BMU and NAII Conduct Exam on Finance and Investment

The first-ever 2025 Investment Challenge competition – designed based on the CFA Level 1 exam model and adapted to the practices of Uzbekistan’s stock market – was held at the British Management University (BMU). Teams from eight universities, each consisting of five senior students, participated in the inter-university competition.

The event was organized by the National Association of Investment Institutions (NAII) and sponsored by the investment company Freedom Broker. According to BMU Vice-Rector Lionel Henderson, the primary aim of the competition is to prepare students for the CFA certification and to draw attention to career opportunities in finance and investment: "This event provides students with the opportunity to be tested in a format close to the CFA exam.

We aim to train professional specialists who can manage finance and investments at a high level, in line with economic growth." NAII Secretary-General Temur Khasanov emphasized that the initiative is aimed at fostering interest in the capital market among young people: "Many finance graduates consider working in banks. However, we want to show them other opportunities – such as investment companies, brokering activities, and stock exchanges.

If we teach students the fundamentals of the capital market today, the next generation will be more financially literate and able to develop the market." Zafar Karimov, an advisor to the CEO of Freedom Broker, underlined the importance of practical experience for students: "We are delighted with the activities of NAII and universities focusing on not only improving the financial literacy of the population in Uzbekistan but also creating opportunities for students interested in developing careers in the capital market. These kinds of competitions can serve as great motivation for future investors, while companies can benefit by enriching the market with young and highly educated talent." The competition format included individual tasks comprising 40 multiple-choice questions.

The questions covered five key topics: financial statement analysis, equity investments, corporate issuers, quantitative methods, and economics. Additionally, participants answered questions about the history of the stock market and the specific features of Uzbekistan’s capital market.

Each block was scored out of 40 points, with a maximum team score of 200 points. Organizers plan to continue similar initiatives to connect students and professionals with the goal of advancing the capital market in the country.

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