The Chartered Financial Analyst (CFA) Program offers the most comprehensive set of advanced investment, analysis, and portfolio management skills available. The CFA test is a professional exam. The exam consists of three distinct levels: Level I, Level II, and Level III. As a result, each applicant could only acquire either “pass” or “did not pass.” Candidates can see a full analysis of their achievements in each section as well. Individual question outcomes are not visible to candidates.

When results are delivered, applicants can enroll for the following test level. If they did not pass, the Candidate can re-register for a similar level right away. Candidates can re-take any level of the Chartered Financial Analyst test a limitless number of times. 

Level I Exam: 

To appear for the level I of the three CFA exams, the Candidate will have to complete a bachelor’s degree or be in the final year of college, have four years of professional full-time job experience, or have a combination of professional experience and college totalling at least for four years. The Level I exam contains 240 multiple-choice questions, distributed equally over two sessions.

Level II Exam:

To appear for the Level II Exam, Candidates must have passed the Level I CFA and completed their Bachelor’s Degree. The structure of this exam is slightly different from the CFA Level I exam. There are multiple questions presented in the 20 vignettes, each one has six following questions.

Level III Exam:

In the CFA Level III exam, there are eight to 12 essay questions during the first half and 10 vignettes followed by six questions each during the second half of the session. Before sitting for this test, the candidate must pass Level II of the CFA exam.

CFA Test results are released within 60 days of the Level I and Level II exam. For the CFA Level III test, results will be available after 90 days.

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