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2017 U.S. Open (golf)
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2017 U.S. Open
Tournament information
Dates
June 15–18, 2017
Location
Erin, Wisconsin
Course(s)
Erin Hills
Organized by
USGA
Tour(s)
PGA Tour
European Tour
Japan Golf Tour
Statistics
Par
72
Length
7,741 yards (7,078 m)
Field
156 players, 68 after cut
Cut
145 (+1)
Prize fund
$12,000,000[1]
Winner's share
$2,160,000[1]
Champion
Brooks Koepka
272 (−16)
«2016
2018»
Erin Hills
Location in the United States
Erin Hills
Location in Wisconsin
The 2017 U.S. Open Championship was the 117th U.S. Open, held June 15–18, 2017 at Erin Hills in Erin, Wisconsin, northwest of Milwaukee. The event was won by Brooks Koepka, who claimed his first major after finishing with a final score of 16 under par. This score matched the lowest score ever attained at the tournament, a record set in 2011 by Rory McIlroy.[2]
This was the first U.S. Open in Wisconsin, but marked the fifth occasion in which the state hosted a major, following four earlier iterations of the PGA Championship. It was played in 1933 at Blue Mound in Wauwatosa, and at Whistling Straits near Kohler in 2004, 2010, and 2015.
The purse for the tournament totaled $12 million. Koepka won $2.16 million; this was the first major where the winner's share exceeded $2 million.[1]
Contents
[hide]
1 Venue
1.1 Course layout
2 Field
2.1 Past champions in the field
2.1.1 Made the cut
2.1.2 Missed the cut
2.2 Nationalities in the field
3 Round summaries
3.1 First round
3.2 Second round
3.3 Third round
3.3.1 Justin Thomas scorecard
3.4 Final round
3.4.1 Scorecard
4 References
5 External links
Venue[edit]
This was the first U.S. Open at Erin Hills, which opened in 2006 and hosted the U.S. Amateur in 2011. It was also the first U.S. Open since 1992 whose course played to a par of 72.[3]
It marked the first time in which the tournament was hosted in Wisconsin, and continued a long tradition of golf in the state, which hosted the U.S. Women's Open twice (in 1998, which was played at Blackwolf Run in Kohler, as well as in 2012). It was furthermore home to the U.S. Senior Open at Whistling Straits in 2007. The PGA Tour formerly stopped in the state regularly with the Greater Milwaukee Open (1968–2009), preceded by the Milwaukee Open Invitational (1955–1961).
Course layout[edit]
Hole
1
2
3
4
5
6
7
8
9
Out
10
11
12
13
14
15
16
17
18
In
Total
Yards 608 338 508 439 505 208 607 492 135 3,840 504 460 464 193 594 357 183 509 637 3,901 7,741
Par 5 4 4 4 4 3 5 4 3 36 4 4 4 3 5 4 3 4 5 36 72
2017 yardages by round
Round
Hole
1
2
3
4
5
6
7
8
9
Out
10
11
12
13
14
15
16
17
18
In
Total
Par 5 4 4 4 4 3 5 4 3 36 4 4 4 3 5 4 3 4 5 36 72
1 Yards 613 330 497 451 514 252 604 490 150 3,901 514 451 448 227 599 368 179 526 632 3,944 7,845
2 Yards 597 360 515 456 498 249 578 487 153 3,893 525 468 437 198 603 348 179 512 676 3,946 7,839
3 Yards 609 331 516 432 504 239 613 499 123 3,866 521 467 465 208 599 288 214 523 667 3,952 7,818
4 Yards 605 329 484 399 500 199 632 486 172 3,806 492 452 433 216 588 356 184 513 681 3,915 7,721
Scoring average: 73.204
by round: 73.385, 73.225, 72.016, 73.928
Most difficult holes in relation to par: 3, 4, 6, 17

Field[edit]
About half the field consisted of players who were exempt from qualifying for the U.S. Open. Each player is classified according to the first category in which he qualified, and other categories are shown in parentheses.
1. Winners of the U.S. Open Championship during the last ten years
Ángel Cabrera, Lucas Glover, Dustin Johnson (12,13,14,15), Martin Kaymer (14,15), Graeme McDowell, Rory McIlroy (6,7,13,14,15), Justin Rose (11,14,15), Webb Simpson, Jordan Spieth (5,13,14,15)
Tiger Woods did not play.
2. Winner and runner-up of the 2016 U.S. Amateur Championship
Brad Dalke (a)
Curtis Luck forfeited his exemption by turning professional in April 2017.
3. Winner of the 2016 Amateur Championship
Scott Gregory (a)
4. Winner of the 2016 Mark H. McCormack Medal (men's World Amateur Golf Ranking)
Maverick McNealy (a)
5. Winners of the Masters Tournament during the last five years
Sergio García (12,14,15), Adam Scott (13,14,15), Bubba Watson (13,14,15), Danny Willett (14,15)
6. Winners of The Open Championship during the last five years
Ernie Els, Zach Johnson (12), Henrik Stenson (14,15)
Phil Mickelson (13,14,15) withdrew to attend his daughter's high school graduation.[4][5]
7. Winners of the PGA Championship during the last five years
Jason Day (8,12,13,14,15), Jason Dufner (12,13,15), Jimmy Walker (13,14,15)
8. Winners of The Players Championship during the last three years
Rickie Fowler (14,15), Kim Si-woo (13,14,15)
9. Winner of the 2017 European Tour BMW PGA Championship
Alexander Norén (14,15)
10. Winner of the 2016 U.S. Senior Open Championship
Gene Sauers
11. Winner of the 2016 Olympic Golf Tournament
12. The 10 lowest scorers and anyone tying for 10th place at the 2016 U.S. Open Championship
Jim Furyk, Branden Grace (14,15), Shane Lowry, Kevin Na (13), Scott Piercy (14), Daniel Summerhays
13. Players who qualified for the season-ending 2016 Tour Championship
Daniel Berger (14,15), Paul Casey (14,15), Roberto Castro, Kevin Chappell (14,15), Emiliano Grillo (14,15), J. B. Holmes (14,15), Kevin Kisner (14,15), Russell Knox (14,15), Matt Kuchar (14,15), Hideki Matsuyama (14,15), William McGirt (14,15), Sean O'Hair, Patrick Reed (14,15), Charl Schwartzel (14,15), Brandt Snedeker (14,15), Justin Thomas (14,15), Jhonattan Vegas, Gary Woodland (14,15)
Ryan Moore (14,15) withdrew due to a shoulder injury.[6]
14. The top 60 point leaders and ties as of May 22, 2017 in the Official World Golf Ranking
An Byeong-hun (15), Wesley Bryan (15), Rafael Cabrera-Bello (15), Ross Fisher (15), Matthew Fitzpatrick (15), Tommy Fleetwood (15), Bill Haas (15), Adam Hadwin (15), Brian Harman (15), Tyrrell Hatton (15), Russell Henley (15), Charley Hoffman (15), Billy Horschel (15), Yuta Ikeda (15), Brooks Koepka (15), Marc Leishman (15), Francesco Molinari (15), Louis Oosthuizen (15), Pat Perez (15), Thomas Pieters (15), Jon Rahm (15), Brendan Steele (15), Hideto Tanihara (15), Wang Jeung-hun, Lee Westwood (15), Bernd Wiesberger (15)
15. The top 60 point leaders and ties as of June 12, 2017 in the Official World Golf Ranking
Chris Wood
16. Special exemptions given by the USGA
None
The remaining contestants earned their places through sectional qualifiers.
