Advanced Financial Modeler | Full Stack Modeller

Find out more about the Advanced Financial Modeler (AFM) certificate from the FMI.

What is the Financial Modeling Institute?

The Financial Modeling Institute (FMI) was founded in 2017 with the goal of “Promoting awareness, excellence and discipline in Financial Modeling through world-class accreditation programs”.

The Financial Modeling Institute (FMI) focuses on assessment, leaving the delivery of training to independent and proven partners like us at Full Stack Modeller.

What are the FMI certification levels?

The Financial Modeling Institute (FMI) has three certification levels. These are: Advanced Financial Modeler (AFM); Chartered Financial Modeler (CFM); and Master Financial Modeler (MFM).

When do the AFM FMI exams take place?

• The Advanced Financial Modeler (AFM) exams are typically in February, May, July, and October.
• For 2026 the dates are: 21st February, 9th May, 11th July and 24th October.

Full Stack Modeller - Your AFM training partner

Full Stack is led by Giles Male, one of only eight Master Financial Modelers worldwide. 

Our comprehensive Financial Modelling course has been designed and structured specifically to give you the skills to be able to pass the Advanced Financial Modeler exam.

Our quarterly AFM Bootcamps are jam-packed with core skills and exam technique tips to help you pass the exam.

Our Pro Package  includes all of our Bootcamp benefits, plus an FMI exam sitting. Perfect if you're ready to achieve the Financial Modelling Institute certification.

Full Stack Modeller is a recognised training provider by the Financial Modelling Institute.

What is the cost of the AFM exam

The Advanced Financial Modeler (AFM) exams cost $695. 

Is AFM worth it?

The Advanced Financial Modeler certificate is fast becoming recognised as THE financial modelling certification program. The exam is a rigorous test of the modeller's ability to build a three statement model under pressure. It is tough, and as such those who pass the exam have proven their ability.

If you are looking for a certification process to demonstrate your financial modelling ability then we highly recommend the AFM certicate from FMI.

How hard is the AFM exam?

The AFM exam is tough. You have four hours to build a three-statement model from scratch. You are not allowed to use a starting template, and automations are restricted.

Passing the exam requires strong technical knowledge and excellent exam technique, including time management. 

The pass rate is typically around 60%.

How long is the AFM exam?

You have four hours to complete the AFM exam.If you have prepared well then this is certainly achievable.

How to prepare for the AFM exam

There are three core elements to being in the best possible position to pass the exam:

  1. Ensure you have the technical modelling knowledge

  2. Refine your exam technique

  3. Practice, practice, practice

How we support FMI students at Full Stack

Full Stack Modeller is an accredited training provider for the Financial Modeling Institute.

Our core training program covers all the Excel and financial modelling skills that you need to succeed in the FMI exams.

Our Financial Modelling course will ensure that you have the core skills needed to be able to pass the Advanced Financial Modeler exam.

Our quarterly AFM Bootcamps are jam-packed with core skills and tips to help you pass the exam.

Our Pro Package  includes all of our Bootcamp benefits, plus an FMI exam sitting. Perfect if you're ready to take the AFM exam.

Learn from a Master Financial Modeler

Giles Male, our co-founder and CEO, has achieved the prestigious, highest level of accreditation from the FMI - The Master Financial Modeler.

Learn from the best.