Courses / CFA
"Attending all three CFA courses managed by CfBS was enriching in two ways: First of all the lecturers visualized and explained the material in a very well structured way. Secondly, I had the opportunity to meet other candidates in the CFA program and exchange experiences."
Stefan Hofstettler, CFA, Credit Suisse AG, Zurich
Frequently Asked Questions
Do I have the necessary qualifications for the CFA exam (entrance requirements)?
You need a bachelor's degree (or equivalent) or a minimum of four years of acceptable work experience (e.g. portfolio manager, analyst, economist, securities trader, and people working in the investment valuation process) or a combination of work and college experience that totals at least four years.
What are the requirements to be awarded the CFA charter?
The requirements are: (1) pass all three levels of the CFA exam, (2) have four years of acceptable professional work experience, (3) and be a member of CFA Institute. The work experience may be accrued while you are in the CFA program, after you have passed all three levels, or from previous positions. At least 50% (or 2 years) must be spent in activities that qualify as professional work experience. The work experience guidelines can be found at www.cfainstitute.org/about/membership/process/Pages/work_experience.aspx
Am I enrolled for the CFA exam after I have registered for the CfBS prep course?
No, in order to take the CFA exam, you need to enroll directly with CFA Institute in Charlottesville/USA. The enrollment form can be filled in on-line at www.cfainstitute.org. Please make sure that your completed form is received by CFA Institute before their registration deadline expires. The longer you wait the higher the registration fee is.
What is the format of the CFA exam?
Different formats exist: levels I and II are multiple choice tests, while level III combines item sets (multiple choice) and essay questions.
What is the pass rate on the CFA exams?
The world-wide pass rates for the period 1963 to 2009 stood at 44% for level I, 49% for level II, and 64% for level III. The results for the June 2010 exams show that 42% (2009: 46%) passed level I, 39% (2009: 41%) level II, and 46% (2009: 49%) level III.
How can the four-month prep course help me to pass the exam?
The prep course will teach you the most complex and frequently asked concepts and gives you a framework to structure your exam preparation. The course is designed so that you can gradually build up the knowledge and strategy to pass the exam successfully. In addition to attending class you will need to put in rigorous self study depending on your academic and professional background. We suggest that you take two weeks off before the exam to concentrate fully on your final preparation.
Is it necessary to buy the primary literature of CFA Institute?
No. Starting with the 2008 exams the primary readings are included in the registration fee for the CFA exam. We strongly recommend that our students work with the Candidate Readings to familiarise themselves with the material CFA Institute uses to prepare the exam. Please bear in mind that CFA Institute compiles exam questions based on the Candidate Readings.
Which calculator is permitted for the exam?
For the exams CFA Institute only allows the use of the following two calculators: Hewlett Packard 12C and Texas Instruments BAII Plus. In the CfBS exam preparation courses the two approved calculators will be explained and used. The calculaters can be purchased from www.taschenrechner.ch or in specialised shops.
For more information regarding the CFA program, please visit www.cfainstitute.org and/or contact us by e-mail to info@cf-studies.ch or by phone to (0041) 044 240 04 50.