CFA 2020 - Exam dates (Out), Application, Exam Pattern, Syllabus & Selection Process

Latest Updates: 

June 22, 2020: Registrations for Computer-Based Level I exam for February 2021 exam has started. 

May 16, 2020: CFA Institute has asked candidates to re-register for June 2020 exam. Read More

April 24, 2020: CFA Level 1 exam will be conducted online from the year 2021. CFA Institute has also issued an important notice for June 2020 exam. Read More

March 21, 2020: CFA June 2020 exam has been postponed following the outbreak of coronavirus. The exam will be conducted in December 2020. Read More

What is CFA?

The Chartered Financial Analyst programme is a professional course offered by the US-based CFA Institute. The programme aims to grant ‘CFA charter’ to investment and financial professionals to help them further their career goals. CFA is a graduate-level program divided into three levels of exam -I, II and III. The level I exam will be conducted in Computer Based Mode. The exam for all three levels is held in June while Level I exam is also conducted in December. The exam for the June session is conducted across 10 cities in India while that for December session is held across 6 cities. The programme covers a broad range of financial aspects including investment management, financial analysis, stocks, bonds, and derivatives. CFA exam pattern and level of complexity differ with each level of the exam. 

CFA results for Level I and II are made available within 60 days of the exam date and within 90 days for level III candidates. Candidates are required to clear all the three levels of the exam as per their sequence. CFA exams are offered in English only. 

A candidate who successfully completes the programme is declared as ‘CFA charterholder’. There are over 1.2 lakh CFA members across 35 countries in the world. 

CFA Important Changes in Level 1 exam

• CFA Level 1 exam will be conducted from next year.
• The CBT of Level 1 will be held in four windows each year (February, May, August, and November).
• The first computer-based exam will be offered in February 2021.
• The CBT will be held in more locations.
• Testing at home will not be an option.
• The list of test centres will be released in June 2020.
• Registration for February 2021 Level 1 exam will open in June 2020.
• Number of questions reduced to 180.
• Testing time also reduced.

CFA Exam 2020 Highlights

CFA Eligibility Criteria 2020 

Eligibility criteria for CFA first level are given below:

• The candidate must possess an international travel passport.

The candidate must also fulfill one of the following:

Undergraduate:

• The candidate must be a graduate or be a final year bachelor’s degree student. (To register for Level II exam, the candidate must have completed bachelor's degree program) or

Work experience:

• The candidate must possess four years of work experience or a combination of work experience and education that totals at least four years

CFA 2020 Important Dates 

Candidates can check below CFA dates for June session for Level 1, 2 and 3

CFA dates of December exam are given below:

CFA Selection Process 2020

The course is divided into three levels:

Level I: Focus on basic knowledge of ten topic areas and simple analysis using investment tool

Level II: Emphasis on the application of concepts and investment tools with the focus on the valuation of all THE assets.

Level III: Focus on applying all the methods and concepts learned for effective portfolio management and wealth planning.

The exam for each level will be for six hours each, the suggested prep plan is for six months.

The application process for each level is announced six months in advance. The aspirants can register for the desired level, prepare for the qualifying exam in the next six months and then appear for it. 

The forms are made available online on the official website which is to be filled in and submitted along with the registration fee before the last day. 

CFA Exam Centres 2020 

CFA exams are held across 170 cities in June and 70 cities in December across various exam centres around the world. In India, CFA examnis conducted in 11 cities. Candidates are required to select CFA exam centres location while registering for the exam. Candidates can also request a change in CFA exam centre after completion of the registration process. The exam centres are allotted to candidates as per their preferences and availability of seats. The details of the exam centre are mentioned on the CFA admit card.

• Ahmedabad 
• Bhopal 
• Bangalore 
• Mumbai 
• Chennai 
• Hyderabad 
• Jaipur 
• Kolkata 
• Lucknow 
• New Delhi 
• Pune