Japan: Shugo Imahira, Chan Kim, Satoshi Kodaira, Yūsaku Miyazato
Europe: Thomas Aiken, Oliver Bekker, George Coetzee, Bradley Dredge, Paul Dunne, Andrew Johnston, Alexander Lévy, Li Haotong, Wade Ormsby, Eddie Pepperell, Aaron Rai, Richie Ramsay, Joël Stalter, Brandon Stone, Matt Wallace
United States: Tyson Alexander, Mason Andersen (a), Derek Barron, Keegan Bradley, Ryan Brehm, Matt Campbell, Bud Cauley, Cameron Champ (a), Daniel Chopra, Stewart Cink, Corey Conners, Chris Crawford (a), Bryson DeChambeau, Kevin Dougherty, Harris English, Nick Flanagan, Brice Garnett, Talor Gooch, Max Greyserman, Stewart Hagestad (a), Scott Harvey (a), Stephan Jäger, Ben Kohles, Jason Kokrak, Martin Laird, Walker Lee (a), David Lingmerth, Jamie Lovemark, Jack Maguire, Troy Merritt, Daniel Miernicki, Trey Mullinax, Jordan Niebrugge, Joaquín Niemann (a), John Oda (a), Garrett Osborn, Pan Cheng-tsung, Andy Pope, J. T. Poston, Ted Potter, Jr., Jonathan Randolph, Chez Reavie, Roman Robledo, Andrés Romero, Sam Ryder, Xander Schauffele, Scottie Scheffler (a), Alex Smalley (a), Steve Stricker, Brian Stuard, Sahith Theegala (a), Kyle Thompson, Peter Uihlein
Alternates who gained entry:
Michael Putnam replaced Ryan Moore[6]
Grégory Bourdy (claimed spot held for category 15)
Kim Meen-whee (claimed spot held for category 15)
Tyler Light (claimed spot held for category 15)
Dru Love (claimed spot held for category 15)
Ryan Palmer (claimed spot held for category 15)
Roberto Díaz replaced Phil Mickelson[5]
(a) denotes amateur
Past champions in the field[edit]
Made the cut[edit]
Player
Country
Year(s) won
R1
R2
R3
R4
Total
To par
Finish
Jim Furyk United States 2003 70 74 69 72 285 −3 T23
Martin Kaymer Germany 2014 72 69 75 73 289 +1 T35
Webb Simpson United States 2012 74 71 71 73 289 +1 T35
Jordan Spieth United States 2015 73 71 76 69 289 +1 T35
Ernie Els South Africa 1994, 1997 70 72 79 74 295 +7 T55
Missed the cut[edit]
Player
Country
Year won
R1
R2
Total
To par
Lucas Glover United States 2009 74 72 146 +2
Justin Rose England 2013 72 74 146 +2
Dustin Johnson United States 2016 75 73 148 +4
Graeme McDowell Northern Ireland 2010 76 73 149 +5
Rory McIlroy Northern Ireland 2011 78 71 149 +5
Ángel Cabrera Argentina 2007 71 78 149 +5
Nationalities in the field[edit]
North America (89)
South America (5)
Europe (37)
Oceania (5)
Asia (12)
Africa (8)
Canada (2) Argentina (3) England (14) Australia (5) China (1) South Africa (8)
Mexico (1) Chile (1) Northern Ireland (2) Japan (6)
United States (86) Venezuela (1) Scotland (3) South Korea (4)
Wales (1) Taiwan (1)
Ireland (2)
Austria (1)
Belgium (1)
France (3)
Germany (2)
Italy (1)
Spain (3)
Sweden (4)
Round summaries[edit]
First round[edit]
Thursday, June 15, 2017
Rickie Fowler tied the U.S. Open record for lowest first round score in relation to par, shooting a bogey-free round of 65 (−7) for a one-shot lead over Paul Casey and Xander Schauffele.[7] The course played easily, yielding 44 under-par rounds. Despite this, many of the pre-tournament favorites faltered. Jordan Spieth played solidly, but stumbled late for an opening 73 (+1). World number one Dustin Johnson was derailed by a double bogey on the par-5 14th, shooting a 3-over 75. Jon Rahm, Rory McIlroy, and Jason Day were even worse, shooting 76 (+4), 78 (+6), and 79 (+7), respectively.[8] Meanwhile, Canadian Adam Hadwin tied a U.S. Open record with six straight birdies, en route to shooting four under par. This was the first major in which neither Phil Mickelson or Tiger Woods competed, in 23 years.[9] The scoring average was 73.385 (+1.385).
Place
Player
Country
Score
To par
1 Rickie Fowler United States 65 −7
T2 Paul Casey England 66 −6
Xander Schauffele United States
T4 Tommy Fleetwood England 67 −5
Brian Harman United States
Brooks Koepka United States
T7 Adam Hadwin Canada 68 −4
Marc Leishman Australia
Kevin Na United States
Patrick Reed United States
Second round[edit]
Friday, June 16, 2017
Four players finished atop the leadership after the second round for the first time since 1974. Paul Casey was four-over on his round before recording five straight birdies from holes 17-3 to shoot 71 (−1). Brooks Koepka made four birdies on his front-nine to get to nine-under but fell back with two bogeys on the back-nine. They were joined at the top of the leaderboard by Tommy Fleetwood and Brian Harman, who each shot 70 (−2). First round leader Rickie Fowler also got as low as nine-under before three straight bogeys saw him fall a shot behind the leaders.[10] Hideki Matsuyama and Chez Reavie had the low round of the day with a 65 (−7); combined with Fowler's opening round, it is the first time in U.S. Open history that three players shot a round of 65 in the same tournament. Forty-two players were under-par after 36 holes, a new tournament record.[11] The scoring average was 73.225 (+1.225).
For the first time since the introduction of the Official World Golf Ranking in 1986, the top three ranked players (Dustin Johnson, Rory McIlroy, and Jason Day) all missed the cut in a major championship.
Place
Player
Country
Score
To par
T1 Paul Casey England 66-71=137 −7
Tommy Fleetwood England 67-70=137
Brian Harman United States 67-70=137
Brooks Koepka United States 67-70=137
T5 Rickie Fowler United States 65-73=138 −6
J. B. Holmes United States 69-69=138
Jamie Lovemark United States 69-69=138
T8 Cameron Champ (a) United States 70-69=139 −5
Kim Si-woo South Korea 69-70=139
Hideki Matsuyama Japan 74-65=139
Xander Schauffele United States 66-73=139
Brandt Snedeker United States 70-69=139
Amateurs: Champ (−5), Scheffler (−1), Andersen (+2), McNealy (+3), Smalley (+3), Gregory (+4), Niemann (+5), Crawford (+6), Dalke (+6), Hagestad (+8), Theegala (+8), Harvey (+10), Oda (+10), Lee (+20)
Third round[edit]
Saturday, June 17, 2017
Overnight rains and calm conditions during the day led to numerous low scores. Brian Harman birdied three holes on the back-nine to post a score of 67 (−5) and take a one-shot lead over Tommy Fleetwood, Brooks Koepka, and Justin Thomas. Thomas began the round in a tie for 24th before a historic round put him into contention.[12] An eagle on the 18th gave Thomas a score of 63 (−9), tying the major championship record. At nine-under, he set the U.S. Open record for lowest score in relation to par, breaking the mark set by Johnny Miller in 1973. Fleetwood held possession of the lead before a bogey at the par-5 18th saw him finish a shot behind Harman, while Koepka birdied the last to also get to within a stroke. Rickie Fowler recovered from a bogey at the 13th with three straight birdies on holes 14-16 and was two back. Paul Casey began the round tied for the lead but shot a three-over 75 and dropped to 17th.[13]
Five golfers were at 10-under-par or better entering the final round. Before this year, only six golfers had ever reached double digits under par at any point in a U.S. Open.[14] The scoring average was 72.036 (+0.036).
