Introduction

The Financial Modeling & Valuation Analyst (FMVA®) certification is a professional credential focused on financial modeling, financial analysis, and business valuation. Offered by the Corporate Finance Institute (CFI), the program develops practical skills in building financial models, analyzing financial data and statements, and evaluating companies and investment opportunities using Microsoft Excel.

The certification is designed for professionals and aspiring professionals working in financial analysis, corporate finance, investment, financial planning, modeling, and valuation.

Program Objectives

The program enables participants to build integrated financial models, analyze financial statements and key performance indicators, prepare forecasts and budgets, and evaluate companies, assets, and investment opportunities.

It also develops practical skills in scenario and sensitivity analysis, cash flow modeling, Excel-based financial analysis, and the preparation of professional financial reports and presentations that support business and investment decisions.

Key Topics

Financial Analysis and Financial Statements

This topic covers the analysis of the three financial statements, vertical and horizontal analysis, financial ratios, performance analysis, and cash flow analysis.

Advanced Excel for Financial Modeling

Participants develop skills in financial and logical formulas, data analysis tools, pivot tables, and the creation of professional formulas for financial models.

Financial Modeling

This topic focuses on linking the three financial statements, building integrated financial models, preparing financial forecasts, and performing scenario and sensitivity analysis.

Business Valuation

Participants study key valuation methods, including Discounted Cash Flow (DCF), market multiples, comparable company analysis, and merger and acquisition valuation.

Financial Reports and Presentations

This topic covers the preparation of financial analysis reports for management, the presentation of findings to investors, and the development of dashboards and professional financial outputs.

Certification Requirements

To qualify for the FMVA® final exam, participants must complete 15 required core courses, complete at least 3 elective courses, and achieve a minimum score of 80% on the end-of-course assessments for the required courses.

After meeting the program requirements, participants must pass the final exam with a minimum score of 70% to earn the FMVA® certification.

Final Exam Format

The FMVA® final exam consists of 50 randomized multiple-choice questions, including Excel modeling case studies.

The exam is completed online without advance scheduling and has a time limit of three hours. Microsoft Excel is required, and results are provided immediately after the exam is completed.

If a participant does not achieve the passing score, a 30-day waiting period is required before retaking the exam. An active CFI subscription is required for exam retakes. The final exam is administered in English.

Target Audience

The program is suitable for accountants, financial auditors, financial analysts, banking and financial services professionals, and employees working in planning and budgeting departments.

It is also relevant for investment and corporate finance professionals, entrepreneurs and business owners, finance and accounting students and graduates, and individuals seeking to build careers in investment, portfolio management, financial analysis, and valuation.