• Globally recognized professional credential
  • Demonstrates one as a skilled finance and investment professional
  • Demonstrates one’s practical skills on finance
  • Improves job performance
  • Opens up greater prospects in the career field

Exam Structure

CFA Exam has three levels which need to be passed sequentially in order to gain the CFA Charter. Level I exam is scheduled in June and December (first Saturday) each year and Level II exam is scheduled only in June (first Saturday) every year. One can register for only one exam at a time. Each exam is conducted in two sessions (morning and afternoon) with duration of 3 hours for each session.


Exam Focus

Question Format

No. of Questions

Level I

Basic knowledge focused on investment tools some analysis

Multiple Choice Questions

240 (120 in each session)

Exam Fee Schedule

For June 2014 Exam (in US $)


First deadline
25 September 2013

Second deadline
12 February 2014

Final deadline
12 March 2014

First time enrolment fee

Deadline over



Exam Registration

Deadline over




Deadline over

$1,240 $1,610

Q. What is the accreditation of CFA course of Simplilearn?

Simplilearn is listed on CFA Institute Prep Providers for CFA Level I training.  We follow CFA Institute Prep Provider Guidelines.

Q. How can I become a CFA® charter holder?     

Following criteria needs to be fulfilled to become a CFA charter holder

  • Clear CFA® Level 1, 2, and 3 exams
  • Have four years of qualified investment work experience
  • Become a member of CFA Institute
  • Pledge to adhere to the CFA Institute Code of Ethics and Standards of Professional Conduct

Q. How much time does it take to complete the CFA® program?            

Completing the program (all three CFA® Levels) usually takes as little as 18 months, but there is no limit on the number of attempts at any exam level or the time taken to complete each level.

Q. What are the eligibility requirements to appear for the CFA® level 1 exam?   

The main eligibility requirements for a candidate are:    

  • A completed bachelors or equivalent degree, OR
  • Be in the final year of a bachelor’s degree program at the time of registration, OR
  • Have 4 years of professional work experience – can be non-investment related, OR
  • Have a combination of full time professional experience and college education that totals at least 4 years                                            

Q. Are there any scholarships for the CFA® program?    

CFA Institute provides two kinds of scholarships for CFA® exam candidates:

  1. ACCESS SCHOLARSHIPS: This is a needs-based scholarship that can be availed by up to 2500 candidates who are not able to afford the full price of the CFA® program enrollment and registration fees.
  2. AWARENESS SCHOLARSHIPS: Awareness scholarships are awarded in three situations
    • Candidate is sponsored by a full time faculty member who is also a CFA® charterholder in good standing at the student’s university
    • Candidate is a student at a college or university that is part of CFA® Institute’s CFA® Program Partners initiative and University Recognition Program
    • Candidate is a full-time college or university finance professor

Awareness scholarships bring down the CFA® Program enrollment and exam registration fees to $350, including the CFA® Program eBook. More details on scholarships at the CFA Institute scholarships' page

Q. What topics will I see on the exam during the morning session or during the afternoon session?

Traditionally on CFA Level I, all topics included in the CFA Level I exam syllabus are covered in the morning session and the same topics are covered again (with different questions) in the afternoon session.

Q. If I pass the CFA Level I exam in December, can I register for the CFA Level II exam held the following June?

Yes, candidates who pass CFA Level I exam in December can register for the CFA Level II exam held the following June. Candidates should consider whether they will have enough time to prepare for CFA Level II exam, given the approximately four-month period remaining until the June exam.

Q. Do I have to pass each of the individual topic areas in order to pass an exam level?

No. As long as you achieve a total score above the minimum passing score (MPS) set by the CFA Institute Board of Governors, you would pass the exam regardless of your performance on any individual topic.

Q. What is the pass rate for the CFA® level I exam?         

Pass rates for the CFA® level I exam have consistently come down over the years. The pass rate for the June 2012 exam was 38%

At CFA Level I exam, questions asked are related to basic knowledge and comprehension focusing on asset valuation. Some questions require performing analysis.


  • Tools and concepts that apply to investment valuation and portfolio management
  • Basic concepts regarding asset classes, securities, and markets
  • CFA Institute Code of Ethics and Standards of Professional Conduct

Exam Topic Coverage

Topic Area

Level I

Level II

Level III

Ethical and Professional Standards (total)




Quantitative Methods








Financial Reporting and Analysis




Corporate Finance




Investment Tools (total)




Equity Investments




Fixed Income








Alternative Investments




Asset Classes (total)




Portfolio Management and Wealth Planning (total)




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