Abstract
CFA Level I, candidates are asked basic knowledge and comprehension questions and must perform some analysis. CFA Level 1 exam focuses on:
Classroom Structure
Exam format
The CFA Level I exams include 240 multiple choice questions, 120 in the morning session of the exam and 120 in the afternoon session. Each multiple choice question is independent of other questions and has three possible choices: A, B, and C. All questions are equally weighted and there is no penalty for wrong answers.
Abstract
Instead of focusing on Investment tools as in level 1 exam, the focus of CFA Level II curriculum is on asset valuation. The learning focus also changes, from knowledge and comprehension (Level I), to application and analysis (Level II).
CFA Level II Examination focuses on:
Classroom Structure
To be updated;
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Exam format
CFA Level II exam consists of 20 item sets/caselets — 10 in the morning session of the exam and 10 in the afternoon session. Each item set on the CFA exam consists of a vignette (or case statement) and six multiple choice items (questions). Each multiple choice question has three possible choices: A, B, and C. All questions are equally weighted and there is no penalty for wrong answers.
Abstract
CFA Level III exam focuses on portfolio management. The learning focus also changes, from knowledge and comprehension (Level I), to application and analysis (Level II), and to synthesis and evaluation (Level III).
Level III Examination focuses on:
Classroom Structure
To be updated;
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Exam format
The Level III exam uses the essay format in the morning, and the item set format, with 10 item sets, in the afternoon similar to CFA Level II exam. Each item set on the CFA exam consists of a vignette (or case statement) and six multiple choice items (questions). Each multiple choice question has three possible choices: A, B, and C. All questions are equally weighted and there is no penalty for wrong answers.
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