FAQ

1 UNIQUE SELLING POINTS:
Why become a Certified Financial Modeler?

Why to choose the Certified Financial Modeler?

Why to choose the Certified Financial Modeler?

1. Top Quality: accredited and certified program

2. Reputation: Globally recognized program

3. Global: Program in English and German in many global financial centers

4. Leading Financial Modeling Textbook: Available in English and German as the foundation of the course

5. Top Support of Learning and Exam Preparation: Sample questions and case studies are available

6. E-Learning: Your studies are not tied to a specific time or location

7. Close to Applied Business: Case studies developed by financial experts

8. Specialization: Electives allow targeted focus

9. Documentation of Performance: Exam given at Deutsche Börse AG

10. International credit for the exams: ECTS can be awarded

What are the job profiles of candidates who complete the Certified Financial Modeler program?

What are the job profiles of candidates who complete the Certified Financial Modeler program?

The following types of occupations from these specialized fields mainly complete the Certified Financial Modeler:

  • Transaction Services

  • Corporate Finance

  • M&A

  • LBO/Acquisition Financing

  • Private Equity

  • Treasury

  • Controlling

  • Auditing

  • Asset Management

  • Strategy Departments of Corporations

  • Area of Finance and Controlling of Corporations

  • Management Consulting

  • Lawyers who are exposed to Finance Topics

  • Doctoral Students

  • Wirtschaftsprüfung

  • Asset Management

  • Strategiebereich von Unternehmen

  • Bereich Finanzen und Controlling von Unternehmen

  • Unternehmensberatung

  • Juristen mit Bezug zu Finance-Themen

  • Doktoranten

Why is the Certified Financial Modeler attractive for top companies?

Why is the Certified Financial Modeler attractive for top companies?

  • Highly applied due to focus on the most important questions in applied finance.

  • Academic quality due to outstanding teaching materials.

  • The models are applied by the finance professors in applied work and thus are continuously verified and developed further.

  • Individual pace of study via e-learning.

  • Certification of achievement due to examination at Deutsche Börse AG.

  • Attractive title “Certified Financial Modeler” with large external impact.

  • More cost effective and efficient than multi-day seminars on the topic of “Financial Modeling”.

  • Increased competencies for both company and client.

  • No annual membership fees. Instead permanent access to the “Center for Financial Modeling” (CfFM).

What were the milestones in developing the Certified Financial Modeler?

What were the milestones in developing the Certified Financial Modeler?

2017: The book “Financial Modeling” is published in English by Macmillan, London.

2016: Upon successful completion of the Certified Financial Modeler program, 30 ECTS (European Credit Transfer System) can be transferred.

2016: Introduction of the Certified Financial Modeler-Three-Module-Strategy.

2016: Certificate program “Certified Financial Modeler” is accredited and certified.

2016: The second edition of the book “Financial Modeling” is published by Schäffer-Poeschel.

2011: The Certified Financial Modeler is offered at the locations in Frankfurt, Zurich, Paris, Hong Kong, Singapore and London.

2011: Internationalization of the Certificate program “Certified Financial Modeler”.

2011: Cooperation with Deutsche Börse in the training course “Certified Financial Modeler”.

2010: Start of the certificate program “Certified Financial Modeler”.

2010: The first edition of the book “Financial Modeling” is published by Schäffer-Poeschel.

2007: Founding of the German Institute for Corporate Finance at the state university HfWU.

Who backs the Certified Financial Modeler?

Who backs the Certified Financial Modeler?

  • German Institute for Corporate Finance

  • Nürtingen University

  • Deutsche Börse

  • Macmillan

  • Schäffer-Poeschel

  • FIBAA

  • Accreditation Council

 

 

How is the quality of the program assured?

How is the quality of the program assured?

The academic rigor and the link to applied work of the Certified Financial Modeler are assured via the accreditation and certification of the program. The Certified Financial Modeler was awarded the systems accreditation by the accreditation council. FIBAA has certified the Certified Financial Modeler and awarded the FIBAA Premium Seal due to its outstanding quality.

