Standard Sets A, C, and D under the Code of Professional Conduct for Authorized Financial Advisers (AFA). Macquarie University recognizes completion of CFA Level III as equivalent to a bachelor’s degree in a relevant discipline in the admissions process. Similarly, successful completion of CFA Level I or II, combined with a bachelor’s degree in a non-relevant discipline, will be treated as a bachelor’s degree in a relevant discipline in the admissions process. Students who have passed CFA Levels I, II, or III are eligible for course waivers. Griffith University recognizes students who have passed the CFA Level I exam are exempt from the GMAT/GRE/BAT score requirement, as well as the requirement of completing a specialized undergraduate degree in finance. Applicants who have passed the CFA Level 1 exam are eligible for 40 CP credit (four courses) in the foundation component of the Master of Finance program. Bahrain The Central Bank of Bahrain (CBB) recognizes CFA Charter-holders as meeting the requirements for the regulated functions of Head of Treasury, Financial Instruments Trader, and Investment Consultant. CFA Charter-holders automatically satisfy the requirements for the mandatory Financial Advice Program (AFP) level II. Brazil Comissão de Valores Mobiliários (CVM) recognizes successful CFA Level III candidates as satisfying the requirements of taking the global content exams of the National Certificate of Professional Investment (CNPI). CFA charter-holders are recognized by Brazilian main regulator of securities analysts, APIMEC, as the equivalent to their "global content" test, although the candidates must still pass a "local content" test to award their memberships. Canada The CFA Institute is a recognized Educational Institution by Revenu Quebec CFA Charter-holders are legally recognized by the Canadian Securities Administrators (CSA) as qualifying for the position of portfolio manager, investment counsel, adviser in derivatives & commodity futures, exchange contracts and for the position of securities adviser. Certain Finance programs are recognized by the CFA Institute as a part of their University Recognition Program. This status is granted to institutions whose degree programs incorporate at least 70 percent of the CFA Program Candidate Body of Knowledge (CBOK). Egypt The Egyptian Financial Supervisory Authority (EFSA) considers candidates which have passed CFA Level 1 to be exempt from exam requirements for relevant positions. Germany The Deutsche Börse AG considers the successful completion of the CFA Level III exam as satisfactory for the requirements necessary to be an exchange trader. The Frankfurt School of Finance and Management allows elective