Executive Education

Chicago Booth CIMA Education Program

The Chicago Booth CIMA® Education Program brings together top faculty, experienced practitioners, and a comprehensive curriculum designed to help you achieve CIMA certification and excel in your day-to-day investment practice.

Download Program Brochure»

Introducing an online CIMA program format.

The Chicago Booth CIMA Education Program is a CIMA Certification Registered Education course* that offers an online, blended learning experience for your convenience. This flexible format allows you to work at your own pace and provides you the opportunity to engage with Booth faculty through a live, recorded virtual classroom environment.

The Chicago Booth CIMA Education Program provides learnings that go beyond test preparation and covers important investment concepts at an in-depth level. Our approach provides you with clear instruction, real-world examples, ample practice, and access to a curriculum with a proven track record of success.

Program highlights:

  • A combination of live online, on-demand, and in-person (recommended) instruction.
  • A personalized study schedule, reading list, and checklist to keep you on a successful path.
  • On-demand lectures strategically released to optimize your learning process.
  • A strong team of Chicago Booth faculty and experienced practitioners have designed and will deliver the program.

Multiple Formats
A true hybrid program, the Chicago Booth CIMA Education Program offers a combination of live online preparation and review sessions, on-demand recorded content sessions, and a recommended 2-day in-person session.

1. Online, Live Instruction (required)
These sessions are recorded for offline viewing, but we highly recommend you attend these live sessions to stay on our recommended study schedule.

  • Foundations: We start the program with four live online foundation sessions which cover the nuts and bolts of what you need to know to progress through the program. We will develop the theories and work through practice problems together.

  • Weekly Review and Practice Problem Solving: In these sessions, we will review the main concepts covered in the weekly recorded lectures, connect the current to prior lectures, apply the concepts in real-time through practice problem solving, provide answers to your questions, and keep your study on track.

2. Online, On-Demand Instruction (required)

  • Watch video lectures taught by a mix of tenured faculty and practitioners who are experts in their field. These videos capture each instructor’s unique style and are formatted into a series of short, digestible segments for maximum impact.

3. In-person Instruction (recommended)

  • For additional test prep, you are strongly encouraged to attend the Chicago Booth CIMA CE Workshop. This workshop is included as part of the CIMA Education Program, so you do not need to register separately or pay an additional fee. During this 2-day session in downtown Chicago, you will review exam topics, connect topics to the formula sheet, and perform practice problems. This session is a supplement, not a substitution, for our CIMA Education Program.

CE Credit
This program is approved for 28 hours of CE credit for CFP® certification. The Investments & Wealth Institute is a CE Quality Partner of CFP Board and the sponsor of the education.

To learn more about the Chicago Booth CIMA Education Program, download our program brochure»

*INVESTMENTS & WEALTH INSTITUTE® is a registered mark of Investment Management Consultants Association Inc. (“IMCA”) doing business as The Investments & Wealth Institute (“The Institute”).  CIMA® and CERTIFIED INVESTMENT MANAGEMENT ANALYST® are registered certification marks of IMCA d/b/a The Institute.  As described in the CIMA Candidate Handbook, completion of an executive education program offered through a Registered Education Provider does not result in attainment of the CIMA certification nor does it award use of the certification marks.  Completion of an executive education program results in a candidate becoming eligible to sit for the CIMA Certification Exam and thereafter to complete the remaining steps for certification.

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Kathleen Fitzgerald

Adjunct Associate Professor of Strategic Management

Kathleen Fitzgerald is known at the University of Chicago as a superb educator. She brings a wide array of experience as an educator and a practitioner to the classroom. She has taught courses in Investments, Corporate Finance, Financial Accounting, Strategy, Money and Banking, International Finance and Financial Management. She has been teaching in our CIMA Education program since its inception. Her professional experience includes auditing and tax consulting at Ernst & Young, LLP and forensic accounting consulting at Chicago Partners.

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Veronica Guerrieri

Ronald E. Tarrson Professor of Economics

Veronica Guerrieri joined Chicago Booth in 2006, she has been a Research Associate of the National Bureau of Economic Research since 2013, and she has been a consultant at the Federal Reserve Bank of Chicago since 2014. She has been a visiting professor at MIT, Yale, LSE, NYU, CREI and EIEF and a Visiting Scholar at the Federal Reserve Bank of Minneapolis. Guerrieri earned her bachelor's degree summa cum laude and master's degree in economics from Università Commerciale Luigi Bocconi in Milan and a PhD in economics from Massachusetts Institute of Technology.

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John C. Heaton

Joseph L. Gidwitz Professor of Finance

John C. Heaton studies asset pricing, portfolio allocation, and time-series econometrics. He was first drawn to this area because he was "intrigued by the idea of understanding economic phenomena both to guide policy and to help people make better decisions." His research in these areas has earned him numerous fellowships, including an Alfred P. Sloan Research Fellowship from 1993 to 1995.

