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CQF是什么?CQF国内认可度高吗?

2021-10-11 Meteor
最近看了下CQF这个证书,觉得他的特点是part time。
这里先说下CQF是个啥吧,防止有些人还不知道。官方意思:CQF的全称是Certificate in Quantitative Finance中文翻译为量化投资分析师,是由Paul Wilmott博士领导的国际知名的数量金融工程专家团队设计和推出,是量化金融领域最高级的专业资格,并获得了全球众多金融公司的认可。
CQF证书样式
Paul Wilmott应该都认识,量化学术界还是很出名的,尤其在国外。他是牛津大学量化金融项目创始人,也是量化投资基金凯萨资本的创始人,还发表过100多篇关于金融与数学的研究性论文,也有不少书被翻译成中文,做为高校的教材,总之很牛就对了!
从CQF的课表看,学习的话应该半年的打基础差不多。基本的随机分析、martingale、PDE、蒙特卡洛、时间序列,以及在金融工程这个小范围里的编程。有了一定的基础后,再看金融数学书或是看程序时,至少会comfortable。这种感觉至关重要!也就是有种“噢,原来不难,可以理解,并不是天书”的感觉,往后是不是就可以self-motivated,自己找些书来看,自己试着编写些程序了。CQF&MFE给了一个入门的机会,但也是比较最关键的一步!
不过,CQF的门槛要比MFE低很多!从Alumni看,有大量以independent的身份就读,估计就是那些纯金融、甚至与金融完全无关的想看看数量金融到底是些什么的同学。部分有统计背景的人或许无法理解小白的好奇心。量化金融并不是well-defined,对于数学编程都不懂的同学,我猜只要有数学的金融都算量化。
至于P-Quant和Q-Quant的问题,根本不需要担心。半年一年后你再决定想具体往哪条路走也不迟。当下你所能看见的几乎所有金融、数学、编程知识在另一些人看来都只是常识,多学没错。
另外一些可能性:Q这一端掌握得好,你modelling的能力会大大增强,比如金融硕士可以接金融PhD啊,将来当商学院的AP,摆脱业界的纷纷扰扰。P端的话也可以读博做金融实证,不过大多数实证文章我们不会去看,属于无意义的实证,放到业界就是很多量化策略其实不赚钱。
CQF能够学习到的东西还是很多的,大致来说可以说是以传统的金融工程为基础,在叠加最前沿的金融领域的课程,课程的设置六门必修课程和两门选修课程,课程内容的话,大家可以看看CQF课程内容的大纲:
Module 1-Building Blocks of Quantitative Finance
In module one,we will introduce you to the rules of applied Itôcalculus as a modeling framework.You will build tools using both stochastic calculus and martingale theory and learn how to use simple stochastic differential equations and their associated Fokker-Planck and Kolmogorov equations.
Module 2-Quantitative Risk&Return
In module two,you will learn about the classical portfolio theory of Markowitz,the capital asset pricing model and recent developments of these theories.We will investigate quantitative risk and return,looking at econometric models such as the ARCH framework and risk management metrics such as VaR and how they are used in the industry.
Module 3-Equities&Currencies
In module three,we will explore the importance of the Black-Scholes theory as a theoretical and practical pricing model which is built on the principles of delta hedging and no arbitrage.You will learn about the theory and results in the context of equities and currencies using different kinds of mathematics to make you familiar with techniques in current use.
Module 4-Data Science&Machine Learning l
In module four,you will be introduced to the latest data science and machine learning techniques used in finance.Starting with a comprehensive overview of the topic,you will learn essential mathematical tools followed by a deep dive into the topic of supervised learning,including regression methods,k-nearest neighbors,support vector machines,ensemble methods and many more.
Module 5-Data Science&Machine Learning ll
In module five,you will learn several more methods used for machine learning in finance.Starting with unsupervised learning,deep learning and neural networks,we will move into natural language processing and reinforcement learning.You will study the theoretical framework,but more importantly,analyze practical case studies exploring how these techniques are used within finance.
Module 6-Fixed Income&Credit
In the first part of module six,we will review the multitude of interest rate models used within the industry,focusing on the implementation and limitations of each model.In the second part,you will learn about credit and how credit risk models are used in quant finance,including structural,reduced form as well as copula models.
Advanced Electives
Your advanced electives are the final element in our core program.These give you the opportunity to explore an area that’s most relevant or interesting to you.Select two electives from the extensive choice below to complete the CQF qualification.You will also have access to every advanced elective as part of the Lifelong Learning Library.
CQF的另外一个特点是终身学习,而CQF的学员也可以终身看课。同时,CQF有很多选修的课程也蛮经典的,比如:量化的行为金融学,基于R语言的量化金融,高级投资组合管理,风险预算,Python应用,金融科技,基于Python的机器学习,C++,算法交易,高级风险管理,高级波动率模型,交易对手风险建模,复杂计算方法,基于Python的数据分析。

CQF和CFA、FRM区别?

很多考CQF的朋友都是有考CFA和FRM的经验,细看发现CQF和两者之前的区别还是非常大,首先,CFA和FRM是自主学习对应的书籍内容,然后通过参加考试来取得最后的证书,虽然CQF也是通过最后的考试,但是更加注重教学,虽然报名了后,官方会邮寄10几本书籍,但是最后的考试内容更多的和老师所讲的内容和课后的作业相关,因此在整个过程中,老师的PPT和课后的作业为主,教材为辅(供参考,具体个人结合自身学习习惯安排)。
其次,CQF考试的灵活度更高,没有标准答案;在考试CFA和FRM时,考试都有标准答案作为参考并且通过集中参加几个小时的考试来考核学生,但是CQF的考试更加的实用,考试的形式是做project,比如,自己做投资组合,收集数据利用机器学习的算法来预测市场等。最后,考试评定的方法不同;在考CFA和FRM时,可能根据全球考生成绩的百分比决定通过率,CQF是根据考试报告质量决定通过率。
写在最后,其实证书更多的就是加分项,你是新人,得找实习吧,这时候证书对你来说就很重要了,能加分不少;如果你是行业老人,更多的就要看你通过课程的学习,学到了什么,对你实际操作的过程有没有帮助等等。总之多学点东西总没错。
推荐大家去看一看CQF的证书说明会,认真了解一下这个证书。
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CQF

金融量化领域专业资格

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