The CFA Institute still implements the policy that the earlier you register, the lower the fee. The first registration stage has the lowest fee, and the registration fee for the second and third stages of exams increases in sequence.

Registration website

level1 is generally June and December every year Level2 and level3 are in June every year

1.Ethical and Professional Standards (Ethics and Professional Standards) (15%)

2. Quantitative Methods( Quantitative methods) (12%)

3. Economics (Economics) (10%)

4. Financial reporting and analysis (Financial Statement Analysis) (20%)

5. Corporate Finance (Corporate Finance) (7%)

6. Portfolio Management and Wealth Planning (Portfolio Management) (7%)

7. Equity Investments (Equity investment analysis) (10%)

8. Fixed Income (Fixed income securities asset investment) (10%)

9. Derivatives (Analysis and use of derivative instruments) (5%)

10. Alternative Investments (Other types of investment analysis) (4%)

The exam results are divided into pass or fail, and the results are generally announced within 45 days after the exam. The passing criterion is that the number of correct answers by a candidate >= 70% of the average number of correct answers by candidates who rank in the top 1% of global scores.

Exam answer accuracy rate <= 50% fail 51% <= Exam answer accuracy rate <= 70% pass, exam answer accuracy rate >= 71% pass and all are excellent.

For example: the total number of test questions is 240, and the average number of correct answers for the top 1% of candidates in the world is 200, then candidates must answer 200*70% = 140 questions correctly to pass this exam.

There are 120 multiple-choice questions in the morning and afternoon (choose one from three). The multiple-choice questions are arranged in the order of the textbook.

CFA official textbook (CFA Curriculum) (about 3500 pages)

Schweser Study Notes (approximately 1500 pages)

CFA Institute Standards of Practice Handbook

MOCK and exam-specific calculation questions over the years

Official website (https://www.cfainstitute.org)

Learning Forum (http://forum.theanalystspace.com)

China CFA Forum

cfa pub