Top 11 Bursar Certifications

Certifications for bursars are critical in the job market because they demonstrate a level of professional knowledge and expertise that employers value. A bursar who has certifications is seen as having a higher level of competency and can be trusted to handle important financial responsibilities. Certifications also make it easier for employers to identify qualified candidates, since they are proof of the candidate’s qualifications. Additionally, certifications often come with continuing education requirements that ensure that bursars stay up-to-date on best practices and industry trends. With these qualifications, bursars can be more competitive in the job market and have an advantage over those without certifications when applying for positions.

This article reviews some of the top certifications for Bursars and explains how they can help to advance a bursar's career.

What are Bursar Certifications?

Bursar certification is a process in which a school's bursar (fiscal officer) verifies the amount of money that a student has paid for tuition, fees, and other charges associated with attending college. This type of certification is often required when applying for financial aid or scholarships, as it helps to demonstrate that a student has met the necessary financial responsibilities associated with their education. By providing evidence of payment, bursar certification can help give students access to additional sources of funding that may be available to them. Additionally, this type of certification can also be used to show that a student has met any outstanding obligations related to their education, such as unpaid tuition or fees. Bursar certification can ultimately provide students with greater access to resources and opportunities that would otherwise not be available to them.

Pro Tip: Take the time to research and understand the requirements for bursar certification before applying. This will help ensure that you are meeting all of the necessary criteria and provide a better chance of success.

Related: What does a Bursar do?

Top 11 Bursar Certifications

Here’s our list of the best certifications available to Bursars today.

1. Certified Professional Bursar (CPB)

Certified Professional Bursar (CPB) is a professional certification program offered by the National Association of College and University Business Officers (NACUBO). It is designed to recognize bursars who have achieved a high level of proficiency in their field. The CPB certification is based on knowledge, experience, and commitment to professional development.

To become certified, applicants must meet certain educational and experience requirements and pass an exam. Applicants must have at least a bachelor’s degree in business or accounting, three years of full-time bursar experience, and completion of NACUBO’s Bursar Certification Program.

The exam consists of multiple-choice questions covering topics such as budgeting, financial aid administration, student accounts receivable/payable management, and other related topics. The exam takes about three hours to complete.

The cost for the CPB certification program varies depending on whether the applicant is a member or non-member of NACUBO. For members, the cost is $295; for non-members it is $395.

2. Certified Treasury Professional (CTP)

Certified Treasury Professional (CTP) is a professional certification program offered by the Association for Financial Professionals (AFP). It is designed to recognize professionals who have achieved a high level of expertise in the field of treasury management. The CTP certification demonstrates that an individual has attained a comprehensive understanding of the principles and practices of corporate treasury, including cash management, risk management, investments, financial analysis and planning, and international finance.

In order to become certified, individuals must pass a three-hour examination that tests their knowledge of treasury topics. The exam consists of 150 multiple-choice questions covering topics such as cash flow forecasting, capital markets instruments and operations, financial analysis techniques, international treasury operations and risk management strategies.

The CTP certification program requires applicants to have at least two years of professional experience in the treasury field. Applicants must also complete an online application form and submit it along with payment for the exam fee. The exam fee is $395 for AFP members or $495 for non-members.

Once an applicant passes the examination they will receive their CTP designation and will be eligible to use the CTP designation after their name on business cards, resumes and other documents. The CTP designation must be renewed every three years by completing continuing education courses related to treasury topics or passing a recertification exam.

3. Certified Public Accountant (CPA)

A Certified Public Accountant (CPA) is a professional designation given to individuals who have passed the Uniform CPA Examination, met additional state education and experience requirements for certification, and have been certified by their state’s board of accountancy. CPAs are qualified to provide a wide range of accounting services including auditing, taxation, financial planning, consulting and management advisory services.

It typically takes four years to become a CPA. The first step is to complete an undergraduate degree in accounting or a related field from an accredited college or university. After completing the degree program, candidates must pass the Uniform CPA Exam administered by the American Institute of Certified Public Accountants (AICPA). Once the exam has been passed, applicants must meet any additional educational requirements set forth by their state’s board of accountancy in order to be licensed as a CPA.

The cost of becoming a CPA varies depending on the individual's state of residence and other factors such as study materials used for preparation for the exam. Generally speaking, it can cost anywhere from $1,000 - $2,500 in total fees associated with taking and passing the exam.

4. Certified Financial Manager (CFM)

Certified Financial Manager (CFM) is a professional certification that demonstrates the holder’s expertise in financial management. The CFM credential is offered by the Institute of Certified Financial Managers (ICFM). It is a globally recognized certification that provides assurance to employers and clients that the holder has met the highest standards of professional competence in financial management.

It takes approximately one year to complete the requirements for the CFM designation. To become certified, applicants must successfully pass an exam administered by ICFM, complete a minimum of two years of relevant work experience, and submit a portfolio demonstrating their knowledge and skills.

