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CFA 2020: Application Form, Exam Date, Eligibility, Pattern, Admit Card, Result

Updated on - Jul 13th, 2020 | 11:16 AM by Eva Mathews

Much like the CA (Chartered Accountant), CMA (Chartered Management Accountant) certifications, Chartered Financial Analyst (CFA) is a sought-after professional finance certification offered to finance and investment professionals by the American CFA Institute. About 2.5 lakh people attempt this exam from around the world every year. It is a challenging exam that requires ample practice, preparation, and strategy to clear.

Latest Updates

  • The registration for all the Level-I of the CFA 2020 exam has begun. Aspiring candidates can start applying and submit applications on the official website. The Level-I exam which is to be held on December 5, 2020, will be the last paper-based test conducted by the CFA Institute. Post this, all exams will be computer-based tests.
  • The registration for the Level-II and Level-III of the CFA exam will begin on August 18, 2020.

 

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 the many other areas of finance.
  • Conducting Body: CFA examination will be conducted by the CFA Institute, United States of America.
  • Level of Exam: CFA is an International Level exam. In India, it is conducted in Four cities New Delhi, Bengaluru, Kolkata, and Mumbai.
  • CFA Pattern: CFA is conducted Twice a year in Three Levels- Level-I, Level-II, Level-III.

CFA 2020 Highlights

Given below are the highlights of the CFA exam. Continue reading further to get a complete picture of the CFA Exam.

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-I: 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-II: Important Dates

Event Date
Registration Begins August 18, 2020
Standard Registration Fee Deadline February 17, 2021
Final (Late) Registration Fee Deadline March 17, 2021
Exam Day (AMER, EMEA, APAC) - Level 2 & 3 June 5, 2021

Level-III: Important Dates 

Event Date
Registration Begins August 18, 2020
Standard Registration Fee Deadline February 17, 2021
Final (Late) Registration Fee Deadline March 17, 2021
Exam Day (AMER, EMEA, APAC) - Level 2 & 3 June 5, 2021

 

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's 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's 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 the 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, the Candidate can log in and fill-up the form providing all the required information.

CFA 2020 Application Form

  • 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 32065

    INR 32065

    INR 32065

    CFA Exam Registration Fee

    INR 46316

    INR 67692

    INR 98331

CFA 2020 Exam Centre

  • CFA is 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 the 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 before 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 the admit card reflects CFA records. If the information does not exactly match what appears on a 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 results, 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.

Frequently Asked Questions

To apply for the CFA exam, a candidate must satisfy the following criteria:

  • For level-I:
    • 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.
  • For Level-II:
    • Candidate should have a Bachelor's Degree.
    • A candidate shall have Work Experience of 4 years or a combination of work and college that totals four years.
  • For Level-III:
    • Candidate should have a Bachelor's Degree.
    • Candidates should clear Level-I and Level-II exams.

There is no limit on the number of attempts for the CFA Exam. However, it is an expensive exam and program to enroll in. It becomes important to work hard and clear the exam in the first attempt, ideally.

As an international-level exam, a CFA certification will enable a finance professional to seek employment in several countries abroad as a financier or a financial analyst.

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