CFA FAQ

The Chartered Financial Analyst® (CFA) charter is a professional designation administered by CFA Institute. According to CFA Institute, it’s the most respected and recognized investment management designation in the world.

To earn the CFA charter, you must pass three levels of the exam in order: Level I, Level II, and Level III. Each exam builds on the mastery demonstrated by achieving a passing score on the previous exams.

It is not a degree. It’s a professional credential that demonstrates mastery of advanced investment analysis and real-world portfolio management. Candidates often weigh the benefits of the CFA charter against those of an MBA, which may be a contributing factor in this common misunderstanding.

An individual wishing to enroll in the CFA Program and register for the Level I exam for the first time must possess an international travel passport. In addition, candidates must meet one of the following requirements: Have earned a bachelor’s (or equivalent) degree or be in their final year of a bachelor’s program have accumulated 4,000 hours of applicable professional work experience (not required to be investment-related) Candidates may also have a combination of full-time professional experience and education that totals a minimum of 4,000 hours. Those hours of experience/education must be accrued prior to enrollment in the program.

The average candidate for Level I of the CFA exam should spend a minimum of 300 hours over the course of six months preparing for the exam.

The online access last for a period of 6 months, which is one exam window.

eBook versions are available for SchweserNotes™, Schweser's Secret Sauce®, and QuickSheet. Our study packages now include both print and eBook options at no additional cost.

Our OnDemand class covers all the topical areas as a live class but allows you to learn on your schedule with 50 hours of OnDemand classes. You also get five instructor-led live online workshops providing the opportunity to ask questions and work on complicated practice problems. Our live online classes give you virtual access to our expert instructors regardless of your location. Classes are held at a specified time and recorded for later viewing if you are unable to attend. Our in-person classes are held in select locations and provide the opportunity for those who learn best in a traditional classroom environment to engage with an expert instructor.

There are a lot of opinions out there on what makes a good study plan—simply because what works for one individual does not mean it will work for another. We create packages and materials based off of data and insights from the hundreds of thousands of candidates we’ve helped pass the CFA exam over the past 30+ years. The Activity Feed (included in all packages) provides you with strategically placed weekly tasks to form a comprehensive study plan that covers the entire curriculum. We recommend sticking to this plan as closely as possible and using the Performance Metrics to understand which topics you’ve mastered and which need additional practice. We also recommend using the month prior to exam day strictly for review. Attend a Review Workshop, read Schweser's Secret Sauce®, and take a mock exam to gauge your readiness.

The Premium Package is our recommended package. We’ve spent the last 30 years understanding what makes CFA Program candidates successful and improving our offerings to align with those needs. The Premium Package includes our most important tools and it is designed in accordance with how candidates prefer to study. No two candidates are alike, which is why we also offer the PremiumPlus™ and Essential Packages. The PremiumPlus™ package was designed for candidates who enter the CFA Program without an extensive background in investments or finance and prefer a structured class. The Essential Package is perfect for the candidate that has a strong understanding of the curriculum but needs to learn and/or refresh themselves with the curriculum.