CFA: Frequently Asked Questions
What is the CFA Program?
The Chartered Financial Analyst (CFA) designation has become a “global passport” for professionals in the financial services industry. The internationally recognized CFA Program is a self-study, graduate-level program for investment professionals. The three-year program requires you to study for and pass three levels of exams. If you pass the exams and meet other requirements (including relevant professional experience), you earn the CFA charter.
UTS participates in the CFA University Affiliation Program. What does this mean?
The CFA Institute affiliates with selected universities around the world that have imbedded a significant percentage (at least 70%) of the CFA Program Candidate Body of Knowledge (CBOK) into their degree programs. UTS is one of these few selected institutions based on the Bachelor of Business with a major in Finance and the Master of Finance degrees. Recognition in the University Affiliation Program (UAP) signals that the degree’s curriculum is closely tied to professional practice and is well suited to students preparing to sit for the CFA examinations. To become a CFA charterholder, all CFA Institute requirements have to be met. This includes passing three exams administered by the CFA Institute at CFA Institute test centers (not at UTS).
Are there CFA Program Scholarships available?
CFA Institute is offering a very limited amount of Student CFA scholarships to UTS students. For the current exam offerings (subject to change at any time), the registration fee is significantly reduced to USD 400. Scholarships cannot be deferred to another exam offering once registered.
The scholarships are given out competitively following an application process administered by the UTS Finance Department. Among other requirements, scholarship applicants have to be full-time undergraduate students in their final two years of study, or graduate students.
What Are the Benefits of the CFA Charter?
- Competitive advantage: Employers and clients want the experience that comes with the CFA charter,
- Networking: You’ll join a global contact network of more than 170,000 professionals,
- Recognition: You’ll earn a designation praised by employers, colleagues, and media.
How Do You Earn a CFA Charter?
When you sign up for the CFA Program, you become a candidate. As a candidate, you:
- Sign up for the CFA Program (www.cfainstitute.org),
- Study for three exams using an assigned curriculum,
- Take the three levels of the exams sequentially,
- If you pass all three exams, meet the professional and ethical requirements, and become a regular member of CFA Institute, you become a CFA charterholder.
What is the CFA Program course of study?
To earn the CFA charter, you must successfully pass through the CFA Program, a graduate level self-study program that combines a broad curriculum with professional conduct requirements, culminating in a series of three sequential exams. Level I exams are typically held four times a year and Levels II and III are held two/three times a year.
As a CFA Program candidate, your course of study is determined by the Candidate Body of Knowledge (CBOK). The CBOK is grounded in practice. This means that panels and surveys of current investment professionals have determined the knowledge, skills, and abilities you’ll need to succeed in the workplace. This practice analysis involves thousands of charterholders across the world and helps determine the CBOK, which is the framework for the curriculum and exams.
Previous CFA candidates have reported that a minimum of 300 hours reading and reviewing the curriculum and taking online sample and mock exams to master the material (learn more about scheduling your time). This recommendation, however, may underestimate the actual hours needed for appropriate exam preparation depending on individual circumstances and academic background.
Where do I take exams?
Exams for all levels are held in locations around the world including Sydney, Australia at official CFA Institute test centers (not at UTS). All CFA exams (at all levels) are computer based, meaning that your answers will be inputted into a computer at the designated test center. You can take as long as you need to complete the program, and there is no limit to the number of times you can take each exam, however there are minimum waiting periods before a failed exam can be retaken. Furthermore, the curriculum changes each year to meet the dynamic nature and complexity of the global investment profession.
Do you want more information?
For more information on CFA at UTS, contact the University Affiliation Program Director, Dr. Kristoffer Glover, CFA, FRM at kristoffer.glover@uts.edu.au.