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John Nersesian

CFP®, CIMA®, CIS, CPWA®, US Global Wealth Management, PIMCO

John previously served as managing director of wealth management services for Nuveen Investments from 2000 to 2018. He also served as a first vice president at Merrill Lynch Private Client Group, where he was also a leader of advanced training for financial consultants. He is a frequent speaker in the areas of investment consulting and financial planning, and contributes to a variety of media outlets. John served on the IWI board of directors from 2006 to 2017, and as chairman for the 2013-2015 term. He is a faculty member for both the CIMA and CPWA education programs offered through IWI at The University of Chicago and Yale University. He received a B.S. in Business and Economics from Lehigh University.

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Lubos Pastor

Charles P. McQuaid Professor of Finance

Lubos Pastor is Charles P. McQuaid Professor of Finance at the University of Chicago Booth School of Business. He is also a Research Associate at the National Bureau of Economic Research and a Research Fellow at the Centre for Economic Policy and Research. In addition, he serves as an Associate Editor of the Journal of Finance, Journal of Financial Economics, and Review of Financial Studies.

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Devin G. Pope

Professor of Behavioral Science

Devin Pope studies how psychological biases play out in field settings and economic markets. He has published work in top economics outlets such as the American Economic ReviewQuarterly Journal of EconomicsJournal of Political Economy, and Review of Economic Studies. Pope holds a PhD in economics from the University of California, Berkeley.

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Pietro Veronesi

Deputy Dean for Faculty and Chicago Board of Trade Professor of Finance

Professor Pietro Veronesi has been a part of the University of Chicago's teaching faculty since 1997. Veronesi conducts research that focuses on asset pricing, stock and bond valuation under Bayesian uncertainty and learning, and equilibrium models of return predictability. Veronesi is a research associate of the National Bureau of Economic Research and a research fellow of the Center for Economic and Policy Research.

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Ira S. Weiss

Clinical Professor of Accounting and Entrepreneurship

Ira Weiss specializes in tax strategy, financial accounting, mutual fund taxation, and private equity investing. He teaches advanced MBA courses in both tax strategy and entrepreneurship at Chicago Booth, and helps support the entrepreneurial community through his work as the faculty director of Hyde Park Angels, an angel investing group affiliated with the Polsky Center for Entrepreneurship.

I had a great experience studying for the CIMA exam through the University of Chicago Booth School of Business Education Program. I was amazed at the quality of the content, the expertise of the professors, and the structure of the program. The online modules and videos made it easy for me to both stay on track and also work at my own pace. I encourage anyone who is taking the CIMA exam to consider Chicago Booth for your preparatory course.

-Logan Jones, CFP®, CIMA®, Financial Advisor, Everhart Advisors

The class was excellent and gave me ideas I can use to improve my business.

-Jeff Martin, President, KDM Investment

Chicago Booth’s history of achievement in the area of finance and theory were the reason I chose Booth.

-John DeGroft, Senior Vice President, Merrill Lynch

The rigor was exceptional. The challenge makes this a truly career/education enhancing building block. Wonderful to get exposure to U of C – professors/staff and curriculum.

-Cheryl Snook, AVP, Financial Advisor, Morgan Stanley

Robust curriculum, thoughtfully designed and masterfully taught. Thank you Chicago Booth! You have more than exceeded my expectations!

-Era Yoo, SVP, Northern Trust

The University of Chicago has a well-planned approach to teaching the CIMA curriculum. All of the important concepts are covered in a clear, concise format. The professors really want to make sure you understand the material and go to great lengths to provide intuition behind some of the math concepts. The class is very interactive and the faculty make themselves easily accessible throughout the class. I strongly recommend this program to anyone considering attaining the designation.

- Todd Muentzer, CIMA®, ETF Specialist

Excellent program with in depth analysis of calculation needed for course material.

- Robert Filetti, Robert Baird

This class was far above my expectations.  This is a great value for the cost.

- Alicia Frye, Regional Business Consultant, Symmetry Partners

This was a great overall experience.  Kathleen does a great job presenting and reviewing the content.  It was also beneficial to connect with other students preparing for the exam.

- Jon Maldonado, Financial Advisor, UBS Financial Services

I would definitely recommend this program to a colleague because I am a big believer in process and discipline, and if you follow the UC Booth process, attend live classes, complete the readings and videos, do the practice problems each week, you will pass the exam. UC Booth has discovered a formula for success and strikes a good balance between helping you understand the information from an academic perspective, while knowing key focus areas for the exam. Also, I felt the material was extremely relevant to working with clients and immediately applicable in my own job.

It is great to have a class that you spend months with that has diverse experiences and roles within our industry. This allows us to network and build out lifelong connections after the program is over. 

-Greg Goin CFP®, CIMA®, CLU®, CRPC® Advisory Solutions Director

There are very few people that I have met that have a true depth of knowledge in their field.  Kathleen is one of them.  She is amazing in her understanding of the concepts.

