What is CFA 2021? How students can apply for this exam?
CFA exam is the short form of the Chartered Financial Analyst exam, a global level exam.
CFA is basically a course that aims to impart various financial and management skills to the candidates. There are three levels of this exam, namely Level I II and III. To pass these three levels is mandatory for all aspirants.
CFA will conduct Level I from this year four times a year, while Level II and III two times a year.
Chartered Financial Analyst Institute (CFA Exam): The Chartered Financial Analyst (CFA) program is a course that offers the aspirant a chance to become a recognized CFA holder. As the course name suggests, the CFA Institute is in charge of conducting the program, including administering the exams. An aspirant must go through all three curriculum levels and pass each of these level exams. It’s the responsibility of the aspirant to register for the exam before the deadline.
CFA 2021 Exam Highlights:
|Exam Name||Chartered Financial Analyst|
|Conducting Body||CFA Institue|
|Frequency||Twice a Year|
|Course Offered||CFA Programme|
CFA 2021 Exam Registration:
As mentioned above, the CFA Institute allows any willing applicant to register for any of the three-level exams online. All an applicant needs to do is to visit the college’s website to register. Some of the necessary details to submit include academic history, applicant’s signature, official conduct statement. Usually, CFA college offers a level CFA exam in December, every year.
Registration opens from the last week of January every year and runs up to September. Applicants must also pay a fee that depends on the level of the exam. Level I exam attracts a fee of $450. An aspirant must also provide employment status info for their application to be processed.
An aspirant is free to make payment using a credit card, wire transfer, money order, or postal order, Kindly note that the fee is non-refundable. Ensure that you carefully read the college policies. These policies are legally binding in the event of any disputes between any of the parties involved.
- The application cost will be variable for different stages for early payment. The fee is USD700; standard registration has a fee of USD1000, and the late registration fee is USD1450.
- There is a fee charge of USD450 for first-time registration.
CFA Exam Eligibility Criteria:
- An aspirant must be a Bachelor’s degree holder or a finalist; One of the primary requirements for a CFA course is that the applicant must be a degree holder. That’s not all; the aspirant must have a degree certificate from a reputable university.
- Note that this requirement mainly applies to an aspirant who wishes to sit for level 2 exams. For aspirants that want to sit for the level 1 exam, they must at least be in the final year of their degree course.
- An applicant must be a major; CFA requires the aspirant to have attained the age of majority. It is because the aspirant must have a national identification card or a valid passport for international aspirants.
- An aspirant must have four years’ professional work experience or more; For an aspirant to qualify to study the CFA program and later sit for the level exam, they must be experienced. This work experience is highly essential in the understanding of the CFA syllabus. It mainly applies to aspirants that wish to apply for either level II or level III exams.
- The aspirant must note that the requirements demand the aspirant to be a full-time worker. The requirements exclude part-time work experience.
- An applicant must also provide valid info for identification purposes; An aspirant must register and provide all the essential info such as country, full names, city, academic info, among others. Any aspirant that submits incorrect details is immediately declared ineligible. For that reason, their college immediately rejects their application.
- An aspirant must be a resident of a participatory state; Only specific countries offer CFA programs to willing aspirants. Therefore, the aspirant must be from a participatory country for their application to be approved.
CFA 2021 Exam pattern:
The CFA-2021 will be in the following manner:
- From 2021 the exam for all levels will be computer-based.
- The Level-I will occur four times in a year each second week of the 1) Feb, 2) May, 3) August, and 4) November. Level I and II two times in the year.
- The exam for three levels will continue for up to ten days.
- The question will reduce to 180, which were previously 280.
- The CFA 2021 will occur in two sessions, one in the morning and a second in the evening for each level. Both sessions will have equal marks division, i.e., 90 questions in each session.
- Each session of the three levels will have a duration of 02:15 hours, i.e., 135 minutes. Hence the total time of the two sessions is 04:30 hours.
- Note that the morning session of the level-III exam will be an essay writing session.
CFA 2021 Preparation Tips:
- CFA is a fundamental exam, and its preparation needs time as well as proper planning.
- Study properly without wasting time, consult a teacher, or join an academy if possible for you.
- For preparing properly, your health must also be proper, so keep yourself healthy.
CFA 2021 Exam Important Dates:
|CFA Level 1, 2, 3 Exam 2021||June 2021 dates|
|Registration opens on||08-Aug-21|
|Deadline for the early registration fee||02-Oct-21|
|The standard registration fee deadline is||12-Feb-21|
|Last day to pay the late fee||11-Mar-21|
|Religious alternate date requests are due||16-Mar-21|
|CFA 2021 exam date for the Asia Pacific (Levels II and III); Americas and EMEA (all levels)||06-Jun-21|
|CFA 2021 exam date for the Asia Pacific (Level I only)||07-Jun-21|
|Alternate exam date for the Americas and EMEA, all levels||07-Jun-21|
|Alternate exam date for the Asia Pacific, all levels||08-Jun-21|
CFA Exam Levels:
CFA exam structure varies depending on the three levels.
CFA Level 1 Exams
CFA level 1 exam features a total of 240 multiple-choice questions. The exam has a total duration of 6 hours. Aspirants tackle the first 120 questions in 3 hours during the morning session. During the afternoon session, aspirants attempt the remaining 120 questions in 3 hours as well. The examining body only allows the aspirant to select one option out of those provided.
CFA Level 2 Exams
CFA level 2 exams consist of 120 questions, unlike the level 1 exam. Additionally, the review accounts for a total of 360 marks. Luckily for the aspirants, the exam body prohibits negative marking. An aspirant earns 3 points for each correct answer they provide. Just like the CFA level 1 exam, the Level 2 test takes place both during the morning session as well as the afternoon session.
CFA Level 3 Exams
The CFA level 3 exams only comprise essay questions. Usually, the exam has a total of between 8 to 12 main items with a few sub-questions. The review has a staggering total of 180 points. This level 3 test occurs both during the morning session and the afternoon session.
Frequently Asked Questions:
There are three levels in total.
It is $450.
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