The cost for taking the CFM exam varies depending on which country you are taking it in. In the United States, it costs $395 USD to take the exam. Additionally, there is an annual fee of $100 USD to maintain your certification status.

5. Chartered Financial Analyst (CFA)

Chartered Financial Analyst (CFA) is a professional designation given by the CFA Institute, a global association of investment professionals. It is widely recognized as one of the most prestigious credentials in the financial services industry. The CFA Program is designed to provide a comprehensive understanding of investment analysis and portfolio management, along with ethical and professional standards for global finance professionals.

The CFA Program consists of three levels, each with its own set of exams and requirements. Level I focuses on basic knowledge of investments, Level II focuses on asset valuation, and Level III focuses on portfolio management. Candidates must pass all three levels in order to become a Chartered Financial Analyst (CFA).

It typically takes four to five years to complete the CFA Program. Candidates must have at least four years of professional experience in finance or a related field before they can take the Level III exam.

To get started, candidates must register with the CFA Institute and pay an enrollment fee. After registering, candidates will receive access to study materials, practice tests, and other resources that can help them prepare for the exams. They will also need to pay an exam registration fee for each level they plan to take.

The cost of taking all three levels of the CFA Program varies depending on where you live and how you choose to study. Generally speaking, it can cost anywhere from $3,000-$5,000 USD for all three levels combined.

6. Certified Management Accountant (CMA)

Certified Management Accountant (CMA) is a professional certification issued by the Institute of Management Accountants (IMA). The CMA designation is designed to recognize professionals who demonstrate mastery in financial planning, analysis, control, decision support and professional ethics.

To become certified as a CMA, individuals must pass two exams administered by the IMA. The first exam covers financial planning, performance and control; the second exam covers financial decision making. Both exams are four hours long and consist of multiple-choice questions.

The cost to take each exam varies depending on your IMA membership status. For non-members, the fee for each exam is $415 USD; for members, it’s $350 USD per exam. In addition to the exam fees, there is also an application fee of $50 USD that must be paid when you submit your application to take the exams.

In total, it typically takes between 6 months and 1 year to become certified as a CMA. This includes studying for both exams and taking them within 18 months of each other. After passing both exams and paying all applicable fees, you will receive your official CMA certification from the IMA.

7. Certified Internal Auditor (CIA)

Certified Internal Auditor (CIA) is a professional certification offered by the Institute of Internal Auditors (IIA). It is designed to demonstrate an individual’s knowledge and proficiency in the field of internal auditing. The CIA designation is widely recognized as the premier certification for internal auditors, and it is highly sought after by employers.

In order to become certified as a CIA, applicants must have a minimum of a bachelor’s degree from an accredited college or university and a minimum of two years of professional experience in internal auditing, control, or related areas. Applicants must also pass three comprehensive exams administered by the IIA. The exams cover topics such as risk management, governance and assurance services, information technology, and financial management.

The process of becoming certified as a CIA typically takes between six months and one year to complete. During this time, applicants must complete all three exams within 18 months in order to maintain their eligibility for certification.

The cost for becoming certified as a CIA varies depending on the country where you are located. In the United States, the cost for taking all three exams is approximately $1,000 USD plus additional fees for study materials and registration fees. In other countries, costs may vary significantly due to currency exchange rates and other factors.

8. Certified Fraud Examiner (CFE)

Certified Fraud Examiner (CFE) is a professional certification offered by the Association of Certified Fraud Examiners (ACFE). The CFE credential is the highest level of certification available in the field of fraud examination and is recognized around the world as an indication of expertise in fraud prevention, detection, and deterrence.

To become a CFE, candidates must have at least two years of professional experience in fraud examination or related fields such as auditing, accounting, law enforcement, or financial services. Candidates must also complete a comprehensive four-part exam that covers topics such as investigation techniques, law and ethics, financial transactions and fraud schemes.

The entire process to become a CFE can take anywhere from six months to one year depending on how quickly you are able to complete all requirements.

In order to get started with the CFE process, you must first register with the ACFE and pay an application fee. The cost for registering for the CFE exam is $450 USD for members of ACFE and $550 USD for non-members. Once registered, you will receive access to study materials which include online courses and practice exams that will help you prepare for the exam. After passing all four parts of the exam, you will be awarded your CFE credential.

9. Chartered Global Management Accountant (CGMA)

Chartered Global Management Accountant (CGMA) is a professional designation awarded by the American Institute of Certified Public Accountants (AICPA) and the Chartered Institute of Management Accountants (CIMA). It is designed to recognize individuals who have demonstrated expertise in management accounting, financial management, strategic decision-making and business performance.

To become a CGMA, you must first pass the AICPA's Uniform CPA Examination. This exam consists of four sections: Auditing and Attestation, Business Environment and Concepts, Financial Accounting and Reporting, and Regulation. The exam takes approximately 16 hours to complete. Once you have passed the exam, you will need to meet additional requirements set by the AICPA. These include completing at least two years of professional experience in management accounting or financial management roles; having an undergraduate degree from an accredited college or university; passing an ethics examination; and completing continuing professional education courses related to management accounting or financial management topics.

