Introduction
CFA, also known as Chartered Financial Analyst, one of the most sought after course for candidates aspiring a career in finance. CFA is a professional degree awarded by the CFA Institute. They are hired across various fields such as Portfolio Management, Consulting, and Risk Management, etc. This course offers glorious opportunities in the field of finance.
Eligibility
Anyone of the following criteria has to be met by the candidate to be eligible to sit in the examinations:
A Bachelor’s degree from a renowned university
An undergraduate degree before applying for CFA level 2
A combination of 4000 hours of professional work experience and higher education
Professional work experience need not be investment-related, they could also be paid articleship or internship
Live in a participating country and have an international passport
The candidate needs to fill up and submit a Professional Conduct Statement form.
To be in the final year of graduation at the time of appearing in the CFA level 1 exam.
Professional work experience need not be investment-related, they could also be paid articleship or internship/or work experience (letter of employment, salary slips, any other relevant documents) to be submitted at any point of the learning duration of the candidate.
Exam Syllabus
The CFA course curriculum comprises the following 10 topics, further split into their corresponding sub-topics as mentioned below:
CFA Level 1
CFA Syllabus Level 1 | Weightage |
Ethical and Professional Standards | 15-20% |
Quantitative Methods | 8-12% |
Economics | 8-12% |
Financial Statement Analysis | 13-17% |
Corporate Finance | 8-12% |
Equity Investments | 10-12% |
Fixed Income | 10-12% |
Derivatives | 5-8% |
Alternative Investments | 5-8% |
Portfolio Management and Wealth Planning | 5-8% |
CFA Level 2
CFA Syllabus Level 2 | Weightage |
Fixed Income | 10-15% |
Derivatives | 5-10% |
Alternative Investments | 5-10% |
Portfolio Management and Wealth Planning | 10-15% |
Ethical and Professional Standards | 10-15% |
Quantitative Methods | 5-10% |
Economics | 5-10% |
Financial Statement Analysis | 10-15% |
Corporate Finance | 5-10% |
Equity Investments | 10-15% |
CFA Level 3
CFA Syllabus Level 3 | Weightage |
Ethical and Professional Standards | 10-15% |
Quantitative Methods | 0% |
Economics | 5-10% |
Financial Statement Analysis | 0% |
Corporate Finance | 0% |
Equity Investments | 10-15% |
Derivatives | 5-10% |
Alternative Investments | 5-10% |
Fixed Income | 15-20% |
Portfolio Management and Wealth Planning | 35-40% |
Exam Fees
A breakdown of the CFA course curriculum fees:
Program Enrolment Fee | $350 (for first-time exam registrants only) |
Early Registration Fee | $900 |
Standard Registration Fee | $1200 |
Rescheduling Fee | $250 |
CFA Charter holder
Steps to be taken to get awarded with CFA Charter:
Pass CFA Exams - Passing the exam for all three levels is a requirement to obtain the CFA charter.
Achieve Qualified Work Experience - Completing work experience requirements before, during, or after participation in CFA Program. The experience of the candidate must be directly involved with the investment decision-making process or producing a work product that informs or adds value to that process.
Submit Reference letters - In support of the membership application, the candidate will need to provide 2-3 professional references. References will be asked to comment on the work experience and professional character of the candidate.
Apply to become a Charterholder - Apply to become a regular member of CFA Institute. Once the application is approved and the candidate has joined CFA Institute, the candidate will have earned the CFA Charter.
Exam Structure and Duration
CFA Level 1:
CFA level 1 consists of 2 sessions of 135 minutes each on the same day.
Total of 180 MCQs are asked in 2 different sessions, 90 in each session.
CFA Level 2:
The level 2 exam consists of 22 item sets comprised of vignettes with 88 accompanying MCQs and the duration is of 2 hours and 12 minutes of each session and a total of 2 sessions, with an optional break in between.
CFA Level 3:
The level 3 exam consists of item sets comprised of vignettes with accompanying MCQs and constructed response (essay) questions.
All the questions are to be answered based on the information in the vignette. Hence, the items are not free-standing, as in the CFA Level 1 exam. The duration of the level 3 exam is 4 hours and 24 minutes, split into two sessions of 2 hours and 12 minutes, with an optional break in between.
CFA Course Scholarships
Access Scholarship
The Access Scholarship CFA Program is designed for students who cannot afford the CFA program fees. With this scholarship, the candidate only needs to pay a balance $250
How to avail this CFA scholarship: To avail this scholarship you will be expected to submit and state all of your financials, for example: family income and the current assets of your family. Additionally, you need to write an essay which states why you as a candidate deserve this scholarship.
Women’s Scholarship
Professor Scholarship
Regulator Scholarship
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