CFA Institute refunds over Rs 9cr

CFA Institute refunds over Rs 9cr

BS Reporter / Mumbai August 1, 2007

After the All India Council for Technical Education's (AICTE) direction to the Chartered Financial Analyst (CFA) Institute to cease all operations in India, the CFA Institute today announced that it has refunded more than Rs 9.2 crore to those CFA examination candidates who chose not to appear for the June 2007 examinations in India or who traveled to a test center outside of India to take the CFA examination.

Over 3,200 CFA candidates will receive a total refund of their examination fees for choosing not to sit for the exam, and more than 600 candidates will receive a partial refund of their exam fees for traveling outside of India to take the exam. Further refunds would be provided to those candidates who had purchased the CFA examination curriculum or CFA Program sample exams.

Registration and enrollment fees ranging from Rs 14,000 to Rs 46,000 were refunded to candidates who chose not to take the CFA exam in June 2007.  The refunded fees varied depending on when the candidate registered with the CFA program and the candidate