Frequently Asked Questions - AFM

BEFORE THE EXAM:

What study materials are available to help me prepare for the AFM exam?

You will be able to access the AFM exam learning materials on the FMI’s Community platform.

These materials include:

  • A 12-hour step-by-step financial modeling video tutorial series (60 videos)
  • Sample models
  • Practice exams and solutions
    1-hour Q&A session with FMI to address questions prior to the AFM exam

How many hours does it take to prepare for the AFM exam?

  • Preparation or study time for the AFM exam will vary based on your familiarity with financial modeling, professional experience and academic background.
    Based on previous candidate feedback, preparation times vary from 50 to 100 hours.
  • We expect that the remainder of the preparation time will be spent self-studying (reading AFM documentation, working through the practice exams and solutions, and rewatching the video tutorials). 

What kind of Macros can I use during the AFM exam?

During the exam, you may create any Macros that you wish. Prior to the exam, you may use certain types of pre-built Macros. Pre-built Macros that control formatting (eg font colour, number format, etc.) and formula auditing are permitted. Your pre-built Macros cannot add text, formulas, or calculations to the model.

A friendly reminder that the remote proctoring software will be monitoring your webcam and screen throughout the exam!

What languages can I take the AFM exam in?

FMI exams are offered in English only. During the exam development process, FMI makes every effort to ensure that questions are written in clear, concise form, which avoids the use of colloquialisms or other terms and phrases that may be more difficult for a person whose first language is not English to fully understand.

DURING THE EXAM:

How long will the AFM exam last?

You will have four hours to complete the AFM exam. The exam timer will not start until you have completed the pre-exam check-in process with the remote proctoring software, Proctorio.

Can I take a break during the AFM exam?

Yes, restroom breaks are allowed during your exam. However, no extra time will be given for any absences once the exam has commenced.
Food and drinks are also permitted during the exam.

AFTER THE EXAM:

Can I retake the exam if I don’t pass?

Yes, you can retake the exam at a discounted rate of $300 USD. Alternatively, for $350 USD, you can schedule a Review Call—a 30-minute session with an FMI Grader to go over your previous AFM exam submission.

AFTER PASSING:

Where can I use my new AFM accreditation?

Following a successful exam result, you can use the AFM designation after your name. In the following ways:

  • After your full name in written correspondence and/or your email signature.
  • After your full name on business cards, letterheads and/or name plates.
    as an identifier on resumés, CVs, biographies, personal statements and/or published articles.
  • You will also be listed in the FMI Directory of Accreditation Holders, a searchable registry and community of accredited financial modelers.

How do I write out my AFM accreditation?

The AFM accreditation can be written as follows:

  • AFM: e.g. John Doe, AFM.
  • AFM holder: e.g. John Doe, AFM holder.
  • Certified AFM: e.g. John Doe, Certified AFM.
  • Certified Advanced Financial Modeler.

Will I receive a digital badge/certificate?

  • Yes, you will receive a digital badge and certificate upon successfully passing the AFM exam.
  • The digital badge and certificate will be sent with your exam results.
  • Your digital badge and certificate can be used to validate your achievement on social media and other online mediums.

Does FMI offer any other accreditations?

Yes, FMI also offers the Chartered Financial Modeler (CFM).

The accreditations build on each other, ie CFM accreditation can only be achieved if AFM accreditation has been completed.