 Hey guys, it's MJ the student actuary and I got a subscriber asking me whether they should do the CFA or the CERA course after they've completed their actuarial science degree. Now the CFA and the CERA course are actually very very different. The CERAS, which is C-E-R-A stands for Chartered Enterprise Risk Actuary, whereas the CFA stands for Chartered Financial Analyst. And the CFA is actually very similar to the financial fellowship in actuarial science. In the CFA you've got three levels. You've got level one, which is very similar to subject C-T-8. You then have level two, which is very similar to the specialist subject in finance. And then you have CFA level three, which is very similar to the fellowship exam in finance. Whereas the CERA course is something completely different. That's where you're looking more at statistics, more risk measures and you're going more into mathematical and quant formulas and all that type of stuff. So if you become like say an actuary in life, pension, general or medical, then I would say that the CFA is actually a great course that can extend your knowledge about finance. If you've studied the financial fellowship, then and you have enough time and cash to pay for these CFA exams, then I would say do it because the material is very, very similar. However, I don't know if you guys saw my last video where I explained the investment world just very, very quickly. And if you see a CFA, somebody who plays more as the asset manager or an analyst for various stock exchanges. So an analyst will be someone who looks at you with various stocks and says this one's underpriced, that one's overpriced or is an asset manager who says okay, you know, which share should we buy and running the funds and stuff like that. Whereas an actuary specifically one who studied the fellowship in finance is at a level just above that as the investment consultant for the institutional investors. So this actuary will tell the institutional investor to say okay, this asset manager is very good or that asset manager is very good. So give your money to them, then the asset managers will take that money and depending on which fund it is, and I know I've got a few questions or subscriber questions asking me to explain the various funds, which I will do in time. But essentially they will then take the money and then purchase the various equities or bonds or whatever their mandate says. So though they're very similar in the sense that you're learning the same material, the actuary's client is more advising the institutional investor on which asset managers to go to, whereas the CFA is the actual asset manager or the analyst for the various securities. And then the CERA, the CERA course, that's something, like I said, a little bit different and that is equivalent to something known as an FRM, financial risk manager. But when it comes down to it, I mean, you don't need to be overqualified. I think if you if you've got one of them, it's good enough. The CFA is great for people who don't want to do the entire actuarial course, but want to be in the financial game. And what's nice about the CFA is that it is very widely recognized and, you know, a lot of people know what a CFA is and not that many people know what an actuary is. So there is that benefit of that. But I don't know about you guys, there are so many exams that for you to want to go and write some more. It does sound a little bit crazy, but you know what? More education is always better education. So if you've got the time and you've got the funds, I would recommend doing as many of these courses as possible. But I do feel that if you've got one, one is sufficient for you to get a good job or to go out and change the world. But as always, thanks so much for watching. And if you have any questions, please feel free to let me know in the comment section below. Thanks, guys. Cheers.