About the Exam:

CFA exam consists of 3 levels. Level 1 is offered twice a year in June and December whereas Level 2 is offered only in June. All exams are structured for 6 hours divided into two sessions of 3 hours each. The complexity of the curriculum increases as the candidate moves through the three levels.

·         Level I: The main focus of this level is on the basic knowledge of the 10 topic areas and simple analysis using investment tools.

·         Level II: This level mainly deals with the application of the investment tools and concepts with a focus on the valuation of all types of assets.

·         Level III: All the concepts and analytical methods are synthesized in various applications for the effective portfolio management and wealth planning. 


Exam Format

Type of Questions

No. of Questions

Duration of Exam

Level I

Multiple Choice


Two exams on the same                day

Level II

Multiple Choice


Level III

1/2 Essay type & 1/2 multiple choice

10 + 60