Certified Investment Research Analyst (CIRA)

The Certified Investment Research Analyst (CIRATM) certification is a comprehensive global certification exam designed to asses a candidate’s  expert level understanding of investment research skills.  This program tests a candidate on his capability to develop  a disciplined and systematic approach to designing reports that assess the investment merits of first-time and existing issuers, provide ongoing assessments of trends in a given industry and identify investment opportunities in the secondary markets.

Investment Analysis is the study of how an investment is likely to perform and how suitable it is for a given investor. Investment analysis is key to any sound portfolio-management strategy. Most analysts, the aspiring and the experienced, agree to the fact that investing is about facts, models, mathematics, and analysis. CIRATM certification exam integrates a  complex body of investment knowledge holistically covering these skills.

The evolution of capital markets the world over along with other investment classes, have created a need for investment research analysts with a new level of sophistication and a deep understanding of markets, economics, consumers &  technology. The CIRATM certification is a credential designed specifically for financial professionals who want to attain an advanced  level of  competency as an investment analyst. who possess strong accounting, finance, quantitative and business writing skills. deep curiosity in business and industry, well-honed financial analytical ability, and exceptional written and oral communications skills

This program uses a variety of interactive learning tools, including case studies, projects and hands-on exercises. CIRATM certification is also a part of the prestigious global certification – Certified International Investment Analyst (CIIA).  CIRATMcandidates will be part of a global network of Investment experts  connected with CIIA who are dedicated to picking the right investments at the right time.

CIRA – Gateway to Global CIIA designation

Certified Investment Research Analyst (CIRA) is a part of the prestigious global certification- Certified International Investment Analyst (CIIA).

CIRA is the Indian national exam for the CIIA certification. CIRA certificants with a minimum 3 years of relevant experience are eligible to register for CIIA through the EQC route.


Reference Book/Study Material

The Suggested/Recommended reference book for this course is ” Investment Analysis and Portfolio Management  (English, Paperback, Prasanna Chandra, 5th edition, ISBN 9789385965579)” is available on leading bookstores and online portals. Students can buy the recommended reference book directly from the Market for the said course.

Exam Details

AIWMI offers the CIIB examination across 5000+ Pearson VUE computer testing centers in 180 countries worldwide. Candidates can schedule exam after paying exam fees on any working day on any of the above centres.


Description Amount (INR)
Registration Fee – (5 Years validity) INR 11,800
Exam Fee – (3 Months validity) – Per attempt * – India Candidates INR 3,540
Exam Fee – (3 Months validity) – Per attempt * – outside India Candidates INR 7,080

Exam Structure

Sr. No. Name of Module Type of Questions Test Duration in minutes No. of Questions Maximum Marks Pass Percentage (%) Negative Marking
1 Certified Investment Research Analyst (CIRA) 1 Mark MCQ – 120 180 120 120 60 No