CFA Institute is a global association of investment professionals that traces
its lineage back to the establishment of the Financial Analysts Federation (FAF)
in 1947. Leadership of the FAF established an independent organization- the
Institute of Chartered Financial Analysts (ICFA)- to administer the CFA
credential program in 1959 and the ICFA administered the first CFA exams in
1963. Later, the FAF and the ICFA merged to become the Association for
Investment Management and Research (AIMR). In 2004, AIMR changed its name to CFA
Institute. With over 100,000 members, and regional societies around the world,
CFA Institute is dedicated to developing and promoting the highest educational,
ethical, and professional standards in the investment industry.
Chartered Financial Analyst Entrance Examination Eligibility Criteria:
Have a bachelor's (or equivalent) degree OR be in the final year of your
bachelor's degree program at the time of registration OR have four years of
qualified, professional work experience OR have a combination of work and
College experience that totals at least four years (Note: Summer, part-time, and
intern-ship positions do not qualify). If you initially enrollregister as a
final year undergraduate student with a degree in progress, you may not register
for the Level II exam until you have earned your degree, or obtained work
experience that meets the program�s entrance requirements. At the time your
degree is awarded, you may update your account education information to certify
that your degree has been received.
Pattern for Chartered Financial Analyst Entrance Examination:
The CFA Program includes a series of three exams that are offered in test
centres around the world. These three exams: Level I, Level II, and Level III
must be passed sequentially as one of the requirements for earning a CFA
|Level of Exam |
|Level I exams|
|Level II exams|
|Level III exams|
|Multiple choice. |
|Item set. |
|Item set and Essay. |
No. of Question
240 questions to be completed in a six-hour time frame.
20 item sets-10 on the morning session of the exam and 10 on the
Essay format in the morning, 10 item sets, in the afternoon.
Level I multiple choice questions are crafted with each of the
incorrect responses (distracters) carefully constructed to
represent common mistakes in either calculation or logic.
Item sets are sometimes called "mini-cases" Each item set on the
exam consists of a
vignette (or case statement) and six multiple choice items
The Level III essay exam in the morning session and has 10�15
questions with multiple parts and a maximum score of 180 points.
The points for each question and each question part are given in
Tel: +1 (434) 951-5499.
Fax: +1 (434) 951-5262