Latest News /
Registration for CFA Prep Courses for June 2019 Exam (Levels I, II, and III) are Now Available. Save 10% on Premium Packages when you register by October 31!

About CFA Exam

The CFA Program is a globally recognized, graduate level curriculum that provides a strong foundation of real-world investment analysis and portfolio management skills along with the practical knowledge you need in today’s investment industry. It also emphasizes the highest ethical and professional standards.


CFA® Exam Format and Structure

Level I: : Multiple Choice Questions consists of 240 multiple choice questions, each item consists of a question, a statement, and/or table and three answer choices: A, B, and C.On average you should allow approximately 90 seconds for each multiple choice question. You may need more or less time, depending on the question and how well you understand the topic.(examples question) that split between two 3-hour sessions. Candidates must attend both sessions.

  • Morning session (3 hours): 120 multiple choice questions, covering all topics
  • Afternoon session (3 hours): 120 multiple choice questions, covering all topics
  • Level II: Item Set Questions has a total of 20 item set questions (20 vignettes with 6 items each) that split to two sessions in the morning and afternoon. The Level II exam is worth 360 points, corresponding to the number of minutes on the exam. The 120 Level II items are equally weighted, 3 points each, with no penalty for incorrect answers. Some topics are covered in the morning session only and other topics are covered in the afternoon session only.(examples question)

    Level III: Essay Questions consists of item set and constructed response (essay) questions:

  • Morning session: Constructed response (essay) questions (usually between 8 and 12 questions, each with several — subparts) with a maximum of 180 points. (The point value for each question is provided in the exam book.)
  • Afternoon session: 10 item set questions


    Exam Topic Area Weights

    Topic Area Weights CFA Level 1 CFA Level 2 CFA Level 3
    Ethical and Professional Standards
    15%
    10% – 15%
    10% – 15%
    Quantitative Methods
    10%
    5% – 10%
    0
    Economics
    10%
    5% – 10%
    5% – 10%
    Financial Reporting and Analysis
    15%
    10% – 15%
    0
    Corporate Finance
    10%
    5% – 10%
    0
    Equity Investments
    11%
    10% – 15%
    10% – 15%
    Fixed Income
    11%
    10% – 15%
    15% – 20%
    Derivatives
    6%
    5% – 10%
    5% – 10%
    Alternative Investments
    6%
    5% – 10%
    5% – 10%
    Portfolio Management and Wealth Planning
    4% – 6%
    5% – 15%
    35% – 40%

    Source Reference: CFA institute, 2019 exam onwards


    Exam Fee and registration

    Level I exams: offered in December and June
    Level II and III exams: offered in June only

    Registration usually opens about 11 months before each exam; register early to take advantage of the fee schedule and to have enough time to study and prepare for the exam. To see the enrollment fee.


    CFA Exam Approved Calculators

    CFA Institute permits candidates to use only two models of business calculators on the CFA Examinations. These are:

    cal


    CFA® Candidates Candidate Eligibility Requirements

    The following are the entrance requirements for enrolling in the CFA Exam:

    • Have a bachelor’s (or equivalent) degree
    • Or be in the final year of your bachelor’s degree program at the time of registration
    • Or have four years of professional work experience (does not have to be investment related)
    • Or have a combination of professional work and college experience that totals at least four years. Part-time positions do not qualify, and the four-year total must be accrued prior to enrollment
    • Have a valid passport ( not expire before an exam date)


    To earn a CFA Charter

    CFA Institute has established the following requirements for achieving the CFA charter:

    • Successful completion of Levels I, II, and III examinations
    • Have a 4 years of qualified investment work experience.
    • Membership in CFA Institute.
    • Apply for membership to a local CFA Institute society (CFA society of Thailand)
    • Pledge to adhere to the CFA Institute Code of Ethics and Standards of Professional Conduct