What is CFA® Exam?
Exam based on finance conducted by CFA® institute (www.cfainstitute.org)
The Chartered Financial Analyst Program, administered by CFA® institute, USA offers a graduate level curriculum and examination program designed to expand your working knowledge and practical skills related to investment decision making. Each of the CFA® programs three levels builds on the preceding one & each concludes with a full day (six hour) examination. Candidates must pass each examination before advancing to the next higher level but are permitted to repeat an examination if they fail to pass.
Guidelines for Registering
Before you enroll in the CFA® Program and register for your Level I exam
Have A Bachelor’s (Or Equivalent) Degree
- Or be in the final year of your bachelor’s degree program at the time of registration.
- Or have four years of qualified, professional work experience.
- Or have a combination of work and college experience that totals at least four years (Note: Summer, part-time, and internship positions do not qualify).
- If you initially enroll / register as a final year undergraduate student with a degree in progress, you must update your account education information prior to Level II registration. Valid international travel passport (required for enrollment and exam registration).
- Minimum time to pass all three Levels: 1.5 years.
- Average time: 4 years.
- Recommended 250 Hrs of study for each exam level.
CFA® charter holder membership requirements include but not limited to 48 months of acceptable professional work experience and passing the Level I, Level II, and Level III exams.
- The exam is structured as 3 Levels: Level I, II and III. Level I Exam is conducted twice every year in June and December. Level I and III Exams are conducted only once every year in June every year.
- Exam format: Level I & II are completely multiple choice. Level III has one written paper and one paper which is multiple choice.
|Level||Type of Questions||Number of Questions||Duration of the Exam|
|I||Multiple Choice||240||2 Exams of 3 Hrs Each|
|II||Multiple Choice vignette Style||120||2 Exams of 3 Hrs Each|
|III||50% essay type, 50% multiple choice||60||2 Exams of 3 Hrs Each|
Note: From 2021 onwards CFA® L 1 exam will be conducted online in two sessions having 90 questions in each session
SUBJECT WISE WEIGHTAGE (Figures in percentage)
|Topic Area||Level I||Level II||Level III|
|Ethical and Professional Standards||15||10 – 15||10 – 15|
|Quantitative Methods||10||5 – 10||0|
|Economics||10||5 – 10||5 – 10|
|Financial Reporting and Analysis||15||10 – 15||0|
|Corporate Finance||10||5 – 10||0|
|Equity Investments||11||10 – 15||10 – 15|
|Fixed Income||11||10 – 15||15 – 20|
|Derivatives||6||5 – 10||5 – 10|
|Alternative Investments||6||5 – 10||5 – 10|
|Portfolio Management||6||5 – 15||35 – 40|
|Particulars||Level I||Level II||Level III|
|Exam Date(s)||June, December||June||June|
|Morning Session (9am to 12noon)||120 MCQ||10 Item Sets||12/15 Essays|
|Afternoon Session (2pm to 5pm)||120 MCQ||10 Item Sets||10 Item Sets|
|Exam Result(s)||July, January||July||August|
|Global Past Pass Percentage||40 – 44%||44 – 48%||50 – 54%|
EXAM FEES AND REGISTRATION DATE
|Program Enrollment Fees||$450|
|December exam (level I)||FEES||Last date|
|June exam (level I,II,III)||FEES||Last date|
Top 10 Employers of CFA® Charter holders (Global Vs India)
|Bank of America||Citigroup|
|Credit Suisse||Edelweiss Capital|
|Deutsche Bank||FMR Corp.|
|JP Morgan Chase||HDFC|
|Wells Fargo||Morgan Stanley|