ACIIA规则制度.docx

1、ACIIA规则制度_RULES AND REGULATIONS OFTHE ASSOCIATION OF CERTIFIED INTERNATIONALINVESTMENT ANALYSTS_Amended by special resolution passed on 27th June 2002 and 2nd February 2005 CONTENTSI GENERAL PROVISIONS 3Article 1 Objectives 3Article 2 Establishment of the Examinations 3Article 3 Amendment 3Article 4

2、 Definitions 3II STRUCTURE AND CONTENT OF THE EXAMINATIONS 4Article 5 Overall Structure 4Article 6 Eligibility to sit for the International Examinations 5Article 7 Topic Areas and Examination Hours 5Article 8 Language 6Article 9 Examination Guide 6Article 10 Examination Calendar and Venues 6III ADMI

3、NISTRATIVE ORGANISATION 7Article 11 Overall Structure 7Article 12 Role of ACIIA 7Article 13 The International Examinations Committee (IEC) 8Article 14 National Associations 9Article 15 Security 10Article 16 Copyrights 10IV ADMISSION AND ENROLMENT FOR THE EXAMINATIONS 10Article 17 Announcement 10Arti

4、cle 18 Conditions for Admission 11Article 19 Enrolment Procedures 11Article 20 Examination Fees 11V EXAMINATION PROCEDURES AND RESULTS 12Article 21 Examination Procedures 12Article 22 Marking Procedures 12Article 23 Examination Results 12VI PROFESSIONAL QUALIFICATION 13Article 24 International Desig

5、nation 13Article 25 Withdrawal 13VII SUPPLEMENTARY PROVISIONS 14Article 26 Complaints and Appeals 14Article 27 Effective Dates 14I GENERAL PROVISIONSArticle 1 ObjectivesThe objectives of these Rules and Regulations (hereinafter “The Rules”) are to stipulate all details of the administrative organisa

6、tion, structure and procedures of the advanced professional examinations for the Certified International Investment Analyst (CIIA) established by the Memorandum and Articles of Association of The Association of Certified International Investment Analysts (ACIIA).Article 2 Establishment of the Examin

7、ationsAdvanced professional examinations for the Certified International Investment Analyst are organised by ACIIA under the responsibility of the Asian Securities Analysts Federation, the European Federation of Financial Analysts Societies, the Brazilian Association of Investment Analysts and their

8、 national/regional associations or federations of such associations and other associations that may join from time to time to confirm that candidates have the knowledge and skills necessary to perform competently as international investment analysts.Article 3 AmendmentAny amendment to these Rules sh

9、all be proposed by the Council of ACIIA or a Member of ACIIA and approved at a General Meeting by a simple majority of votes unless otherwise specified. Article 4 DefinitionsFor purposes of these Rules, the terms below are defined as indicated.investment analyst: A professional who is primarily enga

10、ged in:(a) the analysis and evaluation of individual securities and other assets; and/or(b) the application of such analysis and evaluation to portfolio management and investment advice.In this regard, investment analyst includes securities analyst, financial analyst, portfolio manager, investment a

11、dvisor, etc.National/Regional association: Member of ACIIA which contracts with it to provide candidates for the examinations (Contracting Member of ACIIA).Common Knowledge Base: (CKB) The overall and comprehensive knowledge base which is broken down into pre-candidate, candidate, and post-candidate

12、 levels, and with which investment analysts should be familiar at their particular level.Examination Syllabus: Topics and sub-topics to be studied for the advanced professional examinations and which cover a large portion of the CKB at the candidate level.IEC: The International Examinations Committe

13、e.CIE: The Centre for the International ExaminationsII STRUCTURE AND CONTENT OF THE EXAMINATIONSArticle 5 Overall Structure(1) The advanced professional examinations for the Certified International Investment Analyst (CIIA) as set forth in these Rules comprise:(a) International (common) examinations

14、 (covering common components) centrally administered by ACIIA, and(b) national (specific) examination (covering national specific components) administered by each national/regional association (the content of which will be reviewed by the IEC).(2) The international (common) examinations under (1) (a

15、) above comprise two levels: a Foundation Examination and a Final Examination.The Foundation Examination will examine all topic areas and will contain multiple choice, calculation, and essay type questions which assess the basic knowledge and analytical skills of candidates.The Final Examination wil

