PFM Curriculum is based on Body of Knowledge (BOK) which is divided into 6 main Sections, namely:
- Accounts and Reports Used for Financial Model
- Forecasting Techniques and Assumptions
- Financial Projection
- Valuation Methodologies
- Financial Model Sustainability and Risk Analysis
- Project Financial Model
The BOK is further organized into sub topics called Detailed Outline Subtopic (DOS). Each DOS covers specific subtopic which is then expounded into PFM Program Module. The number of DOS keeps on expanding. DOS is the basis for content in the module and what participant can expect in PFM Exam.
PFM Program Module is standardized and updated from time to time. Only IFMI can publish and update the Module. Class delivery by training providers may not deviate from the Module.
Training providers may develop presentation materials (slides, etc) for their own purpose.
PFM Program is international designation, meaning the holders may use the Designation in any country without restriction. IFMI currently undergoes internationally recognized accreditation process based on ISO 17024 to ensure that the whole process conducted is in accordance with global standard set for certification body.
The structure of PFM certification program and process is developed based on ISO 17024 to ensure the adherence with global standard for professional education. To enhance the credibility further, IFMI is currently preparing for accreditation process by acclaimed US based accreditation institution.
I many jurisdictions, the establishment of professional certification program must ensure the adherence to local occupation standard in order to obtain local government recognition or permission. This may cause the program to become irrelevant in other countries. To avoid government intervention, IFMI is structured as web based global organization. To ensure legality of the program, the body is legalized in jurisdiction where Licensed Training Provider is domiciled.
In order to attend onsite class, participant needs to have basic understanding about accounting and finance and have good familiarity with Microsoft Excel, Open Office or similar software. Participant is NOT required to have education or professional experience in financial modelling or finance.
Participant need to have Bachelor degree or in final years of taking undergraduate program. Participant who does not have bachelor degree or not taking undergraduate program may be eligible to obtain PDM Designation as long as the participant minimally has 4 years of working experience.
IFMI is a not-profit global organization. In each country or region where PFM program is available onsite, IFMI appoints Training Providers which can deliver onsite class and prepare the venue and environment needed for the Examination. All Examination problems, grading process and membership are directly managed by IFMI.
PFM is not developed based on occupation standard set forth by government in a single jurisdiction which may undermine the ability of its holders to access global market. But instead, PFM curriculum is developed based on the understanding about the needs of financial modelers in common to gain the knowledge which enables them to stay ahead of market. This ensures worldwide recognition to your PFM designation.
If you fail in one of 2 modules in the exam, you can retake exam ONLY on the module that you fail. You are given 3 opportunities to retake and must pass the examination within 5 years from your 1st attempt. If you fail on the third attempt and/or not yet passed within 5 year, you need to sit in the preparation class again. Contact your training provider for the schedule of the examination.
No. No matter how advanced you are, PFM has unique content where some cannot be found elsewhere. Hence it is required to sit in preparation class prior to taking PFM Exam.
You can contact IFMI through firstname.lastname@example.org and IFMI will direct the Licensed Training Provider to arrange class on demand if participant quota suffices. Class will mostly be in English and exam will also be in English and some basic translation on your local language may be available as it is a standard by IFMI to provide exam in bilingual format in non English speaking country.
Yes you can. However, your Training Provider will be charging price based on a single package of preparation class and examination. If you do not wish to take the examination, you can simply absent on the day of the examination.
In each country, IFMI sets the basic price which can be offered by Training Providers. The price is different in each country by considering many factors including the cost of running onsite program in that country, local taxation and the operational costs involved. However, Training Provider may adjust the price based on the venue chosen and number of participants.
Yes you can. IFMI does appoint Licensed Training Providers on non exclusive basis for a country or region. There are requirements to be met. Contact email@example.com for more information.
Employment opportunity for a modeller is vast and entails best and highest paying jobs in finance industry. PFM Designation holders commonly work as research analyst, investment banker, corporate planner, appraiser, trader, corporate finance, credit analyst, project manager and many others.
Development is currently underway for full online tutorial and examination available in all countries. There will be announcement when the online program is launched.