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CFA Institute Research Challenge

An educational initiative that promotes best practices in equity research among the next generation of analysts

The CFA Institute Research Challenge is an annual global competition which provides university students with hands-on mentoring and intensive training in financial analysis and professional ethics. Each student participant will be tested on their analytic, valuation, report writing and presentation skills and gain real-world experience as they assume the role of a research analyst.

More than 6,100 students from over 1,150 universities, 117 CFA Local Level Challenges, and 160 local hosts in 95 countries and territories with more than 4,000 dedicated member volunteers participated in the 2018-2019 CFA Institute Research Challenge.

Click here for details on how the Research Challenge works.

CFA Society Chicago is proud to host the local level of the CFA Institute Research Challenge in Chicago.

Schedule of Events

Research Challenge spans October 2019 through February 2020 and consists of the following components:

  • CFA Society Chicago Research Challenge Kick-Off Webinar (October 4, 2019)

Financial Valuation Models

Introduction to Company Analysis

Industry & Company Analysis

Financial Analysis Review Grid

  • CFA Society Chicago to officially announce Feature Company (October 4, 2019)
  • Student and Faculty Advisor registration deadline for Feature Company Presentation (October 23, 2019)
  • CFA Society Chicago to assign each team an industry mentor (No later than October 25, 2019)
  • Feature Company Presentation (October 25, 2019 – Location TBD)
  • Teams finalized and registered with CFA Society Chicago and CFA Institute (October 26, 2019)

Student Registration

Volunteer Registration

  • Equity Research Report due to CFA Society Chicago (January 21, 2020)
  • Advancing Teams Announced (February 7, 2020)
  • Americas Regionals  (April 20-21, 2020 – New York)
  • Global Final (April 22, 2020 – New York)

Feature Company: ULTA

Company Profile Available Soon

Participating Universities (As of october 4, 2019)

Augustana College
Aurora University
Benedictine University
DePaul University
Illinois Institute of Technology
Loyola University Chicago
Northern Illinois University
Olivet University
The University of Chicago (2 Undergraduate Teams)
University of Illinois Urbana Champaign


Contact us at researchchallenge@cfachicago.org


2018 – 2019 CFA Society Chicago

Local Level Winner

Illinois Institute of Technology