We strive to build the “Real-world PhD” Program in Graham-Buffett Investing for the Poor, Hungry and Dedicated (PHD). Therefore, in the final year of the QIA Program, it will be time for the candidate to complete his or her “PhD” Thesis in the field of investment management and research.

To pass the Capital Markets Exam (Advanced Level) , a candidate must:

1. Pass a three-hour proctored written exam focused on real-time case studies. A candidate must soak up recent financial and business news to offer insights and judgments.
2. Submit a detailed research report on one of the candidates’ single best ideas for the year.
3. Complete a research report based on a book chosen by the candidate. The book must meet certain tests of analytical vigor and must be pre-approved.
4. Write a research white paper based on a topic or an investment issue designated by AQIA.
5. Complete and submit the final Thesis for graduation.