CFA 2020: Exam Dates, Exam Pattern, Eligibility Criteria, Application, Syllabus, Results
Latest Update: The registration for all the levels of the CFA 2020 exam has started. Interested candidates can start applying and submit applications before the respective last dates.
What is CFA?
- About CFA: Chartered Financial Analyst (CFA) Program is a professional credential offered internationally by the American-based CFA Institute to investment and financial professionals.
- Area of Concern: The program covers a broad range of topics relating to investment management, financial analysis, quantitative analysis, equities, fixed income and derivatives, and provides a generalist knowledge of other areas of finance.
- Conducting Body: CFA examination will be conducted by CFA Institue.
- Level of Exam: CFA is an International Level exam. In India, it is conducted in Four cities New Dehli, Banglore, Kolkata and Mumbai.
- CFA Pattern: Examination is conducted Twice a year in Three Levels (Level-I, Level-II, Level-III).
CFA 2020 Highlights
| Exam Name |
Chartered Financial Analyst |
| Acronym |
CFA |
| Conducting Body |
CFA Institue |
| Level |
National |
| Frequency |
Twice a Year |
| Mode |
Online |
| Duration |
90 mins |
| Language |
English |
| Purpose |
To grant ‘CFA charter’ to investment and financial professionals |
| Course Offered |
CFA Programme |
| Official Website |
cfainstitute.org |
CFA 2020 Exam Dates:
- CFA Exam includes Three Series of Exam: Level-I, Level-II, Level-III.
- Registration: The registration process for all three levels will start on the same day.
- Admit Card: The Admit Cards can be downloaded from the official website on the dates mentioned for the respective levels.
- Examination Dates: The examination dates for the three levels will be different to counter the availability of exam centres and to accommodate the number of candidates the apply for the examinations.
CFA 2020 Schedule and Dates
Level 1: June Session - Important Dates
| Event |
Date |
| Standard Registration Fee Deadline |
February 20, 2020 |
| Final (Late) Registration Fee Deadline |
March 11, 2020 |
| Level 1 Exam (AMER and EMEA) |
June 6, 2020 |
| Level 1 Exam (APAC) |
June 7, 2020 |
Level 1: December Session - Important Dates
| Event |
Date |
| Registration Opens |
February 5, 2020 |
| Early Registration Fee Deadline |
March 25, 2020 |
| Standard Registration Fee Deadline |
August 19, 2020 |
| Final (Late) Registration Fee Deadline |
September 9, 2020 |
| Level 1 Exam |
December 5, 2020 |
Level 2 and Level 3 - Important Dates
| Event |
Date |
| Standard Registration Fee Deadline |
February 20, 2020 |
| Final (Late) Registration Fee Deadline |
March 11, 2020 |
| Exam Day (AMER, EMEA, APAC) - Level 2 & 3 |
June 6, 2020 |
CFA 2020 Exam Pattern
- The examination is conducted for 6 hours per day and 3 hours per session.
- CFA exam is conducted in two sessions per day, Morning session is of 3 hours from 9 am to 12 pm similarly, the Afternoon session is also 3 hours from 2 pm to 5 pm.
| Level of Exam |
No.of Multiple Choice Questions(MCQ's) |
Duration of Examination |
Morning Session |
Afternoon Session |
| Level-I |
240 |
3 hours |
120 Questions are to be answered |
120 Questions are to be answered |
| Level-II |
120 |
3 hours |
10 set of 6 Questions in each set |
10 set of 6 Questions in each set |
| Level-III |
120 |
3 hours |
60 Questions |
60 Questions |
CFA 2020 Eligibility Criteria
The Eligibility Criteria for any Candidate to apply the CFA Exam,
- Level-I Eligibility Criteria:
- The candidate shall pursue in Final Year of any Bachelor Degree Program.
- The candidate shall also be a Bachelor Degree holder.
- The candidate shall have Work Experience of 4 years or a combination of work and college that totals four years.
- Level-II Eligibility Criteria:
- Candidate should have a Bachelor Degree.
- A candidate shall have Work Experience of 4 years or a combination of work and college that totals four years.
- Level-III Eligibility Criteria:
- Candidate should have a Bachelor Degree.
- Candidates should clear Level-I and Level-II exams.
CFA 2020 Application Process
- Online Application: Candidates who meet the eligibility Criteria can apply for CFA examination.
- Create a login account with your email ID.
- Candidate needs to enter their name, email ID, password, and enter a security question.
- After creating an account, Candidate can log in and fill up the form providing all the required information.
