Program
CIPM Program Level I
USD 0.00
Earn an Advanced CIPM Specialty Designation
The Certificate in Investment Performance Measurement (CIPM®) Program leverages the expertise of CFA Institute, the respected global leader in investment education, ethics, and standards, to deliver practice-based approaches and develop skills for effective investment performance evaluation and manager selection.
The CIPM Program curriculum prepares you in effective investment performance (return and risk) evaluation, manager selection, and investment reporting based on the Global Investment Performance Standards (GIPS®) standards.
How do I complete the program?
- Successfully pass two exams*
- Have 4,000 hours of professional work experience in the investment decision-making process (accrued before, during, or after passing the CIPM Program exams)
- Join CFA Institute as a regular member
- Participate in the Mandatory Professional Learning (MPL) Program
*CFA charterholders and those who have successfully passed the Level III CFA® exam can enter and complete the program directly at Level II.
Exams That Evolve in Complexity
As you pursue your investment performance evaluation certification, it’s important to understand the different exam levels. Level II of the curriculum builds on Level I and increases in complexity. Level II also contains all manager search and selection content.
- The Level I exam emphasizes the conceptual foundations of performance measurement, attribution, appraisal, and presentation, as well as the GIPS standards. This level is weighted more heavily on performance measurement and attribution.
- The Level II exam emphasizes performance appraisal and manager selection, including application of the appropriate tools and inputs in more complex investment decision-making situations.
*CFA charterholders and those who have successfully passed the Level III CFA® exam can enter and complete the program directly at Level II.
CIPM Exam Prep Providers
In addition to the study support provided by CFA Institute, some candidates benefit from exam prep courses and materials. The CFA Institute Prep Providers below agree to follow CFA Institute guidelines and high standards in their offerings and communications with CIPM® candidates.
Exams Offered Internationally
The CIPM exams are offered at many Prometric test centers around the world. After you register, you can schedule your own exam appointment - through your CFA Institute account - at your preferred test center. To find availability, select the start and end date for your desired exam window.
Program Fees
When you register for your first CIPM exam, you will be enrolled in the program. The cost of the exam depends on when you register. There are no entrance requirements*, but during the registration process, you must agree to the CFA Institute Code of Ethics and Standards of Professional Conduct.
All fees shown are net of any local Value-Added Tax (VAT), Goods and Services Tax (GST), Sales Tax or any similar tax payable by the candidate in their country of residence. Where CFA Institute is required to collect such taxes at the local statutory rate, this will be added to the fees shown during the payment/checkout process.
For information about taxability related to online purchases from CFA Institute, please visit our Tax Policy page.
*Residents of certain countries may be prohibited from participating.
