Practical Proof
A rigorous exam based on a real business case
Candidates complete a financial model in Excel using information provided in a case scenario.
AFM Accreditation
The only accreditation that proves you can build a financial model and be trusted to drive decisions with it.
The financial modeling accreditation recognized globally by finance professionals.
AFM accreditation holders work at
Financial Modeling Institute's best practices are now embedded in Microsoft Copilot for Finance.
"We've partnered with Financial Modeling Institute (FMI) — the global body that credentials the industry's most demanding modelers. FMI's library of real-world financial modeling cases have become a foundational part of how we evaluate Copilot in Excel for finance work." — Microsoft
Reported by AFM accreditation holders
FMI candidate outcome survey, self-reported
97%
say the AFM accreditation strengthened their financial modeling skills.
88%
report a positive career or professional outcome after earning the AFM.
85%
would recommend the AFM accreditation to a colleague.
What makes the AFM unique
Flexible Prep
Designed for working professionals
The AFM reflects the type of modeling work finance professionals perform in corporate finance, investment banking, private equity, consulting, accounting, and related fields.
Real-world expertise
Built by practitioners
The AFM was created by experienced financial modelers who understand how models are used in real business decisions.
Guided Learning
Supported by learning resources
Candidates receive access to learning materials, model examples, and community resources to help them prepare.
Is the AFM for you
Built for finance professionals
Built for finance professionals
The AFM is relevant for professionals in:
Accounting
Investment banking
Private equity
Corporate finance
FP&A
Equity research
Asset management
Other areas of finance
No prior FMI program or coursework required to sit the AFM exam.
What changes after earning the AFM
You can build a financial model under real-world conditions.
The AFM validates that you can apply technical modeling skills under time constraints, from scratch and without templates.
You can explain and support your model's assumptions.
The AFM helps demonstrate your ability to communicate financial logic to clients, stakeholders, and senior colleagues.
You can apply judgment beyond the mechanics of modeling.
You can apply judgment beyond the mechanics of modeling. Skilled financial modelers interpret context, challenge assumptions, and stand behind financial conclusions.
Why the AFM Matters Now
AI can generate financial model outputs faster than ever. But financial modeling still requires professionals who can challenge assumptions, validate logic, and explain what the numbers mean.
The AFM is for finance professionals who want to demonstrate the technical skill to build a 3-statement financial model from scratch and the judgment to assess models with confidence, whether they are built by people or supported by AI.
The AFM accreditation verifies
"The AFM is an accreditation that verifies professional competence through a 4-hour, proctored exam."
Hear from AFM accreditation holders
“
FMI have put together a truly fantastic curriculum. I really enjoyed the experience and the financial modeling best practices that I've learnt and been able to apply.
”
“
The learning experience from this platform was enriching and provided hands-on experience that I can incorporate immediately into my professional pursuits. I am particularly impressed by the cohort, a group of curious minds eager to elevate financial modeling and continuously evolve in this ever-changing landscape.
”
“
I'm pleased to share that I have now been awarded the Advanced Financial Modeler (AFM) designation by Financial Modeling Institute (FMI)!... It's really just one step in a longer learning process. I'm excited to keep developing my modeling skills and applying them in practice.
”How the AFM works
From registration to accreditation
The AFM is a straightforward, flexible path for finance professionals at any career stage.
Upcoming exam dates · select one
October 24, 2026
Next
February 20, 2027
May 15, 2027
July 10, 2027
Advanced Financial Modeler
$725 USD
- Unlimited digital access to FMI Learning Resources for one year
- Internationally recognized accreditation
- Registration for your AFM exam
- Write from home or office
1
Register for an exam sitting
Select an upcoming exam date and complete registration. Exams are offered four times per year. Registration for the October 24, 2026 sitting closes September 25, 2026.
2
Prepare using FMI learning resources
Access the AFM learning materials, practice resources, and candidate guidance.
3
Write the exam from home or office
Complete the exam remotely using your own computer and a reliable internet connection.
4
Receive your accreditation
Successful candidates earn the Advanced Financial Modeler accreditation and digital badge.
Frequently asked
Answers for prospective candidates
What does the AFM exam involve?
You will be provided with a case study to explore before getting to work inside Excel, building an integrated 3-statement model of a company from scratch. You will need to complete this model during a 4-hour virtual exam.
To promote practical skills, you’ve got to demonstrate them. Get accredited as an Advanced Financial Modeler and demonstrate to employers, stakeholders and clients that you can build effective financial models that can be relied upon to drive decision making.
What learning resources are include in the AFM?
You will be able to access the AFM exam learning resources on the FMI Community platform.
Learning resources include:
- A 12-hour step-by-step financial modeling video tutorial series (60 videos)
- Sample models
- Practice exams and solutions
- 1-hour live online Q&A session with FMI to address questions prior to the AFM exam (offered twice per exam cycle)
How many hours does it take to prepare for the AFM exam?
Preparation or study time for the AFM exam varies based on your familiarity with financial modeling, professional experience and academic background. Based on previous candidate feedback, preparation times vary from 50 to 75 hours.
In addition to the video tutorial series, the remainder of your preparation time will be spent self-studying (reading AFM documentation, working through the practice exams and solutions, and rewatching the video tutorials).
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, letterhead and/or name plates.
- 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.
Ready to earn the AFM?
Take the next step toward independent recognition of your financial modeling ability.
