About CFA® Program

For the most up-to-date information about the CFA Program, please refer to the official website at https://www.cfainstitute.org/programs/cfa

Gold Standard - The CFA charter equips you not only to enter the profession, but also to excel at all stages of your career

What do CFA® charterholders do in real world?

According to CFA Institute website, the top five global chaterholder roles are portfolio manager, research analyst, Chief Level Executive, consultant and risk manager.

(https://www.cfainstitute.org/-/media/documents/factsheet/cfa-charter-factsheet.ashx)

CFA® Program overview

  • The CFA designation is recognized widely by employers globally

  • Aim at fluency in practical investment analysis skills

  • Consists of three levels of examinations

  • Level I exam is offered four times a year

  • Level II & III exam are offered twice a year 

How do I enter the CFA® Program?

  • A bachelor's (or equivalent) degree or be in the final year of you bachelor's degree program OR four years of professional work experience (does not have to be investment related) OR a combination of the above that totals at least four years that accrued prior to enrollment.

  • Register directly at CFA Institute official website (www.cfainstitute.org)

Becoming a CFA® Charterholder

  • Pass all three levels of exam

  • Accrued (before or after the exam) a total of 48 months of relevant work experiences

  • Submit 2-3 sponsor statements

  • Join CFA institute as a Regular Member

Exam format

(Computer-based starting from 2021)

LEVEL I

  • Session 1: A total of 90 MC questions

  • Session 2: A total of 90 MC questions

LEVEL II

  • 20-22 item sets, each with 4-6 MC questions

LEVEL III

  • 8-14 constructed response questions AND

  • 10-11 item sets, each with 4-6 MC questions

Fees

Enrollment fee (for Level I new candidates only)

  • US$450

Exam registration fee

  • US$700 (early) or

  • US$1,000 (standard)

* the fees cover the official curriculum (e-book & pdf), online practice questions and mock exams

Topic Area Weights

                                                                 Level I       Level II      Level III

Ethical & Professional Standards                  15-20%       10-15%     10-15%

Quantitative Methods                                  8-12%         5-10%          -

Economics                                                  8-12%         5-10%       5-10%

Financial Reporting & Analysis                      13-17%       10-15%         -

Corporate Finance                                       8-12%         5-10%          -

Equity Investments                                      10-12%      10-15%     10-15%

Fixed Income                                              10-12%      10-15%     15-20%

Derivatives                                                   5-8%         5-10%      5-10%

Alternative Investments                                 5-8%         5-10%      5-10%

Portfolio Management & Wealth Planning       5-8%         5-15%      35-40%

Total                                                            100%         100%       100%

CFA Institute required disclosure: CFA Institute does not endorse, promote, or warrant the accuracy or quality of the products or services offered by HKITI. CFA® are trademarks owned by CFA Institute.

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