The CFA Program is organized into three levels, each culminating in a six-hour exam. The program curriculum progresses in complexity as you move through the three levels:
- Level I: Focuses on a basic knowledge of the ten topic areas and simple analysis using investment tools
- Level II: Emphasizes application of investment tools and concepts with a focus on valuation of all types of assets
- Level III: Focuses on synthesizing all of the concepts and analytical methods in a variety of applications for effective portfolio management and wealth planning
Candidates report dedicating in excess of 300 hours of study per level to prepare for each exam.
Study Tools and Materials
The following resources are provided to registered candidates:
Mobile Study App
All study materials and tools are available using the CFA Program mobile study app:
For your Android device | For your Apple device
Candidates should be able to succeed by studying the curriculum and mastering the LOS; however, some candidates may benefit from taking prep courses or using review notes. These should be used to supplement and not replace the CFA curriculum.