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.
Questions on the same topic
- Admission Ticket
- Valid identification documents used in registration
- An approved calculator by College Board with a functional battery
- Snacks and water
- Ballpoint pen, pencil, and eraser
- Mechanical watch
- Laptop, tablet, mouse, and battery charger (if applicable)
On the test date, candidates are required to arrive at the test venue at least 30 minutes before the check-in time and bring the ticket confirmation and a valid ID (such as an ID card, Citizen ID card, or Passport) to complete the test entry process. There is no specific waiting period between test attempts, and candidates can register for the SAT test up to 7 times per year.
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.
