FINANCE & WEALTH MANAGEMENT

CERTIFIED INVESTMENT
MANAGEMENT ANALYST
(CIMA) Certification Leaders Program

Overview
Seismic changes in financial markets highlight
the need for objective, ethical investment advice
from a credentialed investment professional.
The Certified Investment Management Analyst
(CIMA) Certification program is the only credential
of its kind designed specifically for financial
professionals who seek competency as an
advanced investment consultant.
Wharton Executive Education has partnered
with the Investment Management Consultants
Association (IMCA) for more than 20 years to
offer the educational component of the CIMA
certification process. Whartons CIMA program
provides the knowledge necessary to ensure that
you are fully prepared to take the final CIMA
Certification Exam.
To further leverage the value and impact of this
program, we encourage companies to send cross-
functional teams of executives to Wharton. We
offer group enrollment benefits to companies
sending four or more participants.
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The CIMA certification offered through this program provides you with
significant benefits, including:
Financial services industry recognition of the CIMA certification as the
standard for advanced investment consulting.
A respected credential that communicates to clients and peers your high level
of competency, professionalism, and investment expertise.
Enhanced knowledge and advanced investment techniques that can improve
your practice and your clients overall experience.
The CIMA certification requires that you meet all eligibility requirements, including
experience, education, examination, and ethics. There are two steps you must
complete through IMCA before registering for the Wharton program:
Submit a CIMA application and fee, and undergo a background check
through IMCA
Pass the online Qualification Examination
Featured Video
Robert Luna, CEO, Surevest Wealth Management.
CERTIFIED INVESTMENT
MANAGEMENT ANALYST (CIMA)
Experience & Impact
This program focuses on the required topics
to prepare you for the CIMA Certification
Examination. Before coming to Wharton, you must
complete IMCAs self-study Level I Qualification
Examination. Upon completion of Level I, our
Level II program and exam are completed at one
of several week-long programs throughout the
The program culminates with a final exam. You must pass this exam to
year at Wharton. Through highly interactive, daily
successfully complete the education component.
review sessions, you will learn to apply, process,
and retain the necessary information to pass the After completing this intensive program, you will be fully prepared to take the
Certification Examination. Certification Examination. Participants who pass the Certification Examination join
Topics covered include: a select group of professionals who have earned this internationally recognized
Modern Portfolio Theory
credential.

Asset Allocation
Manager Search and Selection
Investment Policy
Performance Measurement

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CERTIFIED INVESTMENT
MANAGEMENT ANALYST (CIMA)
 Faculty ADDITIONAL FACULTY

A. Craig MacKinley, PhD

Joseph P. Wargrove Professor of Finance,
The Wharton School
Jeffrey F. Jaffe, PhD
Academic Director Richard C. Marston, PhD
James R. F. Guy Professor of Finance,
Associate Professor of Finance, The Wharton School
The Wharton School

Best known for his work on insider trading,

Professor Jeffrey Jaffes research interests
include corporate finance, investments, money
management, and the effects of information
on the behavior of security prices. A Wharton
faculty member since 1973, JA Wharton faculty
member since 1973, Professor Jaffe has been a
frequent contributor to finance and economic
literature in journals including the Quarterly
Economic Journal, The Journal of Finance, The
Journal of Financial and Quantitative Analysis, The
Journal of Financial Economics, and The Financial
Analysts Journal.

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CERTIFIED INVESTMENT
MANAGEMENT ANALYST (CIMA)

Certification Q&A
How do I register for the CIMA
Certification Program?
Register with IMCA on the website:
www.imca.org/cima-certification-
process
Application found at the following link:
www.imca.org/cima-application-fees
What are the requirements?
Passing an online qualification test. The
test is self-study and self-paced.
All information on this can be found at
the following website: www.imca.org/
cima-exams
Is there a required reading list
for Level I?
No. IMCA does provide suggested
readings on their website to help prepare
for the exam but they are NOT required.
For detailed topics and additional
resources, visit the website: www.imca.
org/cima-study-resources
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How long does it typically take to
complete Level I?
It is truly self-paced. IMCA states
that typical preparation lasts for
14 weeks, with 10 hours a week
of study.
If you feel like you have a grasp of
the topics covered on the exam, you
can sit for the qualification exam as
soon as possible.
How do I register for Whartons
Educational Component?
If you have successfully
completed or are registered for
the Qualification Exam, fill out the
application on Whartons website.
If not, contact IMCA to begin the
process.
How long is Whartons Educational
Component?
The program starts Monday
morning and ends Friday by
12:30 p.m.
What is the format of the exam?
It is a written test based on
qualitative and quantitative
aspects of the program.
How long does it take to receive my
grade?
We aim for three to four weeks,
but cannot guarantee this
timeframe because it is dependent
on many variables (e.g. size of class,
time of year).
Do I have to pass the Educational
Component exam to proceed to the
Final Certification exam?
Yes.
If I do not successfully complete
the Educational Component exam,
where can I take the make-up exam?
You can take the make-up exam
on the Friday of any subsequent
programs scheduled.
Please note that you must take
the exam at Wharton in either
Philadelphia or San Francisco. These
are the only locations where the
make-up exam is offered.
What is the difference between
the Philadelphia and San Francisco
programs?
There is no difference. The content
delivered and faculty are the same
in both locations.
CERTIFIED INVESTMENT
MANAGEMENT ANALYST (CIMA)
 What is the time frame for Level Any questions regarding Whartons
Exam & Other Steps I-III completion?
Pace is determined by the
registered Educational Component
content can be directed to:
individual applicant. It usually Megan McAnany
takes three to six months 215.898.1776
What is required for completion of the to complete. mmcanany@wharton.upenn.edu
Certification program?
Apply with IMCA for the certification
How long does it take to receive re-
examination after being notified by sults/designation after completing
Wharton that you have successfully the Level III exam?
completed the educational component of After completion of the
the program. Certification Exam, IMCA conducts
Visit the following link on IMCAs a second background check and
website for more information: www. sends initial license agreement
imca.org/cima-certification-process and renewal requirements for
candidates signature.
Where can I take the Level III exam? Contact IMCA directly for process
The exam will be administered at
and timelines.
more than 170 Applied Measurement
Professionals, Inc. testing centers All questions regarding initial
throughout the United States. application for CIMA certification,
the Qualification Exam or the final
Can I register for other levels while still Certification Exam should be
working on the previous course? directed to:
Yes, but it is your responsibility to make Theresa Bartlett
sure that all levels are successfully Director of Certification
completed before moving on to the next. Phone: (303) 850-3096
Email: tbartlett@imca.org
Website: www.IMCA.org/cima

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CERTIFIED INVESTMENT
MANAGEMENT ANALYST (CIMA)
Sample Program Schedule*

DAY 1 DAY 2 DAY 3 DAY 7 DAY 4

BREAKFAST

Welcome: IMCA Intro Modern and Measurement Bond Management Asset Allocation: U.S. Assets EXAM
Opening Announcements and Attribution

International Diversification
Modern and Post-Modern
Portfolio Theory

LUNCH

Modern and Post-Modern Performance Measurement Behavioral Finance Formalizing the Asset
Portfolio Theory and Attribution Allocation Analysis

Review Asset Allocation with

Alternative Investments
Study Time
Review

Review

DINNER

SCHEDULE A CONSULTATION:

+1.215.898.1776 (worldwide) | execed@wharton.upenn.edu

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*Program start and end times are subject to change.
Please DO NOT make travel arrangements based on this agenda.

CP-IMCA-0317