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Exam

Practical Skill Module (PSM)

Registration

Payment

Deferral

Scholarship

What is the eligibility criteria?

Either of the 3 criteria can be satisfied to be eligible for the CFA Program. The criteria should be met at the time of registration: - Graduate in any discipline - Work experience of more than equal to 4 years - Combination of 4000 hours of higher education and/or work experience that was acquired over a minimum of three sequential years and not overlapping. Check the lecture on the Eligibility Criteria for Working Professional for CFA: https://www.youtube.com/watch?v=m0QGMKO4wNg&t=37s For undergraduates: - You may take the CFA Level 1 exam 23 months before your graduation month. - CFA Level 2 can be taken 11 months before your graduation month. Check the lecture on the Eligibility Criteria for Undergraduate Students for CFA

For undergraduates:

  • You may take the CFA Level 1 exam 23 months before your graduation month.
  • CFA Level 2 can be taken 11 months before your graduation month. 
    Check the lecture on the Eligibility Criteria for Undergraduate Students for CFA: Click Here

Take the Eligibility Test: Click Here

Professional work experience does not need to be investment-related. Internships/articleships are accepted if they are paid. Work experience with your own business or your family business will qualify only if it is professional experience for which you are paid.
For more details, check: https://www.cfainstitute.org/programs/cfa-program

: https://www.youtube.com/watch?v=uKHY_D5LOFI Take the Eligibility Test: https://classes.aswinibajaj.com/Eligibility/Index Professional work experience does not need to be investment-related. Internships/articleships are accepted if they are paid. Work experience with your own business or your family business will qualify only if it is professional experience for which you are paid. For more details, check: https://www.cfainstitute.org/programs/cfa-program#what-does-professional-work-experience-mean-

When the exam results are out?

Within 5-7 weeks of taking the exam and completion of Practical Skills Module.

What is Practical Skill Module (PSM)?

A Practical Skills Module (PSM) develops your practical skills through a combination of videos, multiple-choice questions, guided practice, and case studies. You will be required to complete at least one PSM at each level to receive your exam result. You may begin your PSM topic at any time after registration. Each PSM takes 10-20 hours to complete.

Check the lecture: Click Here

Refer to the FAQ section on PSM for more details.

What is language of the exam?

CFA exams are only offered in English. Exams require English proficiency for reading comprehension and formulating answers to complex financial scenarios.

How many times a candidate can attempt the exam?

Candidates are permitted to take the exam a maximum of two times per calendar year (when applicable) but not in consecutive windows or windows that are less than six months apart. There is a maximum of six attempts per exam level.

Which subjects need to study?

  • Ethical and Professional Standards
  • Quantitative Methods
  • Economics
  • Financial Statement Analysis
  • Corporate Issuers
  • Portfolio Management
  • Equity Investments
  • Fixed Income
  • Derivatives
  • Alternative Investments.

What is the exam structure?

The Level I exam consists of 180 multiple-choice questions, split between two 135-minute sessions (session times are approximate). There is an optional break between sessions.

What is the question format?

Each session consists of 90 multiple-choice questions. Each multiple-choice item consists of a stem (a question, a statement, and/or table) as well as three answer choices (A, B, or C).

Two basic formats are used:

  • Sentence completion with three unique choices
  • Questions with three unique choices

You can also check the website: https://www.cfainstitute.org/programs/cfa-program/candidate-resources/level-i-exam

What is the exam cycle?

4 times a year - February, May, August, and November

What is passing percentage?

10-Year Average Pass Rate 41%.

Which subjects need to study?

  • Ethical and Professional Standards
  • Quantitative Methods
  • Economics
  • Financial Statement Analysis
  • Corporate Issuers
  • Portfolio Management
  • Equity Investments
  • Fixed Income
  • Derivatives
  • Alternative Investments.

What is the exam structure?

The CFA Level II exam consists of 22 item sets comprised of vignettes with 88 accompanying multiple-choice questions. It will be 4 hours and 24 minutes, split into two equal sessions of 2 hours and 12 minutes, with an optional break in between.

What is the question format?

22 item sets comprised of vignettes with 88 accompanying multiple-choice questions. Made up of 11 item sets for each session, for a total of 22 on the exam. Twenty scored, and two not.

You can also check the website: https://www.cfainstitute.org/programs/cfa-program/candidate-resources/level-ii-exam

What is the exam cycle?

3 times a year - May, August, and November

What is passing percentage?

10-Year Average Pass Rate 45%.

Which subjects need to study?

70% of Core Curriculum:

  • Asset Allocation
  • Portfolio Construction
  • Performance Measurement
  • Derivatives and Risk Management
  • Ethical and Professional Standards

    30% of Specialized Pathways: (candidate need to choose any one while registering for level 3 exam)
     
  • Portfolio Management Pathway
  • Private Market
  • Private Wealth

What is the exam structure?

The Level III exam consists of item sets and constructed response (essay) sets divided into two sessions of 132 minutes each.

What is the question format?

Mixed format with vignette-supported essay questions and vignette-supported multiple choice questions. 11 item sets and 11 essay sets. Made up of either 6 item sets and 5 essay sets or 5 item sets and 6 essay sets.

You can also check the website: https://www.cfainstitute.org/programs/cfa-program/candidate-resources/level-iii-exam

What is the exam cycle?

2 times a year - February and August

What is passing percentage?

10-Year Average Pass Rate 52%.

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