Importance of CFA Exam
The CFA is the certification provided by the Chartered Financial Analyst Institute which is located in the USA.
It comes as a boon to the people who want to build a career in financial analysis. The only way to clear this exam is to give your 100% dedication and hard work to crack such a prestigious examination.
The best part about the exam is that it is not all in one exam and you have to give the whole examination in three parts which have their respective curriculum. All the levels show different difficulties in the financial world and test the student’s abilities to solve these problems.
Three levels of the examination
- Level I
- It focuses on testing the basic knowledge of the examinee and how they are able to tackle the investment tools in general investment world.
- All the subjects related to the assets and financial management and portfolio management are covered at this level.
- All the answers are then evaluated on the basis of the standards set by the institute itself.
- Level II
- This level evaluated the person’s ability to grasp the whole concept of financial planning and how well is he using the concept in real life applications.
- It has a much more complex structure than level 1 and the weight-age changes for every subject at this level and is different from Level 1.
- The candidate must follow a step by step approach and the number of formula and techniques are much vast at this level.
He should have an in-depth knowledge of all the functional areas.
- Level III
- The most difficult level is this one and it has the most torturous methods of evaluating a student’s ability.
- The most time-consuming questions are found in this level and you need to be very sharp and intelligent to learn all the tricks and formula to be used in this level.
- Clearing this exam is an arduousus task and should not be taken lightly.
This was a brief about the difficulties of all three levels and except these, there are even more restrictions in the examination like the exam approves only two types of calculators which should be on your tips at all times- Texas Instruments BA II Plus and Hewlett Packard 12C.
Coming back to the importance of the CFA Exam, this is one of the most important exams based on the financial abilities evaluations of students around the world.
If a person is able to clear the examinations in these levels and is able to procure a good score then, the salary after the completion comes around $100,000-$50,000 in any of the internationally recognized finance company and in India, the salary comes around INR 800,000 to INR 2000000 in any reputed firm.
Not just the salary package is attractive but also, the quality of person is measured in such difficult conditions that it seems to be a genuine seal on the financial abilities of the person which gives them a morale boost as well as a prestedious feeling of being a master in using the financial tools in the best way possible.
The total cost of the whole course comes to be around INR 2- 2.5 lacs which is one of the costliest fees in today’s time. This fee includes the tuition you will take to prepare for the exam and all the instruments needed for the CFA examination.
- The registrations for the June 2020 exams were commenced on 8th August, 2019 and the early registration fee deadline is till 2nd October, 2019.
- The standard registration fee deadline is 12th February 2020.
- The final registration date which comes in the late registration section is on 11th March, 2020.
- Any religious alternate registration dates are 16th March, 2020.
- The original exam date for the 2020 exam is 6th June for Asia Pacific of Level II and Level III and 7th June for Level I.
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