Select a question from one of the following topics. If your question is not answered here, please contact us.
Eligibility for the experience route
Eligibility for the study route
- Who is eligible for the qualification?
- Can I apply for the qualification if I am not in Europe or the Americas?
- Do I have to be a Chartered Accountant to sit the CF qualification?
- If I do the Intermediate Diploma in Canada can I do the Advanced Diploma in the UK?
Entry requirements for the experience route
Entry requirements for the study route
About the CFq experience route
About the CFq study route
- How many stages are there of the CFq?
- What's the difference between the Diploma and Intermediate Stage?
- What's the difference between the Advanced Diploma and Advanced Stage?
- What does each stage cover?
- Do I have to work through each stage to proceed to the next?
- How much studying is required at each stage?
- Is the tuition compulsory?
- What is the work experience requirement to get the CF qualification?
Costs of tuition and exams
Exam dates
Exam certificate and CF designation
- What letters do I gain should I passed all levels of the qualification?
- Will I be awarded the CF automatically upon completion of the Advanced Diploma/Advanced Stage?
- Why haven't I received a certificate after having passed the Diploma/Intermediate Stage or Advance Diploma/Advanced Stage exam?
Eligibility
Who is eligible for the qualification?
In the UK, the CISI Certificate in Corporate Finance is an entry requirement to study the Diploma. It is suitable for those who are new to the corporate finance arena.
The Diploma (or Intermediate Stage in some countries) is the next level for those who have completed the Certificate, or who are ACA qualified and have gained one to three years of experience in corporate finance.
In North America, individuals with one to three years' experience in corporate finance may register for the Intermediate Stage.
The Advanced Diploma/Stage is the final stage required in order to progress towards receiving the CF qualification. Three years' practical work experience is required to earn the CF qualification.
Can I apply for the qualification if I am not in Europe or the Americas?
The Corporate Finance qualification (CFq) is a global qualification and as such is open to applicants from all over the world.
Do I have to be a Chartered Accountant to sit the CF qualification?
No. The Corporate Finance qualification is open to individuals with one to three years' experience in corporate finance. You do not have to be a chartered accountant.
If I do the Diploma in Canada can I do the Advanced Diploma in the UK?
Yes you can and vice versa.
Entry requirements and exemptions
What are the entry requirements for the qualification?
There are different entry requirements depending on location. In the UK, for example, the entry requirement to study the Diploma is that you must have completed and passed the Certificate in Corporate Finance from the Chartered Institute of Securities & Investment (formerly known as Securities and Investment Institute or SII). Please check the website for regional entry requirements based on your location.
Are there any exemptions?
There are a number of exemptions available dependent upon previous qualifications and work experience.
| CFq stage | Exemptions |
|---|---|
| Certificate | In the UK, holders of the CISI (formerly SII) qualification in Corporate Finance or members of ICAEW/ICAS/ICAI or appropriate FSSC not ACCA. View the full list of exemptions |
| Diploma/Intermediate Stage | In the UK, existing holders of CISI (formerly SII) Diploma (must include passes at Corporate Finance, Interpreting Financial Statements, Regulation and Compliance (until September 2009 only)). Requests for credits will be evaluated on a case by case basis and should be directly written to cpl@icaew.com. |
| Advanced Diploma/Advanced Stage | No exemptions. |
About the CFQ
How many stages are there of the CFq?
The CF qualification is tailored to meet the needs of specific markets and therefore is structured slightly differently in countries around the world.
Typically, there are three stages to the Corporate Finance qualification:
- Certificate (this is the entry requirement level in the UK)
- Diploma (known as the Intermediate Diploma in some countries)
- Advanced Diploma.
Exemptions are available at the Certificate level.
In North America the programme comprises the Intermediate and Advanced programme and is aimed at chartered accountants or business professionals with appropriate experience.
What is the difference between the Diploma and the Intermediate Stage?
The Diploma and Intermediate Stage are the same thing. They are just called different names in different countries. In Europe and the Middle East it is referred to as the Diploma. In North America it is called the Intermediate Stage.
What is the difference between the Advanced Diploma and the Advanced Stage?
The Advanced Diploma and the Advanced Stage are the same thing. They are just called different names in different countries. In Europe and the Middle East it is referred to as the Advanced Diploma. In North America it is called the Advanced Stage.
What does each stage cover?
| CFq stage | What it covers |
|---|---|
| Diploma/Intermediate Stage | Technical knowledge and its practical application at an intermediate level. |
| Advanced Diploma/Advanced Stage | Advanced strategy and best practice techniques for those seeking to move into the top tier of the Corporate Finance field. |
Do I have to work through each stage to proceed to the next?
Yes, this will also ensure you are on track for achieving the CF designatory letters.
How much studying is required at each stage?
Each stage varies, ranging from 100 - 300 hours study.
| CFq stage | Hours of study |
|---|---|
| Diploma/Intermediate Stage | 10 days of tuition over 6 months with approximately 210 hours study |
| Advanced Diploma/Advanced Stage | 10 days of tuition over 6 months with approximately 300 hours study |
Is the tuition compulsory?
Tuition is not compulsory, as the learning materials support independent study, however it will increase your chances of success in the exams.
What is the work experience requirement for the CF qualification?
The work experience required to gain the CF qualification consists of three years' corporate finance work experience and involvement in three corporate finance transactions which are signed off by your manager. This must be supplied using the appropriate CF qualification application form for your region.
Cost of tuition and exams
How much are the materials and tuition?
Costs of materials and tuition vary. Please refer to the appropriate stage of the qualification and select your country location for more information.
How much are the exams?
| CFq stage | Cost |
|---|---|
| Certificate | Please contact the CISI for the UK programme or UOWD for the Middle East programme |
| Diploma | £500 (One 4 hour exam) |
| Advanced Diploma | £500 (One 4 hour case study, 1 week pre-released 'real-life' case study, open book) |
The exam fee is included in the course price with BPP in the UK, and it is included in the price of the CICA Education Program in Canada.
How do I apply for the exams?
If you are a student in Europe or the Middle East you will need to complete the exam application form (PDF 178kb/3 pages) and register with the ICAEW five weeks prior to the examination date.
Students who are registered for the CICA CF Education Program will be automatically registered for the March exam sittings. No further registration is required. However, students in North America who are not registered for the CICA CF Education Program should contact the CICA directly at cfqualification@cica.ca.
Exam dates
When are the exams?
| CFq stage | Exam dates |
|---|---|
| Certificate | Please contact the CISI |
| Diploma/Intermediate Stage | March and September |
| Advanced Diploma/Advanced Stage | March and September |
Exam certificate and CF designation
What letters do I gain when I pass all levels of the qualification?
You gain the letters CF when you have passed all exams and work experience requirements.
Will I be awarded the CF automatically upon completion of the Advanced Diploma/Advanced Stage?
No, you must apply for CF qualification, and the right to use the letters CF after your name. You are required to supply the details of your Corporate Finance work experience, using the appropriate application for the CF qualification form for your region.
Why haven't I received a CF qualification certificate?
The CF qualification certificate is only awarded once you have completed and passed all the stages of the exams (Diploma/Intermediate Stage and Advanced Diploma/Stage) and are able to demonstrate that you have three years of technical work experience. However, you will receive a results letter when you complete each stage.