Place
Player
Country
Score
To par
1 Brian Harman United States 67-70-67=204 −12
T2 Tommy Fleetwood England 67-70-68=205 −11
Brooks Koepka United States 67-70-68=205
Justin Thomas United States 73-69-63=205
5 Rickie Fowler United States 65-73-68=206 −10
6 Kim Si-woo South Korea 69-70-68=207 −9
T7 Russell Henley United States 71-70-67=208 −8
Charley Hoffman United States 70-70-68=208
Patrick Reed United States 68-75-65=208
T10 Bill Haas United States 72-68-69=209 −7
Xander Schauffele United States 66-73-70=209
Brandt Snedeker United States 70-69-70=209
Brendan Steele United States 71-69-69=209
Amateurs: Champ (−4), Scheffler (−2)
Justin Thomas scorecard[edit]
Hole
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
Par 5 4 4 4 4 3 5 4 3 4 4 4 3 5 4 3 4 5
Thomas −1 −2 −2 −1 −2 −2 −3 −4 −5 −4 −4 −5 −5 −5 −6 −6 −7 −9
Eagle Birdie Bogey
Final round[edit]
Sunday, June 18, 2017
Brooks Koepka tied the U.S. Open scoring record and won his first career major championship by four strokes over Brian Harman and Hideki Matsuyama. Beginning the round a shot out of the lead, Koepka quickly erased the deficit with birdies on his first two holes. After saving par with an eight-foot putt on the 13th, he then recorded three straight birdies on his way to a round of 67 (−5). His total of 16-under par tied the tournament scoring record set by Rory McIlroy in 2011.[15] Harman entered the round with the lead but fell into a tie for second with three bogeys on the back-nine. Matsuyama shot the low round of the day with 66 (−6) and jumped into a tie with Harman. After establishing a new tournament scoring record in the third round, Justin Thomas bogeyed three of his first five holes and finished three-over on the round to drop to a tie for ninth.[16] Tommy Fleetwood also began the round a shot behind but three bogeys on the front-nine dropped him from contention. Thirty-one players finished the tournament under par, breaking the U.S. Open record set in 1990.[17]
Place
Player
Country
Score
To par
Money ($)
1 Brooks Koepka United States 67-70-68-67=272 −16 2,160,000
T2 Brian Harman United States 67-70-67-72=276 −12 1,052,012
Hideki Matsuyama Japan 74-65-71-66=276
4 Tommy Fleetwood England 67-70-68-72=277 −11 563,642
T5 Rickie Fowler United States 65-73-68-72=278 −10 420,334
Bill Haas United States 72-68-69-69=278
Xander Schauffele United States 66-73-70-69=278
8 Charley Hoffman United States 70-70-68-71=279 −9 336,106
T9 Trey Mullinax United States 71-72-69-68=280 −8 279,524
Brandt Snedeker United States 70-69-70-71=280
Justin Thomas United States 73-69-63-75=280
Amateurs: Scheffler (−1), Champ (E)
Scorecard[edit]
Birdie Bogey
Final round
Hole
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
Par 5 4 4 4 4 3 5 4 3 4 4 4 3 5 4 3 4 5
Koepka −12 −13 −13 −13 −13 −13 −13 −14 −14 −13 −13 −13 −13 −14 −15 −16 −16 −16
Harman −12 −12 −13 −13 −13 −13 −13 −13 −13 −13 −13 −12 −11 −12 −12 −13 −13 −12
Matsuyama −7 −7 −7 −8 −9 −8 −8 −8 −8 −8 −9 −10 −10 −11 −10 −11 −11 −12
Fleetwood −11 −12 −11 −11 −11 −10 −10 −9 −10 −10 −10 −10 −10 −11 −11 −11 −11 −11
Fowler −11 −11 −11 −11 −10 −10 −11 −11 −11 −11 −11 −10 −10 −10 −9 −9 −9 −10
Schauffele −7 −8 −8 −7 −8 −8 −8 −8 −8 −8 −7 −7 −7 −8 −9 −9 −9 −10
Haas −7 −8 −7 −7 −7 −7 −7 −7 −7 −7 −8 −8 −8 −8 −8 −9 −9 −10
Thomas −11 −10 −10 −9 −8 −8 −8 −8 −8 −9 −9 −9 −8 −8 −8 −8 −8 −8
References[edit]
^ Jump up to: a b c "U.S. Open increases purse to golf-high $12 million". ESPN. Associated Press. February 8, 2017.
Jump up ^ "US Open 2017: Brooks Koepka wins at Erin Hills to claim first major". BBC Sport. June 19, 2017.
Jump up ^ Harig, Bob (May 25, 2017). "Quick 9: With new putter, Spieth hopes to rebound at Colonial". ESPN. Retrieved May 25, 2017.
Jump up ^ Harig, Bob (June 3, 2017). "Phil Mickelson plans to miss U.S. Open to attend daughter's high school graduation". ESPN.
^ Jump up to: a b "With weather clear, Phil Mickelson drops out of U.S. Open". ESPN. June 15, 2017.
^ Jump up to: a b "Puyallup's Ryan Moore withdraws from U.S. Open, replaced by University Place’s Michael Putnam". Seattle Times. Associated Press. June 7, 2017.
Jump up ^ Powers, Christopher (June 15, 2017). "Rickie Fowler matches U.S. Open first round scoring record, leads by one at Erin Hills". Golf Digest.
Jump up ^ Bysouth, Alex; Reddy, Luke (June 15, 2017). "US Open: Fowler leads from Casey as McIlroy falters". BBC Sport. Retrieved June 16, 2017.
Jump up ^ Murray, Scott; Bakowski, Gregg; Veigh, Niall (June 15, 2017). "US Open 2017: First round, as it happened". The Guardian. Retrieved June 16, 2017.
Jump up ^ Murray, Scott (June 19, 2017). "US Open 2017: second round – as it happened". The Guardian. Retrieved June 19, 2017.
Jump up ^ Powers, Christopher (June 16, 2017). "Four tied for second-round lead at the U.S. Open". Golf Digest.
Jump up ^ Murray, Scott; Bleaney, Rob (June 19, 2017). "US Open 2017: third round – as it happened". The Guardian. Retrieved June 19, 2017.
Jump up ^ Harig, Bob (June 17, 2017). "Justin Thomas shoots lowest round to par at U.S. Open with 9-under 63, trails leader Brian Harman by 1 shot". ESPN.
Jump up ^ Harig, Bob (June 17, 2017). "Pressure? Opportunity? Weirdness? All will be part of U.S. Open Sunday". ESPN. Retrieved June 18, 2017.
Jump up ^ Murray, Ewan (June 19, 2017). "Brooks Koepka holds his nerve in major style to land the US Open title". The Guardian. Retrieved June 19, 2017.
Jump up ^ Murray, Scott (June 19, 2017). "US Open 2017: final round – as it happened". The Guardian. Retrieved June 19, 2017.
Jump up ^ "Brooks Koepka wins U.S. Open, ties Rory McIlroy's scoring mark". ESPN. Associated Press. June 18, 2017.
External links[edit]
Official website
United States Golf Association
Coverage on the PGA Tour's official site
Coverage on the European Tour's official site
Coverage on the PGA of America's official site
Preceded by
2017 Masters Major Championships Succeeded by
2017 Open Championship
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Coordinates: 43°14′42″N 88°23′42″W / 43.245°N 88.395°W / 43.245; -88.395
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List of military engagements of World War I
From Wikipedia, the free encyclopedia
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List of military engagements of World War I encompasses land, naval, and air engagements as well as campaigns, operations, defensive lines and sieges. Campaigns generally refer to broader strategic operations conducted over a large bit of territory and over a long period of time. Battles generally refer to short periods of intense combat localised to a specific area and over a specific period of time. However, use of the terms in naming such events is not consistent. For example, the First Battle of the Atlantic was more or less an entire theatre of war, and the so-called battle lasted for the duration of the entire war.[1]
Contents
[hide]
1 Western Front
1.1 Battle of the Frontiers
2 Italian Campaign
3 Eastern Front
4 Romanian Campaign
5 Caucasus Campaign
6 Serbian Campaign
7 Gallipoli Campaign
8 Macedonian Front
9 Sinai and Palestine Campaign
10 Mesopotamian Campaign
11 African Campaign
12 Naval engagements
12.1 Atlantic Theatre
12.2 Mediterranean
12.3 Asia-Pacific Theatre
13 Air engagements
14 Contemporary wars
14.1 Pre-World War I
14.2 During World War I
14.3 Post-World War I
15 References
16 Sources
Western Front[edit]
List of Canadian battles during the First World War on the Western Front plaque in Currie Hall, Royal Military College of Canada
The Western Front comprised the frictinous borders between France, Germany, and the neighboring countries. It was infamous for the nature of the fight that developed there; after almost a full year of inconclusive fighting, the front had become a giant trench line stretching from one end of Europe to the other.[1]
1914
Battle of Liège
A diagram of the fortifications surrounding the city
The Battle of Liège was the first battle of the war, and could be considered a moral victory for the allies, as the heavily outnumbered Belgians held out against the German Army for 12 days. From 5–16 August 1914, the Belgians successfully resisted the numerically superior Germans, and inflicted surprisingly heavy losses on their aggressors. The German Second Army, comprising 320,000 men, crossed into neutral Belgium in keeping to the Schlieffen Plan, with the ultimate goal of attacking France from the north. Liège was key strategically as it held a position at the head of a pass through the Ardennes, which made it the best possible route into the heart of Belgium itself.[2]
The city was surrounded by a ring of 12 heavily armed forts, garrisoned by 70,000 men under the command of Gérard Leman. A night attack on 5 August was repulsed with heavy losses to the Germans, to the extreme surprise of the supremely confident German army.[citation needed] The next day, rather than confront the forts in battle, the German commander Erich Ludendorff attacked the city through the back, through a break in the line of fortresses that the Belgians had intended to fortify, but never did so. Although they succeeded in capturing the city, the Germans knew that they could not continue advancing troops into Belgium without first breaking down the forts. Aided by 17-inch Howitzers, the Germans finally succeeded in bringing down the forts on 16 August.[2]
The unprecedented Belgian resistance seriously prolonged the opening German assault at the outbreak of World War I, allowing France and Britain time to organize themselves and a defense of Paris. In addition, it was an important moral victory for the Allies.
