Professional Financial Modeler

Certification for Financial Modeling Professionals
Professional Financial Modeler

Certification for Financial Modeling Professionals

FAQ - Professional Financial Modeler


There are adhoc functions held primarily by PFM active Designation Holders based on professional contribution through appointment by IFMI Chairman or Head of Bureau.

  1. Contributors
    Highly knowledgeable individuals with the willingness to research and explore new methodologies and techniques and develop them into a study format.
  2. Examiners / Graders
    Persons assigned with tasks of grading PFM examination.
  3. Ethical Committee
    Consists of Active Designation Holders with an interest in compliance and professional integrity. The main task is to investigate and conduct a judgment process on possible ethical issues and violation of IFMI standards.

PFM Curriculum is based on Body of Knowledge (BOK) which is divided into 7 main Sections, namely:

  1. Accounts and Reports Used for Financial Model.
  2. Forecasting Techniques and Assumptions.
  3. Financial Projection.
  4. Valuation Methodologies.
  5. Financial Model Sustainability and Risk Analysis.
  6. Project Financial Model.
  7. Credit Analysis Based on Financial Model.

The BOK is further organized into sub topics called Detailed Outline Subtopic (DOS). Each DOS covers specific subtopic which is then expounded into PFM Program Module. The number of DOS keeps on expanding. DOS is the basis for content in the module and what participant can expect in PFM Exam.

PFM Curriculum is standardized and updated from time to time. Class delivery by Registered Training Providers may not deviate from the curriculum.

Training providers may develop modules, presentation materials (slides), spreadsheet for their own program. IFMI is not responsible to the accuracy of such materials.

PFM Program is an international designation, meaning the holders may use the Designation in any country without restriction. PFM Program has acquired a global accreditation from International Accreditation Services (IAS) from the USA, a highly reputable accreditation body. Since there are many PFM participants coming from Indonesia, PFM Program has also acquired accreditation from Komite Akreditasi Nasional (KAN), an Indonesian government accrediting organization. The accreditations will ensure that the whole certification process is conducted in accordance with global standards. process based on ISO 17024 to ensure that the whole process conducted is in accordance with the global standard set for the certification body.

When you already obtain PFM Designation and remain active Designeted Holder, your basic profile along with your designation is searchable in PFM Website in Designation Holder Search section. That means anyone can verify the validity of your designation and understand that you already have the competence as required in order to attain the designation.

The structure of the PFM certification program and process is developed based on ISO 17024 to ensure adherence to the global standard for professional education. The adherence to the internationally accepted standard is designed to ensure the impartiality and fairness of the certification process. That causes your PFM Designation to become a trustful hallmark of your personal competence in the eyes of clients and employers. Such trust will enhance your personal equity and help propel your career. To enhance its credibility further, IFMI has obtained accreditations from The International Accreditation Service (USA) and Komite Akreditasi Nasional (Indonesia).

To ensure that the certification of a certified person remains active, the person must conduct a periodic Recertification Program every 3 (three) years. The PFM Recertification scheme uses “Continuous Proficiency Development” points (or CPD points) to ensure the Certified Person’s eligibility to continue to use the PFM Designation.

No. PFM Examination only tests your knowledge about pure financial modeling knowledge without requiring knowledge on the use of programming languages commonly used in models or understanding certain software programs other then spreadsheet programs. Why? Because financial model and analysis is already a complex subject to master. Learning programming language is another subject which is not easy as well and there are currently many different programing languages. The language used also keeps on changing. Devoting learning time on programming languages will easily divert attention from the the more important core curriculum. If a Candidate needs programming knowledge, it is suggested that Candidate takes separate training class dedicated only to learn about programming languages.

In many jurisdictions, the establishment of professional certification program must ensure the adherence to local occupation standard in order to obtain local government recognition or permission. This may cause the program to become irrelevant in other countries. To avoid government intervention, IFMI is structured as web based global organization. To ensure legality of the program, the body is legalized in certain jurisdictions.

In order to attend PFM Examination, the Candidate needs to have a basic understanding about accounting and finance and have good familiarity with Microsoft Excel, Open Office, or similar software. Candidate needs to study about PFM Curriculum in order to pass. The candidate is NOT required to have education or professional experience in financial modeling or finance. The Candidate needs to have a Bachelor’s degree or in the final year of taking an undergraduate program. The candidate who does not have a bachelor’s degree or not taking an undergraduate program may be eligible to obtain PDM Designation as long as the Candidate minimally has 2 years of working experience.

The Candidate must have sufficient comprehension of written English as examination information on the Website, documents, and the examination materials are presented in the English language. The Candidate must be able to operate a computer or laptop with Windows operating system. The Candidate must be proficient in preparing corporate financial models using spreadsheet applications or other software as determined for a specific examination. The spreadsheet used in the examination is the Spreadsheet application of Libre Office. The Candidates need to have the ability to see well, should not be blind, and be able to use the computer independently.

IFMI has a partnership with some institutions committed to providing PFM Certification Preparation Training Program that uses the PFM BOK as the main learning source for the training participants. This institution is known as Registered Training Provider. Training is not mandatory for the PFM Certification.

IFMI is NOT responsible for the output and outcomes of RTP’s training, promotional and communication activities, and the quality of their learning material and will not take into consideration in the decision for PFM Certification.

PFM is not developed based on occupation standard set forth by government in a single jurisdiction which may undermine the ability of its holders to access global market. But instead, PFM curriculum is developed based on the understanding about the needs of financial modelers in common to gain the knowledge which enables them to stay ahead of market. This ensures worldwide recognition to your PFM designation.

If you fail in one of 2 modules in the exam, you need to retake exam ONLY on the module that you fail. There is no limit on how many times you can retake PFM Examination.

Commonly, the grading process on a model prepared based on spreadsheet requires a lot of judgment on the grader side as no one develops models which are exactly the same. Different graders will look at the same model on different perception, causing substantial bias which undermines the credibility of the examination itself. To avoid that, grading process in PFM Program employs procedure to ensure fair grades where each candidate receives score he/she deserves. The computer practice examination is standardized in such a way that will greatly minimize discrepancies between graders. The use of multiple human graders also minimizes the impact from personal subjectivity. If a Candidate has reason to believe that the grading process is conducted unfairly, he/she can simply request for appeal or file a complaint which will be acted upon within a certain time limit.

IFMI does not conduct preparation classes in the form of clasroom or online learning. However, a Registered Training Provider may only mention its program as PFM Preparation Program if the program is bundled with PFM Examination. Contact your Registered Training Provider to obtain the detail of the program they provide to you. To see the list of Registered Training Provider and the service they can provide click here

In each country, IFMI sets the examination pricing. The pricing may be different in each country by considering many factors including the cost of running examination in that country, local taxation and the operational costs involved.

Yes, you can.

Please find the information here.

You may also contact for more information.

Financial Model, Financial Analysis and understanding about accounting are required skills that have to be mastered for individuals seeking career in finance, investment and risk management field. They are commonly important job functions required in many highest paying jobs in financial sector. Understanding about how to develop sound models and how to analyze them is a must for all professionals dealing with strategic decision making and analysis.

RTP may provide an online program. For detail, please visit here.

Copyright International Financial Modeling Institute © 2023. All Rights Reserved.