The Indian Institute of Finance (IIF) was founded in 1987 as a non-profit autonomous educational institution, to promote education and research in finance. One of its missions is to help increase the global competitiveness of Indian industry.

The institute offers courses in management of business finance (MBF), executive management of business finance (EMBF) and a fellow programme in business administration (FBA).

The prospectus and application form can be obtained from the institute on the payment of Rs 1,000 through a demand draft or pay order drawn in favour of the Indian Institute of Finance and payable at Delhi. A processing fee of Rs 200 has to be submitted along with the application form.

The form may also be downloaded from the website (www.iif.edu), filled in and sent to the institute along with the application and the processing fee.

Forms should be sent to the Administrative Officer, Indian Institute of Finance, Plot 4, Community Centre, Ashok Vihar, Phase-II, Delhi-110052 through registered post or speed post.

Eligibility

Graduation in any discipline from a recognised university, preferably with a minimum of 60 per cent marks. Final year candidates are also eligible to apply.

Entrance exam

Admission is through a written test like XAT (60 per cent), AIMAT-MAT (600) or GMAT/GRE (1400). Candidates who qualify are called for the group discussion (GD) and an interview. They are graded on past academic records, work experience, professional growth and their performance in the personal interview.

NRI, foreign or corporate sponsored candidates are exempt from the written test. However, all such candidates are required to appear for the GD and interview.

Pattern of exam

XAT consists of a two-hour, multiple-choice test, followed by an essay test of 20 minutes duration. The first part has objective-type questions on mathematical reasoning, data interpretation, verbal reasoning, English comprehension and general knowledge. There are questions on labour law as well.

How to prepare

To tackle the section on English, you need to have read a wide range of books. Practise the mantra of reading at least “a paper a day, a magazine a week, a book a month”. Consult the civil services guide of Tata McGraw Hill and the Pearsons GK Guide for the section on GK.

Quantitative aptitude and reasoning requires an understanding of concepts along with the ability to calculate quickly. You could prepare from Quantitative Aptitude by Abhijit Guha or How to Prepare for GMAT and CAT by Tata McGraw Hill. It is essential that you start preparations for XAT well in advance.