- Registration fee: Registration fee
- Fee Payment Process
- Fee payment can be made online with the help of a Credit card: American Express, Diner’s Club, Discover, JCB, MasterCard, UnionPay, or Visa
- Offline payment can be made through wire transfer, ACH, check money order, or postal order.
- Receipt of payment of the fees will be emailed to the candidates.
- Enrollment and Registration fee
| Before early fee Deadline |
Before Standard fee Dead Line |
Before Late Fee Dead Line |
| CFA Program Enrollment Fee |
INR 32,065 |
INR 32,065 |
INR 32,065 |
| CFA Exam Registration Fee |
INR 46,316 |
INR 67,692 |
INR 98331 |
CFA 2020 Exam Centre
- CFA in an International wide examination, CFA 2019 exam in India will be conducted in Banglore, Kolkata, Mumbai, New Dehli.
- Institute will assign a test centre to candidates taking into account their requested exam location based on availability.
- CFA Institute will make effort to place candidates in the test centre location as requested however, space considerations may require placing some candidates at alternate sites.
- If Candidate needs a visa to travel to a distant test centre, its candidates' responsibility to make arrangements well in advance.
- Final test centre confirmation will be displayed on candidates exam Admission card, available several weeks prior to the exam.
CFA 2020 Admit Card
- Candidates shall be allowed to the exam hall if he/she has a valid, unexpired, international travel passport (review the Identification Policy) and a valid exam admission ticket.
- For January 1, 1970 and January 1, 1970 exam, the admission card will be available from January 1, 1970
- Access Admit Card: Before viewing the admission card, candidates will be prompted to read and agree to the conditions, requirements, policies, and procedures for the CFA exam.
- Print Admit Card: Candidate shall take print of Admit Card on clean, unused paper. Candidate must not write on the front or back of your exam admission ticket at any time.
- Review Your Ticket: Make sure printed admit card displays all the information correctly,
- CFA Institute ID number.
- Last four characters of passport number.
- Name as it appears in your CFA Institute account.
- Passport expiration date.
- The name, date, and location of the test centre where is it assigned to take the exam
- Confirm or Update Name or Passport Information: The information on admit card reflects CFA records. If the information does not exactly match what appears on valid, unexpired, international travel passport, the candidate will not be permitted to sit for the exam and will forfeit the registration fee.
- Login to confirm or update the information: To update information in an account,
- Submit the Identification Information.
- Login and make the changes.
- Submit or Update the changes.
- Remember: Reprint the admit card after updating the information.
CFA 2020 Syllabus
CFA 2020 Level-I Syllabus
| Subjects |
Weightage |
| Ethical and Professional Standards |
15% |
| Quantitative Methods |
10% |
| Economics |
10% |
| Financial Reporting and Analysis |
15% |
| Corporate Finance |
10% |
| Equity Investments |
11% |
| Fixed Income |
11% |
| Derivatives |
6% |
| Alternative Investments |
6% |
| Portfolio Managemen |
6% |
CFA 2020 Level-II Syllabus
| Subjects |
Weightage |
| Ethical and Professional Standards |
10%-15% |
| Quantitative Methods |
5%-10% |
| Economics |
5%-10% |
| Financial Reporting and Analysis |
10%-15% |
| Corporate Finance |
5%-10% |
| Equity Investments |
10%-15% |
| Fixed Income |
10%-15% |
| Derivatives |
5%-10% |
| Alternative Investments |
5%-10% |
| Portfolio Managemen |
5%-15% |
CFA 2020 Level-III Syllabus
| Subjects |
Weightage |
| Ethical and Professional Standards |
10%-15% |
| Economics |
5%-10% |
| Equity Investments |
10%-15% |
| Fixed Income |
15%-20% |
| Derivatives |
5%-10% |
| Alternative Investments |
5%-10% |
| Portfolio Managemen |
35%-40% |
CFA 2020 Results
- Each candidate who appears for a CFA Program exam is provided with a "pass" or "did not pass" exam result as well as detailed information on their performance.
- After each exam, the CFA Institute Board of Governors sets the minimum passing score (MPS) for each level.
- The results will be available for download on the official website for about a year.
- After candidates receive their exam result, they may register for the next exam.
- After that, the candidate will have to request an official letter. This letter will be confirming their "pass" or "did not pass" status, but their topic area performance summary will no longer be available.
- Detailed exam scores and responses to exam questions, however, are not shared with the candidates as CFA Institute officially owns them.
- Level, I and Level II candidates, will be able to see their result within 60 days of the exam and for Level III candidates within 90 days.
- Candidates can check results on January 1, 1970 on CFA Official website.
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