The CFA Program features a collection of three exams; Levels I, II, and III. The exams:
Are supplied yearly — at take a look at facilities world wide — on the primary Saturday in June. The Level I examination can also be supplied in December.
Must be handed sequentially.
Are accessible in English solely.
The examination content material, studying focus, and query format improve in complexity with every degree.
Curriculum Content and Learning Focus
An instance displaying the rise in complexity is the moral {and professional} requirements curriculum content material. This content material is analogous for every examination degree; nonetheless, candidates are requested several types of questions:
Level I checks your data of the moral {and professional} requirements.
Level II checks the way you apply these requirements to conditions analysts face.
Level III checks the way you apply the requirements in a portfolio administration and compliance context.
In normal:
Level I exams consists of fundamental data and comprehension questions centered on funding instruments; some questions would require evaluation.
Level II exams emphasize extra complicated evaluation, together with a give attention to valuing property.
Level III exams require synthesis of all of the ideas and analytical strategies in quite a lot of functions for efficient portfolio administration and wealth planning.