Table of Contents
About the Program
The CFA certificate is one of the most prestigious and rigorous investment credentials in the world. It is a globally recognized symbol of excellence in investment management. CFA charterholders are highly sought-after by employers in the investment industry, and the CFA designation can lead to a significant increase in earning potential.
According to a 2022 survey by CFA Institute, CFA charterholders earn an average of 63% more than their non-CFA counterparts. CFA charterholders are also more likely to be employed in senior positions in the investment industry.
The CFA program was founded in 1959 by the American Institute of Finance. The program was originally designed to train investment analysts, but it has since expanded to include other investment professionals, such as portfolio managers, financial advisors, and investment bankers.
The CFA program is now administered by CFA Institute, a global association for investment professionals. CFA Institute has over 170,000 members in 163 countries.
The CFA program is a three-level program. Each level of the program consists of a six-hour morning session and a six-hour afternoon session. The exam covers a wide range of topics. To earn the CFA charter, candidates must pass all three levels of the exam and have four years of professional work experience in the investment industry.
The CFA program is designed to develop the knowledge and skills necessary to perform investment analysis, portfolio management, and other investment-related functions. The program also covers ethical and professional standards, which are essential for building trust and confidence in the investment profession.
Why CFA Program?
The Chartered Financial Analyst (CFA) program is a globally recognized and highly respected professional designation for individuals working in the field of finance and investment management. There are several reasons why someone might choose to pursue the CFA program:
Career Advancement : The CFA charter is highly regarded by employers in the finance industry. Earning the designation can open up career advancement opportunities and help you stand out in a competitive job market.
Knowledge and Skills : The CFA program is known for its rigorous curriculum, which covers a wide range of topics related to finance, investment management, and ethics. Completing the program equips you with valuable knowledge and skills that can enhance your career.
Ethical Standards : The CFA program places a strong emphasis on ethical standards and professional conduct. This is particularly important in the finance industry, where ethical behavior is critical to maintaining trust with clients and investors.
Global Recognition : The CFA designation is recognized and respected worldwide. This can be especially valuable if you aspire to work in international markets or for global financial institutions.
Networking Opportunities : CFA Institute, the organization behind the CFA program, hosts events and provides networking opportunities for its members. Building a professional network in the finance industry can be instrumental in advancing your career.
Investment Management Focus : The CFA program is specifically designed for individuals interested in careers related to investment management, including portfolio management, equity analysis, fixed income, and more. If your career goals align with these areas, the CFA program can be highly relevant.
Flexibility : You can pursue the CFA designation while working full-time, as the program allows you to study at your own pace. This flexibility is appealing to many professionals looking to enhance their qualifications without interrupting their careers.
Industry Recognition : Many employers prefer or require their employees to have the CFA designation for roles involving financial analysis, asset management, and investment decision-making.
Benefits for Students
Prepare for a career in investment management: The CFA program is designed to prepare candidates for a variety of roles in the investment industry. The program covers all aspects of investment management, from financial reporting and analysis to portfolio management and ethics. Students who complete the CFA program will be well-prepared for a successful career in the investment industry.
Make themselves more competitive in the job market: CFA charterholders are highly sought-after by employers in the investment industry. The CFA designation is a globally recognized symbol of excellence in investment management. Students who complete the CFA program will be more competitive in the job market than their non-CFA peers.
Gain a deeper understanding of financial markets: The CFA program provides students with a comprehensive understanding of financial markets. Students will learn about different types of securities, how to analyze them, and how to construct investment portfolios. This knowledge can be valuable for students pursuing careers in a variety of fields, including finance, accounting, and economics.
Enhance their resume: The CFA designation is a prestigious credential that can enhance any student’s resume. It shows employers that the student is serious about their career and is committed to professional development.
Benefits for Professionals
Increase their earning potential: CFA charterholders typically earn significantly more than their non-CFA counterparts. According to a 2022 survey by CFA Institute, CFA charterholders earn an average of 63% more than their non-CFA counterparts.