Battle of the Frontiers[edit]
The early French initiative, to recapture territory lost to the Germans in the 1870–1871 Franco-Prussian War, was played out in a series of frontier battles between the Germans and the French, known collectively as the Battle of the Frontiers. The battles at Mulhouse, Lorraine, the Ardennes, Charleroi, and Mons were launched more or less simultaneously, and marked the collision of the German and French war plans, the Schlieffen Plan and Plan XVII, respectively.[1][3]
Battle of Mulhouse
The Battle of Mulhouse was the opening attack by the French against the Germans. The battle was part of a French attempt to recover the province of Alsace, which had been lost as a consequence of having lost the Franco-Prussian War of 1870–1871. A French force under General Louis Bonneau detached from the French First Corps and invaded the frontier on August 8, 1914. Opposing them was the German 7th Division. The recapture of the area, preordained by the French Plan XVII, was to boost national pride—and to provide a guard force for the flank of subsequent invasions.[4]
The French quickly recaptured the border town of Altkirch with a bayonet charge. Bonneau, suspicious of the little German resistance, was wary of a carefully planned German trap. However, under orders the next day he advanced to Mulhouse, capturing it with little effort, for the Germans had already abandoned it.[4]
In France, the retaking of Mulhouse, without a fight, was celebrated greatly. However, with the arrival of German reserves from Strasbourg, the tides were turned, and the Germans mounted a counter-attack on nearby Cernay. Unable to mount an all-encompassing defense, and unable to call on reserves of his own, Bonneau began a slow withdrawal from the region. Support troops hastily sent by the French commander-in-chief Joseph Joffre arrived too late to prevent Bonneau from retiring. Joffre was immensely angry with Bonneau, charging him with a "lack of aggression" and immediately relieving him of command. Realizing the psychological magnitude of the loss, he assembled a force, led by Paul Pau, which tried unsuccessfully to recapture the province.[4]
Battle of Lorraine
French heavy cavalry on the way to battle, Paris, August 1914.
The invasion and recapture of Lorraine formed one of the major parts of the French pre-war strategy, Plan XVII. The loss of Lorraine (and Alsace; see above) to the Prussians in the 1870-1871 Franco-Prussian War was seen as a national humiliation by the public and military alike, and was at the forefront of their minds for the next war against the Germans.[5]
The battle was initiated by the French First and Second armies. The First, led by General Auguste Dubail, intended to take Sarrebourg, whilst the Second, led by General Noel de Castelnau, intended to take Morhange. Both towns were well fortified, and the task of defending them fell to Crown Prince Rupprecht, who had overall control of the German Sixth and Seventh armies.[5]
Rupprecht adopted a strategy in which he would fall back under the French attacks, then counter-attack once he lured the French all the way to his fortifications. As the French army advanced, it met stern resistance in the form of German artillery and machine-gun fire. Army Chief of Staff Helmuth von Moltke authorized a more aggressive tactic soon after, and on August 20, the German army started to roll back the French. Caught by surprise and without the assistance of entrenched positions, the Second Army was pushed back quickly, eventually into France itself. A gap was exposed between the forces in Mulhouse and those in Lorraine; the forces in Mulhouse were withdrawn to keep the gap from being taken advantage of by the Germans.[5]
Diverging from the Schlieffen Plan, Rupprecht received reinforcements and attacked the French line near the Trouée de Charmes; however, through the use of reconnaissance aircraft, the French spotted the German buildup, and were able to build an adequate defence. Thus the German gains were minimized, and were eradicated by a following French counter-assault on the 25th. Fighting continued there until the end of August, and quickly ground into a stalemate and trench warfare.[5]
Battle of the Ardennes
The Battle of Ardennes, fought between 21 and 23 August 1914, was another of the early frontier battles, conducted during the first month of the war. The battle was sparked by the mutual collision of French and German invasion forces in the lower Ardennes Forest.[6]
The pre-war French strategy expected German forces in the area to be light, and the French light, rapid firing artillery was expected to convey an advantage in forested terrain over the bigger German guns. Instead, it became increasingly apparent to all of the commanders in the region that a significant enemy presence was gathering, for the Germans had planned an offensive through the area.[6]
The sets of armies joined battle on both sides. General Pierre Ruffey's Third Army to the south and Fernand de Langle de Cary's Fourth Army to the north, fighting Germany's Fourth, led by Duke Albrecht, and Fifth army, led by Crown Prince Wilhelm.[6]
The German troops started moving through the forest on 19 August. Conditions worsened, and by the time the two armies met, the forest was covered in a deep fog, resulting in the two forces stumbling into one another. At first, the French took the Germans as a light screening force; however, in reality the French were heavily outnumbered. The first day of the battle consisted of light skirmishes; the main battle did not begin until 21 August.[6]
According to the pre-war French strategy document, Plan XVII, German forces in the area were only expected to be light, with French light, rapid-firing artillery proving advantageous in a wooded terrain such as that found in the Ardennes. However, what emerged was totally opposite; the French eagerly charged at German positions in the woods, and were mowed down by machine-gun fire. The French armies retreated hurriedly in the face of superior German tactical positioning, and the Germans chased them all the way back into the French border. In addition to losing a key strategic position, the French forfeited iron resources in the region as well.[6]
Battle of Charleroi
The Battle of Charleroi, another of the frontier battles, was an action taking place 12–23 August 1914. The battle was joined by the French Fifth Army, advancing north towards the River Sambre, and the German Second and Third armies, moving southwest through Belgium. The Fifth army was meant to join the Third and Fourth armies in their attack through the Ardennes. However, this plan was put into effect assuming the Germans were not considering an assault further north, through Belgium—which was the German plan all along. Charles Lanrezac, commander of the Fifth Army, was strongly against the idea, fearing an attack from the north. However Joseph Joffre, chief-of-staff, rejected any such idea; after much persuassion, Lanrezac finally convinced him to move the Fifth Army northwards.
However, by the time the Fifth Army arrived, units of the German Second Army were already in the area. Joffre authorized an attack across the Sambre, predicting that the German force had 18 divisions, comparable to Lanrezac's 15, plus another 3 British reinforcements (the British Expeditionary Force). However, Lanrezac predicted much higher numbers, closer to the actual number—32 German divisions. He preferred to wait for reinforcements, however that same day the Germans attacked across the river and established two beachheads, neither of which fell despite several French counterattacks.
The next day, the main attack began; the fighting carried on through the day, and into the next. The French centre suffered severe losses and retreated; but the west and east flanks both held their ground. However, the retreat of cavalry divisions to the far west exposed the French west flank. With news of his situation, and the fact that his flanks could give and be completely enwrapped, Lanrezac ordered a general retreat into northern France.
