Accredited Financial Examiner FAQ
What is the Accredited Financial Examiner?
According to the Society of Financial Examiners (SFE), a candidate must first be an Accredited Financial Examiner before becoming a Certified Financial Examiner (AFE). The Accredited Financial Examiner is a professional who works in the discipline of business administration, primarily accounting, but may also work in economics, finance, or another related sector.
A career as a Certified Financial Examiner (CFE) may provide you with the opportunity to learn about financial markets while also assisting businesses in understanding the regulatory problems surrounding certain transactions. Continue reading to learn more about the education and certification requirements for this position, as well as the job forecast.
What are the requirements for the exam?
Bachelor’s of Science or 2 continuous years of financial experience in related fields; To qualify for the AFE designation, the candidate must be a General Member in good standing in the Society of Financial Examiners.
What are the major topics that the exam cover?
The important topics that the Accredited Financial Examiner exam covers are life and health insurance, property, and liability insurance, accounting property insurance, etc.
Who is the Accredited Financial Examiner?
They works in the field of business administration with a concentration in accounting, though economics, finance, or a comparable discipline might be acceptable.
What is the format of the exam?
The questions of the exam are available in the form of multiple choice.
What You Should Know about the Accredited Financial Examiner?
A financial examiner is a third-party professional who examines financial data to ensure that institutions are following all rules and regulations. Financial examiners typically work for the federal and state governments, ensuring that financial and securities transactions between companies are legitimate. Many financial examiners, on the other hand, work for brokerage firms and act as third-party mediators, checking for any violations of federal or state standards in transactions.
What is the examination retake fees?
Non-member fees are $275 for the first exam and $210 for retakes.
How much does one need to score to pass the examination?
For AFE tests, a passing score of 70% is required, whereas, for CFE tests, a score of 74% is required.
What are the prospects for a Career?
Financial examiners investigate all relevant financial data between clients or firms, either as part of a study team or separately. Often, especially if you work for the government, you or your group has the authority or requires further permission to demand more financial information from businesses. In order for you or your examiner team to review the transaction in question, legal and regulatory facts must be followed and understood properly. If you calculate or determine that there is insufficient information or that the financial figures do not add up, you have the authority to make or break big financial arrangements between corporations.
What is the procedure for certification?
According to the Society of Financial Examiners (SFE), you must first be an Examiner before becoming a Certified Financial Examiner (AFE). To become an Accredited Financial Examiner, you must meet five requirements. The first need is that you have a bachelor’s degree in accounting or a bachelor’s degree in finance with business law, auditing, basic accounting, and intermediate accounting courses.