Can I get ECTS/Credits for my studies at the bachelor and master level?

Can I get ECTS/Credits for my studies at the bachelor and master level?

The participants in the certificate program “Certified Financial Modeler” can obtain so-called ECTS (European Credit Transfer System) following the successful completion of Module 1, Module 2 and Module 3. The 10 ECTS from Module 1 and the 20 ECTS from Module 2 can be submitted for approval for bachelor and master programs. In that way, a participant who successfully completed the certificate program “Certified Financial Modeler” can present up to 30 ECTS as credits towards bachelor and master programs.

What do graduates have to say about the Certified Financial Modeler?

What do graduates have to say about the Certified Financial Modeler?

2 CONTENTS: What will a Certified Financial Modeler study?

Are all topics covered that are relevant in finance?

Are all topics covered that are relevant in finance?

The Certified Financial Modeler covers the most important topics in finance. This includes:

  • Types of return calculations

  • Different types of debt financing

  • Bonds

  • Equity capital increases

  • IPO

  • Private equity

  • Leveraged Buyout (LBO)

  • Cash flow management

  • Corporate valuation based on DCF

  • Corporate valuation using multipliers

  • Risk management

  • Capital market theory

  • Asset management

  • Portfolio management

  • Options and futures

Will I obtain state of the art knowledge in financial modeling?

Will I obtain state of the art knowledge in financial modeling?

The course materials were developed by academic authors who have both applied and research experience in their areas of expertise. The contents is constantly assessed by practitioners at leading international corporations in the financial industry concerning topicality and relevance. Therefore you will I obtain state of the art knowledge in financial modeling.

Are electives available or are all topics relevant for the exam?

Are electives available or are all topics relevant for the exam?

In Module 1 you will become familiar with the most important methods of Financial Modeling, which are relevant for all specializations in Module 2. Therefore no electives are available in Module 1. The most important finance topics are presented in Module 2. For the exam in Module 2 you can select three of the four submodules based on your professional focus or interest (Investment Management, Corporate Finance, Portfolio Management as well as Derivatives). One of the four modules available is thus not relevant for the exam.

3 PROCESS: What are the main milestones on the way to the Certified Financial Modeler?

What is the cost of the program?

What is the cost of the program?

1) Program cost

The cost of the program “Certified Financial Modeler” is EUR 3,995 plus value added tax, currently at 19% for a total of EUR 4,754.05. Included in this overall package are the course fees for modules 1-3, the textbook as an e-book as well as the issuance of a university certificate and certificate supplement to obtain ECTS.

2) Modules can be booked individually

The modules 1-3 can also be booked separately. The cost of module 1, module 2 as well as module 3 amounts to EUR 1,595 per module plus value added tax, currently at 19% for a total of EUR 1,898.05. While module 1 and module 2 can be booked independently of each other, module 3 can only be booked if the exams for module 1 and module 2 have been successfully completed.

3) Repeat examinations

For a repeat examination for module 1, module 2 respectively module 3 due to failure to pass an exam, the GICF charges an examination fee of EUR 295 EUR plus value added tax, currently at 19% for a total of EUR 351.05 per module.

4) Issuance of a university certificate

The university certificate and the certificate supplement allows the granting of ECTS. Issuance of the university certificate (document plus certificate supplement) of HfWU is included in the fee for the complete package.

5) Students

Students (please provide copy of valid student-ID with the registration) get a discount. The program fee for students is EUR 1,495.00 EUR plus value added tax, currently at 19% for a total of EUR 1,779.24. Included in this overall package are the course fees for modules 1-3, the textbook as an e-book as well as the issuance of a university certificate and certificate supplement to obtain ECTS. There is no option for students to book individual modules at a discount, they can only acquire the significantly less expensive complete package. Should students only be interested in one module, they can of course book it, but only at the prices listed in 2).