Advance their careers: CFA charterholders are highly sought-after by employers in the investment industry. The CFA designation can lead to more senior and lucrative positions.
Gain a deeper understanding of investment management: The CFA program provides professionals with a comprehensive education in all aspects of investment management. This knowledge can be valuable for professionals working in a variety of roles in the investment industry.
Enhance their reputation: The CFA designation is a globally recognized symbol of excellence in investment management. CFA charterholders are respected by their peers and clients.
CFA Related Job Titles & Description
Credit analysts assess the creditworthiness of individuals and businesses to determine their ability to repay loans and other forms of debt. They use a variety of financial information, including financial statements, credit reports, and industry data, to make their assessments. Credit analysts play an important role in the lending process, as they help banks and other financial institutions make informed decisions about who to lend to and how much to lend.
Private equity analysts identify, evaluate, and invest in private companies. They work for private equity firms, which raise money from investors and use it to invest in private companies. Private equity analysts typically have a strong background in finance and accounting, and they use their skills to assess the investment potential of private companies.
Asset management analysts research and analyze investment opportunities for asset management firms. They use their knowledge of financial markets and investment strategies to develop investment portfolios for clients. Asset management analysts typically have a strong background in finance and economics, and they use their skills to identify and evaluate investment risks and returns.
Fund managers construct and manage investment portfolios for clients. They work for a variety of financial institutions, including mutual fund companies, pension funds, and hedge funds. Fund managers use their knowledge of financial markets and investment strategies to develop and manage portfolios that meet the investment objectives of their clients.
Corporate finance analysts provide financial advice and services to businesses. They work on a variety of projects, including mergers and acquisitions, capital raising, and financial planning. Corporate finance analysts typically have a strong background in finance and accounting, and they use their skills to help businesses make informed financial decisions.
Investment bank analysts assist investment bankers with a variety of tasks, including financial modeling, research, and pitch preparation. They work on a variety of projects, including mergers and acquisitions, capital raising, and IPOs. Investment bank analysts typically have a strong background in finance and accounting, and they use their skills to help investment bankers advise clients on complex financial transactions.
CFA Program equal Master of Finance in
UK – USA – Canada – India – Hong Kong – Singapore – Australia – Brazil – China – Japan – France -South Africa
All What You Need to Know About CFA Exam
CFA Level 1 Exam Structure
The CFA Level 1 exam is a multiple-choice exam. It consists of two sessions, each session 2:15 hours with 90 multiple-choice questions. In total 5 hours exam with 180 multiple-choice questions
The first session covers ethical and professional standards, quantitative methods, economics, and financial reporting and analysis. The second session covers corporate issuers, equity investments, fixed income investments, derivatives, alternative investments, and portfolio management.
CFA Level 2 Exam Structure
The CFA Level 2 exam is a vignette-based exam. The exam consists of two sessions, each session 3:00 hours with 11 item sets, each with 8 multiple-choice questions. Each vignette is a short case study, and candidates must answer questions about the vignette using their knowledge of investment principles and practices.
CFA Level 3 Exam Structure
The CFA Level 3 exam is also a vignette-based exam. It consists of 11 question sets, each with 6 constructed response questions. Constructed response questions require candidates to write short essays in response to the vignette.
| Exam Cost | Level 1 | Level 2 | Level 3 |
|---|---|---|---|
|
Membership fee
|
350$
|
-
|
-
|
|
Early registration fee
|
1250$
|
1250$
|
1250$
|
|
Late registration fee
|
940$
|
940$
|
940$
|
|
Rescheduling Fee
|
250$
|
250$
|
250$
|
Study time
The CFA Institute recommends that candidates study for 300-348 hours for Level 1, 364 hours for Level 2, and 365 hours for Level 3 of the CFA exam. However, the actual amount of study required will vary depending on the individual candidate’s background, experience, and learning style.
