The CFA Program features a collection of three exams; Levels I, II, and III. The exams:
Are provided yearly — at check facilities world wide — on the primary Saturday in June. The Level I examination can also be provided in December.
Must be handed sequentially.
Are obtainable in English solely.
The examination content material, studying focus, and query format enhance in complexity with every stage.
Curriculum Content and Learning Focus
An instance exhibiting the rise in complexity is the moral {and professional} requirements curriculum content material. This content material is comparable for every examination stage; nevertheless, candidates are requested various kinds of questions:
Level I assessments your data of the moral {and professional} requirements.
Level II assessments the way you apply these requirements to conditions analysts face.
Level III assessments the way you apply the requirements in a portfolio administration and compliance context.
In normal:
Level I exams consists of primary data and comprehension questions targeted on funding instruments; some questions would require evaluation.
Level II exams emphasize extra complicated evaluation, together with a deal with valuing belongings.
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.