FMVA Certification
Updated on Dec 6, 2018 - 12:14 p.m. IST by Shraya Singh
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FMVA Certification - The Financial Modeling and Valuation Analyst or FMVA certification program is offered by the Corporate Finance Institute (CFI). This is an international level certification accreditation which is globally recognized as a benchmark for professionals in the domain of financial modeling and valuation. The FMVA certification program comprises various courses which are conducted online along with practice tests and a final assessment. In order to earn the Financial Modeling and Valuation Analyst credential, candidates are required to complete 12 courses and obtain at least 80% in the final assessment for each course. The course is available online throughout the year for interested applicants is delivered completely in the online format. 


FMVA Certification Eligibility

There are no specific eligibility requirements for candidates who want to pursue the Financial Modeling and Valuation Analyst program. All candidates are eligible for registration and participation regardless of their background and level of experience. Despite this, it is understood that FMVA certification applicants are in the professional domain of financial modeling and valuation or are pursuing an academic qualification in the same area of study. 

For candidates who do not have prior knowledge of some of the basic concepts required for the Financial Modeling and Valuation Analyst program, CFI offers a number of optional prerequisite courses which the candidate can pursue prior to the required FMVA certification courses. These courses are available to candidates upon registration to the FMVA certification program and the cost for these courses is included in the total CFI tuition fee. 

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FMVA Registration 

In order to register for the Financial Modeling and Valuation Analyst program, candidates need to simply fill in the the registration form for FMVA certification which has been offered by CFI. This form is to be filled out in the online format and requires the basic details of the candidate including personal information and contact details. Candidates must make the full course payment after filling out the registration form in order to complete the Financial Modeling and Valuation Analyst registration process. 

Click here to register for FMVA certification!


FMVA Course Requirements

In order to obtain the FMVA certification, candidates are required to completed a number of online courses which focus on various aspects of financial modeling and valuation. This include three types of courses:

  • There are 7 optional prerequisite courses which deal with fundamentals and revision for the required course content. 

  • There are 9 required courses that all Financial Modeling and Valuation Analyst aspirants need to complete. 

  • There are 3 elective courses which each candidate needs to complete from 8 different course options. 

Therefore, candidates need to complete a total of at least 12 courses in order to be awarded the Financial Modeling and Valuation Analyst certification. In order to complete the entire coursework, it takes students anywhere from 50 to 100 study hours. The course content is delivered entirely online in a variety of formats which includes video lectures, multiple choice tests, quizzes and hands-on exercises. The various courses available along with the prerequisite courses required and the CFI recommended study time have been listed in the tables given below.


FMVA Certification Optional Courses

Course Title

Recommended study time

Prerequisites required

Accounting fundamentals

1-3 hours

No prerequisites required

Reading financial statements

1-3 hours

No prerequisites required

Fixed income fundamentals

1-3 hours

No prerequisites required

Excel crash course for corporate finance

1-3 hours

No prerequisites required

Introduction to corporate finance

1-3 hours

No prerequisites required

Math for corporate finance

1-3 hours

No prerequisites required

Excel modeling fundamentals

1-3 hours

Accounting fundamentals 

Financial models and templates library

N/A

No prerequisites required

FMVA Certification Required Courses

Course Title

Recommended study time

Prerequisites required

Financial analysis fundamentals

2-4 hours

  • Accounting fundamentals

  • Reading financial statements

  • Excel crash course

Building a financial model in Excel

2-4 hours

  • Accounting fundamentals

  • Financial analysis fundamentals

  • Excel crash course

Business valuation modeling

2-4 hours

  • Accounting fundamentals

  • Reading financial statements

  • Excel crash course

  • Building a financial model in Excel

Budgeting and forecasting

2-4 hours

  • Accounting fundamentals

  • Reading financial statements

FP&A monthly cash flow forecasting

2-4 hours

  • Building a financial model in Excel

Scenario and sensitivity analysis

2-4 hours

  • Building a financial model in Excel

  • Business valuation modeling

Advanced excel formulas

2-4 hours

  • Excel crash course

  • Building a financial model in Excel

  • Scenario and sensitivity analysis

Dashboards and data visualization

2-5 hours

  • Excel crash course

PowerPoint and pitchbooks

2-5 hours

  • Building a financial model in Excel

  • Business valuation modeling

FMVA Certification Elective Courses

Course Title

Recommended study time

Prerequisites required

Behavioral finance fundamentals

2-4 hours

No prerequisites required

Real estate financial modeling

4-8 hours

  • Building a financial model in Excel

  • Business valuation modeling

Startup /e-commerce financial model

4-8 hours

Mining financial model & valuation

4-8 hours

Mergers and acquisitions (M&A) modeling

4-8 hours

  • Excel crash course

  • Building a financial model in Excel

  • Business valuation modeling

Leverage buyout (LBO) modeling

4-8 hours

Financial modeling with VBA

2-5 hours

  • Building a financial model in Excel

  • Business valuation modeling

Corporate and business strategy

3-6 hours

  • Introduction to corporate finance

  • Building a financial model in Excel

  • Business valuation modeling

FMVA Certification Syllabus

The syllabus which is covered in the Financial Modeling and Valuation Analyst course is derived from the CFI body of knowledge. Over the course of the program, students learn about the necessary concepts and tools which they need to master in order to excel in the professional domain of financial modeling and valuation. 


