This is your Complete guide to CFA Exam
Everything you need to know about CFA!
About CFA Exam:
- CFA stands for Chartered Financial Analyst. CFA is a 70-year-old professional designation, which is considered as one of the most respected professions of investment management.
- It is recognised in more than 165 countries, and considered as the golden standard in the world of finance.
- The CFA exam is a three-part exam that tests the fundamentals of investment tools, valuing assets, portfolio management, and wealth planning. Candidates pursuing this course, gain in-depth knowledge of the finance and investment industry.
3 Levels of CFA
The CFA exam has three levels. Each Candidate gets six attempts per exam level. They are allowed to take two exams per calendar year but not in consecutive windows or windows that are less than six months apart.
CFA Level 1
Knowledge and Comprehension
- CFA Level 1 exam takes place 4 times a year in February, May, August, and November.
- The questions paper has 135 multiple-choice questions divided into two equal sessions.
- The total duration of the exam is 4.5 hours, which takes place in two splits of 2.25 hours each session on the same day. There is no negative marking in this exam.
CFA Level 2
Application and Analysis
- CFA Level 2 exam takes place 3 times a year in May, August, and November.
- CFA Level II exam has 11 item sets for each session, from a total of 22. Twenty are scored, and two are questions we are trialling that will not be scored.
- The total duration of the exam is 4 hours and 24 minutes, which takes place in two equal sessions of 2 hours and 12 minutes, with an optional break in-between.
CFA Level 3
Synthesis and Evaluation
- CFA Level 3 exam takes place 2 times a year in February, and August.
- The CFA Level 3 exam has vignette-supported essay sets that have items with three different methods of entering a response: essay, numerical entry, and multiple choice.
- The total duration of the exam is 4.5 hours, which takes place in two splits of 2.25 hours for each session on the same day. There is no negative marking in this exam.
If you clear all the levels of CFA in the 1st attempt you can clear CFA in 2.5 -3.5 years after completing college.
CFA Eligibility
- The candidate must have a bachelor’s (or equivalent) degree, or your exam window must be within 23 months of your graduation month. Candidates may sit for Level 1 exams while they are studying in colleges but not for Level II until they finish their degree (but they can register for the exam prior to graduation).
- As an alternative option for educational qualifications, you may fulfill the entrance requirements with 4,000 hours of qualified, professional work experience or a combination of work experience and education that is accrued over a minimum of 36 months.
- The candidate must meet the professional conduct admission criteria.
- The candidate must have a valid international travel passport.
Why you should Choose CFA Course by
Positive Alpha
- 320-350 Hours Classroom Training
- Official CFAI material
- Subject Wise Revision Lectures
- 100% Full time dedicated Teachers
- Free Demo
- Subject Wise Payment option available
4 Steps to become a CFA
1
Pass 3 levels
of CFA exam
You must pass all 3 level exams of CFA
2
4,000+ hours work experience
You must have a work experience of 4000 hours completed within a minimum time period of 36 months.
3
2-3 minimum professional reference
In order to support your membership application, you need 2-3 professional recommendations.
4
Apply for CFA charter
I want to join your CFA course
Syllabus of CFA exam
Level 1:
- Ethical and Professional Standards (15-20%)
- Quantitative Methods (8-12%)
- Economics (8-12%)
- Financial Statement Analysis (13-17%)
- Corporate Issuers (8-12%)
- Portfolio Management (5-8%)
- Equity Investments (10-12%)
- Fixed Income (10-12%)
- Derivatives (5-8%)
- Alternative Investments (5-8%)
Level 2:
- Quantitative Methods (5-10%)
- Economics (5-10%)
- Financial Statement Analysis (10-15%)
- Corporate Issuers(5-10%)
- Equity Investments (10-15%)
- Fixed Income(10-15%)
- Derivatives (5-10%)
- Alternative Investments (5-10%)
- Portfolio Management and (10-15%)
- Ethical and Professional Standards (10-15%)
Level 3:
- Portfolio Management and Wealth Planning (35-40%)
- Fixed Income (15-20%)
- Ethical and Professional Standards (10-15%)
- Equity Investments (10-15%)
- Economics (5-10%)
- Derivatives (5-10%)
- Alternative Investments (5-10%)
- Financial Statement Analysis (0%)
- Corporate Finance (0%)
- Quantitative Methods (0%)
Exam Fees
The exam enrolment fees varies, based on when your date of registration
Early Bird
$900
Standard Registration
$1200
Rescheduling Fee
$250
*One time registration fees – $350 (Only taken at CFA L1)
Who Should Pursue The CFA Course?
Though anyone who fulfills the basic criteria can appear for the exam, but if you fall in these categories, CFA certification is recommendable to you:
Academician
Investment Industry Professionals
Fresh graduates
Management Professional (MBAs)
FAQ's
→ Yes , Jobs as a Research Analyst/ Derivatives Analyst / P&L Analyst are suitable. Further, it depends on undergrad + other relevant skills such as Financial Modelling.
→ CFA L2 is often considered to the toughest hurdle of the CFA program. It digs deep into every concept studied at L1, exposing any weaknesses or loopholes in a specific topic. At Positive Alpha, we ensure a quality foundation at CFA L1 for CFA L2 & L3.
→ We would provide a session on basic accounting (optional session), which would help the engineers and non-commerce background students to grasp the basics of accounting.
→ No, there is no sectional cutoff or negative marking. Only total marks are evaluated.
