About CFA (Chartered Financial Analyst)
CFA or the Chartered Financial Analyst is one of the top professions in Financial Management and Investment. A Certified CFA can get employment options in the Investment industry with impressive salary packages. The CFA exam consists of 3 levels and candidates who qualify for all the 3 levels of the exam will be Certified by the Chartered Financial Analyst Institute.
A career as a CFA is beneficial for those candidates who are interested in working in different sectors like Private Equity, Corporate Finance, Investment banking, Wealth Management, and Insurance firms.
Overview of levels of the CFA exam
The CFA includes 3 levels- Level 1, Level 2, and Level 3. Aspirants have to clear all the 3 stages of the exam in order to become a Chartered Financial Analyst. The CFA course syllabus includes topics of Accounting, Money Management, Market Analysis, Financial Reporting, Equity analysis, and Capital budgeting.
A candidate has to qualify for each level of the CFA exam at the sequential level in order to pass on to the next level. All the levels of the CFA exam are held once a year in the month of June. The CFA level 1 exam is offered twice a year in the months of June and December.
The level of toughness of the exam increases consecutively as the candidate qualifies at each stage. Each of the levels of the exam is six hours long and is based on analytical concepts. The CFA course syllabus is based on the theoretical knowledge, practical concepts, and work experience of the candidates.
Eligibility criteria of the CFA exam
Candidates must have a Bachelor’s Degree /equivalent in the relevant discipline.
Candidates must have a professional work experience of 4 years.
Candidates in the final year of the Bachelor’s Degree program can also apply provided they have the necessary work experience.
Skills required to become a CFA
Computer skills
Decision-making skills
Time management skills
Eye for detail
Mathematical skills
Analytical skills
Discipline
Communication
CFA program syllabus
The CFA exam is divided into 3 levels- Level 1, Level 2, and Level 3.
The CFA Level 1 exam consists of 2 sessions morning and evening.
Each session has a duration of 2 hours and 15 minutes.
There are 90 multiple-choice questions for each session.
The total time duration of the exam is 4 hours 30 minutes with a total of 180 questions.
The CFA Level I exam is conducted quarterly, the Level II exam is conducted thrice a year and the Level III exam is conducted twice a year.
The CFA Exam Results are declared within 2 months to 3 months of the date of the exam.
CFA exam syllabus India
There are 3 levels of the CFA exam- Level 1, level 2, and level 3. Aspirants have to clear all the 3 levels of the CFA exam syllabus in order to get the CFA Certificate. The CFA program syllabus for all the 3 levels of the exam is the same only the weightage of each topic varies at each level of the exam.
Preparation tips for CFA course syllabus
Develop a study plan- It is important to prepare a study plan at least 6 months before the exam. If a candidate wants to study for 300 hours for the exam, he/she must make a routine and follow it regularly.
Focus based on the weightage of each level- Candidates must know the weightage of the topics of the CFA program syllabus and focus on the subjects accordingly. The topics that have the maximum number of questions in Level I must get more attention than the rest. Candidates must follow this system for all the 3 levels of the exam.
Learn the concepts properly- It is important to know the concepts clearly along with the formulas and applications. Do not practice only Math but also try to learn the formulas that are time-consuming.
Practice time-management- Developing a time-based strategy to solve the CFA exam papers is very important. For this, it is necessary for the candidates to solve as many mock test papers as possible and focus on strengthening the weak topics.
Take a pause in between studies- It is very important to take regular breaks between studies so that you do not feel stressed out. It is necessary for the candidates to start their exam preparation at least 6 months before the exam to perform well.
Best books to prepare for the CFA exam syllabus India
Kaplan Schweser notes- CFA prep book
Wiley’s Level I CFA program guide
25th-hour notes by Havels Learning system
Investment Banking- Valuation, Leveraged Buyouts, Mergers & Acquisitions by Pearl and Rosenbaum
The Official CFA curriculum
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