CFA ^® Exam Overview

What is the CFA® Charter

A Chartered Financial Analyst (CFA®) charter is a designation given to those who have completed the CFA® Program and completed acceptable work experience requirements.
The CFA Program is a three-part exam that tests the fundamentals of investment tools, valuing assets, portfolio management, and wealth planning.
Charter Holders often find the CFA® to both expand their knowledge and advance their career.
97% of charter holders report an improved investment understanding according to a June 2017 Candidate Survey from the CFA Institute.
Charter Holders gain access to a global community of investment professionals with CFA® local societies in nearly every major city worldwide.

A Real Return on Investment

The Chartered Financial Analyst (CFA®) Exam is administered in three levels, by the CFA Institute in over 170 cities worldwide. The CFA® curriculum prepares candidates to be effective and ethical investment management professionals.

In addition to passing the three exam levels, the CFA® institute has a diverse set of requirements including:

Holding a bachelor’s degree
Four years of professional work experience
Own an international travel passport
Able to take the exams in English
Meet the professional conduct admission criteria

For those who are curious, we have outlined the 2022 curriculum.

2022 CFA® Program Curriculum by Level

2022 CFA® Program Curriculum by Level

Level I

Level II

Level III

Ethics and Professional Standards

15% - 20%

10% - 15%

Quantitative Methods

8% - 12%

5% - 10%

0%

Economics

8% - 12%

5% - 10%

Financial Reporting and Analysis

13% - 17%

10% - 15%

0%

Corporate Issuers

8% - 12%

5% - 10%

0%

Equity Investments

10% - 12%

10% - 15%

Fixed Income

10% - 12%

10% - 15%

15% - 20%

Derivatives

5% - 8%

5% - 10%

Alternative Investments

5% - 8%

5% - 10%

Portfolio Management and Wealth Planning

5% - 8%

10% - 15%

35% - 40%

Enrollment Criteria and Requirements for CFA Program

Meet One of the Following Enrollment Requirements

Bachelor's Degree

Complete a bachelor's program or equivalent program and have received a degree from the college/university. If you are not sure if your program is comparable, consult your college or university.

Undergraduate Student

Your selected exam window must be 11 months or fewer before your graduation month for your bachelor’s degree or equivalent program. Understand that you must complete your degree program prior to the date of sitting your Level II exam.

Professional Work Experience

Have a combination of 4,000 hours of work experience and/or higher education that was acquired over a minimum of three sequential years and achieved by the date of registering for the Level I exam.

The dates of education and professional work experience cannot be overlapping. If you have a combination of work experience and higher education to achieve the minimum hours and years, assume that higher education takes 1,000 hours per year.
Have an International Travel Passport
Be Prepared to Take Exams in English
Meet the Professional Conduct Admission Criteria
Live in a Participating Country

For details, please visit www.cfainstitute.org

2023 Enrollment and Exam Fees

Required One-time Enrollment Fee: $350 USD
(one-time fee for first-time registrants of the Level I Exam)

Early Registration Fee: $900

Standard Registration Fee: $1,200

CFA Program Pass Assurance*

*Your guide to passing the CFA exam.

Learn More

† https://www.cfainstitute.org/-/media/documents/support/programs/cfa/june-2018-cfa-program-candidate-survey.ashx

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CFA ® Exam Overview

What is the CFA® Charter

A Chartered Financial Analyst (CFA®) charter is a designation given to those who have completed the CFA® Program and completed acceptable work experience requirements.

The CFA Program is a three-part exam that tests the fundamentals of investment tools, valuing assets, portfolio management, and wealth planning.

Charter Holders often find the CFA® to both expand their knowledge and advance their career.

97% of charter holders report an improved investment understanding according to a June 2017 Candidate Survey from the CFA Institute.

Charter Holders gain access to a global community of investment professionals with CFA® local societies in nearly every major city worldwide.

A Real Return on Investment

The Chartered Financial Analyst (CFA®) Exam is administered in three levels, by the CFA Institute in over 170 cities worldwide. The CFA® curriculum prepares candidates to be effective and ethical investment management professionals.

In addition to passing the three exam levels, the CFA® institute has a diverse set of requirements including:

Holding a bachelor’s degree

Four years of professional work experience

Own an international travel passport

Able to take the exams in English

Meet the professional conduct admission criteria

For those who are curious, we have outlined the 2022 curriculum.

2022 CFA® Program Curriculum by Level

2022 CFA® Program Curriculum by Level

Level I

Level II

Level III

Ethics and Professional Standards

15% - 20%

10% - 15%

10% - 15%

Quantitative Methods

8% - 12%

5% - 10%

0%

Economics

8% - 12%

5% - 10%

5% - 10%

Financial Reporting and Analysis

13% - 17%

10% - 15%

0%

Corporate Issuers

8% - 12%

5% - 10%

0%

Equity Investments

10% - 12%

10% - 15%

10% - 15%

Fixed Income

10% - 12%

10% - 15%

15% - 20%

Derivatives

5% - 8%

5% - 10%

5% - 10%

Alternative Investments

5% - 8%

5% - 10%

5% - 10%

Portfolio Management and Wealth Planning

5% - 8%

10% - 15%

35% - 40%

Enrollment Criteria and Requirements for CFA Program

Meet One of the Following Enrollment Requirements

Bachelor's Degree

Undergraduate Student

Professional Work Experience

Have an International Travel Passport

Be Prepared to Take Exams in English

Meet the Professional Conduct Admission Criteria

Live in a Participating Country

2023 Enrollment and Exam Fees

Required One-time Enrollment Fee: $350 USD (one-time fee for first-time registrants of the Level I Exam)

Early Registration Fee: $900

Standard Registration Fee: $1,200

CFA Program Pass Assurance*

† https://www.cfainstitute.org/-/media/documents/support/programs/cfa/june-2018-cfa-program-candidate-survey.ashx

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CFA ^® Exam Overview

Required One-time Enrollment Fee: $350 USD
(one-time fee for first-time registrants of the Level I Exam)