Wright State Finance Students Outpace National Average in Chartered Financial Analyst Exam

Recent graduates from Wright State’s Raj Soin College of Business passed the Chartered Financial Analysts ®  examination Level 1 with an 80 per cent pass rate, surpassing the national average of 35 per cent.  This follows the unprecedented, first place wins Wright State students received in the Ameriprise ® national financial planning case competition this spring.

“This year’s CFA results are truly the culmination of a concerted effort among students, faculty and local area practitioners including the Dayton CFA Society,” according to Dr. Marlena Akhbari, Professor and Chair of Finance and Financial Services. 

Four undergraduate students and one MBA student took the exam.  Those passing the exam included, Vruddhi Choksy, Aaron Jenkins, Edward Wright, and Bounena Ould Sidi Mohamed.  The CFA certification is recognized by employers around the world and is ranked by The Economist as the gold standard among investment analyst designations

Dave Avdakov of U.S. Bank and board member of the CFA, praised both the students and faculty. “Having 80% of the students pass the Level 1 CFA exam is incredible. To become a CFA charter holder, one must pass three levels of very vigorous studies that test the investment decision making process.  The CFA designation measures investment competence and the highest standards of integrity in the fields of money management and investment research. This is an important differentiation as there have been many cases of individuals on Wall Street lacking ethical behavior.” 

According to Akhbari, students received invaluable support from the Dayton CFA Society whose members welcome all Wright State finance students at meetings, provide mentors for students and provide five $1,400 scholarships to help students prepare for the exam.  She added that Dr. Fall Ainina, Professor of Finance and Burhan Kawosa, Finance Instructor, were especially instrumental in inspiring students to succeed on the exam.

“The Dayton CFA Society has been teaming with local universities for the last several years.  Dr. Ainina has gone out of his way to be a great partner and teammate.  We appreciate all his and Burhan Kawosa’s efforts to educate and reinforce the values of the CFA Institute.” said Avdakov.

“We have long recognized the top caliber of our students. Under the leadership of Dr. Ainina, we have enhanced our curriculum with several advanced courses including derivatives, fixed income securities and corporate financial analysis. Our entire faculty also helped students focus more earnestly on passing the CFA Level 1 exam as they graduate.  Plus due to faculty sponsorships, students were able to take the exam at greatly reduced prices.” said Akhbari.

Edward Wright, a 2008 graduate, summed up his appreciation for the faculty and the program.  Wright is currently a trader/research analyst at CH Dean, Inc.

“I really owe my new career and great education to the faculty at Wright State who pushed me to pursue my CFA charter. The preparation given to me in my classes and support from the dedicated professors are the reasons I passed Level I of the CFA program. They believed in me when I didn't and encouraged me to study when I didn't want to. They brought the study program to Wright State, helped with scholarships for both the test and review course, and most of all included the necessary classes in the curriculum for my preparation. Without the Raj Soin College of Business, I could not have done it alone. Mr. Kawosa, Instructor, Dr. Ainina, are so dedicated to students and this program, they need to be sculpted on the quad or something” said Wright.

Editor’s Note: Chosky and Jenkins are from Fairborn, Ohio Mohamed is from Dayton, Ohio Wright is from Franklin, Ohio

Mohamed holds an MBA from Wright State and has previous experience with the United Nations UNICEF and environmental programs. Wright is a Trade/Research Analyst for CH Dean, Inc. in Dayton. Jenkins works at the Fund Evaluation Group (FEG) in Cincinnati and is pursuing his Masters of Accountancy at Wright State. Choksy, is an intern at Tudor Financial, Inc in Centerville where she serves as a Client Service, Portfolio Software and Research Specialist.