Siege of Maubeuge
The French town of Maubeuge was a major fort on the French side of the border. With a junction of no fewer than five major railway lines, it was recognized as a key strategic position by both sides; hence the construction of 15 forts and gun batteries ringing it, a total of 435 guns, and a permanent garrison of 35,000 troops. These were further bolstered by the choosing of the town as the advance base of the British Expeditionary Force. However, when these and the French Fifth Army retreated following the events at Charleroi, the town was cut off from allied support, and subsequently besieged on August 25. The German heavy artillery succeeded in demolishing the key forts around the city, and General Joseph Anthelme Fournier, in command of the garrison in the city, surrendered to the Germans some 13 days later.[7]
1914
Battle of Le Cateau
Battle of St. Quentin, also called the Battle of Guise
First Battle of the Marne
First Battle of the Aisne
Siege of Antwerp
First Battle of Albert
First Battle of Arras
Battle of the Yser
First Battle of Ypres
First Battle of Champagne
1915
Battle of Neuve Chapelle
Second Battle of Ypres
Second Battle of Artois
Battle of Loos
Second Battle of Champagne
1916
Battle of Verdun
Battle of Hulluch
Battle of the Somme
Battle of Fromelles
Battle of Pozières
Battle of Ginchy
1917
Nivelle Offensive
Battle of Arras (1917)
Battle of Vimy Ridge
Second Battle of the Aisne, also called the Third Battle of Champagne
Battle of Messines
Third Battle of Ypres, also called the Battle of Passchendaele
Battle of Cambrai (1917)
1918
German Spring Offensive
First Battle of the Somme (1918), also known as the Battle of St. Quentin or the Second Battle of the Somme (to distinguish it from the 1916 battle)
Battle of the Lys, also known as the Fourth Battle of Ypres and the Battle of Estaires
Third Battle of the Aisne
Battle of Cantigny
Battle of Belleau Wood
Second Battle of the Marne
Battle of Soissons (1918)
Battle of Château-Thierry (1918)
Hundred Days Offensive
Battle of Amiens
Second Battle of the Somme (1918), also known as the Third Battle of the Somme
Battle of Saint-Mihiel
Battle of Epéhy
Battle of the Hindenburg Line
Meuse-Argonne Offensive, also called the Battle of the Argonne Forest
Battle of Cambrai (1918)
Battle of the Sambre (1918), also known as the Second Battle of the Sambre
Italian Campaign[edit]
First Battle of the Isonzo
Second Battle of the Isonzo
Third Battle of the Isonzo
Fourth Battle of the Isonzo
Fifth Battle of the Isonzo
Trentino Offensive or the "Battle of Asiago"
Sixth Battle of the Isonzo or the "Battle of Gorizia"
Seventh Battle of the Isonzo
Eighth Battle of the Isonzo
Ninth Battle of the Isonzo
Tenth Battle of the Isonzo
Eleventh Battle of the Isonzo
Twelfth Battle of the Isonzo or the "Battle of Caporetto"
Battle of the Piave River
Battle of Vittorio Veneto
Eastern Front[edit]
1914
Battle of Stalluponen
Battle of Gumbinnen
Battle of Tannenberg
Battle of Galicia
First Battle of the Masurian Lakes
Battle of the Vistula River
Battle of Łódź (1914)
Battle of Limanowa
1915
Siege of Przemysl
Battle of Bolimov
Second Battle of the Masurian Lakes
Great Retreat (Russian)
Sventiany Offensive
1916
Lake Naroch Offensive
Brusilov Offensive
1917
Kerensky Offensive
Russian Revolution
1918
Operation Faustschlag
Romanian Campaign[edit]
1916
Battle of Transylvania (Central Powers Victory)
Battle of Turtucaia (Central Powers Victory)
Battle of Dobrich (Bulgarian Victory)
First Battle of Cobadin (Romanian-Russian Victory)
Battle of Sibiu (1916) (ro) (Central Powers Victory)
Battle of Olt Valley (ro) (Romanian Victory)
Battle of Turnu Roșu Pass (Romanian victory)
Flămânda Offensive (Central Powers Victory)
Battle of Brașov (1916) (ro) (Central Powers Victory)
Battle of Bran-Câmpulung Area (ro) (Romanian Victory)
Battle of Prahova Valley (ro) (Romanian Victory)
First Battle of Oituz Pass (ro) (Romanian Victory)
Second Battle of Cobadin (Central Powers Victory)
First Battle of the Jiu Valley (ro) (Romanian Victory)
Second Battle of the Jiu Valley (ro) (Central Powers Victory)
Battle of Vulcan Pass (Central Powers Victory)
Second Battle of Oituz Pass (ro) (Romanian Victory)
Battle of Târgu Jiu (ro) (Central Powers Victory)
Battle of Robănești (German Victory)
Battle of Bucharest (Central Powers Victory)
Prunaru Charge (Central Powers Victory)
Battle of the Argeș (Central Powers Victory)
Battle of Râmnicu Sărat (Central Powers Victory)
1917
Battle of Tulcea (Romanian Victory)
Battle of Mărăști (Romanian-Russian Victory)
Battle of Mărășești (Romanian-Russian Victory)
Battle of Oituz (1917) (Romanian-Russian Victory)
Caucasus Campaign[edit]
Battle of Sarikamish
Battle of Manzikert (1915)
Battle of Kara Killisse
Battle of Koprukoy
Battle of Erzurum
Battle of Erzincan
Battle of Baku
Serbian Campaign[edit]
Battle of Cer
Battle of Drina
Battle of Kolubara
Battle of Morava
Battle of Kosovo (1915)
Battle of Ovche Pole
Gallipoli Campaign[edit]
W Beach, Helles, on January 7, 1916, just prior to the final evacuation of British forces during the Gallipoli Campaign.
The Gallipoli Campaign (also called the "Dardanelles Campaign"), was a number of battles fought between 1915 and 1916.
Battle of the Nek
Battle of Chunuk Bair
Battle of Gully Ravine
Battle of Hill 60 (Gallipoli)
Battle of Krithia Vineyard
Battle of Lone Pine
Battle of Sari Bair
Battle of Scimitar Hill
Landing at Anzac Cove
Landing at Cape Helles
First Battle of Krithia
Second Battle of Krithia
Third Battle of Krithia
Naval operations in the Dardanelles Campaign
Macedonian Front[edit]
Battle of Krivolak
1st Battle of Doiran
Battle of Florina
Battle of Struma
Monastir Offensive
Battle of Malka Nidzhe
Battle of Kajmakchalan
1st Battle of Cerna Bend
2nd Battle of Doiran
2nd Battle of Cerna Bend
Battle of Skra-di-Legen
Vardar Offensive
Battle of Dobro Pole
3rd Battle of Doiran
Sinai and Palestine Campaign[edit]
First Suez Offensive
Battle of Romani or "The Second Suez Offensive"
Battle of Magdhaba
Battle of Rafa
Battle of Mughar Ridge
Battle of Jerusalem
Fall of Damascus
First Battle of Gaza
Second Battle of Gaza
Third Battle of Gaza or the "Battle of Beersheba"
Battle of Beersheba
Battle of Megiddo
Mesopotamian Campaign[edit]
Fao Landing
Fall of Basra
Battle of Qurna
Capture of Amara
Battle of Nasiriyeh
Battle of Es Sinn
Battle of Ctesiphon
Siege of Kut
Battle of Sheikh Sa'ad
Battle of the Wadi
Battle of Hanna
Battle of Dujaila Redoubt
First Battle of Kut
Battle of Khanaqin
Second Battle of Kut
Fall of Baghdad
Samarrah Offensive
Battle of Jebel Hamlin
Battle of Istabulat
Battle of Ramadi
Capture of Tikrit
Battle of Sharqat
African Campaign[edit]
Fall of Cameroon
Fall of German South-West Africa (Namibia)
Fall of Togo
Fall of German East Africa
Battle of Tanga or Battle of the Bees
Battle of Rufiji Delta
Battle of Kilimanjaro
Battle of Sandfontein
Naval engagements[edit]
See also: Naval warfare of World War I
Atlantic Theatre[edit]
First Battle of Heligoland Bight (1914)
Battle of the Falkland Islands (1914)
Raid on Scarborough, Hartlepool and Whitby (1914)
Battle of Dogger Bank (1915)
Otranto Barrage (1915–1918)
Battle of Jutland (1916)
Battle of Dover Strait (1917)
Second Battle of Heligoland Bight (1917)
Zeebrugge Raid (1918)
Mediterranean[edit]
Pursuit of Goeben and Breslau (1914)
Naval operations in the Dardanelles Campaign (1915–1916)
Battle of the Otranto Straits (1917)
Asia-Pacific Theatre[edit]
Battle of Rabaul
Battle of Tsingtao (1914)
Battle of Penang (1914)
Battle of Coronel (1914)
Battle of Cocos (1914)
Air engagements[edit]
World War I was the first war to see major use of planes for offensive, defensive and reconnaissance operations, and both the Entente Powers and the Central Powers used planes extensively. Almost as soon as they were invented, planes were drafted for military service.
See also the following articles:
Aviation in World War I
Aviation history (1914-1918)
Flying aces
List of World War I flying aces
Strategic bombing during World War I
Zeppelins in World War I
Contemporary wars[edit]
Some historians consider some of these wars as being part of World War I, as they are considered to have a direct connection to the start of the war, or having been caused by the aftermath.
Pre-World War I[edit]
Mexican Revolution (1910–1920)
Italo-Turkish War (1911-1912)
First Balkan War (1912–13)
Second Balkan War (1913)
Zaian War (1914-21)
During World War I[edit]
Maritz Rebellion (1914–15)
Easter Rising (1916)
Senussi Campaign (1915–17)
Russian Revolution (1917)
Finnish Civil War (1918)
Russian Civil War (1918–22)
North Russia Campaign (1918–19)
Russian westward offensive (1918–19)
Post-World War I[edit]
Greater Poland Uprising (1918–19)
Hungarian-Romanian War (1918–19)
Polish-Soviet War (1919–21)
Irish War of Independence (1919–21)
Turkish War of Independence (1919–23)
Greco-Turkish War (1919–22)
Vlora War (1920)
Irish Civil War (1922–23)
References[edit]
^ Jump up to: a b c Cowley and Parker, pp. 521–526 Cite error: Invalid <ref> tag; name "milhistcomp-1996" defined multiple times with different content (see the help page).
^ Jump up to: a b Duffy, Michael (2000–2009). "Battles - The Battle of Liege, 1914". Retrieved 2009-11-10.
