CFA Program: course, eligibility and career options
Learn about the CFA Program, eligibility, three exam levels, curriculum and finance career opportunities.
What is the CFA Program?
The CFA Program is a professional investment and finance qualification administered by CFA Institute. It is designed around investment analysis, asset valuation, portfolio management, ethics and related financial skills.
Three examination levels
- Level I — foundational knowledge and concepts.
- Level II — deeper analysis and application using investment scenarios.
- Level III — advanced integration and application, including constructed-response and item-set formats.
Eligibility
CFA Institute currently allows candidates to qualify through education or a combination of higher education and professional work experience. Candidates must also meet the applicable registration requirements, have a valid international travel passport and be prepared to take the examinations in English.
What subjects does CFA cover?
The curriculum covers areas such as ethical and professional standards, quantitative methods, economics, financial statement analysis, corporate issuers, equity investments, fixed income, derivatives, alternative investments and portfolio management. The curriculum and weightings should be checked on the current CFA Institute website for the relevant level.
Career opportunities
- Investment research
- Equity research
- Portfolio management
- Asset management
- Wealth management
- Risk management
- Investment banking
- Corporate finance
- Financial analysis
- Private markets and related investment roles
CFA vs CA
CFA is strongly oriented toward investments, valuation, portfolio management and financial markets. CA has a broader professional focus across accounting, audit, taxation and financial reporting. The better choice depends on the type of finance career a student wants.
How much study is involved?
CFA Institute states that successful candidates report spending more than 300 hours preparing for each level on average. This is an indicative average, not a guaranteed preparation requirement.
Important
CFA registration fees are quoted by CFA Institute in US dollars and can change. Eligibility, exam windows, fees and policies should always be checked on the current CFA Institute website before registration.
Official source: CFA Institute — CFA Program