In the current world, the CFA exams are of great significance to an individual. This is because the learning focus, exam content as well as the question format will enable a person to acquire financial skills.
Levels of the CFA exams
The CFA program is comprised of a series of three levels, CFA level 1, 2 and 3. Every year, the exams are offered at the test centers worldwide. The time in which the cfa question bank is administered is the 1st Saturday in the month of June. Apart from that, the level one exam is also done in December. Moreover, it is important to know that the exam should be undertaken sequentially and it is available only in English.
The learning focus and the curriculum content of the exams
Every stage of the exam is increasingly complex. There is also an Ethical portion of the exam. Even though the content is similar in each level of the exams, the candidates are tested on a variety of questions which include:
- Level 1: Examined on the knowledge based on Professional and Ethical Standards
- Level 2: The examination involves how to apply the Standards in every situation in which the analyst encounters
- Level 3: The exams deal with how one can apply the Standards in the compliance test and portfolio management.
Generally, the CFA level one exam comprises of the basic comprehension and knowledge questions which focuses on the questions which need some analysis and investment tools. Level two exams emphasize on valuing assets along with more complex analysis. The level three exams entail the synthesis of all the analytical methods and concepts in various applications for very effective wealth planning and portfolio management.
What is the cost of the CFA exams?
The enrollment fee: When one applies for the level one exam, he or she should pay a one-time enrolment fee of $450.
The registration fee: The CFA exams registration fee is equal for all three levels. However, there is a range which depends on the candidate’s commitment to the exams. In order to get the early bird discount, a candidate should apply nine months before the exam date. Therefore, the early registration fee is $650. Consequently, the regular registration fee is $860 and the late registration fee is $1280.
The curriculum fee: Whereas the price of the eBooks are included in the examination fee, a student who needs the print version should pay an additional fee of $150.
The hours spend while studying
According to the June 2016 CFA survey, it was reported that the time taken to study for the exams was 322 hours. 67% of test-takers used for the preparation of the mock exam and 80% utilized the CFA program curriculum. However, on forums like Reddit, it is well-known that the best way to study for the exams is to use a CFA question bank. The #1 ranked spot on Google for this is. This is because they offer the most complete question bank you could find online.
The benefits of undertaking the CFA exams
When it comes to finance and investment, it is the most prestigious title
Most of the people are aware that the designation of CFA is a popular and respected qualification for investments and finance professionals such as portfolio managers and research analysis. In addition to the many financial degrees worldwide, the CFA qualification is becoming a gold standard during the financial times.
The networking opportunities of the CFAs are unique
In more than 70 countries worldwide, the CFA societies are present. This gives unparallel network which can be leveraged on one’s career. Nevertheless, there are jobs which are posted by the CFA societies who are looking for charter-holders. Thus, there is a high potential of landing on these high-paying jobs.
It is a ticket for working into major investment companies
The CFA charter holders are mainly employed by global investment banks. The departments in which they are best in are the research divisions and asset management. Therefore, it is recommended that a person should pursue when he wants to work in such organizations.
The CFA employees are paid better
A person who is CFA certified is paid better as compared to other staffs. This is because the worker is given better projects as a tremendous amount of work experience.
From the detailed description highlighted, CFA exams should be done by people who want to acquire financial success.