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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

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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

  • Risk manager

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 

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How do I enter the CFA® Program?

  • A bachelor's (or equivalent) degree or 24 months before bachelor's degree program OR four years of professional work experience (does not have to be investment related)

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Becoming a CFA® Charterholder

  • Pass all three levels of exam

  • Accrued (before or after the exam) a total of 36 months of relevant work experiences

  • Submit 2-3 sponsor statements

  • Join CFA Institute as a Regular Member

Computer-based Exam

Level I

  • Session 1: A total of 90 MC questions

  • Session 2: A total of 90 MC questions

Level II

  • Session 1: 11 item sets, total 44 MC questions

  • Session 2: 11 item sets, total 44 MC questions

Level III

  • Session 1: 5/6 essay-type or item sets questions

  • Session 2: 5/6 essay-type or item sets questions

Fees

Enrollment fee (for Level I new candidates only)

  • US$350​

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Exam registration fee

  • US$900 (early) or US$1,200 (standard)​

Topic Area Weights

                                                                 Level I       Level II      Level III

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

Quantitative Methods                                  6-9%          5-10%          -

Economics                                                  6-9%          5-10%       5-10%

Financial Statement Analysis                        11-14%       10-15%         -

Corporate Issuers                                        6-9%           5-10%          -

Equity Investments                                      11-14%      10-15%     10-15%

Fixed Income                                              11-14%      10-15%     15-20%

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

Alternative Investments                                 7-10%       5-10%      5-10%

Portfolio Management & Wealth Planning       9-12%       5-15%      35-40%

Total                                                            100%         100%       100%

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