Large Language Models (LLMs) have demonstrated remarkable performance on a
wide range of Natural Language Processing (NLP) tasks, often matching or even
beating state-of-the-art task-specific models. This study aims at assessing the
financial reasoning capabilities of LLMs. We leverage mock exam questions of
the Chartered Financial Analyst (CFA) Program to conduct a comprehensive
evaluation of ChatGPT and GPT-4 in financial analysis, considering Zero-Shot
(ZS), Chain-of-Thought (CoT), and Few-Shot (FS) scenarios. We present an
in-depth analysis of the models' performance and limitations, and estimate
whether they would have a chance at passing the CFA exams. Finally, we outline
insights into potential strategies and improvements to enhance the
applicability of LLMs in finance. In this perspective, we hope this work paves
the way for future studies to continue enhancing LLMs for financial reasoning
through rigorous evaluation.

大型语言模型在自然语言处理任务中表现出色，我们通过对 Chartered Financial Analyst (CFA) 考试模拟试题的全面评估，考察 ChatGPT 和 GPT-4 在金融分析方面的理解能力，包括零编程、连续思路和少量编程等场景的性能评估和限制，进而估计它们通过 CFA 考试的可能性，并提出改进策略以增强大型语言模型在金融领域的适应性。我们希望这项研究为继续改进金融推理方面的大型语言模型奠定了基础。