Chartered Financial Analyst (CFA) Details

Certification Industry: Investments

Certificate Name: Chartered Financial Analyst (CFA)

Certificate Issuing Authority: CFA Institute

Certification Price: Standard Registration: $930 (ends mid February) Late Registration: $1,380 (ends mid March)

Certificate Validity: The CFA designation is not a licensing program and therefore has no expiration date.

A charter holder is one of the most prestigious accomplishments for an investment professional as it validates their competence in terms of real-world portfolio management and investment analysis.

In order to become a charter holder, a professional is supposed to follow a code of ethics and standards by undertaking the membership of the CFA Institute.  

Who Should Apply for Chartered Financial Analyst (CFA)?

The CFA program has three levels of the curriculum and a candidate has to pass all three levels to obtain the CFA charter.

The investment professionals skilled in the investment decision-making process should apply for becoming a charter holder. Many times charter holders end up becoming a Portfolio Manager, but there are possibilities for jobs all the way up to the Chief Executive.

CFA Program Requirements

  1. Enrollment Criteria [Any one of the following]

  1. Bachelor’s Degree

  2. Final-Year Student 

  3. Professional Work Experience (4 years/48 months)    

  1. International Travel Passport

  2. English Proficiency 

  3. A professional Conduct Statement form

5. Residence in a Participating Country (OFAC Compliance Policy)

Recommended Courses:

Program Schedule

  1. July

Registration opens for the exam to take place next year.

  1. Late September 

First Fee deadline.

  1. January 

Mock exams become available.

  1. Early February 

Awareness Scholarship Application deadline.

  1. Mid February 

Second Fee deadline.

  1. Mid March 

Final Fee deadline.

  1. Late March

Submissions for alternate date accommodations become due.

  1. Early May

Exam Admission tickets become available.

  1. First Saturday of June

Exam Day.

  1. June-July

Exams are graded.

  1. Late July

Results for Level I and Level  II are declared.

  1. Early August Results for Level III are declared.

Chartered Financial Analyst (CFA) Exam Details:

There are three levels i.e. Level I, II, and III of tests. 

  • Level I: Basic knowledge

  • Level II: Application of the basic knowledge/standards and involves a complex analysis along with valuing assets.

  • Level III: Synthesization and application of the standards in portfolio management and compliance context.

Level I

Level II

Level III

Exam Structure

240 multiple-choice questions

20–30 vignettes supporting 120 multiple choice questions

20–30 vignettes supporting a variable number of constructed-response and multiple-choice questions

Exam Time

6 hours

6 hours

6 hours

Passing Percentage




Exam Language




More Details

CFA Program Quick Start Guide_Level 1

CFA Program Quick Start Guide_Level 2_v1

CFA Program Quick Start Guide_Level 3_v1

Exam Fee

CFA Program fees include a one-time Enrollment and Registration fee for each exam. This includes:

  1. An eBook containing the entire curriculum. [Print copy also available for $150(non-refundable)]

  2. An Interactive Study Planner to keep one on track along with practice tests on various topics and mock exams.

  3. A Mobile App for studying and using all of the above.

  • Various scholarships are available.

To get the “early bird discount”, one should apply 9 months before the Exam Date.

Time Taken To Prepare For The Exams

In order to be thorough with the preparation, a candidate must take the CFA review course. The CFA Institute recommends:

  • At least 300 hours of study

  • About 6 months of preparation time for each exam 

  • The average time taken to complete the CFA Program is four years.

For more details, log on to CFA Program.