The CFA® Program
"Our favourite holding period is forever."
Warren Buffett
What is the CFA® Program?
The CFA charter was first awarded in 1963 and since then the Program has grown to become the benchmark of excellence in the investment industry worldwide. The Program now attracts more than 200,000 candidates (from over 160 countries) to the exam each year, and the number of CFA charterholders currently stands at around 80,000.
In three successive exams you will be assessed on a wide range of subjects including ethics, quantitative techniques, economics, financial statement analysis, corporate finance, equity, debt, derivatives, alternative investments and portfolio management. The knowledge you gain while studying will be invaluable to your future career and the CFA charter has become universally recognised by employers and investors as a mark of excellence and integrity within their profession.
For more information please see CFA Institute’s website at www.cfainstitute.org
What are the entry requirements?
In order to enrol on the Program you need to have either:
- a US bachelor’s degree (or equivalent) OR
- four years of professional work experience OR
- a combination of the two that totals four years
It is possible to enrol for Level I if you are in your final year of a degree course, though you will need to have received the degree before enrolling for Level II. As well as the academic or work experience you must sign a statement of professional conduct and pay the exam fees to CFA Institute.
What are the fees?
Two fees are payable to CFA Institute: a one-off Program Enrolment fee and an Exam Registration fee. In order to encourage candidates to start studying early the fees are staggered, depending on when the candidate registers:
For December 2010:
| deadline | 17 March 2010 | 24 August 2010 | 15 September 2010 |
|---|---|---|---|
| Program Enrolment Fee* | US$400 | US$400 | US$480 |
| exam Registration fee | US$620 | US$710 | US$955 |
| total fee | US$1020 | US$1110 | US$1435 |
*The Program Enrolment fee applies only to first time Level I candidates. Candidates for Levels II and III or candidates resitting Level I should pay just the Exam Registration fee.
It is not necessary to be registered with CFA Institute prior to enrolling with Quartic Training, though if you are in any doubt over your eligibility as a candidate we strongly recommend that you seek clarification from CFA Institute before committing to course fees.
How can CFA Institute be contacted?
By e-mail: info@cfainstitute.org
By telephone: +1 434 951 5499
For other contact details please see the contact page on their website.
What are the requirements to become a CFA® charterholder?
In order to receive your CFA charter you must have achieved the following:
- You must pass all three levels of the CFA exam
- You need to have 48 months of relevant work experience
- You must become a regular member of CFA Institute.
The work experience can be gained before, during or after studying for the exams. This experience can be in a wide range of activities, including financial, economic or statistical analysis as part of the investment decision-making process, supervising staff who are performing these activities or teaching the skills involved. At least 50 percent of your time must be spent in these activities and part-time roles are excluded. Job titles themselves are less important than the nature of the activity when assessing work experience. See here for more details, including a list of sample job titles.
Isn’t it supposed to be really difficult?
Yes. You should aim to spend at least 250 to 300 hours studying for each level of the Program. Quartic will give you full guidance on how to study and candidates who show commitment from the start of the course have a far greater chance of success.
How quickly can I get through the Program?
The Level I exam is conducted twice a year, in June and December, while Levels II and III are just once a year in June.
Hence for candidates sitting Level I in June of a particular year, the fastest route would be Level II in June the following year and Level III the June after that.
For candidates sitting Level I in December, the results will be known in time to register for Level II the following June, with Level III a year later.
What courses does Quartic Training offer?
We offer a wide range of courses for the CFA exam. For professional candidates please click here. Full-time candidates should click here. If you would like to know more about our financial markets courses then please follow this link.
CFA Institute does not endorse or warrant the accuracy or quality of the products or services offered by Quartic Training. CFA Institute, CFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute.