How useful are financial certificate courses?

A number of bodies offer such courses, which are useful for beginners looking for a foothold and experienced people looking for a refresher

Interested in financial markets? Looking for an edge on your CV? Why not add a certificate?
A number of financial certification programmes are being offered by institutes across the country that should improve your knowledge. These programmes vary in scope and duration (from a day to a few months) but are generally specialist — essentially modules of a specific subject, allowing you to select the exact area you want to gain knowledge in.
The fees charged range from `1,500 for a beginner's module to `15,000 for a longer-duration course, and vary depending on the subject and level of course sought (basic/ advanced, etc).
Profitable move
Such specialist knowledge will also help you understand the diverse and complex investment options brought to you by financial players and agents.
For example, you may have a money manager assigned to you by the bank/ broker, to look after your investments. But that doesn't mean you can relax and wake up only when you realise that you haven't made handsome returns for the fees you paid.
Not just investors, but even employees of financial companies, and students of finance can take up such programmes. Housewives who wonder about the stock market will also find answers to their queries.
The National Institute of Securities Markets (NISM), established by the capital markets regulator Securities and Exchange Board of India, the Bombay Stock Exchange, the National Stock Exchange and the Insurance Regulatory & Development Authority are among bodies that offer certificate courses.
The Association of Mutual Funds of India (Amfi) used to hold courses for mutual funds, but those are now conducted by the NISM.
"The BSE Training Institute offers a wide selection of basic and advanced financial courses aimed at beginners as well as financial professionals," says Ambarish Datta, CEO of the institute. "The courses offered at our institute are more market driven, which helps our students gain insights into the current practices and opportunities in the financial markets industry."
A note of caution
The certificate programmes are useful for beginners looking for a foothold and experienced people looking for a refresher. So don't go there if you are already well-versed in the subject.
Also, these courses teach you a good deal about how a particular industry functions, but they will give you mainly theoretical knowledge; putting it in to practice is your responsibility.
Students who are close to entering the job market often have a fetish for collecting certificates, believing it improves their chances of getting placed. But note that while these courses may add weight to your resume, they don't come with a job guarantee.
The test
At the end of the programme, you need to clear a test to be certified.
Such tests take place online, usually in the office of the institute or at registered centres across India.
Since they are conducted online, checking is immediate and you will be informed of your score on completion of the test. The main objective of such tests is gauge your understanding of the chosen subject, to ensure it passes the minimum set standards.
The tests have negative marking, usually 0.25. This means for every 4 wrong answers, you will lose one mark on your test score.