About the CFA® Exam


What is the CFA Program?

The CFA Program is a self-study, graduate-level program for investment professionals. The program requires you to study for and pass three levels of exams. If you pass the exams and meet other requirements, you earn a CFA charter.

Exams for all levels are held in locations around the world. Level I exams are held in June and December. Levels II and III are only held in June.

You can take as long as you need to complete the program, and there is no limit to the number of times you can take each exam. The curriculum changes each year to meet the dynamic nature and complexity of the global investment profession.

CFA Program Entrance Requirements

  1. Have a U.S. bachelor's (or equivalent) degree or be in the final year of your bachelor's degree program at the time of registration, scheduled to receive a bachelor's degree (students who successfully complete Level I of the CFA examination will not be allowed to progress to Level II until CFA Institute receives degree confirmation); or have four years of qualified, professional work experience or a combination of work and college experience that totals at least four years.
  2. Meet the professional conduct admission criteria (during the application process, you will be asked to sign statements of Professional Conduct and Candidate Responsibility).
  3. Be prepared to take the exams in English.
  4. Sign up for your first exam. Registering for the first exam also enrolls you as a candidate in the CFA Program. This requires a one-time program enrollment fee in addition to the exam registration fee.

Click here to learn more about the CFA Program and to register for the exam.