The PFM Exam is a full day exam consists of a pencil and paper or computer based multiple choice exam (depending on the setting for each examination center) and a computer based exam given as a single level examination. The exam is delivered is English language.
The examination tests candidate on conceptual and analytical financial knowledge and his/her capability to apply financial concepts by developing a standardized financial model based on a spreadsheet program which is mostly on Microsoft Excel which has to be completed within a time limit.
PFM Exam is a seven and half hour long exam consists of multiple choice and Computer Practice Examination. Multiple choice exam consists of 100 multiple choice questions which must be completed in 2.5 (two and half) hours and computer practice examination consists of 1 question which must be answered by preparing full set financial model in the form of spreadsheet in 5 (five) hours.
There are no penalties for incorrect answers.
To pass the PFM Examination, the candidate must pass both modules of the examination
In order to obtain PFM Designation, candidate must pass both examination. Candidates who fail on exam may retake the exam. They only need to take the module which they have failed. Candidates are given three times to retake exam. If Participant fails on the fourth examination, participant needs to sit again in PFM preparatory training.
Candidate needs to obtain minimum score of 60 in both modules (Multiple Choice and Computer Practice Examination) in order to pass the exam. The scoring methodology is the proprietary of IFMI and will not be disclosed to public.