Exemption thru CFA exams

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sundevl21

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Was wondering if anyone has experience using CFA exams to gain exemption from taking other exams, i.e. actuarial exams, series exams etc. I believe passing certain levels exempts you from certain actuarial exams but everyone at my firm may need to register as an investment advisor and it requires holding the CFA designation, among other certifications. The way it’s written if you’ve passed the exams but aren’t a charterholder yet you aren’t exempt, but does anyone have any experience in this area?
 
passing L2 exempts you from the Series 86 (needed for research analyst’s)
but you need to have passed within the last 2 years
 
No exemptions for actuarial exams. You do get exempted from some “VEE” requirements though.
(The VEE is validation by educational experience - I think, it’s been a while. You have to have passed time series, regression, micro & macro economics and corp finance at some point. You aren’t specifically tested on those through the SOA, but you still have to have been exposed at some point. The CFA exams qualify)
 
CFA get you few securities license exepmtion if you are ever interested in working in Hong Kong.
 
Sorry if I wasn’t clear, was looking more for personal experience with exemptions rather than stuff I could research online. JonnyDee - I assume you were exempted from the Series 65 by being a charterholder rather than passing the exams? There seems to be some grey area in the way the regulations were written, plus some other designations that exempt one from Series exams have much shorter experience requirements than the CFA. Basically frustrated that passing the CFA exams and having 3 years experience vs. 4 for the charter means I’ll have to take Series exams…
 
You’re correct. I looked at the official paper work and it stated that you can get an exemption from the Series 65 exam if you have any of the following designations (CFP, ChFC, PFS, CFA or CIC). I can appreciate your frustration. I would try to postpone the exams a year if that would then allow you to be exempt from them. Or you could revise your work experience and try to get the CFAI to accept additional months of experience. Good luck.
 
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