Frequently Asked Questions
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What is the CFA test?
The Chartered Financial Analyst (CFA) program is a professional certification offered internationally by the America based CFA Institute (formerly the Association for Investment Management and Research, or AIMR) to investment and financial professionals.
CFA Program includes a series of three exams: Levels I, II, and III. Each level of the curriculum builds on the prior level and becomes increasingly complex.
- The Level I exam consists of 180 multiple choice questions, split between two 135-minute sessions (session times are approximate). There is an optional break between sessions.
- The CFA Level II exam consists of 22 item sets comprised of vignettes with 88 accompanying multiple-choice questions. The Level II exam will be 4 hours and 24 minutes, split into two equal sessions of 2 hours and 12 minutes, with an optional break in-between.
- The Level III exam consists of item sets and constructed response (essay) sets. Both of these question types are comprised of vignettes with accompanying multiple-choice items for item sets and constructed response items for essay sets. The Level III exam will be 4 hours and 24 minutes, split into two equal sessions of 2 hours and 12 minutes, with an optional break in-between.
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Candidates are required to have their examination admission ticket and a valid ID card (Citizen ID card or Passport) with them in the exam room, and these documents should be placed on the table. In addition, candidates can bring a calculator, either a Texas Instruments BAII Plus/Professional or a Hewlett Packard 12C, including the Platinum version.
Candidates may also bring a calculator battery and earplugs if they find them necessary.
CFA exam results are typically announced within approximately 60 days for Levels I and II and 90 days for Level III. These results will be sent directly to each candidate's email.
To register for the SSAT test, please complete the registration process directly online by visiting the following link: https://portal.ssat.org/Account/LogOn.
