Chartered Financial Analyst or CFA is considered to be a very prestigious course with regards to chartered accountancy. This course is covered in three levels which are Level 1, Level 2 and Level 3 spanning for the duration of a minimum of 1.5 years. Post completion of all the three levels, an aspirant is awarded the certificate of CFA. The candidates aspiring for CFA courses must have completed their Bachelor’s degree or should be pursuing their final year while seeking admission which is prerequisite criteria for admission.
Candidates are required to have an international travel passport which is one of the prerequisite criteria set by certain colleges. The course also requires the aspirants to have earned at least 4 years of professional experience on the work front. Besides, knowing using a computer and a general understanding of the various tools involved will make the study an efficient experience.
The program fee ranges from INR 1.05 Lakhs and above. Graduates have lucrative opportunities in fields of banking, as auditors, excise, and taxation department, opening scopes in domestic as well as international fields. CFA graduates earn a sound salary which falls in the range of INR 3 to 10 Lacs, which is subject to increase with the position and commitment to the work.
CFA 2019 Important Dates for June (Level I, II, III)
|Second deadline to request disability accommodations||February 18, 2019|
|Final (late) registration fee deadline||March 13, 2019|
|Final deadline to request disability accommodations||March 18, 2019|
|Availability of admit card||May 30, 2019|
|Last date to submit requests for change in test centers||June 11, 2019|
|Exam day for the Asia Pacific (Levels I & III); Americas and EMEA (all levels)||June 15, 2019|
|Exam day for the Asia Pacific (Level I) only||June 16, 2019|
|Religious alternate exam date (Americas and EMEA), all levels||June 16, 2019|
|Religious alternate exam date (the Asia Pacific all levels)||June 17, 2019|
|CFA 2019 result (Level I, II and III)||Mid of August 2019|
CFA Important Dates 2019 for December (Level I only)
|CFA Exam Registrations begins on||January 24, 2019|
|Last date for registering without late fine||March 27, 2019|
|Standard registration deadline||August 14, 2019|
|Late fine registration deadline||September 11, 2019|
|CFA Examination||December 7, 2019|
Eligibility Criteria for CFA Course
- Candidates are required to qualify for a bachelor’s degree in any relevant field.
- Those who are pursuing their final year of Bachelor’s degree are also eligible for admission to the CFA courses.
- Applicants are required to have work experience of at least 4 years for availing for the course.
Admission Process in CFA
Candidates willing to seek admission in the CFA courses need to fulfill certain criteria as specified by the University of Chartered Accountancy. The applicants are supposed to clear their bachelor’s degree in any relevant discipline or should be currently aspiring their final year of bachelor’s degree. Having relevant work experience for a minimum of 4 years is also a prerequisite for availing admission to the program.
Besides these mentioned criteria, some institutes also demand students to own an international travel passport. Preference is given to the merit list for admission. The applicants are supposed to clear the Level I, Level II and Level III of examinations to earn the certificate of CFA. Candidates are required to apply for the course online as well as pay fees online. Enrolment to the program can be done through Credit Card. The candidates will be notified through email or on the official website.
CFA Exam Pattern 2019
The Level I exam as per the CFA exam pattern consists of 240 multiple-choice questions. The test is split into two sessions, each session is held for 3 hours. Candidates need to appear in both sessions. The morning session is of 3 hours in which the candidate will have to solve 120 multiple-choice questions. The afternoon session is of 3 hours in which the candidate will have to solve the remaining 120 multiple-choice questions. Each question carries the same weight and there’s no negative marking for the wrong answer.
The level II of the CFA exam will have a total of 20 item set questions. The test is conducted in 2 sessions – morning and afternoon. The test will have a total of 120 items (20 vignettes with 6 items each). Each question is of 3 points with no penalty for wrong answers. The morning session comprises of 10 item-set questions, and the afternoon session also comprises of 10 item-set questions.
Level III consists of an item set and essay type questions. The morning session comprises of essay questions (usually between 8 and 12 questions. The test carries 180 points; the afternoon session comprises of 10 items-set questions.
CFA: Course Highlights Table
|Duration||Minimum of 1.5 years|
|Eligibility||Bachelor’s degree + 4 years’ work experience|
|Admission process||Merit List, clearance of all 3 Levels|
|Course Fee||Up to INR 1.05 Lakhs|
|Average salary||Approx. Up to INR 3 to 10 Lakhs per annum|
|Top Recruiting Companies||Banking Industry, Audit Departments, Company Auditing Departments, Excise & Taxation Departments, etc.|
|Job Profiles||Financial Analyst, Finance Manager, Auditor, etc.|
CFA: Career Prospects
CFAs are believed to have a prolonged successful career as professionals in the finance sector and usually work in various corporate houses, banking as well as financial services. They possess ample opportunities within fields such as business, auditing departments, insurance firms, and Excise & Taxation departments and also in Educational Institutes. They become successful auditors, Finance Analysts, Finance manager, and so on.