Pass rates :
10 Year Average Pass Rate for level 1 : 41%
10 Year Average Pass Rate for level 2 : 45%
10 Year Average Pass Rate for level 3 : 52%
| Registration Deadlines | February 2024 | May 2024 | August 2024 | November 2024 |
|---|---|---|---|---|
|
Registration and Scheduling Opens
|
16 May 2023
|
15 August 2023
|
14 November 2023
|
8 February 2024
|
|
Early Registration Deadline
|
13 July 2023
|
12 October 2023
|
23 January 2024
|
16 April 2024
|
|
Standard Registration Closes
|
8 November 2023
|
6 February 2024
|
14 May 2024
|
7 August 2024
|
|
Exam dates level 1
|
19–25 February 2024
|
15-21 May 2024
|
20-26 August 2024
|
13-19 November 2024
|
|
Exam dates level 2
|
- |
22-26 May 2024
|
27-31 August 2024
|
20-24 November 2024
|
|
Exam dates level 3
|
15–18 February 2024
|
- |
16-19 August 2024
|
-
|
| CFA Exam Topics | 2024 Level 1 Weight | 2024 Level 2 Weight | 2024 Level 3 Weight |
|---|---|---|---|
|
Ethical and Professional Standards |
15–20 |
10–15 |
10–15 |
|
Quantitative Methods |
6-9% |
5-10%
|
- |
|
Economics |
6-9%
|
5–10 %
|
5–10 %
|
|
Financial Statement Analysis |
11-14% |
10–15%
|
- |
|
Corporate Issuers |
6-9% |
5–10%
|
- |
|
Equity Investments |
11-14% |
10-15%
|
10-15%
|
|
Fixed Income |
11-14%
|
10–15%
|
15–20%
|
|
Derivatives |
5–8% |
5-10%
|
5-10%
|
|
Alternative Investments |
7-10% |
5–10%
|
5–10%
|
|
Portfolio Management and Wealth Planning |
8-12%
|
10-15%
|
35–40%
|
CFA Institute Scholarship
The CFA Institute offers four scholarships: Access Scholarship, Women’s Scholarship, Student Scholarship, and Professor Scholarship. You can apply for more than one scholarship, but only the scholarship with the most recent award will be applied. The CFA Institute will notify you of your scholarship status within two weeks of the application deadline.
CFA Institute Access Scholarship
The Access Scholarship is designed to make the CFA Program more accessible to individuals who may not be able to afford the full program fees. The scholarship covers the enrollment fee and reduces the exam registration fee to USD300.
To be eligible for the Access Scholarship, you must:
- Be a CFA Program candidate who has not yet registered for their next exam.
- Have a financial need.
- Be a citizen or permanent resident of a country where the CFA Program is offered.
CFA Institute Women’s Scholarship
The Women’s Scholarship is designed to encourage and support women in the investment profession. The scholarship covers the enrollment fee and reduces the exam registration fee to USD400.
To be eligible for the Women’s Scholarship, you must:
- Be a CFA Program candidate who has not yet registered for their next exam.
- Identify as a woman.
- Be a citizen or permanent resident of a country where the CFA Program is offered.
CFA Institute Student Scholarship
The Student Scholarship is designed to support students who are enrolled in a full-time undergraduate or graduate program and who are interested in pursuing a career in investment management. The scholarship covers the enrollment fee and reduces the exam registration fee to USD400.
To be eligible for the Student Scholarship, you must:
- Be a student enrolled in a full-time undergraduate or graduate program.
- Have a cumulative GPA of 3.0 or higher.
- Be a citizen or permanent resident of a country where the CFA Program is offered.
CFA Institute Professor Scholarship
The Professor Scholarship is designed to encourage and support professors who are teaching investment courses. The scholarship covers the enrollment fee and reduces the exam registration fee to USD400.
To be eligible for the Professor Scholarship, you must:
- Be a professor who is teaching an investment course at a university or college.
- Have a PhD in finance or a related field.
- Be a citizen or permanent resident of a country where the CFA Program is offered.
How to apply?
You will need to prepare a personal statement to show why you need a scholarship and why do you pursue CFA program
Application window
The second cycle will open 24 January 2024.
