Chartered Financial Analyst program or the CFA® program is worlds most popular course in Investment and Finance. Candidates over 130 countries have joined cfa course. The exam and certification is administrated by CFA Institute, USA.
There are 3 exams or levels; A candidate who passes all three levels of CFA course and meets other professional requirements is awarded the “CFA Charter”. The CFA Charter is only a professional credential. It’s not an academic degree, It is not approved by UGC or AICTE. However, it is benchmarked as comparable to a Master Degree of Finance by UK NARIC, or MBAs in USA.
There are approximately 120,000 CFA members in 35 countries as of July’2014 and almost 100,000+ students appear in CFA Exam every year. The exam is considered difficult and needs disciplined study as passing percentage is in between 38% – 50%.
History
It started from The Association for Investment Management and Research, or AIMR in 1947. The earliest CFA charter holders were given based only through work experience. However, first exam was conducted in 1963. The program was getting popular and to give it a boost FAF and ICFA merged in 1990 to form CFA institute.
[tabs style=”boxed” title=” CFA Course Details “] [tab title=”Eligibility”]
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- You should have bachelor’s degree or be in the final year of your bachelor’s degree.
- Or have 4 years of qualified, professional work experience
- Or a combination of work and university experience that totals at least 4 years (Part-time, and internship positions do not qualify)
- Meet the professional conduct criteria of CFA Institute for the CFA Charter.
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[/tab] [tab title=”Level 1: Exam”]
Next Exam Date: 4 June 2017
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- Level 1 exam is held in June and December
- Exam Pattern
- Questions: 240
- Time: 6 hrs
- Type: MCQ
- No negative marking
- Exam is pen paper based.
- Calculator is allowed
- Centers are currently in India and abroad. Exam locations
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[tab title=”Level 2 Exam”]
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- Level 2 exam is held in June Only
- 20 item sets(Mini Cases) in total, 6 Questions in each item set
- 10 in the morning session
- 10 in the afternoon session
- Exam Pattern
- Questions: 120
- Total marks: 360 (3 marks per question)
- Time: 6 hrs
- Type: MCQ
- No negative marking
- Exam is pen paper based.
- Calculator is allowed
- Centers are currently in India and abroad. Exam locations
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All three levels have the same subjects but with different difficulty level and understanding.
|
Topic Area |
Level I |
Level II |
Level III |
| Ethical and Professional Standards (total) |
15 |
10 |
10 |
| Investment Tools (total) |
49 |
30-60 |
0 |
| Corporate Finance |
7 |
5-15 |
0 |
| Economics** |
10 |
5-10 |
0 |
| Financial Reporting and Analysis |
20 |
15-25 |
0 |
| Quantitative Methods |
12 |
5-10 |
0 |
| Asset Classes (total) |
29 |
35-75 |
35-45 |
| Alternative Investments |
4 |
5-15 |
5-15 |
| Derivatives |
5 |
5-15 |
5-15 |
| Equity Investments |
10 |
20-30 |
5-15 |
| Fixed Income |
10 |
5-15 |
10-20 |
| Portfolio Management and Wealth Planning (total) |
7 |
5-15 |
45-55 |
| Total |
100 |
100 |
100 |
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CFA Approved University Programs
CFA institute has also approved and tied up with over 100 university/partners of offer CFA approved courses and education around the globe.
Dispute with Indian CFA
In 1998, CFA Institute sued and won a judgment against ICFAI, India. The judgment prohibited ICFAI from using the CFA or Chartered Financial Analyst mark in the United States and Canada. Also, in August 2006, an Indian court issued a temporary injunction against the Indian organization as well.
CFA Institute trademark rights to the “CFA” and “Chartered Financial Analyst” brands have been recognized in India by the Delhi High Court. The Delhi High Court ordered ICFAI and its affiliates to stop using CFA Institute trademarks.
Preparation
You have to first pass CFA Level 1 to appear in level 2. Its better to start at least 5-6 months before. You can prepare for your-self or you can join a CFA level 1 coaching. If you need a professional counseling you can call or email us. We’ll be happy to assist you.
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