FMI Level 1: Advanced Financial Modeler (AFM)

Introduction:

The Advanced Financial Modeler (AFM) is the first of three certification levels offered by the FMI. This exam forms the foundation for subsequent certification levels and focuses on the skills required to design and build integrated financial models.

The AFM exam provides participants with a unique opportunity to demonstrate their modeling proficiency through an intensive modeling exam within a controlled environment. Participants who pass the exam will achieve the Advanced Financial Modeler credential.

The AFM is the foundational level for earning the most respected financial modeling certification in the industry. It sets the global standard in financial modeling proficiency and allows you differentiate yourself in an increasingly competitive financial environment.

Learning objectives:

Level 1 Content Overview – Foundational Skills

• Financial model layout and best practices
• Intermediate-to-advanced Microsoft Excel skills
• Excel efficiency
• Scenarios Analysis
• Accounting fundamentals including financial statement construction and linkages
• Model schedules (e.g. Fixed vs Variable Costs, Working Capital, Deferred Taxes, Debt and Equity)

 

The AFM exam is based on self-study exam with individuals typically devoting between 25 and 100 hours to preparation, depending on their level of modeling experience. The FMI would recommend candidates undertake the following activities:

• Review the AFM Body of Knowledge >>
• Take a financial modeling course from a reputable provider
• Ensure a strong working knowledge of Excel
• Understand accounting concepts including the interaction between the income statement, cash flow statement and balance sheet
• Assess your exam readiness using the Skills Checklist >>
• Practice with a Sample Exam >>
• Manage your preparation with the Level 1 Study Guide >>

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