CFA Level I, II & III

What is CFA Charter?


Since it was first introduced in 1963, the Chartered Financial Analyst designation, or CFA charter, has become the most respected and recognized investment credential in the world. Earning the CFA charter demonstrates mastery of the skills most needed for investment analysis and decision making in today's fast-evolving global financial industry. That's why employers and clients around the world are increasingly seeking out CFA charterholders-often making the charter a prerequisite for employment. 

The Program is designed for self-study, distance learning, but you can also enroll in preparatory classes. This means that you won't have to leave your current position or interrupt another academic program while enrolled in the CFA Program. The Program is organized into three levels, each culminating in a six-hour exam. The entire CFA Program can be accomplished in as few as two years, but  you may take as long as you need to complete the CFA Program. Your exam results never expire, and they don't limit the number of times you can sit for each exam level

    • There are currently more than 90,000 CFA charterholders working in over 135 countries around the world.

    • Regulatory bodies in 19 countries recognize the CFA charter as a proxy for meeting certain licensing requirements.

    • More than 125 distinguished colleges and universities around the world have incorporated a majority of the CFA Program curriculum into their own courses, including the University of Oxford's Said Business School; New York University; INSEAD; Peking University; and Nanyang Technological University.

    • Student : If you are a student planning to enter the finance or investment profession, there is no better way to signal your commitment and your ability to perform at a high level than by enrolling in the CFA Program, learning the skills you will need to succeed in the investment industry, and earning the CFA charter.

    • Investment professionals : The CFA Program curriculum is designed to complement your experience with a broad range of skills determined to be most relevant by investment practitioners and employers. Acquiring this additional knowledge will enhance your professional abilities and will increase your standing with colleagues, clients, and your employer.

    • Career Changers : Many non-investment professionals choose to earn the CFA charter to gain broader professional expertise. If you are developing an additional area of proficiency or if you are seeking to make a career change into the investment profession, completing the CFA Program is a cost-effective way to gain the skills you need for success in today's global investment profession and to signal the seriousness of your intentions.

CFA charterholders hold the following types of positions in more than 130 countries around the world.

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    The Program is organized into three levels, each culminating in a six-hour exam held in more than 180 locations around the world. Level I exams are held in June and December. Levels II and III are held in June. Each level of the exams is six hours long and is divided into morning and afternoon sessions. The Level I examination consists of 240 multiple-choice questions. The Level II examination contains 20 "mini-cases" or vignettes that describe investment challenges practitioners are likely to encounter. Each item-set contains six questions based on the vignette. The Level III exams contain constructed response (essay) questions in the morning session and 10 item-sets in the afternoon session.

    Particulars CFA(US) MBA CA
    Recognition Globlly India India
    Duration Min 1.5- 2 Yrs 2 Years (Regular, Full Time) Min 4 - 4.5 Yrs
    Avg Cost (Exam & Tuition fees) 1.75 - 2 Lakhs 4 - 5 Lakhs 1.5 - 2 Lakhs
    Internship/Article ship No Summer Internship 3 Years
    Eligibility Final Year Graduation Graduation 12th
    Work while study Yes No No

    Topic Area Level 1 Level 2 Level 3
    Ethical and Professional Standards 15 10-15 10-15
    Quantitative Methods 12 5-10 0
    Equity 10 15-25 5-10
    Economics 10 5-10 5-15
    Financial Reporting and Analysis 20 15-20 0
    Corporate Finance 7 5-15 0
    Fixed Income 10 10-20 10-20
    Derivatives 5 5-15 5-15
    Alternative Investments 4 5-10 5-15
    Portfolio Management and Wealth Planning 7 5-10 40-55
    Total 100 100 100

    • An international travel passport and
    • One of the following:
      • Undergraduate education: A bachelor's (or equivalent) degree or be in the final year of your bachelor's degree program (you must have completed your bachelor's degree program in order to register for the Level II exam), or
      • Work experience: Four years of professional work experience (does not have to be investment related), or
      • A combination of professional work experience and education that totals at least four years (part-time positions do not qualify, and the four-year total must be accrued prior to enrollment).

    If you're ready to earn the most respected investment credential in the world, then enroll in the CFA Program and register for the Level I exam today. For application forms, a list of upcoming exam locations and dates, and scholarship opportunities, please visit www.cfainstitute.org/cfaprogram.

    Among the countless finance degrees around the world, the Chartered Financial Analyst qualification has become the gold standard.