Which services are included in the course fees?

Which services are included in the course fees?

Included in the course fees are the text book “Financial Modeling” as an e-book, the case studies in Excel, Excel-based preparatory questions for the exam, all examination fees as well as the university certificate and the certificate for the Certified Financial Modeler. Only the fees for possible repeat exams are not included in the program fees.

Who can utilize the reduced fees?

Who can utilize the reduced fees?

The reduced fees are in effect for students who are enrolled at the time of registration. The student is required to provide proof of enrolment when registering. Should the enrollment of a student terminate during the course of studies, it is still possible to utilize the reduced fees.

Preparation time: what is the expected preparation time for the individual modules / the entire course?

Preparation time: what is the expected preparation time for the individual modules / the entire course?

For a participant who has completed a degree in business (such as Bachelor) the following durations are given as guidance:

Module 1: 10 ECTS-Points x 25 Hours = 250 Hours

Module 2: 20 ECTS- Points x 25 Hours = 500 Hours

Module 3: 10 ECTS- Points x 25 Hours = 250 Hours

Participants with a concentration in finance during their studies, respectively practitioners in the field of finance can expect reduced preparation time.

Representative from the above mentioned occupational fields with more than three years of professional experience, who prepare for the Certified Financial Modeler while working full time can expect a preparation time of about six months.

Are face-to-face sessions required?

Are face-to-face sessions required?

The course and the course materials are created and coordinated in such a way that learning is possible independent of time and location. Face-to-face sessions are not required in this study format and are therefore not included. The course materials follow different learning concepts and already allow you to check study success as you progress.

What do I do in case of questions about the Certified Financial Modeler?

What do I do in case of questions about the Certified Financial Modeler?

You can always contact the course leaders via e-mail at info‎@ätdicf‎.‎de. All questions will be answered right away.

Is the title Certified Financial Modeler awarded for a lifetime or are additional certificates of achievement required over time?

Is the title Certified Financial Modeler awarded for a lifetime or are additional certificates of achievement required over time?

The Certified Financial Modeler is an academic training with strong practical relevance. Once the exam has been completed successfully, the achievement has been demonstrated and the title Certified Financial Modeler is awarded. Additional, for example annual certificates of achievement in the form of seminars are not required.

 

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4 EXAM: What does the Certified Financial Modeler exam look like?

What is the best way to prepare for the exam?

What is the best way to prepare for the exam?

We recommend the utilization of all available learning tools. In case of a systematic approach it is recommended to first become familiar with the contents of the textbook and to complete the corresponding case studies in Excel step by step. Next, the test questions for the exam preparation can be completed. For many participants, it has been a successful approach to mark those questions in green, which were clearly understood.

We recommend to mark questions were some uncertainty of ambiguity remained in the color yellow. Questions that could not be answered should be marked red. For all yellow and red questions, the contents should be reviewed again with the help of the textbook and the case studies. Once all questions are marked in green, it can be assumed that you are very well prepared for the exam.

Which testing locations are available?

Which testing locations are available?

The exam for the Certified Financial Modeler can be completed at the following locations:

  • Eschborn/Frankfurt,

  • Zurich,

  • London,

  • Paris,

  • Hong Kong and

  • Singapore

Other locations worldwide

In principle, examinations can be taken worldwide (except for the USA) at the locations of the German Chambers of Commerce (AHK). Please ask us by email at which examination locations we offer the "Certified Financial Modeler" exams in your home country. Appointments are made on an individual basis.

Where can I find the current exam dates and locations?

Where can I find the current exam dates and locations?

The current exam dates and locations can be found on our homepage www.certified-financial-modeler.de  at 

How can I register for the exam?

How can I register for the exam?

You can register online for the exam for Module 1, Module 2 and Module 3 at:

Register for the exam

What is the latest date to register for the exam?

What is the latest date to register for the exam?

