CFA® Program
- Administered by CFA Institute, USA
- Minimum time to pass all three exams: 1.5 years
- Average time: 4 years
- Recommended 250 Hrs of study for each exam level
- CFA® charterholder 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.
Benefits of CFA® designation
- Most recognized global designation for finance professional in the world
- CFA are regarded as an expert in finance by clients, recruiters and employers
- Especially useful in Investment Banking, Portfolio Management, Investment Research and Security Analysis
Structure of the Exam
Level I exam is available in June and December each year. Level II and III exams are available in June each year.
The recommended preparation time is 250 hours for each level.
| Level | Style of Questions | Number of Questions | Duration of the exam |
|---|---|---|---|
| I | Multiple Choice | 240 | 6 hrs |
| II | Multiple choice vignette style | 120 | 6 hrs |
| III | 50% essay type, 50% multiple choice | 60 | 6 hrs |
| Topic Area | Level I | Level II | Level III |
|---|---|---|---|
| Ethical and Professional Standards (total) | 15 | 10 | 10 |
| Quantitative Methods | 12 | 5-10 | 0 |
| Economics | 10 | 5-10 | 0 |
| Financial Reporting and Analysis | 20 | 15-25 | 0 |
| Corporate Finance | 8 | 5-15 | 0 |
| Investment Tools (total) | 50 | 30-60 | 0 |
| Equity Investments | 10 | 20-30 | 5-15 |
| Fixed Income | 12 | 5-15 | 10-20 |
| Derivatives | 5 | 5-15 | 5-15 |
| Alternative Investments | 3 | 5-15 | 5-15 |
| Asset Classes (total) | 30 | 35-75 | 35-45 |
| Portfolio Management and Wealth Planning (total) | 5 | 5-15 | 45-55 |
| Total | 100 | 100 | 100 |
Certification Fee
Levels I, II, and III : Fee (program enrollment+ exam registration) varies from $1020 - $1435, with lower fee for early registrations. Returning candidates do not need to pay the program enrollment fee.
Dec 2010 CFA Exam Level I
*A candidate pays the Program enrollment fees only once.
**The exam registration fees also include the complete curriculum and one mock exam per level.
...For More information please visit CFA Institute Website & Fees page on CFA Institute website | Payment deadlines | Program enrollment (new candidates only)* | + | Exam registration** | = | Total cost |
|---|---|---|---|---|---|
| 17 Mar 2010: | $400 | + | $620 | = | $1020 |
| 24 Aug 2010: | $400 | + | $710 | = | $1110 |
| 15 Sep 2010: | $480 | + | $955 | = | $1435 |
**The exam registration fees also include the complete curriculum and one mock exam per level.
