Follow along with the video below to see how to install our site as a web app on your home screen.
Note: This feature may not be available in some browsers.
Don’t you think the fact that you are required to take CE for all your credentials increase the value of them? I do. You could argue the added perceived value is unjustified (since some that hold the credential don’t take CE seriously and get nothing out of it), but still, it can only add value. And, I don’t see a problem with having CE give you credit for more than one credential at a time. if it is relevant to both credentials.Greenman72 wrote:
If you were smart, you’d get four other people to do three different quizzes. Then you could do 20 CPE credit hours in only 20 minutes! (Well, plus another 20 minutes to fill out all the answer sheets.)hookem89 wrote:
Unless you have to sit through your firm’s trainings (thank god I’m not in Big 4 anymore), this is exactly what it is.Yayyywork wrote:
From my experience with people with a CPA & CFP the CE is kind of a joke though. I think CE credits & requirements in general are a patch to make people feel like a person is really keeping up with trends when in reality they may not be.
People can easily obtain the needed CE credits and while not staying current with what is really going on in the industry. I believe the responsibility for maintaining should be held with the individual and that is included in the Code of Ethics.
For example, I pay to download some BS 30-page online pdf summary of a topic with a quiz at the end to confirm that I read the text. Thankfully, my computer has Ctrl+F, so I read none of it and go straight to the quiz. This will give me like 4 CPE credit hours in roughly 20 minutes.
But I have to do 40 hours per year for my CPA, 15 hours a year for insurance, another 20 (I think) for my Series 7, and if I ever complete the CFP (which I doubt I will), another 30 for that.
Except for the obvious fact that all additional things an organization is required to do it will charge more for. I would imagine dues would increase in order to maintain all the records, along with being charged for CE. Maintianing that people are completing CE is really just to cover the organizations butt. CE programs are well intentioned but in execution a complete joke. It should be left to your members to keep themselves educated and current, as there are so many ways one can do that.CubsFanCPA wrote:
I agree that the CPE for the CPA can be a gigantic waste of time; it’s really up to the individual to get what he/she wants to get out of it. That being said, whenever there is a change in tax code or auditing standards, the CPE makes you aware of those changes that you otherwise might miss. Further, just the perception that CPA’s are required to take CPE to maintain the license should (and I would argue does) increase the value of the license in general.
It obviously has value to keep up with current market developments as a CFA charterholder, as evidenced by the stated goal of the CFA Program, the recommendation for individual CE by the CFAI, and how it is part of the Code of Standards. My argument is that it would be prudent for the CFAI to mandate it and keep track of it by means other than individual vouching. Since charterholders should be doing this CE anyways, there shouldn’t be any additional time commitment. And as for additional costs, if they charged for CE then they could reduce the membership dues for relief.
Although they take my word for it and don’t verify it, I view it as a 20 hour per year CE requirement. I’ve never answered “No” though, so I don’t know what happens if someone answers “No”.S2000magician wrote:
No.higgmond wrote:Am I the only one who is asked every year if I’ve completed at least 20 hours of CE when I renew?
I always answer “No.”higgmond wrote:
Although they take my word for it and don’t verify it, I view it as a 20 hour per year CE requirement. I’ve never answered “No” though, so I don’t know what happens if someone answers “No”.S2000magician wrote:
No.higgmond wrote:Am I the only one who is asked every year if I’ve completed at least 20 hours of CE when I renew?
*eye roll*Chumulet wrote:
CFA mark is a golden standard, you already showed at least 4 years experiance, passed exams (hard exams) - you dont need to earn CE to maintain it. Value of CFA charter is so understandable and solid that CE will only drop this value. You dont need CE to hold diploma from your universaty etc - CFA charter is the same thing. Topic starter is troll. CFA charter stands out of other rubish alphabet soup with CE and other money leechers.
Agreed I think it was a completely legit question and I think there was a solid discussion about it. I can see and understand both sides of the arguement better now. Good topic.ltj wrote:
*eye roll*Chumulet wrote:
CFA mark is a golden standard, you already showed at least 4 years experiance, passed exams (hard exams) - you dont need to earn CE to maintain it. Value of CFA charter is so understandable and solid that CE will only drop this value. You dont need CE to hold diploma from your universaty etc - CFA charter is the same thing. Topic starter is troll. CFA charter stands out of other rubish alphabet soup with CE and other money leechers.
Pretty obvious he was trying to have a rational discussion about it. It’s something I’ve wondered and I’ve had people who know I’m in the program ask me if there is any CE involved after. Not a ridiculous question in the least bit.
But hey way to be absurdly defensive about it.
Don’t get how CE drops the value of the charter, but that should be something that should be examined thoroughly before any changes are to be made. But it goes against the CFAI stance (they explicitly recommend CE) and common sense. I assure you I’m not a troll; I’m a smurf.Chumulet wrote:
CFA mark is a golden standard, you already showed at least 4 years experiance, passed exams (hard exams) - you dont need to earn CE to maintain it. Value of CFA charter is so understandable and solid that CE will only drop this value. You dont need CE to hold diploma from your universaty etc - CFA charter is the same thing. Topic starter is troll. CFA charter stands out of other rubish alphabet soup with CE and other money leechers.
+1MBStrader wrote:
I think it should be
you joker youS2000magician wrote:
I always answer “No.”higgmond wrote:
Although they take my word for it and don’t verify it, I view it as a 20 hour per year CE requirement. I’ve never answered “No” though, so I don’t know what happens if someone answers “No”.S2000magician wrote:
No.higgmond wrote:Am I the only one who is asked every year if I’ve completed at least 20 hours of CE when I renew?
I still get all of the CFA Institute e-mails, my account’s not frozen, and they promptly answer my annoying e-mails, so everything appears in statu quo.