CIPMA Program - Eligibility Standards 



The Bylaws of the National Association of Municipal Advisors (“NAMA”) enable the Board of Directors (the “Board”) to establish procedures by which individual professional employees of Firm Members can achieve the designation of Certified Independent Professional Municipal Advisor (“CIPMA”).  This document outlines the eligibility standards for certification as adopted by the Board on October 8, 2009. 

1)   CIPMA designation may be achieved by individuals that:

a)   Are currently, and have been, employed by a Firm Member for not less than two years, and work not less than seventy-five percent of the Firm Member’s basic schedule for full-time professional employees,

b)   Have continuously performed financial advisory services for state and local governments for a period of not less than two years,

c)    Have either obtained a Bachelor’s degree from an accredited institution of higher education or been engaged in a professional capacity in the field of public finance for a period totaling not less than six years, and

d)   Have met other currently applicable membership eligibility standards as established herein.

2)   CIPMA designation will only be granted to individuals that have received a passing score on the certification examination administered by the NAMA Standards, Ethics, and Certification Committee (the “Committee”).  The Committee is designated by the Board to be solely responsible for the development of the NAMA Certification Test and the establishment of the standards for passage of the test.  Individuals that are unsuccessful taking the NAMA Certification Test will not be permitted to retest for a period of six months from the date of failure.

3)   To maintain the CIPMA designation and the right to use same, individuals who initially qualify for the CIPMA designation must demonstrate compliance with NAMA’s Continuing Education Requirements, the Code of Professional Conduct and Ethics, and the policies of NAMA as established by the Board from time to time.  Upon determination of a failure to do so by the Committee, the individual will be notified in writing of the specific failure, the action to cure and the time by which the remedy must occur.  Continued failure to comply will result in written notification of decertification to the individual and the Member Firm’s designated NAMA representative.  Actions of the Committee in these regards may be appealed to the Board for review at the individual’s initiative for a period of 60 days after the date of written notification.


4)   Application for CIPMA designation will implicitly include affirmation that the individual agrees to no longer directly or indirectly represent herself or himself as a Certified Independent Professional Municipal Advisor or “CIPMA” upon notification to said individual by the National Association of Public Municipal Advisors that they no longer meet the then applicable qualifications established by the Board and/or the Standards, Ethics, and Certification Committee as its designee.