Moneyzine
Contents
/Careers Guides/Certified Investment Management Analyst (CIMA Exam)

Certified Investment Management Analyst (CIMA Exam)

Moneyzine Editor
Author: 
Moneyzine Editor
2 mins
November 22nd, 2023
Advertiser Disclosure
Certified Investment Management Analyst (CIMA Exam)

Definition

The term Certified Investment Management Analyst refers to an award issued to individuals that demonstrate expertise in providing investment advice. The Certified Investment Management Analyst, or CIMA, designation is awarded to individuals meeting the standards outlined in American National Standards Institute’s (ANSI) ISO 17024 as administered by the Investment Management Consultants Association. CIMA certification is earned by individuals that demonstrate the competency necessary to be an advanced investment consultant.

Explanation

The Certified Investment Management Analyst Exam, or CIMA Exam, refers to a program consisting of two examinations. Following the successful completion of a Qualification Examination, candidates need to pass a Certification Examination. Once certified, individuals need to renew their certification every two years by completing 40 hours of continuing education, of which two hours need to be dedicated to ethics. Certificate holders must also agree to adhere to IMCA’s Code of Professional Responsibility, Standards of Practice, and Rules and Guidelines.

The Qualifications Exam is an online examination offered at test locations throughout the United States. The exam consists of 50 multiple choice questions and examinees have two hours to complete the test. Candidates must also attend an educational program offered by registered providers to successfully pass this first examination.

The Certification Examination is a 100 question, multiple-choice test that covers five topics, derived from a job analysis survey as described below:

  • Business, Economic, Governance, and Statistical Fundamentals: includes ethics, regulatory considerations, statistics, finance applications, economics, capital markets, and valuations.

  • Portfolio Performance and Risk Measurement: includes topics such as measuring risk and performance as well as their attributes.

  • Traditional and Alternative Investments: includes topics such as global investments, equities, fixed income securities, foreign exchange, options, futures, derivatives in addition to tools and strategies.

  • Portfolio Theory and Behavioral Finance: includes topics such as portfolio models as well as theory, and business finance.

  • Investment Consulting Process: includes topics such as investment policy, portfolio risk management, search, selection and monitoring of managers, as well as the review and revision process.

The Certification Exam is conducted during four test windows each year (February, May, August and November). Passing grades are determined by a panel of subject matter experts. If a student fails an examination, they must wait a minimum of 30 days between exam attempts. Pass rates for the Qualification Exam are roughly 60% (first time and retakes), while the pass rates for the Certification Exam average closer to 53% (50% first time, 55% retakes).

Related Terms

Certified Financial Planner Exam (CFP Exam)
The term Certified Financial Planner Examination refers to a test that assesses the candidate's ability to apply financial planning concepts in real life situations. The Certified Financial Planner Examination, or CFP Exam, is developed and administered by the CFP Board. The purpose of the examination is to ensure individuals have the knowledge and skills necessary to work independently as a financial planner.
Moneyzine Editor
Moneyzine Editor
November 22nd, 2023
Certified Public Accountant Exam (CPA Exam)
The term Certified Public Accountant Exam refers to a test that assesses the candidate's knowledge of financial accounting and reporting principles. The Certified Public Accounting Exam, or CPA Exam, is developed by the American Institute of Certified Public Accountants (AICPA) and administered through the National Association of State Boards of Accountancy (NASBA). The purpose of the examination is to ensure individuals have the knowledge and skills needed to work independently in the accounting profession.
Moneyzine Editor
Moneyzine Editor
November 22nd, 2023
The term Chartered Financial Analyst Exam refers to a series of tests that assesses the candidate's ability to analyze investments and manage portfolios in real-world situations. The Chartered Financial Analyst Examination, or CFA Exam, is developed and administered by the CFA Institute. The purpose of the examination is to ensure individuals are able to bridge academic theory, industry practice, and ethical standards when analyzing investments.
Moneyzine Editor
Moneyzine Editor
September 25th, 2023
Certified Fund Specialist (CFS Exam)
The term Certified Fund Specialist refers to an award that serves as an indication of expertise in the mutual fund industry. The Certified Fund Specialist Exam, or CFS Exam, is developed and administered by the Institute of Business and Finance. The purpose of the exam is to ensure individuals are qualified to provide analytically sound mutual fund recommendations to their clients.
Moneyzine Editor
Moneyzine Editor
November 22nd, 2023
The term Chartered Financial Consultant refers to a certification program that serves as an indication of expertise in financial planning. The Chartered Financial Consultant Exam, or ChFC Exam, is developed and administered by American College of Financial Services. The purpose of the certification is to ensure individuals are qualified to provide clients with advice on topics such as income taxes, insurance, investments and estate planning.
Moneyzine Editor
Moneyzine Editor
September 25th, 2023
The term Chartered Investment Counselor refers to a designation awarded to individuals working as investment advisors and possessing advanced portfolio management skills. The Chartered Investment Counselor, or CIC, program is administered by the Investment Adviser Association (IAA). The purpose of the award is to identify individuals with significant experience as investment counselors and managing portfolios.
Moneyzine Editor
Moneyzine Editor
September 25th, 2023
The term Chartered Market Technician refers to an award issued to individuals that demonstrate expertise in the field of technical analysis of investment markets. The Chartered Market Technician, or CMT, designation is awarded to individuals that pass a series of three examinations developed and administered by the Market Technicians Association (MTA). CMT certification is earned by individuals that demonstrate competency in a wide range of technical analysis topics.
Moneyzine Editor
Moneyzine Editor
September 25th, 2023
The term Chartered Life Underwriter refers to a certification program that serves as an indication of expertise in insurance products. The Chartered Life Underwriter Exam, or CLU Exam, is developed and administered by American College of Financial Services. The purpose of the certification is to ensure professionals are qualified to provide individuals and business clients with advice on topics such as health and life insurance as well as estate and tax planning.
Moneyzine Editor
Moneyzine Editor
September 25th, 2023
Certified Fraud Examiner (CFE Exam)
The term Certified Fraud Examiner refers to an award that serves as an indication of expertise in the prevention and detection of fraud. The Certified Fraud Examiner Exam, or CFE Exam, is developed and administered by the Association of Certified Fraud Examiners (ACFE). The purpose of the certification is to ensure individuals possess both leadership abilities as well as the skills needed to detect and prevent fraud from occurring.
Moneyzine Editor
Moneyzine Editor
November 22nd, 2023
The term Financial Risk Manager refers to a certification program that serves as an indication of expertise in analyzing, controlling and assessing risk. The Financial Risk Manager Exam, or FRM Exam, is developed and administered by Global Association of Risk Professionals (GARP). The purpose of the certification is to ensure individuals possess the skills needed to understand and assess credit, market, and liquidity risk.
Moneyzine Editor
Moneyzine Editor
September 26th, 2023

Contributors

Moneyzine 2024. All Rights Reserved.