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CIPM® Program

Registration closed

Registration is currently closed and will reopen on 1 March 2025.

Curriculum

Earn an advanced specialty designation developed by the leaders in investment education. To make sure you study the most pertinent topics in our industry today, we consult with experts when developing the CIPM curriculum, because when you equip yourself with the skills needed in the current financial environment, you’re setting yourself up for success.

Building your skills over time

The CIPM Program consists of two levels. Level II of the curriculum builds on Level I and increases in complexity. Level II is also where you will study manager search and selection content.

Level I: Performance measurement and attribution

Emphasizes the conceptual foundations of performance measurement, attribution, appraisal, and presentation, as well as the GIPS standards.

Level II: Performance appraisal and manager selection

Looks at the application of appropriate tools and inputs in more complex investment decision-making situations.

Curriculum topics

There are six main topics that you’ll study across Level I and Level II of the CIPM Program. We collaborate with investment management professionals to ensure the CIPM curriculum is relevant to current industry practice, so you can start applying your knowledge straight away.

      Topic

      Domain weight

      Ethics and Professionalism

      15%

      Performance Measurement

      35%

      Performance Attribution Analysis

      25%

      Performance Evaluation and Appraisal

      10%

      Portfolio Performance Presentation

      15%

      Topic

      Domain weight

      Ethics and Professionalism

      15%

      Performance Measurement

      5-10%

      Portfolio Performance Presentation

      10-15%

      Performance Attribution Analysis

      15-20%

      Performance Evaluation and Appraisal

      15-20%

      Manager Selection

      30%

        Discover the importance of ethics and professional standards and learn how to apply them in the workplace. The topic covers work ethics that help you ensure compliance with laws, regulations and professional standards. You will also study social ethics to communicate clearly and concisely with individuals you represent and engage with in the workplace.

        Exam topic area weight across levels:

        Level I

        Level II

        15%

        15%

        Learn how to measure the performance of a security, asset class, portfolio, or composite to inform asset owners' and portfolio managers' investment decisions, in addition to learning how to determine portfolio performance policies.

        Exam topic area weight across levels:

        Level I

        Level II

        35%

        5–10%

        Develop the skills needed to identify sources of portfolio risk and return.

        Exam topic area weight across levels:

        Level I

        Level II

        25%

        15-20%

        Learn how to determine if a manager's investment results were due to skill or luck.

        Exam topic area weight across levels:

        Level I

        Level II

        10%

        15-20%

        Build skills in manager performance evaluation and selection and learn how to build portfolios of investment managers to achieve a client's risk and return objectives.

        Exam topic area weight across levels:

        Level I

        Level II

        0%

        30%

        Learn how to prepare a performance presentation that fairly and accurately reflects the performance of a firm or a portfolio.

        Exam topic area weight across levels:

        Level I

        Level II

        15%

        10-15%

        What does the CIPM curriculum contain?

        The curriculum for each level includes:

        • Topic-level learning objectives. These indicate the depth of knowledge you are expected to have in each major topic area at a particular level
        • Learning Outcome Statements (LOS). These are objectives for study sessions and/or specific readings that indicate the level of knowledge you are expected to gain from each lesson
        • Custom readings. There will help you efficiently master the topics

        All exam questions relate to content from that level’s curriculum. Each exam question is explicitly based on one or more LOS.

        Start learning today by viewing our study sessions.

        CIPM® Program

        From USD 775
        /exam *
        *See fees & calendar tab for details.
        • Credential - 2 levels / 2 exams
        • Advanced level
        • 155 hours per level
        • Self-paced online learning
        • Learning materials included

        Frequently asked questions

          There are no specific prerequisites for enrolling in the CIPM Program, although candidates typically have some experience in investment performance measurement, analysis, or a related field.

          Earning the CIPM designation helps professionals gain advanced knowledge in performance attribution, GIPS® Standards, and risk management, improving career prospects and credibility in the investment industry.

          The CIPM Program consists of two levels and can typically be completed within 18 months, depending on the candidate's pace of study and other commitments.

          From studying through to exam day and beyond, we have a variety of resources to help you successfully complete the CIPM Program. Visit CIPM Program candidate resources to learn more.

          Need help?

          Visit customer support to find an answer or talk to our team.
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