All about the CFA exam
To become one of those professionals recognized internationally in the field of investments is to take the Chartered Financial Analyst (CFA) exam.
To pass the CFA exam is to pass the complete three series of exam as given by the CFA Institute of USA over three years. The exam series is according to level, level 1, level 2 and level 3. The exam is given every year, usually set during the 1st week of June. However, for Level 1 this exam is held twice a year during June and December. The exams are administered on paper and must be taken on the day as set by the CFA Institute. Takers are given 6 hours on each level to answer the examination. The exam fee ranges from $600 to $930.
The following are the descriptions of the levels and the type of questions given for each level:
۱٫ The Level I covers questions on the tools and inputs and introduction to asset valuation and portfolio management techniques. It is a multiple-choice question.
۲٫ The Level II covers questions on asset valuation and the applications of the tools and inputs (including economics, financial statement analysis, and quantitative methods) in asset valuation. The question is an item set where a vignette is followed by selected response questions.
۳٫ The Level III covers questions on portfolio management and strategies. The candidate is required to answer short answer questions and an item /multiple set question.
The CFA exam gives a score report of a Pass/Fail report. There is no overall score given. The passing score is set by the Board of Governors after each exam.
by Korbin Howard