CFA^® Exam Prep Platform
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To sit for the CFA exams, you should meet the following requirements:

Bachelor’s Degree: Complete a bachelor’s degree or an equivalent university program. Besides, you should check with your college if your program matches the required degree qualification.

Or

Undergraduate student: The exam window you select should be 23 months or less before your graduation month. However, you should have completed your degree or equivalent program before the slotted CFA level 2 exam dates.

Or

Professional work experience: Have at least 4000 hours of work experience or a combination of work experience and higher education that totals 4000 hours. Nevertheless, the dates of professional experience and education must not overlap.

There’s a one-time enrollment fee of USD 350 when you register for the CFA program and Level 1 exam. This fee will not be applied to subsequent exams. Candidates pay USD 900 for early registration, while standard registration costs USD 1200. In case you want to reschedule your exam appointment within your exam window, a scheduling fee of USD 250 applies.

Each level of the CFA exams presents its own challenges, and the difficulty level of any given CFA exam varies each year. Most candidates consider CFA Level III the hardest owing to the time and thought process needed for candidates to answer the constructed responses correctly. Nevertheless, your level of preparation determines how well you perform in the three CFA levels.

The minimum passing score (MPS) for each level of the exam is determined by the CFA Institute each year after the administration of the exams. The MPS has never been released.

Passing all three levels of the CFA exam in order (Level I, Level II, and Level III) is a must for you to become a CFA charter holder. Aspirants must also have related work experience in a role that directly involves the investment decision-making process or produce a work product that informs or adds value to this process. Lastly, in support of your membership application, you must provide at least 2 – 3 professional references who will comment on your work experience and professional character.

CFA pass rates for all three exam levels vary each year, depending on the candidates’ overall performance at each particular time. The current pass rates based on the most recent exam period are:

CFA Level I – 37%, CFA Level II – 43%, and CFA Level III – 48%.

CFA exam results are usually available about 5-8 weeks after the close of an exam window, depending on the CFA exam level. CFA Levels 1 and 2 results can be accessed within 60 days of the exam, while CFA Level III results are available within 90. The CFA Institute will notify you as soon as the results are out.

According to Payscale, a CFA charter holder in the USA earns an average of USD102000 annually. However, the pay scale for different designations depends on the job type and function. Here’s a breakdown of the salary range for common CFA job titles according to the CFA Institute:

Portfolio Manager: Base salary of USD 126k per year.

Research Analyst: Base salary of USD 100k per year.

Chief Executives: Base salary of USD 410k per year.

Corporate Financial Analyst: Base salary of USD 81k per year.

Risk Manager: Base salary of USD 105k per year.

Relationship Manager: Base salary of USD 120k per year.