- Program past participant

Program Outline 

Foundations: Modules 1-4 (live online and recorded)

  • Time Value of Money
  • Calculating Realized Returns
  • Statistics and Probability
  • Risk and Return

Course Content: Modules 5-12 (on demand)

  • Module 5: Portfolio Theory
  • Module 6: Capital Asset Pricing Model (CAPM), Multifactor Models
  • Module 7: Behavioral Finance, Market Efficiency, Market Anomalies
  • Module 8: Performance Measurement, Tax Efficient Strategies, Socially Responsible Investing
  • Module 9: Applied Economics, Global Capital Markets History and Valuation
  • Module 10: Fixed Income
  • Module 11: Alternative Investments
  • Module 12: Hedge Funds, Portfolio Construction and Consulting Process

Weekly Review and Problem Solving Sessions (live online and recorded)

  • Held once per week during Modules 5-12

Chicago Booth Final Assessments (online)

  • Candidates must pass five final quizzes and a final exam online before taking the CIMA Certification Exam
  • The quizzes are accessible after all materials from Modules 1-12 have been completed
  • The final exam is available after the CIMA CE Workshop concludes

Recommended: Chicago Booth CIMA CE Workshop (in person)

  • 2-day review course held in downtown Chicago at Booth's Gleacher Center campus
  • Intensive review for the CIMA Certification Exam


What is CIMA certification?
Today’s complex and global financial world requires sophisticated solutions from competent, ethical advisors in retail and institutional capacities. Against this backdrop, CIMA certification signals that an investment professional has completed a rigorous program to achieve a high level of competency, professionalism, and investment expertise.  Since April 2011, CIMA certification has been recognized as one of a handful of financial services credentials in the US to meet an international standard for personnel certification (ISO 17024) and earn accreditation by the American National Standards Institute (ANSI).

Who should attend?
CIMA certification is beneficial to experienced financial professionals from a variety of backgrounds and business models including: financial advisors, investment consultants, analysts, wealth management professionals, national and regional broker-dealer representatives, and bank/trust employees. The Booth program is open to CIMA candidates in good standing.

How do I earn CIMA certification?

  • Step 1: Submit a certification program application, with fee, and pass a comprehensive background check performed by Institute staff. The application is valid for two years from the date it is accepted by the Institute. The application is reviewed to verify that the applicant meets the program requirements. Applicants will either be accepted into, or denied from, the program.
  • Step 2: Complete the Chicago Booth CIMA Program and pass the Booth final assessments.
  • Step 3: Pass the CIMA Certification Exam. The Certification Exam is administered at local testing centers. A candidate may sit for this examination as often as necessary, but retesting fees apply, and there is a 30 day wait period between exam attempts.
  • Step 4: Demonstrate a minimum of three full years of verified professional experience in financial services or related industry, pass a second background check, complete a license agreement and agree to adhere to the Institute’s Code of Professional Responsibility and Rules and Guidelines for the Use of the Marks.

If you have not yet begun the CIMA certification process or would like more information about the Investments & Wealth Institute's advanced certification qualifications, please contact Investments Wealth Institute directly at (303) 770-3377 or visit www.investmentsandwealth.org.

When can I take the CIMA Certification Exam?
Candidates who have completed the education program must sit for the Certification Exam within a 90 day scheduling window. If you are unable to sit for the exam in this specified window, a rescheduling fee is required to open a new 90 day exam scheduling window. You may sit for the exam as often as necessary, but retesting fees apply, and there is a 30 day wait period between exam attempts.



What materials are provided?
You will gain access to multiple resources including: live online sessions, lecture videos and notes, online quizzes, numerous practice problems, and background readings including online access to two textbooks: Investments (11th ed.) published by McGraw-Hill and The Investment Advisor Body of Knowledge published by Wiley.

How do I join the live sessions online?
You will need to be able to access and use WebEx. These sessions are recorded for offline viewing, but we highly recommend you attend live to stay on our suggested study schedule.

How many hours of study per week can I expect?
We recommend an average of 15 hours per week over the 12-week program. After successfully completing the program, you should also plan to spend additional time studying for the CIMA Certification Exam. The Chicago Booth CIMA CE Workshop is designed to help you prepare for this exam.  In total, it takes most candidates 4-6 months to complete the certification process.

What if I don’t pass the online exam?
If you do not pass on the first try, you may take it again, but we recommend that you study for one week in between attempts. The maximum number of attempts is five. If you do not pass within five attempts, we will have a discussion about how to proceed.

How long will I have access to the course?
You can access the program materials for one year following the course. If there is a reason you don't complete the education program or pass the Certification Exam within one year, pay a fee to extend access to the course materials.

Will I receive a certificate of completion from Chicago Booth?
Yes, after you have passed the Booth exam and successfully completed the Chicago Booth CIMA Education Program.

Is the education program approved for CE credit?
Yes, this program is approved for 28 hours of CE credit for CFP® certification. The Investments & Wealth Institute is a CE Quality Partner of CFP Board and the sponsor of the education.

Is remote access available for the CIMA CE Workshop?
No, this intensive review must be experienced in-person for maximum impact.

Upcoming Courses

Date Fee  

May 20 - August 14, 2020

$4,850 Register Now »

September 9 - December 4, 2020

$4,850 Register Now »

Fee does not include accommodations.

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