CFA Exam Dates 2025 (Out): Get Complete Exam Schedule Here

There is no specific age limit for candidates who wish to take the CFA exams. The CFA Institute, which administers the CFA Program, does not impose age restrictions on candidates. The CFA Program is open to individuals from a wide range of educational and professional backgrounds, and candidates can pursue the CFA charter at any age, provided they meet the educational and work experience requirements.

However, it's important to note that to become a CFA charterholder, candidates must meet the following minimum eligibility criteria, which do not include an age requirement:

• Candidates must have a bachelor's degree from an accredited institution or be in the final year of their bachelor's degree.
• Candidates must have four years of qualified work experience in the investment decision-making process. This experience can be obtained before, during, or after taking the CFA exams.
• Candidates must agree to adhere to the CFA Institute's ethical and professional standards.

Chartered financial analyst designation is a professional credential that is offered by the CFA institute to the financial and investment professionals. The designation of the Chartered Financial Analyst or CFA Charter is the most recognized and respected credential in the field of investment banking. It is a globally recognized credential. There are three levels in CFA Program that students will have to go through. Based on the historical data, pass rate for the CFA examination is about 40 percent.

There is a wide range of topics related to investment management, stocks, derivatives, financial analysis which give you great understanding of everything you need in order to become a better Financial Analyst/Investment banker.

CFA Level I Exam: This is the first examination that students will have to go through. In level one, students will have to focus on the concepts and tools that are applied to investment management and valuation. The CFA Level 1 exam is conducted in two sessions, each 3 hours long. It consists of 240 multiple-choice questions in two sessions of 120 questions each. The questions are designed based on the topic weightages given in the CFA Level 1 Exam Syllabus, with very slight deviation.

CFA Level II Exam: This is the second examination that students will have to go through after passing the CFA level I Exam. In Level II, students will have to deal with the assets valuation. Students must have the ability to apply the concepts and tools that they have learned in level I. There are total 20 item set questions, split in two sessions. The morning and evening sessions have 10 item set questions each. The total number of questions in the CFA Level II exam is 120. The duration of the exam is 360 minutes. Some of the CFA level II topics are covered only in the morning session and other topics are covered only in the evening session.

CFA Level III Exam: This is the last CFA exam that students will have to pass to become a CFA charterholder. In the level 3 examination, students will have to go through portfolio management in depth. CFA Level I and CFA Level II revolved around basic financial knowledge, investment valuation comprehension and the application of both. CFA Level III exam focuses on portfolio management and wealth planning. All the best.

The CFA Level I exam comprises a total of 180 multiple-choice questions to be answered in two sessions of 135 minutes each. There are 90 MCQ questions for each session. The first session includes topics such as professional standards, financial reporting, and quantitative methods, while the second session includes questions about corporate finance, fixed income, derivatives, alternative investments, and portfolio management. This exam is given twice a year, once in June and once in December.

The CFA (Chartered Financial Analyst) exams are conducted in a computer-based testing (CBT) format. The transition from paper-based exams to computer-based exams was implemented by CFA Institute to provide a more efficient and secure testing experience for candidates.

Under the CBT format, candidates take the exams on a computer at designated testing centers. The exams are administered over multiple sessions, with each session focusing on specific topics. The CFA Level I exam consists of multiple-choice questions, while the Level II and Level III exams include item-set questions (also known as vignettes) and constructed response (essay) questions.

The CBT format offers several advantages, such as immediate exam results, standardized navigation tools, the ability to mark and review questions, and an enhanced exam security system. Additionally, candidates have the flexibility to choose their preferred exam date within the available testing window.

It's important to note that while the CFA exams are computer-based, they still maintain the same level of rigor and depth in assessing candidates' knowledge and skills in finance and investment management. 

The Level III CFA exam format is as follows:

• The exam will be conducted in two sessions, each lasting 2 hours and 12 minutes.
• There will be an optional break in between the two sessions.
• The exam will consist of constructed response (essay) questions and item set questions, which will be comprised of vignettes.
• Each item set will consist of a vignette followed by four multiple-choice questions.
• There will be a total of 11 essay sets and 11 item sets, each worth 12 points.

There is no fixed time limit on the validity of the CFA Registration. Candidates will get access to the digital curriculum once your registration is complete. It is refundable within 14 days of payment. Candidates who wish to appear for the CFA exam, can register on the official website of CFA institute by filling up the registration form. The candidates must note that there is no option of offline form filling hence, they must apply online.

No, you can only apply for one CFA exam level at a time. The institute does not allow candidates to apply for multiple exam levels simultaneously. You will need to complete and pass one level before moving on to the next one. However, if you have already registered for an exam and would like to reschedule or cancel your registration, you can do so by visiting the CFA Institute's website and following the instructions provided.

Each level of the CFA exam builds upon the knowledge and skills acquired in the previous level. This sequential approach ensures that candidates have a strong foundation before advancing to more complex topics. It's important to note that you must meet the specific eligibility requirements for each level and pay the applicable exam registration fee for each level separately. So, to progress through the CFA exam, you need to pass each level one at a time, starting with Level I.