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Examination

EXAM POLICIES AND PROCEDURES OF AMERICAN ACADEMY OF FINANCIAL MANAGEMENT INDIA PRIVATE LIMITED (AAFM INDIA) ACCREDITED FINANCIAL ANALYST® (AFA®)

 

OVERVIEW

AFA® Examination

Exam Name

Units Tested

Centres

Exam Date

Exam Language

Duration

Exam Fees

Enrolment Through

AFA Level-I

1-5

Pearson Vue Centres

10th to 20th of every Month

English

115 Minutes

Rs.4600

Enrolment through
AAFM Website
and scheduling 
Through Pearson Vue 
pearsonvue.com

AFA Level-II

6-10

Pearson Vue Centres

10th to 20th of every Month

English

175 Minutes

Rs.6900

Enrolment through
AAFM Website
and scheduling 
Through Pearson Vue 
pearsonvue.com

Note:

  • Candidates should fill the online exam form and submit the fees to American Academy of Financial Management India Private Limited (AAFM India)
  • Exams can be scheduled through Pearson Vue for 10th to 20th of every month.
  • Candidates can schedule the exams on the Pearson Platform only between 1st to 10th and 10th to 20th of every month i.e. during the exam delivery dates 10th to 20th of every month candidates will not be able to schedule exams on Pearson Vue.

 

Grading of Exam:

Passing percentage for AFA® Examination is 50%.

Each candidate would be graded as per the score achieved in the examination:

 

PERCENTAGE

GRADE

More than 76%

A

65% to 75%

B

50% to 64%

C

0% to 49%

F

 

Exam Scheduling Process:

  • Exams can only be scheduled after 30 days of registration with AAFM India for Level 1 and Level 2 Exam can be Scheduled after 30 Days of clearing Level 1
  • Candidate can only enrol for level II examination after clearing Level 1 Examination
  • Candidate fills the exam form on the AAFM Website (Student Account) and pays the requisite fees online.
  • On approval from AAFM India, the candidate receives a welcome mail from Pearson Vue and a Web Account is Auto Generated with Pearson Vue. This mail would have the candidates Log in Id and Password.
  • The candidate also receives “Authorization to Test” Email form Pearson Vue which besides other information gives information on how to schedule an examination on Pearson Vue Network.
  • The candidate either through online mode or through the help of the Pearson Vue Call Centre schedules an examination for only 10th and 20th of every month.
  • A candidate can schedule examinations any time of the month except 10th to 20th of the month and the test taking dates are only 10th to 20th of the month.
  • A candidate practices the exam on AAFM Website to make themselves familiar with the look and feel of the exam.
  • Candidates are required to carry a Photo ID and an ID carrying their signatures along with the copy of Exam Confirmation Mail received from Pearson Vue to the examination centre. (List of Acceptable ID,s is mentioned below)
  • Candidate need to agree to a Non-Disclosure Agreement at the start of the exam.
  • Candidate takes the exam at Pearson Vue Test Centre
  • Exam result is shown to the candidate immediately after submitting the exam.
  • Candidates are allowed to take a print out of the exam result.
  • On clearing of Level-II exam candidate needs to fill the AFA® Certification form and pay the requisite fees to AAFM India. Candidate submits the project work within the given time frame on approval of the project work the Candidate receives the AFA® Certification.

Exam Pattern:

Exam Pattern AFA® Level I (Foundation Level)

The Table sums up the section wise marks distribution AFA Level I (Foundation Level) Examination

Sections

Section A

Section B

Section C

Passing Criteria

 

 

Marks

No. of Questions

Total Marks

No. of Questions

Total Marks

No. of Questions

Total Marks

50 % i.e. A score of 50 in the examination

(there is no negative marking)

1

30

30

0

0

0

0

2

0

0

30

60

0

0

4

0

0

0

0

20

80

Total

30

30

15

60

20

80

AFA Level 1 Examination

Total Question

80

Total Marks

170

 

Testing Significance of each Unit in AFA® Level I (Foundation Level)

Questions

Marks

Unit No.

