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The Chartered Financial Analyst® (CFA) credential has become the most respected and recognized investment designation in the world; enrolling in the CFA Program is your first step toward earning this qualification.


The CFA Program curriculum covers concepts and skills you will use at all stages of your career, bridging academic theory, current industry practice, and ethical and professional standards to provide a strong foundation of advanced investment analysis and real-world portfolio management skills.ext block. Click edit button to change this text.


The CFA® examination process requires that you sit and pass three consecutive levels of exam. Level I exams are held in June and December each year with levels II and III only in June.


Each of the exams is a six hour exam though the format changes from level to level.


Level I – Both of the three hour exams will cover all of the level I curriculum areas. In total there are 240 multiple choice questions, each based around the level I Learning Outcome Statements and each offering three choices.

Level II – The level II exam is in ‘item-set’ form, a different style of multiple choice tests. You will be given 10 ‘vignettes’ – mini case studies – and then have to answer six questions based on that vignette.

Level III – The morning exam at level III is a constructed response test where you have to provide written answers, for example calculating an appropriate asset allocation strategy for a given portfolio and explaining your recommendation. The afternoon paper is in the same format as level II.

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