All Students/Faculty Advisors are advised to strictly adhere to following guidelines. For Questions, Please email


Important Disclosure regarding Conflict of Interest

  1. All participants in the CFA Institute Research Challenge, including Hosts, Teams, Team Members, Mentors, Faculty Advisors, Judges and Graders have an obligation to avoid actual or potential conflicts of interest with their participation. A conflict of interest may exist when a participant or a participant’s family member or close friend is involved in activities that may impact the participant’s ability to perform their role fairly and impartially. A conflict may be actual or perceived. To avoid any actual or perceived conflicts of interest, each participant must disclose to CFA Institute in writing any potential conflicts, including but not limited to any ownership interest in the Subject Company and any close personal or professional relationships with employees at the Subject Company. Judges and Graders must further disclose any close personal or professional relationship with Team Members, Mentors or Faculty Advisors

Best Practices for conference call:

  1. Schedule: please check with the Mentor few days in advance (preferably email) regarding his schedule and fix up a suitable time to call. Please be mindful that all industry professionals have taken an extra initiative to mentor your team and hence, please respect their time and busy schedule.
  2. Agenda: send agenda/queries to mentors well in advance before the conference call to ensure an effective and smooth meeting.
  3. Time Log: for all meetings please maintain a time log on :
  4. Confirmation email: send a confirmatory email to Mentor regarding points discussed and clearly chart out action points and follow up dates.
  5. Students are advised to apprise their industry mentors about their schedule of company presentation and written report submission deadline asap. If the Mentor is not available/busy during that time frame, please let us know in advance so that we can arrange for an alternate.


Other Guidelines

  1. Please note that Face to Face Mentor meetings are only feasible where both Mentor as well as the College is in the same city and the mentor can allocate separate time slot for meeting students. For all colleges, it’s best to conduct meetings with Mentors via conference call over telephone.
  2. Reports are for educational purposes only, and the information contained in them may not be used by mentors to make recommendations to clients or to the public at large.
  3. Student contact with mentors will be limited to a maximum of 3 face-to-face meetings, not to exceed 6 hours total, prior to submitting the written report. Phone calls, emails and any additional contact are included in these 6 hours. Teams may spend an additional 2 hours with their mentors for each local, regional, or global final in which the team participates for presentation guidance. 
  4. Students are preparing these reports from the perspective of a sell-side analyst. They can read existing research on the company, but all analysis should be their own. They should not cut and paste analysis from another source into their written reports or presentations.
  5. Mentors will be allowed to review students’ written work and provide comments only. Mentors will not be allowed to perform any research or write any portion of the report.
  6. Mentors may not contact the subject company, or any of its affiliates, distributors, suppliers or competitors within the context of the Challenge, with the exception of supervising student contacts.
  7. Mentors may not participate in the company presentation. If they are allowed by the local society to be present, it is only in a supervisory role, to ensure that no material non-public information is discussed. Mentors may not ask any questions to or provide any opinions of the company. Presence at the company presentation in this capacity will not count toward the six-hour maximum.
  8. The teams typically consist of both undergraduate and graduate students. As such, their range of knowledge may vary greatly. None are CFA Charterholders or have worked previously in equity analysis. The primary responsibility of the mentor is to inject a “real-world” industry perspective into the students’ theoretical knowledge base. Mentors should not be responsible for teaching students how to perform a DCF or other analysis. This should be the job of the faculty advisor(s).


Subpages (1): Mentorform