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CFA Challenge 2021 - Apply until 15th OCT!


Dear students,

are interested in directly applying your valuation and analysis knowledge? Then, we have the right opportunity for you!

The CFA® Institute Research Challenge is an annual global competition which provides university students with hands-on mentoring and intensive training in financial analysis and professional ethics. Each student participant will be tested on their analytic, valuation, report writing and presentation skills and gain real-world experience as they assume the role of a research analyst.

The Challenge starts in October 2021 and ends with a presentation in early 2022. It consists of the following components:

  • Analysis of a Public Company (subject company): Teams research the same public company, selected by the CFA Society Germany, including a question and answer session with the company management.
  • Mentoring by a Financial Professional: Each team is mentored by a professional research analyst, who reviews and critiques the team's report.
  • Research Report: Each team writes a research report on the subject company which is then critiqued and evaluated by experienced financial experts.
  • Presentation of Research: The best three teams (selected by their reports) present to a high-profile panel of CFA® Charterholders and executives from the financial industry. The winning team will be selected based on the combined scores for the written report and the presentation.
  • The winner will take part in the CFA Institute Regional Challenge for the EMEA-region in April 2022 and in case of success in the Global Final held in April 2022.

Quick Facts

  • Who is eligible to participate?
    Both undergraduate and graduate students. Experience in financial analysis and modelling is helpful.
  • Can we register as a team?
    Yes, the teams should consist of 3-5 students. You can also apply as a single student.
  • What is the timeline?
    Please apply until Friday October, 15th. We will then decide who can participate in the first round. Afterwards, the local challenge lasts until February followed by sub-regional, regional and global finals in March to April. Please refer to the timeline.
  • What is the CFA® Charter?
    The CFA® charter is a professional certification to investment and financial professionals consisting of intensive coursework ranging from investment analysis, statistics, financial analysis, corporate finance and portfolio management.
  • Is this comparable to a stock market game?
    No, as each team will analyse one company in-depth and present a full equity research report. The grading will not be based on the stock price predictions but instead on a thorough analysis of the company.
  • Who can we contact for questions?
    Please reach out or apply directly to Victor Wagner from RWP ( via mail.