Jump up ^ Duffy, Michael (2000–2009). "Battles - The Battle of the Frontiers, 1914". Retrieved 2009-11-10.
^ Jump up to: a b c Duffy, Michael (2000–2009). "Battles - The Battle of Mulhouse, 1914". Retrieved 2009-11-10.
^ Jump up to: a b c d Duffy, Michael (2000–2009). "Battles - The Battle of Loraine, 1914". Retrieved 2009-11-10. [dead link]
^ Jump up to: a b c d e Duffy, Michael (2000–2009). "Battles - The Battle of the Ardennes, 1914". Retrieved 2009-11-10.
Jump up ^ Duffy, Michael (2000–2009). "Battles - The Battle of the Maubeuge, 1914". Retrieved 2009-11-10.
Sources[edit]
James M. McPherson; Stephen B. Oates; Celab Carr; Geoffrey Ward; Richard M. Ketchum; et al. (2001). Robert Cowley; Geoffrey Parker, eds. A Reader's Campanion to Military History (Paperback ed.). Houghton Mifflin Company. ISBN 0-618-12742-9.
World War I portal
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1915
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1916
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first day
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1917
Capture of Baghdad
First Battle of Gaza
Zimmermann Telegram
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Kerensky Offensive
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Battle of Mărășești
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Southern Palestine Offensive
Battle of Cambrai
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1918
Operation Faustschlag
Treaty of Brest-Litovsk
Spring Offensive
Battle of Goychay
Battle of Aghsu
Battle of Kyurdamir
Second Battle of the Marne
Battle of Baku
Hundred Days Offensive
Vardar Offensive
Battle of Megiddo
Third Transjordan attack
Meuse-Argonne Offensive
Battle of Vittorio Veneto
Battle of Aleppo
Armistice of Salonica
Armistice of Mudros
Armistice of Villa Giusti
Armistice with Germany
Other conflicts
Mexican Revolution (1910–20)
Somaliland Campaign (1910–20)
Libyan resistance movement (1911–43)
Maritz Rebellion (1914–15)
Zaian War (1914–21)
Indo-German Conspiracy (1914–19)
Senussi Campaign (1915–16)
Volta-Bani War (1915–17)
Easter Rising (1916)
Anglo-Egyptian Darfur Expedition (1916)
Kaocen Revolt (1916–17)
Central Asian Revolt (1916-17)
Russian Revolution (1917)
Finnish Civil War (1918)
Post-War conflicts
Russian Civil War (1917–21)
Ukrainian–Soviet War (1917–21)
Armenian–Azerbaijani War (1918–20)
Georgian–Armenian War (1918)
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Chartered Financial Analyst
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The Chartered Financial Analyst (CFA) Program is a professional credential offered internationally by the American-based CFA Institute (formerly the Association for Investment Management and Research, or AIMR) to investment and financial professionals. The program covers a broad range of topics relating to investment management, financial analysis, stocks, bonds and derivatives, and provides a generalist knowledge of other areas of finance.
A candidate who successfully completes the program and meets other professional requirements is awarded the "CFA charter" and becomes a "CFA charterholder". As of October 2018, there are approximately 150,000 charterholders around the world in more than 165 countries.[1][2] Successful candidates take an average of four years to earn their CFA charter.[3][4] According to the CFA Institute, fewer than 20% of candidates who begin the program receive the CFA Charter.[5]
The top employers of CFA Charterholders globally are JP Morgan, UBS, RBC, Bank of America, and Wells Fargo.[6]
Functions of CFA Charterholders:[7]
22% Portfolio Manager
16% Research Analyst
7% Chief Executive
6% Consultant
5.1% Corporate Financial Analyst
5% Financial Advisor
5% Relationship Managers, Sales, & Marketing
5% Risk Manager
4% Investment Banking Analyst
3% Manager of Managers
3% Accountant/Auditor
3% Strategist
3% Trader
1% Broker
1% Performance Measurement Specialist
1% Private Banker
10% Other
Contents
1 History
2 Requirements
3 Process
4 Curriculum
4.1 Ethics
4.2 Quantitative methods
4.3 Economics
4.4 Corporate finance
4.5 Financial reporting and analysis
4.6 Security analysis
4.7 Portfolio management
5 Legal and other recognition
6 Trademark disputes
6.1 India
6.2 United Kingdom—Trade Marks Registry vs CFAI
7 List of CFA charterholders
8 See also
9 References
10 External links
History[edit]
The predecessor of CFA Institute, the Financial Analysts Federation (FAF), was established in 1947 as a service organization for investment professionals. The earliest CFA charterholders were "grandfathered" in through work experience only. Then, the series of three exams was established along with requirements to being a practitioner for several years to qualify to take the exams. In 1990, in the hopes of boosting the credential's public profile, the CFA Institute (formerly the Association for Investment Management and Research) merged with the FAF and the Institute of Chartered Financial Analysts (ICFA).
The CFA program began in the United States but has become increasingly international with many people becoming charterholders across Europe, Asia and Australia. By 2003 fewer than half the candidates in the CFA program were based in the United States and Canada, with most of the other candidates based in Asia or Europe. The number of charterholders in India and China had increased by 25% and 53%, respectively, from 2005-06.[citation needed]
Requirements[edit]
To become a charterholder, candidates must satisfy the following requirements:[8]
Have four years (48 months) of qualified work experience (or a combination of education and work experience acceptable by the CFA Institute). However, individual level exams may be taken prior to satisfying this requirement;
Complete the CFA Program (mastery of the current CFA curriculum and passing three six-hour examinations);
Become a member of the CFA Institute
Adhere to the CFA Institute Code of Ethics and Standards of Professional Conduct.
Independent of any other requirements for becoming a charterholder, the CFA Program takes an average of four years for candidates to complete.[citation needed]
Process[edit]
Year[9]
Level 1
Level 2
Level 3
2018 Pass % 43%/x 45% 56%
2017 Pass % 43%/43% 47% 54%
2016 Pass % 43%/43% 46% 54%
2015 Pass % 42%/43% 46% 53%
2014 Pass % 42%/44% 46% 54%
2013 Pass % 38%/43% 43% 49%
2012 Pass % 38%/37% 42% 52%
2011 Pass % 39%/38% 43% 51%
2010 Pass % 42%/36% 39% 46%
2009 Pass % 46%/34% 41% 49%
2008 Pass % 35%/35% 46% 53%
2007 Pass % 40%/39% 40% 50%
2006 Pass % 40%/39% 48% 76%
2005 Pass % 36%/34% 56% 55%
2004 Pass % 34%/36% 32% 64%
2003 Pass % 42%/40% 47% 68%
2002 Pass % 44% 47% 58%
2001 Pass % 49% 46% 82%
2000 Pass % 52% 54% 65%
1999 Pass % 64% 54% 59%
1998 Pass % 59% 62% 59%
1997 Pass % 53% 59% 59%
1996 Pass % 53% 65% 64%
1995 Pass % 51% 46% 70%
1994 Pass % 48% 48% 73%
1993 Pass % 55% 56% 76%
1992 Pass % 59% 64% 82%
1991 Pass % 62% 54% 75%
1990 Pass % 60% 63% 75%
1989 Pass % 54% 64% 79%
1988 Pass % 55% 60% 71%
1987 Pass % 58% 64% 72%
1986 Pass % 59% 64% 77%
1985 Pass % 60% 74% 73%
1984 Pass % 58% 61% 81%
1983 Pass % 65% 65% 64%
1982 Pass % 59% 68% 73%
1981 Pass % 61% 85% 74%
1980 Pass % 63% 77% 86%
1979 Pass % 63% 84% 88%
1978 Pass % 64% 85% 75%
1977 Pass % 63% 81% 78%
1976 Pass % 72% 74% 84%
1975 Pass % 70% 75% 84%
1974 Pass % 70% 74% 84%
1973 Pass % 60% 57% 65%
1972 Pass % 64% 77% 73%
1971 Pass % 61% 74% 80%
1970 Pass % 66% 77% 61%
1969 Pass % 74% 78% 68%
1968 Pass % 70% 75% 77%
1967 Pass % 71% 89% 90%
1966 Pass % 77% 66% 83%
1965 Pass % 85% 78% 91%
1964 Pass % 79% 94% 95%
1963 Pass % - - 94%
Overall Pass % 42% 46% 57%
Last 10 years' (2009-2018) Pass % 41% 44% 52%
The basic requirements for participation in the CFA Program (with or without obtaining the charter) include holding a university degree or being in the final year of a university degree program (or equivalent as assessed by the CFA Institute), or having four years of qualified, professional work experience in an investment decision-making process. To obtain the charter, however, a candidate must have completed a university degree (or equivalent) and four years of qualified, professional work experience, in addition to passing the three exams that test the candidate's knowledge of the academic portion of the CFA program. However, an accredited degree may not be a requirement.[10][11]
Candidates take one exam per year over three years, assuming a pass on the first attempt. Fees as of December 2009 for each exam range from $710 to $955, depending on the date on which the candidate registers to take the exam, plus an additional $400 to $480 for program enrollment for new members. Level II and III pass rates apply to candidates that must have already passed the prior level(s).
