CFA ® Exam Overview
What is the CFA® Certification
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Charter Holders often find the CFA® to both expand their knowledge and advance their career.
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97% of charter holders report an improved investment understanding according to a June 2017 Candidate Survey from the CFA Institute.
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The overwhelming majority of charter holders use the curriculum as their primary resource.
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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:
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Holding a bachelor’s degree
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Four years of professional work experience
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Own an international travel passport
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Able to take the exams in English
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Meet the professional conduct admission criteria
For those who are curious, we have outlined the 2021 curriculum.
2021 CFA® Program Curriculum by Level
What are the Changes to the CFA® Exams in 2021?
The CFA® Institute has decided to overhaul the Level I exam. Starting with the February 2021 exams, the following changes will be enacted to determine CFA® certification:
- All three levels of the CFA exam will now be computer-based
- The Level II and Level III exams will now be administered twice a year
- There will no longer be a single exam day, instead exam windows of around 10 days
- The June exam dates have been removed
- The testing time has been reduced to approximately 4.5 hours from 6 hours
- The Level I exam will remain in multiple-choice format
- The Level II and Level III exams will continue to use item set (vignettes) and essay formats (Level III) as previously used for the paper-based exams.
- The total number of item sets may vary and change
Level I and Level II Enrollment and Exam Fees
Required One-time Enrollment Fee: $450 USD
(one-time fee for first-time registrants of the Level I Exam)
Early Registration Fee: $700
- May 2021 Exam: applies 8/20/2020 through 11/3/2020 (available for Level I, Level II, and Level III)
- August 2021 Exam: applies 8/20/2020 through 2/2/2021 (available for Level I and Level II)
- November 2021 Exam: 8/20/2020 through 5/4/2021 (available for Level I and Level III)
Standard Registration Fee: $1,000
- May 2021 Exam: applies 11/4/2020 through 2/23/2021 (available for Level I, Level II, and Level III)
- August 2021 Exam: applies 2/3/2021 through 5/4/2021 (available for Level I and Level II)
- November 2021 Exam: applies 5/4/2021 through 8/10/2021 (available for Level I and Level III)