Bloomberg and CFA Institute Launch the CFAPRO Database, Where CFA Knowledge Meets Real-World Practice

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By Zee

Bloomberg for Education and CFA Institute have recently launched the CFAPRO database on the Bloomberg Terminal, a function that matches the Learning Outcome Statements (LOS) of the CFA Program to Bloomberg data, news and analytics.

We heard of the release, but didn’t really know what exactly CFAPRO was. Luckily for us, we were invited to Bloomberg’s London offices for a demo of CFAPRO. Read on to see what we found out!

About Bloomberg for Education

Bloomberg for Education assists universities in getting Bloomberg Terminals and to establish dedicated learning spaces called Bloomberg Finance Labs. The Terminals help research and also give students hands-on experience to prepare them for careers in a slew of industries, including accounting, business, computer science, economics, energy, financial services, financial engineering, government and management.

Bloomberg for Education also runs the Bloomberg Market Concepts course (which we’ve also previously covered and can recommend), an 8-hour, self-paced e-learning course covering main financial concepts and Bloomberg Terminal functionalities. 

According to Rob Langrick, head of Bloomberg for Education, more than 19,000 Bloomberg Terminal users have self-reported that they are CFA charterholders, with many more as current candidates. They are also a gold sponsor of the CFA Institute Research Challenge, an annual, global competition that providers university students with hands-on mentoring and intensive training in financial analysis.

CFAPRO is a newly-launched collaboration between Bloomberg for Education and CFA Institute, and the result of nearly two years of development.

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What is CFAPRO?

CFAPRO is a CFA-specific function built into all Bloomberg Terminals around the world. It is a database that maps 387 (and counting) Bloomberg Terminal functions to majority of the readings and concepts found in the CFA Learning Outcome Statements (LOS).

Why should CFA candidates care? Candidates will know that one of the most powerful methods to grasp a tricky CFA concept is to work through an example, preferably a grounded and real-world one. The CFAPRO functionality allows you to look up any CFA LOS, where it will show whether it has a mapped function to it. If a function is available, clicking it will bring you straight to a real-world example demonstrating that particular LOS.

Being able to call up specific Bloomberg functions mapped to CFA LOS is a very powerful learning tool for the CFA exams. From our quick demo, it was clear to us that current CFA candidates would find this a much-welcomed addition to their study toolkit, immediately showing specific, real-world examples to CFA concepts as they learn them.

How CFAPRO works

Still confused as to how it works? The best way to understand how CFAPRO works is to see it in action, but in lieu of that, we’ve done our best to run through an example here.

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How to use the CFAPRO function on the Bloomberg Terminal

  • In any Bloomberg Terminal screen, type in {CFAPRO<GO>} and you will bring up the CFAPRO database.
  • You’ll be able to navigate through to any LOS in any CFA Level. All LOS are displayed, although some LOS may not have functions mapped (yet). Bloomberg is constantly working on getting more functions mapped so this will only increase with time.
  • Select one LOS, and you’ll be brought to a Bloomberg Terminal function that’s directly relevant to the selected LOS, where you can explore and test it with real-world data.

Here’s an example showing a function mapped to an LOS about common-size balance sheets, showing the financial analysis of IBM:

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How do I get access to CFAPRO?

If you have access to a Bloomberg Terminal, you already can access CFAPRO. Just type in {CFAPRO<GO>} from any screen in the Bloomberg Terminal.

You unfortunately can’t access CFAPRO unless you have access to a Bloomberg Terminal. However, it is possible that you could find access to one. Here are some options:

  • If you’re a student, check if your university library has access to a Bloomberg Terminal, and if they don’t, you can ask your department to consider getting one
  • Some large public libraries also have Bloomberg Terminals, such as the New York Public Library

What do you think?

What are your impressions of CFAPRO so far? Let us know in the survey below:

Zee Tan
Author: Zee Tan

300Hours founder

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