FMVA Certification Syllabus Distribution

Subject 

Weightage 

Financial modeling

25%

Finance 

23%

Excel 

17%

Valuation 

10%

Budgeting and forecasting

8%

Presentations and visuals

8%

Accounting 

5%

Strategy 

4%

The CFI body of knowledge has been designed to imbibe individuals with the practical knowledge and skills they need in order to excel in the professional world. The various broad subject areas and concerned topics which constitute the FMVA certification syllabus CFI body of knowledge have been listed below.

FMVA Certification Syllabus

Subject area

Topics

Accounting

Constructing a balance sheet and income statement; Constructing a cash flow statement; Understanding the balance sheet; Understanding the income statement and cash flow

Budgeting, forecasting FP&A

Budgeting within a strategic framework; Building a robust budgeting process; A practical guide to developing budgets; Forecasting techniques; Tracking budget performance with variance analysis; Applied budgeting tools and techniques in Excel; Financial modeling best practices; Modeling cash flows; Building your financial model in Excel; Enhancing your model

Excel

Excel layout; Excel settings; Basic financial analysis setup; Advanced financial analysis setup; Functions and formulas; Excel tips and tricks; Better formulas; Catering for uncertainty; Adulting a model; Excel template setup; Financial statements; Financial analysis; Macros; Introduction to VBA for financial modeling in; Excel; Design, build and run VBA sub procedures; Create customized excel functions; Branching looping and procedure code

Finance

Fixed income products and markets; Pricing fixed income securities and duration; Overview of corporate finance; Business valuation; Mergers and acquisitions; Debt financing; Equity financing; Corporate finance careers; Decision making biases and errors; Information processing errors; How decisions are impacted by others

Financial analysis

Vertical and horizontal income statement analysis; Balance sheet and leverage ratios; Cash flow statements and ratios; Rates of return and profitability analysis

Financial modeling

A structured approach to financial modeling; Forecasting income statement and balance sheet items; Debt and financing schedules; Building a free cash flow forecast; Scenario analysis; Sensitivity analysis; Cap rates and net operating income (NOI); Land loans and construction loans; Real estate development financial model; Joint ventures and cash flow waterfalls; eCommerce financial model; Customer metrics; DCF valuation modeling; Introduction to the mining industry; Valuation metrics; Mining financial model; M&A model structure; Acquirer and target models; Transaction assumptions; Closing balance sheet; Pro forma financial model; Accretion and dilution

Math

Discounted cash flow (DCF); Bond pricing and yields; Key statistical skills; Covariance, correlation and regression

Presentation

Data visualization; Excel visuals; Focus attention; Storytelling; Excel dashboards; PowerPoint layout; Design principles; PowerPoint setup and functions; Slide masters; Formatting tips; Transitions; Animations 

Valuation

Equity value vs. enterprise value; Valuation multiples; Comparable company analysis (Comps); Precedent M&A transactions (Precedents); Discounted cash flow (DCF) analysis; Weighted average cost of capital (WACC); Presentation of results

At the end of the course, candidates will have to participate in a final assessment which will cover all the topics introduced through the course content. In order to obtain the Financial Modeling and Valuation Analyst certification, candidates need to obtain at least 80% in the final assessment for each course. 


FMVA Certification Test Dates and Locations

As the Financial Modeling and Valuation Analyst credential course is offered in the online mode of delivery, there is no specific test centre or test location for the FMVA certification program. Therefore, it is a program which is highly suitable for professionals as the course content can be accessed anywhere with an internet connection. The program is also available throughout the year and therefore there are no specific deadlines for application or registration. There are also no deadlines for course completion and the course content will be available to the candidate indefinitely after registration to the FMVA certification. 


FMVA Certification Fees

The Financial Modeling and Valuation Analyst credential course fees are USD $497. These fees are subject to change as published by the CPI. The FMVA certification cost or the CFI tuition for Indian candidates is INR 21,000.

The total course fees for the Financial Modeling and Valuation Analyst course and credential or the CFI tuition includes the cost for the following:

  • 25+ courses and certificates

  • Exclusive library of excel model templates

  • Digital certificates (blockchain verified)

  • All exam fees for the FMVA certification

  • Financial modeling and valuation analyst certification

  • Lifetime access to CFI 

  • All future upgrades


FMVA Certification Result

Candidates who successfully complete the Financial Modeling and Valuation Analyst course will receive the FMVA certification. The FMVA certification will be emailed to the candidate within 24-48 hours of successful course completion and fulfilment of the program requirements after processing. The certificates for each of the individual courses will be emailed to the candidates immediately upon course completion and final assessment completion. 

Candidates can also order a physical copy of their FMVA certification upon successful completion of the Financial Modeling and Valuation Analyst course. The physical FMVA certification is sent to candidates by mail only upon special request. 

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