CFA vs CBV

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wbavly

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After taking level 1 I was thinking of taking the CBV program and looked online to judge how hard it was. I saw debate, I saw contention, I saw people state that the CBV was really hard…
I just passed CFA level 3 and am part way through the CBV program.
I studied about 500 hours on average for every level of the CFA and felt like I barely squeeked by.
I studied about 25 hours for CBV and its a cakewalk.
End of comparison. CFA reigns supreme in difficulty.
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Just as an aside. A few friends of mine that took the CFA and CPA (Canadian CA and American CPA) swear that the there is no comparison there either and that the CFA is way harder to complete HANDS DOWN. But I think that would be contested by some. I hear that the CA in some countries is impossible (South Africa being one).
 
Very helpful, thanks!
Do you think it is wise to puruse CBV after CFA if interested in corporate finance or ibanking?
 
Chartered Business Valuator.
A Canadian designation similar to ASA for Americans I beleive
 
^Yeah, I remember looking this up after somebody posted something similar in another thread. It’s the Canadian equivalent of the ABV or ASA or CBA.
I took the first of four classes required for ASA. It was a cakewalk. Three days of a relativly easy class with a two-hour test on the last day. Outside of class, I studied for about two hours.
So I’m guessing that if you multiply that by four, and add a couple of “open book” ethics and USPAP courses, you have the ASA. Not trying to belittle it, but it’s not exactly what I’d call a “rigorous academic undertaking”.
 
I don’t get the point of these easy to obtain “certifications” and what value it really adds. Another 3 letters behind your name?
 
^ at least it is a structured course on an important subject, making it easier to learn instead of bouncing all over trying to figure out if you are going in the right direction
 
It’s like getting a master degree in finance.
You can very easily learn the subject material on your own with textbooks, but sometimes you need someone to point you in the right direction.
 
itera wrote:
I don’t get the point of these easy to obtain “certifications” and what value it really adds. Another 3 letters behind your name?
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you can submit a valuation to the IRS, for one.
And it doesn’t really matter what you think. What matters is what clients and employers and the legal system (including the IRS) thinks. If you got your three letters from a crackerjack box, it doesn’t matter. If clients and employers and the judge and jury and IRS are impressed with it, it’s as good as gold.
Case in point–about 99% of my clients and about 75% of my peers have absolutely no idea what the CFA is. They’d rather see CFP, because they’re more familiar with it.
 
^ To further Greenie’s point. I have been doing business valuation for 19 years, have an MBA (finance concentration) from a top 25 school (yes I know, hacksaw), and am a charterholder. Because I don’t care to take the ASA courses and submit a sample report though, the IRS does not automatically consider me a “qualified appraiser”. In comparison, someone with a BA, 5 years experience and the ASA designation is automatically a “qualified appraiser”.
 
dwheats wrote:
Very helpful, thanks!
Do you think it is wise to puruse CBV after CFA if interested in corporate finance or ibanking?
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As some people mentioned after your post it is required if you want to be in valuations because the CRA (canadian IRS) or lawyers using valuation services doet recognize you without a CBV.
Im peeved at the CBV for being so stupidly easy after the CFA. I wish they would just let us take the final test without making us go through the courses. (they do exempt you CFAs for 2 of 6 but it should be level 1 and 2 of the CBV as well at the very least).
 
They also wont let you leave the exam room after you finish the exam way before the alloted time…
I know Im being an arrogant prick and lording my CFA over the CBV, but its like finishing a masters in finance then having someone tell you that you have to be in every intro to finance course because the professor takes attendance and attendance counts for your final grade.
 
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