Cfa institute


CFA Institute

·  CFA Institute is headquartered in the United States of America at Charlottesville, Virginia

·  Formerly known as the Association for Investment Management and Research (AIMR)

·  CFA Institute awards the Chartered Financial Analyst (CFA) designation. In addition to administering the CFA Exam, CFA Institute publishes the Financial Analysts Journal, founded in 1945. CFA Institute also operates the CFA Institute Centre for Financial Market Integrity and the Research Foundation of CFA Institute.

About CFA®

The CFA® Program is administered by the CFA Institute, USA. The program has three levels, and candidates seeking the charter need to clear all the three exams. Candidates can give the exams only in June and December each year.

The minimum time required for clearing all the three exams is 1.5 years (provided you give Level I Exam in the month of December). However the average time for clearing all the three levels is around 4 years. The CFA Institute recommends 250 hours of study for each exam level.

CFA® charter holder membership requirements include, but not limited to 48 months of acceptable professional work experience and passing the Level I, Level II, and Level III exams.

Structure of the Exam

Level I exam is available in June and December each year. Level II and III exams are available in June each year.


Style of Questions

Number of Questions

Duration of the exam


Multiple Choice


6 hrs


Multiple choice vignette style


6 hrs


50% essay type, 50% multiple choice


6 hrs