Certified International Investment Analyst

Certified International Investment Analyst (CIIA) is a global finance designation offered by the Association of Certified International Investment Analysts (ACIIA) to financial professionals; candidates may be financial analysts, portfolio managers or investment advisors.

The CIIA maintains standards both at the national and international levels: ACIIA tests candidates at the local level (at their home country), and, having cleared those country specific exams, at the common international level. Because of similarity in exam structure and difficulty, CIIA is often recognised as the "European version of the CFA".

Association of Certified International Investment Analysts

CIIA Code of Professional Ethics [1]

A. Fundamental Principles

  • Honesty, Integrity, and Fairness
  • Reasonable Care and Diligence
  • Interests of Clients First
  • Independence and Objectivity
  • Professional Competence
  • Required Knowledge and Compliance

B. Specific Key Principles

  • Reasonable Basis and Fair Representation
  • Suitability
  • Prohibition Against Misrepresentation
  • Prevention and Disclosure of Conflicts of Interest
  • Compensation
  • Fair Dealing with Clients
  • Prohibition Against Use of Material, Non-Public Information
  • Proper Use of Professional Qualifications
  • Preservation of Client Confidentiality

The ACIIA is recognised and promoted by both ASIF and EFFAS representing financial analyst federations in Asia and Europe. ACIIA is the international umbrella organisation for national and regional associations of investment professionals representing over 60,000 portfolio managers, analysts, investment advisers, asset managers and fund managers etc. worldwide.[2]

ACIIA was formed in year 2000 by two large and world's leading federations "EFFAS" and "ASIF". The third federation "APIMEC" of Brazil joined with ACIIA to offer CIIA program to member countries[3] bringing in a common platform of Knowledge and uniform standards to Investment professionals worldwide. For the constituent analyst societies see under EFFAS and ASIF.

Certified International Investment Analyst

To be awarded the CIIA, candidates must pass two "Common Knowledge" Exams and a third National/Regional Exam, examining knowledge of specific markets. Candidates must also have 3 years relevant experience and be a member of ACIIA, as well as of their local or regional society. The exams are taken twice per year and are written at a postgraduate level; they require 18 hours in total, and the recommended preparation time is about 500 study hours.

The Common Knowledge Exams consist of four papers at the "Foundation level", and two at the "Final level". The foundation level papers, in turn, comprise multiple choice, calculation, discursive and short essay questions. The final level exams comprise case studies and in-depth essays. The topics covered at both levels are:

The National / Regional Exam is set by the individual societies and examines specific knowledge of local markets and standards. Topics covered:

Legal and Other Recognition

The CIIA is variously recognised as regards regulatory requirements or educational /exam exemptions:[5]


External links

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