All YOU NEED TO KNOW ABOUT THE CFA® EXAM
The CFA® Program prepares you for a three-part exam, designed to demonstrate your investment decision-making abilities.
ContentThe CFA® Program curriculum reflects the investment profession's current theory and practices with an emphasis on asset valuation and portfolio management.
|Level I||Level II||Level III|
|Ethical and Professional Standards||15%||10-15%||10-15%|
|Financial Reporting and Analysis||20%||15-20%||0%|
|Portfolio Management and Wealth Planning||7%||5-10%||40-55%|
CFA® exam formatLevel I CFA® exam is administered twice a year: in June and December. Level II and Level III CFA® exams are only held once a year: on the first saturday of June.
- Exam Length: 6 hours
- Number of questions: 240 questions
- Type of questions: Multiple-choice questions (MCQ)
- Exam duration: 6 hours
- Number of questions: 120 questions
- Type of questions: Item Sets
- Exam Duration: 6 heures
- Number of questions: Essay + 60 questions
- Type of questions: Item sets and essay
Type of questionsYou’ll find three types of questions tested on the CFA® exam
MCQSentence completion or questions with three unique choices.
Item SetsEach item set or “mini-case” will include six multiple choice questions.
EssaysThese questions require that you write your answers on the lined page(s) following the question or you provide answers in a template. Always make sure you read the question thoroughly & follow directions (available at the top of the page heading (or) above the questions).
Official Pass Rates of CFA®You’ll find three types of questions tested on the CFA® exam
December 2017 Level I
June 2017 Level I
June 2017 Level II