How do I register and enroll for the LIFA exam?
A: All prospective LIFA candidates must register with our secure on-line registration. You may use a credit card or wire transfer.
Q: Is it easy to contact and communicate with the International Research Association?
A: Yes, because of the efficiency and speed of the internet/email, we can provide answers to most questions very promptly. Obviously, this also saves costs, thereby keeping fees lower.
We can address our candidates' issues most efficiently via email from anywhere on the globe. We do not have the expense and inconvenience of telephone operators "standing by" and telephone systems in large office buildings, waiting for a phone call that may or may not happen. Now that we are well into the age of email, we are able to service our candidates' needs electronically, handling email communications virtually 24 hours a day, 7 days a week. As always, contact us with any questions.
Q: Will I receive a LIFA Exam Curriculum Guide?
A: You may view the LIFA Exam Curriculum Guides here. The Curriculum Guides include exam administration specifics, required knowledge-based curriculum and LIFA exam study sources.
Q: How does the LIFA exam compare to other exams?
A: Please see details of the LIFA exam differences.
Q: As a LIFA candidate, may I become an International Research Association member?
A: Yes, please see membership details here.
Q: Does my registration fee expire?
A: Registration fees are paid (or minimized if you enroll under the Scholarship Program) when you enter the LIFA program. The registration period is fully disclosed to all candidates, and vary depending on the registration and enrollment terms when you register.
Q: I am not in the United States or Canada. Do I have to pay a surcharge to sit for the LIFA exam?
A: Since the International Research Association is an international organization, we do not impose any surcharges or tariffs on any LIFA candidate. This has not been true with other exams.
Q: When will I receive my LIFA exam center ticket?
A: There are no exam tickets, per se. All LIFA candidates must schedule their exam appointments with Prometric, and will receive logistical information about their exam center upon making their appointment. Candidates are strongly encouraged to read the informational notice about the exam during the scheduling process, as it contains valuable information on what to bring to exam centers.
Q: After I take an exam, when will I receive my LIFA exam results?
A: LIFA exam results are available to candidates within 30 days of the exam date. You will be notified via email.
Q: Does the International Research Association have a Call for Papers Program?
A: Yes, please click here for details.
Q: After the LIFA designation is awarded, is there a continuing education requirement or annual dues?
A: There is not a continuing education requirement, nor are you required to pay any local club or chapter fees. International Research Association membership policies, professional ethical standards, and annual dues (currently $275) must be maintained in order to retain full LIFA charterholder status. All charterholder dues are maintained on a calendar-year basis. Any charterholder dues paid during the 4th quarter of any given year will also be applied toward the following year's dues.
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