All three exams are administered on paper on a single day; the Level I exam is administered twice a year (usually the first weekend of June and December). The Level II and III exams are administered once a year, usually the first weekend of June. Each exam consists of two three-hour sessions. Level I has 240 independent, multiple-choice questions—all information required to answer the question is contained in the question. Level II has 120 multiple-choice questions, organized as 20 six-question item sets, each set having its own vignette of facts. To answer each question, the candidate must refer to the vignette as there is insufficient information in the question stem. Level III consists of a session of constructive response, essay-type questions, and a session of 10 six-question item sets as in the Level II exam. On the multiple-choice/item set sections, there is no penalty for wrong answers. For the test, only two models of calculator are allowed (the Hewlett Packard 12C including the HP 12C Platinum), and the Texas Instruments BA II Plus (including the BA II Plus Professional).[12]
Candidates who have taken the exam receive a score report that is intended to be fairly unspecific: there is no overall score for the test, only a Pass/Fail result, and a range within which his or her performance for each topic area falls: less than or equal to 50%, 51%-70%, and above 70%. Failing candidates are informed of their decile rank within the body of failing candidates. The passing grade for the exams had been defined as 70% of the top percentage of exam papers until 1989; since then, the grading method is not explicitly published and the minimum passing score is set by the Board of Governors after each exam. The Board of Governors reviews the results of the standard setting process and input from independent psychometricians.[13]
Standard setting is a process that defines the passing score of the exam. The CFA exam uses the modified Angoff method which is a commonly used approach to setting standards for certification and licensure examinations. Subject matter experts review the exam and recommend a minimum passing score for the "just-qualified candidate". The minimum passing scores are presented to the Board of Governors in a report. The Board of Governors is not bound by this recommendation, but does recognize it as a very important information.[citation needed]
Curriculum[edit]
The curriculum for the CFA program is based on a Candidate Body of Knowledge established by the CFA Institute.[14] The curriculum comprises the topic areas below. There are three exams ("levels") that test the academic portion of the CFA program. All three levels emphasize the subject of ethics. The material differences among the exams are:
The Level I study program emphasizes tools and inputs, and includes an introduction to asset valuation, financial reporting and analysis, and portfolio management techniques.
The Level II study program emphasizes asset valuation, and includes applications of the tools and inputs (including economics, financial reporting and analysis, and quantitative methods) in asset valuation.
The Level III study program emphasizes portfolio management, and includes descriptions of strategies for applying the tools, inputs, and asset valuation models in managing equity, fixed income, and derivative investments for individuals and institutions.
2012 Level III CFA Program Curriculum
For exams from 2008 onward, candidates are automatically provided the curriculum readings from CFA Institute at the time of registration for the exam. The curriculum is not provided separately in the absence of exam registration. If the student fails an exam and is being allowed to resit in the same year, the CFA Institute offers a slight rebate and will not send the curriculum again (the curriculum changes only on an annual basis). If the student resits in a year other than the year of failure, he or she will receive the curriculum again, as it may have been changed. Study materials for the CFA Exams are available from numerous commercial learning providers, although they are not officially endorsed. Various organizations (some officially accredited) also provide course-based preparation.[15] As of 2019, the Chartered Financial Analyst (CFA) examination will add questions on artificial intelligence, automated investment services and mining unconventional sources of data.[16]
Ethics[edit]
The ethics section is primarily concerned with compliance and reporting rules when managing an investor's money or when issuing research reports. Some rules pertain more generally to professional behavior (such as prohibitions against plagiarism); others specifically relate to the proper use of the designation for charterholders and candidates. These rules are delineated in the "Standards of Professional Conduct", within the context of an overarching "Code of Ethics".
Quantitative methods[edit]
This topic area is dominated by statistics: the topics are fairly broad, covering probability theory, hypothesis testing, (multi-variate) regression, and time-series analysis. Other topics include time value of money—incorporating basic valuation and yield and return calculations—portfolio-related calculations, and technical analysis.[17]
Economics[edit]
Both microeconomics and macroeconomics are covered, including international economics (mainly related to currency conversions and how they are affected by international interest rates and inflation). By Level III, the focus is on applying economic analysis to portfolio management and asset allocation.
Corporate finance[edit]
The curriculum includes the more fundamental corporate finance topics—capital investment decisions, capital structure policy, and dividend policy—as well as advanced topics such as the analysis of mergers and acquisitions, corporate governance, and business and financial risk.[citation needed]
Financial reporting and analysis[edit]
The curriculum includes analyzing financial reporting topics (International Financial Reporting Standards and U.S. Generally Accepted Accounting Principles), and ratio and financial statement analysis. Financial reporting and analysis of accounting information is heavily tested at Levels I and II, but is not a significant part of Level III.[citation needed]
Security analysis[edit]
The curriculum includes coverage of global markets, as well as analysis of the various asset types: equity (stocks), fixed income (bonds), derivatives (futures, forwards, options and swaps), and alternative investments (real estate, private equity, hedge funds and commodities). The Level I exam requires familiarity with these instruments. Level II focuses on valuation, employing the "tools" studied under quantitative methods, financial statement analysis, corporate finance and economics. Level III centers on incorporating these instruments into portfolios.
Portfolio management[edit]
This section increases in importance with each of the three levels—it integrates and draws from the other topics, including ethics. It includes: modern portfolio theory (efficient frontier, capital asset pricing model, etc.); investment practice (defining the investment policy for individual and institutional investors, resultant asset allocation, order execution); and measurement of investment performance.[citation needed]
Legal and other recognition[edit]
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The Society of Actuaries (SOA) granted the credit of Validation by Educational Experience (VEE)-Economics to the candidates who passed the CFA Level I exam. SOA also granted both the credits of VEE-Corporate Finance and VEE-Applied Statistical Methods to the candidates who passed the CFA Level II exam.[18]
New York Stock Exchange (NYSE) granted CFA charterholders the option to take only the portion of the Supervisory Analyst examination dealing with exchange rules on research standards and related matters.[citation needed]
U.S. Securities and Exchange Commission (SEC) may grant exemption of the Series 86 testing requirements to financial analysts passing the CFA Level II examination who also meet other requirements of the Financial Industry Regulatory Authority, formerly known as the National Association of Securities Dealers (NASD).[19]
To register as a portfolio manager in Canada, under National Instrument 31-103, registrants must hold the CFA and possess relevant experience, or alternatively, the Chartered Investment Manager.[citation needed]
CFA charterholders are recognized by the UK's Chartered Institute for Securities & Investment (CISI) as fulfilling the qualification requirements for entry into full membership (MCSI).[20]
The level of the content of the CFA Program has been recognized by the United Kingdom NARIC as being comparable in level to a QCF Level 7 (master's degree level) qualification.[21]
Taiwan's Financial Supervisory Commission (FSC)[22] has approved the CFA designation with two-year practical working experience and passed the test of regulations of Securities Investment Trust & Consulting Enterprise and the test for common knowledge of financial markets and professional ethics, the common subjects, as equivalent to a local recognized industry qualification of Certified Securities Investment Analyst (CSIA) in Taiwan, after reviewed and approved by Securities Investment Trust & Consulting Association (SITCA)].[23]
The Academic and Accreditation Advisory Committee of Hong Kong's the Securities and Futures Commission (SFC) has approved the CFA designation as a recognized industry qualification for the licensing of Responsible Officers in Hong Kong.[citation needed]
CFA charterholders who meet the competence requirement, which include both education training and work experience, may apply to register with the Hong Kong Business Valuation Forum (HKBVF) as Registered Business Valuer (RBV) in Hong Kong.[24]
CFA charterholders are recognized by HK's Hong Kong Securities Institute (HKSI). Charterholders could apply for individual membership. (MHKSI).[25]
CFA charterholders are exempted by the Professional Risk Managers' International Association (PRMIA) from the first two required exams for the PRM qualification.[26]
Exemptions are available for various modules in the South African Registered Persons Examination,[27] depending on the candidate's level.[28] No exemptions are available for the examination on local market regulations and compliance.
