What is CFA Program?

The Chartered Financial Analyst® (CFA) is one the most respected and recognized investment designation in the world. The CFA Program curriculum covers concepts and skills which you will use at all stages of your career. The Program connects academic theory with current practice and ethical and professional standards to build a strong foundation of investment analysis, corporate finance, valuations, portfolio Management and Global Finance.

It is the globally recognized mark of distinction and benchmark for measuring the expertise, experience, and ethics of investment professionals.

Eligibility for exam

You need to be a graduate or should be in final year of graduation to appear for the CFA Exams. To appear for CFA Level 2 exam, you must have completed your graduation at the time of registering for the exam. For further details on the eligibility criteria click on http://www.cfainstitute.org/cfaprogram/process/Pages/index.aspx

Cookbook for CFA exam

The curriculum is divided into 4 major areas:

  • Ethical and professional standards
  • Investment valuation and management which includes Quantitative Techniques, Economics, Financial Reporting and Analysis, Corporate Finance
  • Asset valuation comprises of Equity Valuation, Fixed Income Valuation, Derivatives management and Alternative Investments
  • Portfolio management
COURSE SUBJECTS (Weightage) Level I Level II Level III
Ethics 15% 10-15% 10%
Quantitative Techniques 12% 5-10% 0%
Economics 10% 5-10% 5-15%
Financial Reporting Analysis 20% 15-20% 0%
Corporate Finance 7% 5-10% 0%
Equity Investments 10% 15-25% 5-15%
Fixed Income 10% 10-20% 10-20%
Derivatives 5% 5-15% 5-15%
Alternative Investments 4% 5-10% 5-15%
Portfolio Management 7% 5-10% 40-55%

Exam structure

The exam is structured in three levels: Level I, II and III. Level I Exam is conducted twice every year on 1st Saturday of June and December. Level II and III Exams are conducted only once every year on 1st Saturday of June every year.

The Level I exams will include 240 multiple choice questions, divided between 2 exams held on the same day i.e. 120 on the ‘Morning Session’ and 120 questions on the ‘Afternoon Session’. Each multiple choice question has three possible answers: A, B, and C. All questions carry equal weight and there is no penalty for wrong answers.

Exam Format Type of Questions Number of Questions Duration of Exam
Level I Multiple Choice 240 Two Exams
on same day of
3 hours each
Level II Caselet based MCQ 120
Level III Morning session: Essay type,
Evening session: Caselet based MCQ
9 – 11 varies


Visit the CFA Website www.cfainstitute.org and create your login, and register for the exam online. You would need to fulfill your personal, professional details, select your test center, and pay up the exam fees.

Fees and modes of Payment

Payment deadlines (For June 2016 Exam) Program enrollment fees (new candidates only)
Exam registration Total cost
23 September 2015 $450 One Time only $650 1,100
17 February 2016 $860 1,310
16 March 2016 $1280 $1,730

For more details visit http://www.cfainstitute.org/cfaprogram/process/fees/Pages/index.aspx

What are the pass rates?

For historical pass rates of various exams visit the link below

Do I become a CFA charterholder by simply passing the 3 levels of the CFA Exam?

To become a CFA charterholder, you must:

  • Pass 3 rigorous six-hour exams – structured as Level 1, Level 2 and Level 3.
  • Have at least four years of professional investment experience.
  • Become a regular member of CFA Institute
  • Commit to abiding by CFA® Institute’s Code of Ethics and Standards of Professional Conduct.

Test centers in India

There are 6 test centers in India: Mumbai, Delhi, Chennai, Kolkata, Bangalore and Pune.

What is the scope for non-finance graduates?

If you are a non- finance graduate, it doesn’t matter, once you start with the preparation with us. All topics on the CFA Level 1 exam are designed to communicate the basics of finance in most simplistic way. Training with us, we ensure that all the fundamentals are properly understood by the candidates. So, Don’t limit yourself due to lack of financial knowledge.

Are there any specific industries whose work experience is required to gain CFA charter and does it have to be after I complete the CFA Exams?

Relevant work experience implies that your work should add value into the investment decision making process. This means, that you should be using on your job any part of the content that you are learning at the CFA. This 4 year work experience can be before, during or after your CFA Exams. Apart from clearing all levels, 4 years of relevant work experience is a must requirement to attain the CFA Charter. You can give the exams irrespective of your work experience and previous education or current profile.

For other queries contact us at cfec@chitkara.edu.in


CFA Institute does not endorse, promote, review or warrant the accuracy of the product or services offered by CFEC or verify or endorse the pass rates claimed by CFEC. CFA and Chartered Financial Analyst are the trademarks owned by the CFA Institute. Global Association of Risk Professionals TM, Inc. (GARP®) does not endorse, promote, review or warrant the accuracy of the products or services offered by CFEC for FRM® related information, nor does it endorse any pass rates claimed by the provider. Further, GARP is not responsible for any fees or costs paid by the user to CFEC nor is GARP® responsible for any fees or costs of any person or entity providing any services to CFEC Study Program. FRM®, GARP® and Global Association of Risk Professionals TM, are trademarks owned by the Global Association of Risk Professionals TM, Inc.