Once these requirements are met, you can apply for CGMA certification through the AICPA website. The cost of applying for CGMA certification is $250 USD. After your application is approved, you will be required to pay an annual fee of $95 USD to maintain your certification status.

Overall, it typically takes between 6-12 months to become a CGMA depending on how quickly you complete all of the required steps.

10. Financial Risk Manager (FRM)

Financial Risk Manager (FRM) is a professional certification offered by the Global Association of Risk Professionals (GARP). It is designed to help professionals understand and manage financial risks in their organization. The FRM certification is widely recognized as the industry standard for risk management in banking, insurance, investment management, and other financial services industries.

The FRM exam consists of two parts: Part I and Part II. Part I covers foundational topics such as quantitative analysis, financial markets and products, valuation and risk models, and current issues in financial markets. Part II covers advanced topics such as credit risk measurement and management, market risk measurement and management, operational risk measurement and management, investment risk measurement and management, liquidity risk measurement and management, enterprise risk management, derivatives pricing models, counterparty credit risk modeling, structured finance products valuation techniques, portfolio optimization techniques among others.

It takes approximately six months to one year to prepare for the FRM exam depending on the individual's background knowledge. GARP also offers various study materials such as textbooks written by GARP-approved authors; practice exams; online courses; webinars; instructor-led classes; self-study guides; review sessions; etc., which can help candidates prepare for the exam.

The cost of the FRM Exam registration fee is $850 USD plus applicable taxes per part. Additionally there are fees associated with study materials purchased from GARP or other sources.

11. Certified Government Financial Manager (CGFM).

Certified Government Financial Manager (CGFM) is a certification offered by the Association of Government Accountants (AGA). It is designed to recognize and validate the professional knowledge and experience of those who manage, supervise, or are involved in government financial management. The CGFM designation demonstrates that an individual has achieved a level of proficiency in government finance knowledge, practices, and principles.

To obtain the CGFM designation, an individual must pass three examinations: Governmental Environment, Governmental Accounting & Financial Reporting, and Governmental Financial Management & Control. These exams are administered by Prometric Testing Centers throughout the United States. Each exam consists of 100 multiple-choice questions and must be completed within two hours.

The cost for the CGFM program varies depending on how many exams you take at once. Each exam costs $200 when taken individually or $400 when taken as part of a package with all three exams. In addition to the exam fee, there is also an annual membership fee of $50 to maintain your certification status.

It typically takes between 6-12 months to complete all three exams and become certified as a CGFM. However, this timeline can vary depending on how quickly you study for each exam and how quickly you can schedule your testing appointment at a Prometric Testing Center.

Do You Really Need a Bursar Certificate?

The answer to this question depends on the individual and their situation. Bursar certificates are documents that are issued by universities and colleges to prove a student’s financial status or ability to pay for tuition fees. In some cases, they may be required by employers or other organizations in order to assess an individual’s financial circumstances.

For those who are applying for college, bursar certificates can be important if the college is assessing a student’s ability to pay for tuition fees. The certificate will demonstrate that the student has sufficient funds available to cover all costs associated with their studies. Additionally, some universities may require bursar certificates as part of the admissions process, so it is important for applicants to have one ready if necessary.

Those who are applying for jobs may also find that having a bursar certificate can be beneficial. Employers may use the document to assess an individual’s financial stability before making a job offer. It can also help provide evidence of good money management skills, which can be attractive qualities in potential employees.

In short, whether or not you need a bursar certificate will depend on your specific circumstances and what you are applying for. If you are unsure whether you need one, it is best to check with the relevant organization beforehand so that you know exactly what documents they require from you.

Related: Bursar Resume Examples

FAQs About Bursar Certifications

Q1. What is a Bursar Certification?

A1. A Bursar Certification is an official document issued by the university’s bursar office that confirms a student’s enrollment and financial obligations to the school. It can be used as proof of enrollment for various purposes, such as applying for scholarships, loans, or other forms of financial aid.

Q2. How do I get a Bursar Certification?

A2. You can obtain a Bursar Certification by submitting a request to the bursar's office at your college or university. The request must include your name, student ID number, and any other relevant information that may be required.

Q3. What information does a Bursar Certification include?

A3. A Bursar Certification typically includes information about your current enrollment status, tuition charges, fees due, and any unpaid balances owed to the school. It also includes your academic program and any scholarships or financial aid you have received from the university.

Q4. How long is a Bursar Certification valid?

A4. The validity of a Bursar Certification varies depending on the institution issuing it; however, most are only valid for one year from the date of issue unless otherwise noted on the certification itself or in accompanying documents from the bursary office.

Q5. Do I need to renew my Bursar Certification each year?

A5. Yes, you should renew your certification each year if you intend to use it for applications or other purposes requiring proof of enrollment and/or financial obligation to your school