Everything you need to know about the CFA examination

The Chartered Financial Analysts designation is among the toughest to achieve. You must have a minimum of 300 hours of financial analysis and should have earned at least an A grade in one or more financial theory courses. CAIA® qualifications are difficult to achieve without the help of a private tutoring company.

Scholarships and Bursaries

As part of the CFA requirements, candidates must be sponsored by a professional fund management company and successfully pass two exams, which are three months in duration. The exams are administered by the Money & Funds Institute and you can access their testing centers in the U.S., U.K. and Canada.

How much does it cost to take the CFA?

A new CFA candidate can receive a one-year scholarship from the Financial Industry Regulatory Authority (FINRA) or a three-year scholarship from the chartered financial institution (IFNot) that provides IF courses. Only candidates who have been working in the same job for one year can take the exam.

Some of the CFA requirements are rigorous.ED = Engineering and finance, CFA = Analysis and risk, CPA = Practice of accounting, CISO = All elements of the CPA exam.

How can I get my CFA?

Candidates should speak to their selected schools and universities and request a prospectus packet from the school. This document contains information on the school’s policies, courses and evaluation criteria.

Financial institutions that offer the CFA require a number of documents for applicants. You can obtain a prospectus from the school or request a letter of invitation which is available on the school’s website.

How do I qualify for a scholarship?

In order to qualify for a scholarship, you must have proven leadership or managerial skills in the areas of financial services, economics or management or in a similar field. Strong leadership qualities often translate into successful achievement of goals.

Research financial institutions that offer the CFA designation or a similar designation have rigorous standards for admission. Prospective students should inquire whether they require letters of recommendation. There are currently over one hundred financial institutions who offer the CFA designation including such well known organizations as: Allianz, BCE Group, Citigroup, Goldman, Morgan Stanley, Visa, etc.

You can verify whether a particular financial institution offers the CFA designation by contacting their admissions department.

How do I find out whether a particular financial institution offers the CFA?

You can access information on the CFA and a list of other financial institutions that offer the program from the CFA Institute website.

I am currently employed in a large financial corporation. What requirements do I need to meet to obtain my CFA?

You will need to obtain a bachelor’s degree or its equivalent. Alternatively, you can also choose an advanced professional degree in accounting, which would qualify you for a higher position and increase your potential salary. However, whether you pursue a bachelor’s degree or an advanced degree, you will be required to take and pass the CFA Level II examination before you will be able to take the CFA exam.

Who is eligible to take the CFA?

The eligibility requirements vary for Pell Grant and students who are receiving Federal financial aid. For Pell Grant, you must be a high school graduate at least 24 years old and not currently enrolled in college. For students who are getting Federal financial aid, the program may require that you have at least a undergraduate degree, which is not necessarily the same as a Bachelor’s degree. The purpose of the CFA is to make sure that a person with a Bachelor’s degree can manage very diverse financial accounts and also qualify for a wide range of investment jobs.

Furthermore, all CFA candidates must be in compliance with the U.S. stock market rules, which generally require each participant to keep certain market ratios and to minimize downside risk.

When will my TAS Annual Exam score be scored?

Your TAS Annual Exam score will be sent to you via mail in a few weeks. On average, a candidate receives between 1 and 2 scores. On average, they will have between 300 and 1200 points. A candidate needs to maintain a satisfactory score in order to pass the exam.

I have more questions about the TAS, what if I don’t pass the exam?

If you simply don’t pass the exam, then you can re-take it. However, you will not be allowed to take the exam again unless you first pass a successor exam, such as theneau- Transactions Level 1 exam.

Christina E. Stark

Christina E. Stark

Christina worked in several conglomerated sized financial companies in the global markets, M&A and club loan product team. She is now an exam advisor in CAIAExam.com

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