The CFA qualification

Awarded by the CFA Institute in USA, the CFA charter requires its candidates to master a rigorous curriculum that covers a broad range of investment-related subject areas. Perhaps this is the reason why the CFA has been established as the most widely accepted standard for measuring the competence and integrity of financial analysts. With the international recognition of the CFA by both employers and investors as the designation of professional excellence, it should come as no surprise that the key players in the investment industry are CFA holders! Therefore, obtaining the CFA qualification will not only give you the necessary skills to succeed in the investment industry, but will also give you a head start in the investment world. To be awarded the CFA designation, candidates must complete successfully the examinations set by the Institute and possess relevant work experience.

More specifically, candidates must:

  • Sequentially pass three examinations (Level I, II, III)
  • Have at least four years of acceptable professional work experience in areas that directly pertain to the investment decision process
  • Comply with the CFA Institute code of Ethics and Standards of Professional Conduct.



The CFA Exams are divided into 3 Levels.

Each Level examines the same topics but at a different degree of difficulty at each level. The topics covered are the following:

  1. Ethical and Professional Standards
  2. Quantitative Methods
  3. Economics
  4. Financial Reporting and Analysis
  5. Corporate Finance
  6. Equity Investments
  7. Fixed Income
  8. Derivatives
  9. Alternative Investments
  10. Portfolio Management and Wealth Planning


Examinations are held in June for Levels II and III. For Level I exams are offered both in June and December only in selected examination centres (June only in Cyprus).