Frequently Asked Questions - CFA Program Information

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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 exam?
7. How long will it take for me to complete my CFA program?
8. Why are Kaplan's pass rates not published?

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; the program is over 40 years old. 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 exam.
   
   
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 I, CFA Level II, and CFA Level III. 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 I 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 4 years of relevant work experience defined as "working in the investment decision-making process";
   3. Fulfill CFA Institute membership requirements which include membership in 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.
   5. New in 2011—Have a valid international travel passport (required for enrollment and exam registration)
   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/about/forms/Pages/index.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. Hunt Drive
   Charlottesville, VA 22903-2981
   USA

   
   

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

   Phone: +1 (434) 951-5499

   Fax: +1 (434) 951-5262
   

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

   For Hong Kong:

   Suite 4905-08
   One Exchange Square
   8 Connaught Place, Central
   Hong Kong SAR

   
   

   Phone: +852-2868-2700

   
   
    
5. What is a Learning Outcome Statement(LOS)?
   Starting from a general body of knowledge, 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. 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 exam varies 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 2.5 years; people may take longer depending on their other time commitments, such as a full time job, etc. The average time to complete the 3 exams is over 4 years. Our goal is to help you minimize this time commitment.
    
8. Why are Kaplans pass rates not published?
   The CFA Institute's Prep Provider Guidelines do not allow us to publish or communicate pass rates in any provider materials.