CFA charterholders are recognized by Brazilian main regulator of securities analysts, APIMEC,[29] as the equivalent to their "global content" test, although the candidates must still pass a "local content" test to award their memberships.
CFP Board has approved the CFA charter as fulfilling most of the education coursework requirement for CFP® certification, pending completion of a capstone course registered with CFP Board prior to sitting for the CFP exam.[30]
Trademark disputes[edit]
This section's tone or style may not reflect the encyclopedic tone used on Wikipedia. See Wikipedia's guide to writing better articles for suggestions. (November 2015) (Learn how and when to remove this template message)
India[edit]
CFA Institute is strictly not affiliated with the Chartered Financial Analyst degree offered by the Institute of Chartered Financial Analysts of India (ICFAI) University of India or its affiliate, the Council of Chartered Financial Analysts (CCFA). In 1998, CFA Institute's predecessor organization, AIMR, sued and won a judgment against ICFAI/CCFA.[31]
The judgment prohibited ICFAI/CCFA and its members from using the CFA or Chartered Financial Analyst mark in the United States and Canada. In August 2006, an Indian court issued a temporary injunction against the Indian entity, as well.[citation needed]
The judgments made no assessment of the quality of the Indian program and merely discussed the trademark violation. The Indian Association of Investment Professionals is the only organization in India which is affiliated with CFA Institute. CFA Institute trademark rights to the "CFA" and "Chartered Financial Analyst" brands have been recognized in India by the Delhi High Court. Further, the Delhi High Court issued an interim injunction ordering ICFAI and its affiliated Council of Chartered Financial Analysts to stop using CFA Institute trademarks. The Deputy Registrar of Trade Marks did recently determine that a trademark registration issued to CFA Institute for the "CFA" brand must be republished because of an error by the Trade Marks Registry. CFA Institute has numerous trademark applications on file with the Trade Marks Registry, and CFA charterholders from CFA Institute are free to use the "CFA" and "Chartered Financial Analyst" marks throughout India.[32]
On May 8, 2007, the U.S. District Court for the Eastern District of Virginia vacated a default judgment issued against ICFAI that CFA Institute obtained in October 1998. ICFAI recently moved to reopen the case and to vacate the Default Judgment because the Court lacked jurisdiction over ICFAI at the time the Default Judgment issued. With the default judgement vacated, ICFAI informed Indian CFA Charter holders that they could legally use their Charter in the United States and Canada. However, on September 4, 2007, the Court reversed its decision to vacate after a motion to reconsider that decision was filed by CFA Institute.[33] The latest update on the CFA Institute's legal battle in India can be found from the interview of Ashvin P. Vibhakar, Managing Director of the CFA Institute.[34]
United Kingdom—Trade Marks Registry vs CFAI[edit]
In January 2007, the Trade Marks Registry, UK refused to register "Chartered Financial Analyst" as a trademark, as the word "chartered" in the United Kingdom is associated with bodies incorporated by royal charter and thus "the relevant public in the UK would, prima facie, expect a person using the mark applied for to be representing themselves as a member of an organisation of the kind subject to a Royal Charter".[35] "CFA" is a registered trademark in the UK, but only for "Educational services" (class 41) rather than "Financial services" (class 36) under which the attempt to register "Chartered Financial Analyst" had been made.[36]
List of CFA charterholders[edit]
Main article: List of CFA charterholders
See also[edit]
Other professional designations
Certified Treasury Professional (CTP)
Chartered Market Technician (CMT)
Certified International Investment Analyst (CIIA)
Chartered Alternative Investment Analyst (CAIA)
Financial Risk Manager (FRM)
Professional Risk Manager (PRM)
Certified Management Accountant by the Institute of Management Accountants
Certified Financial Planner (CFP)
Certificate in Quantitative Finance (CQF)
Chartered Investment Manager (CIM)
References[edit]
Jump up ^ "Member Directory". CFA Institute. CFA Institute. Retrieved 1 October 2018.
Jump up ^ "More than 170,000 Aspiring CFA Charterholders Sit for CFA Exams this Weekend". www.cfainstitute.org.
Jump up ^ "Become a CFA Charterholder". Cfainstitute.org. Retrieved 2015-11-23.
Jump up ^ [1] Archived July 29, 2014, at the Wayback Machine.
Jump up ^ "More than 14,500 Pass Level III CFA Exam, Join CFA Institute in Leading the Investment Management Profession". www.cfainstitute.org.
Jump up ^ "Research & Data". www.cfainstitute.org.
Jump up ^ "Charterholder Professions". Cfainstitute.org. Retrieved 2016-09-04.
Jump up ^ [2] Archived November 1, 2011, at the Wayback Machine.
Jump up ^ "CFA Historical Pass Rates" (PDF). Chartered Financial Analyst Institute. Archived from the original (PDF) on 2017-08-16. Retrieved 2017-08-16.
Jump up ^ "Membership Requirements". Cfainstitute.org. Retrieved 2015-11-23.
Jump up ^ "CFA Institute Membership". Cfainstitute.org. Archived from the original on 2011-11-01. Retrieved 2012-11-25.
Jump up ^ "CFA Institute- Calculator Policy". CFA Institute.
Jump up ^ Where Practice Meets Theory [Brochure]. (2016). Retrieved February 3, 2017, from https://www.cfainstitute.org/programs/cfaprogram/documents/cfa_program_theory_meets_practice.pdf
Jump up ^ "Topical Outline". Cfainstitute.org. Archived from the original on October 5, 2007. Retrieved 2010-03-23.
Jump up ^ "CFA List of Registered Curriculums and Educational Programs". Cfainstitute.org. Retrieved 2015-11-21.
Jump up ^ "CFA exam to add artificial intelligence, 'big data' questions". Reuters. 2017-05-23. Retrieved 2018-03-01.
Jump up ^ "2017 Level I CFA Program Curriculum" (PDF). CFA Institute.
Jump up ^ "Validation by Educational Experience". soa.org.
Jump up ^ "FINRA - Qualifications Frequently Asked Questions - Research Analysts". Nasd.com. 2003-04-22. Archived from the original on 2008-10-13. Retrieved 2010-03-23.
Jump up ^ "Member (MCSI)". Chartered Institute for Securities & Investment. Retrieved 2016-06-21.
Jump up ^ Recognized by UK NARIC (December 2009) as comparable to QCF Level 7.
Jump up ^ "金融監督管理委員會全球資訊網". Fscey.gov.tw. Retrieved 2010-03-23.
Jump up ^ "SITCA". sitca.org.tw. Retrieved November 23, 2015.
Jump up ^ "Hong Kong Business Valuation Forum". Hkbvf.org. 2005-09-29. Retrieved 2010-03-23.
Jump up ^ "Welcome to Hong Kong Securities Institute". hksi.org. Archived from the original on 2010-01-25. Retrieved 2010-03-23.
Jump up ^ "Professional Risk Managers' International Association". PRMIA. Retrieved 2010-03-23.
Jump up ^ "The South African Institute of Financial Markets: Registered Persons Examination". Saifm.co.za. Retrieved 2010-03-23.
Jump up ^ "Registered Persons Examination Exemptions". Saifm.co.za. Retrieved 2010-03-23.
Jump up ^ "APIMEC". Apimec.com.br. Retrieved 2015-11-21.
Jump up ^ "Education Requirements". cfp.net. Retrieved 2016-07-16.
Jump up ^ "AIMR Obtains Favorable Ruling in Trademark Infringement Suit". Cfainstitute.org. Archived from the original on April 26, 2007. Retrieved 2010-03-23.
Jump up ^ "FAQs". cfainstitute.org. Retrieved November 23, 2015.
Jump up ^ "India FAQS: The CFA Program in India". Cfainstitute.org. Archived from the original on October 7, 2007. Retrieved 2010-03-23.
Jump up ^ "MD, CFA Institute Discusses the Latest Developments on the CFA Exams in India". Daulatguru.com. Archived from the original on 2010-04-08. Retrieved 2010-03-23.
Jump up ^ "Trade Mark Application No. 2226144: Chartered Financial Analyst" (PDF). Patent.gov.uk. Retrieved 2015-11-21.
Jump up ^ "Case details for trade mark UK00002225116". UK Intellectual Property Office. Retrieved 28 June 2016.
External links[edit]
Wikimedia Commons has media related to Chartered Financial Analyst.
CFA Institute membership profile
CFA Institute Global Investment Research Challenge
FINRA Education Reference Guide Showing CFA Charter and Requirements
US Department of Labor - U.S. Bureau of Labor Statistics Occupations Guide .
Retrieved from "https://en.wikipedia.org/w/index.php?title=Chartered_Financial_Analyst&oldid=863464896"
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