Name  of the Unit

Unit Weightage

1 Marks

2 Marks

4 Marks

Total

UNIT 1

Introduction to Financial markets

15%

5

5

3

12

27

UNIT 2

Quantitative Techniques and Methods

20%

6

6

4

16

34

UNIT 3

Financial Statement Analysis

25%

7

7

5

20

41

UNIT 4

Corporate Finance

25%

7

7

5

20

41

UNIT 5

Fixed Income Security Analysis

15%

5

5

3

12

27

30

30

20

80

170

 

Exam Pattern AFA® Level II (Advanced Level)

The table sums up the section wise marks distribution AFA Level II Examination

Sections

Section A

Section B

Section C

Passing Criteria

 

 

Marks

No. of Questions

Total Marks

No. of Questions

Total Marks

No. of Questions

Total Marks

50 % i.e. A score of 80 in the examination

(there is no negative marking)

1

40

40

0

0

0

0

2

0

0

30

60

0

0

5

0

0

0

0

20

100

Total

40

40

30

60

20

100

AFA Level 1 Examination

Total Question

90

Total Marks

200

 

Testing Significance of each Unit in AFA® Level II (Advanced Level)

Question Breakup

Unit No.

Name  of the Unit

Unit Weight

1 Marks

2 Marks

5 Marks

Total Marks

UNIT 6

Equity Valuation

25%

10

8

5

51

UNIT 7

Derivatives and Alternate Investments

15%

6

5

3

31

UNIT 8

Portfolio Management Strategies

20%

8

6

4

40

UNIT 9

Behavioural Finance

15%

6

4

3

29

UNIT 10

Advanced Financial Analysis

25%

10

7

5

49

100%

40

30

20

200

 

The marks signify the difficulty level and time consumption in solving the question.

The Advanced Financial Analysis questions would be in form of case study in built in the examination.

 

Permitted Accessories

Students are only permitted to use “CASIO FC 200 V” Financial Calculator in the examination. No exchange of accessories will be permitted during the examination.

  • Students are not allowed to carry any paper during the examination.
  • Students are not allowed to carry Laptop, Palmtop, Log Tables, and Annuity Tables etc.
  • Students are not allowed to use Calculators in their Mobile Phones.
  • Mobile Phones are to be compulsorily kept ‘switched off’ during the examination

Examination Results

Results will be declared by the system itself once the student clicks the ‘Submit’ button after the Examination is completed or if the Examination duration is elapsed the system will treat the answer sheet as submitted and result will be displayed on the screen. Students have the option of taking a printout of their result at the test centre after the Examination.

 

Major Examination Policies

1. Confidentiality Policy

Title: Exam GuidelinesAAFM India strives to maintain the confidentiality of exam result of all the unsuccessful candidates. The results would be uploaded in the individual account of the candidate at the AAFM Website once in a fortnight. The intimation to successful candidates in Level II Advanced Level would be sent by mail requisitioning the candidate to apply for the AFA® Certification. Once the Candidate applies for the certification project work is sent. On submission and acceptance of the project the candidate’s details would be forwarded to AAFM USA for issuance of the Certification.

Any documents submitted by the candidates at centre, viz. rough sheets, back-up sheets, feedback form, etc. are the property of AAFM India. They shall not be subject to any public scrutiny. The same is to preserve the confidentiality of candidate specific information. These are also required for gathering useful information to strengthen our examination system.

No question/s or part of the paper which appear on the computer terminal should be copied from the test screen and/or taken out of the examination hall as it shall lead to disqualification of the candidature. In case of serious ambiguity in a question item, the same should be noted down only with the specific approval of exam coordinator in his/her presence. The replies to such queries would be sent without subverting the confidentiality of test items, within 7 days of the receipt of related documents from the Exam Administrator.