You need to register at least 3 weeks prior to the exam of your choice by providing the intended exam time and location. In addition you provide the following information: Last name, first name, date of birth, place of birth, street, postal code and residence city.

What is the latest date to cancel my exam registration?

What is the latest date to cancel my exam registration?

You can cancel your exam registration by sending an e-mail to DICF at info‎@dicf‎.‎de, stating that you will not participate in the examination on the date selected. This cancellation must be send at the latest three weeks prior to the exam date for which you are registered. If you do not cancel your registration before this deadline, you are considered to be registered for the exam and your exam is scored by the examination committee.

Should you cancel your registration with the examination committee for health reasons and send a doctor’s note via e-mail to the examination committee, the examination committee will consider the exam as not registered. Hence no grade will be awarded for the exam. Should the cancellation be received by the examination committee at the latest three weeks before the examination date, the fee for a repeat exam is also waived. If the cancellation due to illness has not been received at least three weeks prior to the examination date, the fee for a repeat examination must be paid.

How many questions am I required to answer and during which time period?

How many questions am I required to answer and during which time period?

In the exam for Module 1, 220 questions based on a computer application must be answered within 180 minutes.

In the exam for Module 2, 120 questions based on a computer application must be answered within 180 minutes.

Are all modules relevant for the exam?

Are all modules relevant for the exam?

The exam for Module 1 consists of 4 parts, which must all be covered. There are no electives, since all the material is relevant for the submodules of Module 2.

Die Exam for Module 2 consists of 4 parts, but only 3 of the 4 parts must be answered during the exam. One submodule can thus be dropped.

What type of question is asked during the exam and what is the total number of points available?

What type of question is asked during the exam and what is the total number of points available?

Module 1 Exam:

There are 55 questions per submodule. The composition of the questions per submodule is as follows: 24 multiple choice questions, 24 single choice questions and 7 sentence completion questions. This yields a maximum number of points of 186 per submodule. The maximum score for the Module 1 exam is thus 744 points. Successful completion of the exam for Module 1 requires a minimum score of 139 points in every submodule (75% of the maximum points achievable in each submodule).

Module 2 Exam:

There are 40 questions per submodule. The composition of the questions per submodule is as follows: 12 multiple choice questions, 0 single choice question, 1 sentence completion questions and 27 calculations. This yields a maximum number of points of 216 per submodule. The maximum score for the Module 2 exam is thus 648 points. Successful completion of the exam for Module 2 requires a minimum score of 162 points in every submodule (75% of the maximum points achievable in each submodule).

Do I need a minimum pass rate of 75% in each submodule selected?

Do I need a minimum pass rate of 75% in each submodule selected?

Passing a module exam requires the successful completion of all submodules. Should a candidate score less than 75% of the maximum number of points in one or several submodules, but pass other submodules from the same module, he is only required to retake the submodules that he did not pass.

How are the grades for the individual exam results determined?

How are the grades for the individual exam results determined?

In case candidates have opted for the University Certificate when signing up for the Certificate Program “Certified Financial Modeler”, the results are graded per module element in the following manner:

When will I find out whether I passed?

When will I find out whether I passed?

You will receive a written notice about the result of your exam within one week.

What is the failure rate?

What is the failure rate?

Thanks to our excellent teaching materials and the commitment of our participants we have so far a 0% failure rate related to the entire course. If a participant fails the exam for module 1 - 3, he has the opportunity to retake the exam up to two times. If the participant has failed in one or more sub-module examinations but has passed other sub-module examinations of the same module, he only has to retake the failed sub-module examination(s).

How often can I retake the exam in case I fail and which submodules must be repeated?

How often can I retake the exam in case I fail and which submodules must be repeated?

Both the exam for Module 1 as well as for Module 2 can be repeated twice. A module exam is passed once all the submodules have been successfully completed. Should a candidate score less than 75% of the maximum number of points in one or more submodules, but pass other submodules, he is only required to retake the submodules which he did not pass.