FMI Hosts Third Advanced Financial Modeler (AFM) Exam and Inaugural Chartered Financial Modeler (CFM) Exam; 500 Candidates Write in 2018

The Financial Modeling Institute (FMI) welcomed 300 candidates for the third sitting of the Level 1: Advanced Financial Modeler (AFM) Exam and the inaugural sitting of the Level 2: Chartered Financial Modeler (CFM) Exam on Saturday, October 20th. This was the largest global sitting to date, bringing the total number of AFM and CFM registrants in 2018 to 500. Candidates wrote the exams in 26 cities worldwide on 5 continents, including Athens (Greece), Calgary (Canada), San Francisco (US), and Auckland (New Zealand). These new testing centres were added based on candidate feedback and demand.

“This past year has been a tremendous period of growth for the FMI and for the financial modeling discipline as a whole,” says Ian Schnoor, Executive Director of the FMI. “We successfully launched the Level 2 CFM certification after developing and refining the content for nearly a year, ensuring that the quality and rigour would be up to global financial modeling standards. The FMI had 500 candidates register for the exams in 2018, making it our most successful year to date.”

Since its inception in 2017, the FMI has sought to be an innovator and pioneering provider of financial modeling certifications globally. In addition to adding new testing centres, the FMI began offering private exams for corporations and universities. These private exams can be arranged to accommodate groups of people at a time and place that is convenient for them. “Employers and academic program directors are continuing to see the value of the certifications and how having a benchmark for financial modeling skills is important,” says John Persico, Executive Director of the FMI. “For employees, the certifications can be important milestones for promotion or other tools for advancement. For students, it means equipping future leaders with tools and capabilities for roles in finance, accounting, or others fields that incorporate the discipline of financial modeling.” This year, private exams have already taken place in Canada, Australia, and Japan.

Supporters of the FMI continue to celebrate the momentum of the program. Andrew Grigolyunovich, CFA, AFM, recently sat the Level 2 CFM Exam in Frankfurt, Germany, and shares his excitement for the certifications. He was one of the first candidates to sit the second level after successfully attaining the AFM designation last year. “The FMI sets a very high standard for financial modeling around the world. As the Level 2 CFM exam is new, I can’t yet count on having a test centre in a small country like Latvia where I live. But this just adds to the excitement, as every time I can choose another test centre in another city (London, Zurich, Frankfurt and even Moscow work well for me).”


The FMI exams focus on real-world applications of financial modeling excellence without the prerequisite of industry work experience. Earning each FMI certification is a gateway to becoming a member of a global network of advanced financial modeling leaders who have demonstrated mastery of real-world and applied financial modeling. Certification is ideal for all finance, accounting, investment, insurance, and business professionals.

The FMI offers three levels of certification, increasing in difficulty as candidates obtain each subsequent level: Advanced Financial Modeler (AFM); Chartered Financial Modeler (CFM); and Master Financial Modeler (MFM).


Registration is now open for the next sitting of the Level 1: Advanced Financial Modeler (AFM) exam and the Level 2: Chartered Financial Modeler (CFM) exam to be held on April 27, 2019, in more than 25 cities worldwide.

Ian Schnoor
Executive Director
Financial Modeling Institute (FMI)

John R Persico
Executive Director
Financial Modeling Institute (FMI)

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