2. Non-discrimination Policy

AAFM India follows a policy of non-discrimination among candidates who appear for any AAFM examination. The on-line testing medium, algorithm used, facilities provided in terms of on-line content and testing and threshold criteria are the same for all candidates. On the strength of the aforesaid, there is no discrimination of any kind among the eligible candidates on the basis of pathway or mode of examination chosen, sector, region, caste, religion, age, gender, or on the basis of additional qualification and experience than those mandated for specific pathway, or on the basis of the allegiance of candidates to institutional entities or authorized educational entities.

3. Review and Appeals Policy

Specific query related to a particular question, if any, should be pointed out by the candidate during the course of the examination to the test coordinator at the test centre. For this the candidate is expected to submit his/her query in writing to the test coordinator after completing the examination, while submitting all other examination related documents. Subsequent queries through mail or post to AAFM India shall not be entertained.

4. Exam Discipline

AAFM India would treat the instances of resorting to unfair means or malpractices noticed during examination very seriously and any candidate found doing so will be expelled from taking the examination and his/her candidature shall be cancelled.

5. Rescheduling and Cancellation Policy

Exams once scheduled cannot be cancelled for any reason whatsoever.

If the candidate after paying the examination fees to AAFM India does not schedule the exam at Pearson Vue during the registration eligibility period the fees paid would not be refunded nor would be adjusted further. On registration renewal with AAFM India the candidate would be required to pay the examination fees again.

Rescheduling of Examination is possible 48 hours prior to the examination on payment of Rs. 1127 to Pearson Vue. Rescheduling of examination is not allowed if the time to examination is less than 48 hours.

Candidate not appearing at the examination centre on the scheduled examination would be treated as absent and the fees would not refunded back.

Retake Policy:

Candidates will be allowed to book retake after 10 days, regardless of whether the candidate failed or passed the previous attempt.

Examination Policies: 

Standard Primary IDs (with both Photo and Signature)

·         Driver’s license

·         Passport

·         Election card/Voter ID

·         PAN card

·         Photo identity issued by a school, college or university

·         Admit card of any national/state exam issued in 2012 or 2013

·         UID/Adhar card

·         SC/ST certificate with photograph

·         Employee ID with photo and signature

Standard secondary IDs (with Signature)

·         Any primary ID

·         Credit card

·         ATM card

Names on ID’s must exactly match those given by the candidate during registration. Discrepancies on ID’s that are due to typographical errors, traditional & cultural variations, and technical limitations must be reported by candidates to AAFM who will need to inform Pearson VUE as soon as possible.

Candidates are required to carry original id .Copy of ID is not acceptable proof.

Candidates will also be required to produce the appointment confirmation letters received from Pearson VUE after scheduling their test.

1. Late Arrivals and No-shows

The standard arrival policy of 30 minutes was agreed where-by the candidates must arrive 30 minutes before the exam to their test center. Late arrival period of upto 30 minutes is allowed. If the candidate does not arrive within this period, and the test center is unable to accommodate him or her later, the candidate will be turned away and marked as a No-show.

2. Erasable note board/booklet

Candidates will receive one erasable note board & a pen to use for rough work during the exam.

3. Exhibits, personal items, Calculators

·         Candidates will be allowed to have an erasable note board and a pen inside the testing room.

·         Only “Casio FC 200V” – Financial Calculator will be allowed.

·         Candidates will not be allowed to take mobile phones, headphones or any personal items / exhibits into the testing room.

4. Break policies

·         AAFM exams will not have any scheduled breaks

·     Candidates can access personal belongings during unscheduled breaks limited to essentials such as medicines but no access to texts or printed materials should be allowed

Decisions of AAFM India in all matters pertaining to the examination shall be final and binding.

 

The AFA® Examination is held across India across 75 Cities and Globally across 200 Cities spread over 27 Countries.

To Locate an Examination Centre nearest to you: Click Here

 

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