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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 5,000+ students from over 900+ universities, 113 CFA Local Level Challenges, and 150+ local hosts in 91 countries and territories with more than 3,000 dedicated member volunteers participated in the 2020-2021 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 2021 through April 2022 and consists of the following components:

CFA Society Chicago Research Challenge Kick-Off Webinar – October 1, 2021

Financial Valuation Models

Introduction to Company Analysis

Industry & Company Analysis

Financial Analysis Review Grid

Teams registered with CFA Society Chicago and CFA Institute – October 29, 2021

CFA Society Chicago to assign each team an industry mentor – By November 18, 2021

Company Presentation – November 19, 2021

Expert Analyst Webcast – December 3, 2021

Finalized Equity Research Report due to CFA Society Chicago – January 21, 2022

Advancing Teams Announced – February 11, 2022

CFA Society Chicago Local Level Competition – February 25, 2022

CFA Institute Sub-Regionals – March 21, 2022

Americas Regional Semifinals – April 7-8, 2022

Americas Regional Finals – April 28, 2022

Global Final (Virtual) – May 16, 2022

Feature Company: Motorola Solutions

Motorola Solutions is a global leader in mission-critical communications and analytics. Their technology platforms in mission-critical communications, command center software, video security & analytics, bolstered by managed & support services, make cities safer and help communities and businesses thrive.

Headquartered in Chicago, IL, Motorola Solutions had $7.4 billion in sales in 2020. The organization has more than 18,000 employees in 50 countries and over 100,000 customers in more than 100 countries.

Participating Universities

Augustana College
DePaul University
Illinois Institute of Technology
Northern Illinois University
Northwestern University
University of Illinois Urbana-Champaign


Contact us at info@cfachicago.org



2021 – 2022 CFA Society Chicago Presentations

NIU team members Nolan O’Rear, Nicholas Stone, and Paula Veyhle present at the CFA Institute Research Challenge Global FInals held on May 13, 2022

Winning Team: Northern Illinois University

Company Presentation: 2021-2022

Research Challenge Industry Experts



2020 – 2021 CFA Society Chicago Presentations