The CFA (Charted Financial Analyst) program is the most recognised and respected program throughout the world. It is an American Professional qualification and most respect investment designation.
The CFA Certification is offered by CFA Institute. After successful compilation of CFA, A candidate awarded by “CFA Charter” and becomes CFA Card Holder. CFA charter is professional credential but the level of the content of the CFA program has been recognised by the United Kingdom NARIC as being comparable in level to a QCF Level 7 (master’s degree).
As it is most difficult test, only 20% candidate pass the Exam in first attempt.
Why CFA Program?
The CFA program was developed as qualification for the financial professionals, in the field of Investment Management, stock analysis, Bonds and derivative products. The program focused on portfolio management and dept analysis of investment product.
The program includes a series of three Exams, Level-1, Level-2 and Level-3.
- Level I: Focuses on a basic knowledge of investment tools, along with some analysis
- Level II: Further emphasizes analysis along with application of investment tools and concepts
- Level III: Focuses on synthesizing all of the concepts and analytical methods in a variety of applications for effective portfolio management and wealth planning
- Level-1 : Multiple Choice
- Level-2 : Item Set
- Level-3 : essay questions and item set
All three exams are administered on paper on a single day; the Level I exam is administered twice a year (usually the first weekend of June and December). The Level II and III exams are administered once a year, usually the first weekend of June. Each exam consists of two three-hour sessions.
CFA : June 2014 Exam Schedule (Levels I, II, and III) :-
|Late July 2013||June 2014 exam registration opens|
|25-Sep-13||First fee schedule deadline for the June 2014 exam|
|Nov-13||Topic-based practice test and mocks exams become available|
|03-Feb-14||Awareness scholarship application deadline|
|12-Feb-14||Second fee schedule deadline for June 2014 exam|
|12-Mar-14||Final fee schedule deadline to register for June 2014 exam|
|24-Mar-14||Final deadline for disability and religious alternate date accommodation requests to be received by CFA Institute|
|14-Apr-14||Test center change request deadline|
|Early May 2014||Exam admission tickets become available|
|June–July 2014||Exams graded|
|July–August 2014||Exam results become available|
Pass Percentage :-
As CFA exam is very challenging , in 1013 only 38% of the candidate clear the first level , 43% in Level 2 and 49% in level 3 .
|Year||Level 1||Level 2||Level 3|
|2013 Pass %||38%||43%||49%|
|2012 Pass %||38%/37%||42%||52%|
|2011 Pass %||39%/38%||43%||51%|
|2010 Pass %||42%/36%||39%||46%|
|2009 Pass %||46%/34%||41%||49%|
|2008 Pass %||35%||46%||53%|
|2007 Pass %||39%||40%||50%|
|2006 Pass %||40%||48%||76%|
|2005 Pass %||35%||56%||55%|
|2004 Pass %||35%||32%||64%|
|2003 Pass %||41%||47%||68%|
|2002 Pass %||44%||47%||58%|
|Weighted Mean of Pass %||39.7%||44%||57.7%|
* Candidate must have bachelor or equivalent Degree
* Candidate must have valid Indian Passport
( Final Year student can also apply )