FAQ's - CFA Program

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1. What is the CFA program all about?
2. What are the CFA program requirements?
3. How do I register for the CFA exam?
4. Do you have the CFA Institute's contact information?
5. What is a Learning Outcome Statement?
6. What is the pass rate on the CFA exams?
7. How long will it take for me to complete my CFA program?

1. What is the CFA program all about?
   The Chartered Financial Analyst ("CFA") program is a globally recognized standard for professionals in the financial services industry. The CFA charter is given by the CFA Institute. The first charter was awarded in 1963 and the program is over 40 years old. More than 35,000 charters have been awarded during this period. For more information, please visit https://www.cfainstitute.org/cfaprogram/Pages/index.aspx. Kaplan Schweser is not affiliated with the CFA Institute. Kaplan Schweser is an independent educational training firm and assists candidates in preparing for the CFA exams.
   
   
2. What are the CFA program requirements?
   To qualify for the award of the CFA charter, the CFA Institute has these requirements:
   1. Pass the sequence of three exams, referred to as CFA Level 1, CFA Level 2, and CFA Level 3. These are administered once a year, during the first weekend in June. A candidate can take only one exam per year. A second CFA Level 1 is given the first weekend in December. You can only take the next level exam after passing the previous level exam. This means that it will take you at least three years to pass all the exams;
   2. Have at least 3 years of relevant work experience defined as "working in the investment decision-making process";
   3. Fulfill CFA Institute membership requirements which include membership of the CFA Institute as well as a CFA Institute Member Society Chapter; and
   4. After becoming a charterholder, the candidate must comply with the CFA Institute's policies and other requirements.
   Additional details can be found at https://www.cfainstitute.org/cfaprogram/process/Pages/index.aspx.
   
   
3. How do I register for the CFA exam?
   Registration for the CFA program requires that you fill out an application form. You can register online at https://www.cfainstitute.org/cfaprogram/process/Pages/index.aspx or obtain the registration form and send it in. This form can be requested from the CFA Institute and is also available at http://www.cfainstitute.org/learning/products/events/Pages/06082010_20548_registration.aspx.
    
4. Do you have the CFA Institute's contact information?
   The contact information for the CFA Institute is:

   Website: www.cfainstitute.org

   Email: info@cfainstitute.org

   
   

   For the U.S.:

   CFA Institute
   560 Ray C. Hund Drive
   P.O. Box 3668
   Charlottesville, VA 22903-0668 USA

   
   

   Phone: (800) 247-8132 (U.S. & Canada)

   Phone: (804) 951-5499

   Fax: (804) 951-5262
    

   Office Hours: 7 am – 7 pm ET (Monday through Friday)

   For Hong Kong:

   Suite 3406-7
   Two Exchange Square
   8 Connaught Place, Central
   Hong Kong SAR

   
   

   Phone: 852/2868-2700

   Fax: 852/2868-9912

   Email: infohk@cfainstitute.org

   Contact: Joanne Sugiono-Leong

   
   You may also visit the CFA Institute website for additional contacts at https://www.cfainstitute.org/utility/contact/Pages/worldwide_contacts.aspx.
    
5. What is a Learning Outcome Statement?
   Starting from a general body of knowledge, the CFA Institute assigns a set of readings from textbooks and journal articles for different subject areas: economics, ethics, equity, corporate finance, accounting/financial statement analysis, fixed income securities, markets, portfolio management, and quantitative methods. Each reading has a set of learning outcomes. The CFA Institute constructs these learning outcome statements to focus the candidate's study efforts on particular topics within a particular reading.
    
6. What is the pass rate on the CFA exams?
   Pass rates on the exams vary from year to year and from level to level. Visit the CFA Institute site http://www.cfainstitute.org/cfaprogram/exams/Pages/index.aspx for more information.
    
7. How long will it take for me to complete my CFA program?
   The minimum time needed is three years and people may take longer depending on their other time commitments, such as a full time job etc. The average time to completion of the three exams is over 4 years. Our goal is to help you minimize this time commitment.