16、l similarly examine across all topic areas and will contain full and mini- case study questions, together with in-depth essay or discursive questions and some structured computational questions which assess the more advanced knowledge and synthetic analytical skills of candidates.Article 6 Eligibili

17、ty to sit for the International ExaminationsThere are two ways of sitting for the examinations to attain the designation CIIA:a) Those candidates who do not already hold a qualification from an IEC Accredited examination programme of their national/regional association must sit and pass the Internat

18、ional (common) Foundation and Final examinations as well as the national (specific) examination.b) Those candidates who have taken an IEC-accredited examination programme of their national/regional association and who have passed at least 12 hours of examinations and been awarded the related qualifi

19、cation from their national/regional association need only sit and pass the Final Examination.Article 7 Topic Areas and Examination Hours(1) The international (common) examinations comprise examinations in seven topic areas as indicated in the table below.Total examination hours will be fifteen: nine

20、 for the Foundation Examination and six for the Final Examination.The Foundation Examination will consist of three papers and the Final Examination two, both exams covering the following topic areas with length of each examination being as indicated.Foundation Examination:Topic AreasExamination Dura

21、tion (Minutes)Equity Valuation and Analysis, Financial Statement Analysis, Corporate Finance 190Fixed Income Valuation and Analysis, Economics 160Derivative Valuation and Analysis, Portfolio Management 190Total time 540 (i.e. 9 hours)Final Examination:Topic AreasExamination Duration (Minutes)Corpora

22、te Finance, Economics, Financial Statement Analysis, Equity Valuation and Analysis 180Fixed Income Valuation and Analysis, Derivative Valuation and Analysis, Portfolio Management 180Total time 360 (i.e. 6 hours)(2) The national (specific) examination set by each participating national/regional assoc

23、iation will be of at least three hours duration.The topic areas to be addressed in the national (specific) examination are those areas which are specific to the particular country/region and which cannot be covered in a common examination such as: Regulations Ethics Financial Statements Market Struc

24、ture and Investments(3) Total hours of the international (common) examinations (fifteen) and the national (specific) examination (at least three) will be at minimum eighteen.(4) The coverage of each topic area will be in proportion to the study hours specified in the Examination Guide.Article 8 Lang

25、uageCandidates may choose to participate in the international (common) examinations either in English or other available languages as determined by the IEC.Article 9 Examination GuideThe IEC will publish an Examinations Guide for the reference of candidates, which contains an explanation of the purp

26、ose and structure of the examinations, a detailed description of the topic areas covered by the examinations (examination syllabus), and recommended readings.Article 10 Examination Calendar and Venues(1) The IEC is responsible for recommending the schedule of examinations to the Council of ACIIA who

27、 will decide the dates.(2) The examinations will be held at several locations on one/two occasions a year for both the Foundation Examination and the Final Examination as determined by ACIIA. (In the initial stage, only the Final Examination will be held.)(3) National/regional associations are respo

28、nsible for organising examinations in their respective country/region in accordance with guidelines separately adopted by the ACIIA as well as arrangements stipulated by the IEC.(4) ACIIA may organise examinations in countries/regions where there is no national/regional association with membership o

29、f ACIIA, pursuant to guidelines separately adopted by the ACIIAIII ADMINISTRATIVE ORGANISATIONArticle 11 Overall Structure(1) The advanced professional examinations for the Certified International Investment Analyst (CIIA) shall be centrally administered by ACIIA and the International Examinations C

30、ommittee, the latter to undertake the actual examination process with the approval of ACIIA.(2) National/regional associations shall be responsible for a certain portion of the administration as stated under Article 14 below.(3) ACIIA may commission the Centre for the International Examinations (CIE

31、) and/or other appropriate organisation(s) to undertake some of the examination administration under the terms and conditions specified in the contracts with them and approved by ACIIA.Article 12 Role of ACIIA(1) ACIIAs terms of reference with regard to the advanced professional examinations for the Certified International Investment Analyst (CIIA) are as follows:a) to appoint members of the International Examinations Committee (IEC) and its Chairman;b) to approve and implement amendments to the Rules and guidelines stipulated in the Rules;c) to approve an administrative plan for