CHARTERED FINANCIAL ANALYST (CFA)

The Chartered Financial Analyst (CFA) designation is the highest standard of excellence in the field of investment management and financial analysis, recognized globally as the gold standard for finance professionals.

The CFA charter is offered by the CFA Institute, a leading global association of investment professionals dedicated to advancing the investment management profession. With a presence in more than 160 markets worldwide and a community of over 190,000 charterholders, the CFA Institute supports professionals through education, certification, research, and advocacy.

Achieving the CFA charter demonstrates your expertise in investment analysis, portfolio management, ethics, and financial decision-making, and opens doors to career opportunities in asset management, investment banking, corporate finance, and financial consulting across industries worldwide.

Candidate Handbook by CFA Institute
Students

Levels of CFA®

In order to complete CFA® Certificate, the candidate must pass three levels of CFA® Program to obtain a CFA® Charter.

CFA Level I

CFA Level I exam consists of 180 multiple choice questions.It is further split into two 135-minute sessions (approx.).
There's an optional break between the two sessions.

⏱️ The duration of CFA Level I will be 4 hours and 30 mins
  • 📝 First session: 2 hrs 15 mins, 90 MCQs
  • 📝 Second session: 2 hrs 15 mins, 90 MCQs
CFA Level II

CFA Level II exam consists of 22 item sets comprising of vignettes (mini case studies / short case statements) with 88 accompanying multiple-choice questions.

⏱️ The duration of CFA Level II exam will be 4 hours and 24 minutes

🔄 It is further split into two equal sessions of 2 hours and 12 minutes each, with an optional break in-between.

CFA Level III

Each session will have either 11 item sets and 5 essay sets or 11 item sets and 5 essay sets. The mixed distribution of item types across the two exam sessions helps to create a more balanced delivery of questions throughout the exam.

⏱️ Duration of CFA Level III exam will be 4 hours and 24 minutes

🔄 It is further split into two equal sessions of 2 hours and 12 minutes, with an optional break in-between.

ELIGIBILITY

Here is the eligibility criteria in order to start the CFA program

Undergraduate
Route

The candidate can sit for level-1 exam within 23 months of graduation month and can sit for Level-2 exam within 11 months of graduation month. You must have bachelor's degree or equivalent to sit for Level-3 exam.

Graduation
Route

You are eligible to sit for all levels if you have a bachelor's degree or equivalent. You can sit for all pass Level-1 then Level-2 and then Level-3.

Experience
Route

You are eligible for all levels if you have 4000 hours of professional experience in any field gained in a minimum period of 3 years.

Experience + College
Route

You are eligible for all levels if you have a combination of college life and job experience equaling three years which does not overlap.

CFA® Fee and Exam Structure

cfaexamfee

For 2025 & 2026, the initial enrollment fee USD 350.

For Upcoming attempts & Registration Deadline Date (CFA Registration Dates view details here).

Core Competencies of a CFA

Investment Analysis

Portfolio Management

Ethics & Professional Standards

Corporate Finance

Economics

Financial Reporting & Analysis

Quantitative Methods

CFA Certification

The Chartered Financial Analyst (CFA) designation is a globally respected qualification for professionals in investment management and finance. It confirms advanced knowledge in investment analysis, portfolio management, financial reporting, ethics, and regulatory compliance.

Earn Your Certification
cfa Certificate
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