Scholarship
How to Answer Question 1 of the CFA Access Scholarship Essay
The exact essay prompts that got me the CFA Access Scholarship twice for my Level and Level 2 exams
I recommend reading this post first to get a general understanding of the different sections and to learn a little bit about the scholarship
Read about the CFA Scholarship
Direct link to the CFA Access scholarship application page
Question 1: What prompted you to apply for this scholarship?
I ensured my answer to this question addressed 5 key points while maintaining the 250 words limit.
Point 1: Background
Supporting my parents with their businesses exposed me to the unfavourable Nigerian business environment, emphasizing the need for detailed financial and business planning to ensure profitability and competitiveness. Furthermore, within academia, I believe Africa is still greatly underrepresented in financial research. These experiences sparked my interest in finance.
OR
My passion for finance ignited through movies like Wall Street and Billions, as well as books such as The Intelligent Investor and Rich Dad Poor Dad. These sources taught me about the risks of unethical practices like insider trading and the importance of thorough research in investing. The Intelligent Investor broadened my understanding of various investor types, and Rich Dad Poor Dad highlighted the significance of investing for financial freedom.
Whatever sparked your interest in finance, discussed all that in this section.
Point 2: Long-term Goal
As such, becoming a subject matter expert and ethical professional in economic and investment analysis is where I see myself in the next couple of years.
Point 3: How you’ve nurtured your interest
Towards this, I obtained a Bachelor’s degree in economics from Obafemi Awolowo University, graduating with first-class honours in 2020. Concurrently, I actively participated in finance-related competitions, achieving a top 20 position among 570 global teams in the Charter Quest CFO Global Case Study Competition. Following my graduation, I assumed the role of an investment analysis intern at ABC Financial Services Limited. In this capacity, I contribute to capital-raising efforts by creating Information Memorandums and investment teasers.
If you are truly passionate about finance, you need proof of that interest; online courses, student clubs, professional exams like ACCA. So, ensure you emphasize all the relevant activities you’ve engaged in here.
Point 4: Why CFA?
While these experiences have contributed to my foundational industry and theoretical knowledge of finance, I recognize a significant theoretical gap in areas such as the ethics of financing and asset and portfolio management. Beyond the prestige and the enhancement of my professional portfolio that come with the CFA charter, I believe that the CFA program, will provide the best industry knowledge, and ethical guidance needed to achieve my long-term goal of becoming an ethical investment professional. Therefore, a major professional goal for me in 2024 is to sit for the CFA Level X exam.
Your reason for pursuing the CFA charter should align with the goals of the CFA program.
Point 5: How will the scholarship relieve you financially?
The CFA Access scholarship will provide financial relief and enhance my professional portfolio for global career opportunities.
Conclude the answer to first essay question by talking briefly about how the scholarship will help you?
Make it short and straight to the point. Remember, your annual income details is unnecessary in the essay because you would filled this somewhere while completing the application form.
Disclaimer: These are all my personal opinions from my personal experience. I do not work for the CFA institute and I do not have the CFA charter yet. So, do verify all information on the CFA institute website.
Need some help answering the second essay question? Then, checkout this post
Thank you for reading!
If you find this enlightening please leave million claps. No, a hundred claps is enough😊.
Got something to add? Drop a quick comment! 📚💡
I am on personal and career development journey on Medium and here are 4 ways you can support me:
- Drop me a follow → Rokeebat Hammed
- Purchase my SOP writing service
- Book a 1:1 Academic Clarity Session
- Follow me on LinkedIn
