Financial Analysts Certification Level 2

Objective of the Examination

This Certification Exam is specifically designed to meet the minimum qualification needs of the financial market participants at brokerage houses, investment advisors, banks and asset management companies with investment analysis and modelling function and to ensure that they are competent to provide research/financial analysis to investors.


This certification is mandatory for Research/Financial Analysts working at Brokers, Investment Advisors, Banks and Asset Management Companies.


The unit is divided into elements. These are broken down into a series of learning objectives. Each learning objective begins with one of the following prefixes: knowunderstandbe able to calculate and also be able to apply. These words indicate the different levels of skill to be tested. Learning objectives prefixed:


–        know require the candidate to recall information such as facts, rules and principles

–        understand require the candidate to demonstrate comprehension of an issue, fact, rule or principle.

–        be able to calculate require the candidate to be able to use formulae to perform calculations

–        be able to apply require the candidate to be able to apply their knowledge to a given set of circumstances in order to present a clear and detailed explanation of a                 situation, rule or principle


  • Circular 11 of 2017. 


Each examination paper is constructed from a specification that determines the weightings that will be given to each element. The specification is given below.

It is important to note that the numbers quoted may vary slightly from examination to examination as there is some flexibility to ensure that each examination has a consistent level of difficulty. However, the number of questions tested in each element will not change by more than plus or minus 2.

Element No. Elements Percentage%
1 Quantitative 10
2 Economics 10
3 Financial Reporting 10
4 Corporate Finance 10
5 Equity 15
6 Fixed Income Securities 15
7 Derivatives 10
8 Portfolio Management 20
  Total 100
Assessment Structure 
  • This will be a 150 minutes examination of 100 Multiple Choice Questions (MCQs).
  • All questions will carry equal marks.
  • There will be no negative marking.
Examination Preparation/training option

On the request of the candidates registered for IFMP Financial Analysts Certification, IFMP has initiated the step for approved training provider for the Financial Analysts Certification Examination Preparation with Arif Irfanullah, CFA (

For further details please see: click here.

Summary Syllabus

To download the outline of Financial Analysts Certification Level 2 Exam, please click here.