Claritas Exam Details

The Claritas computer-based exam consists of 120 multiple-choice questions and is administered in English at many Pearson VUE test centers around the world. See if the exam is offered in your area.

Exam Timing

Candidates should allow up to two and a half hours at the test center, which includes time to

  • check-in (two forms of valid ID will be required; review the ID policy),
  • go through the exam tutorial,
  • review and agree to the Claritas Candidate Pledge, and
  • complete the two-hour, multiple-choice exam and review your answers.

You will have two hours (120 minutes) to complete the exam questions and review your answers (approximately 30 seconds to one minute per question).

While taking the exam you will be able to “flag” questions to review after you've completed all the questions, but the time you take for review is part of the 120 minutes allotted for the exam completion.

Exam Questions

The exam questions cover all the topics included in your eBook; however, some topics are emphasized more than others. Below is the approximate weighting for each module and access to some sample exam questions.

Approximate Topic Weights*

Module 1 Industry overview: 5%
Module 2 Ethics and regulation: 10%
Module 3 Inputs and tools: 20%
Module 4 Investment instruments: 20%
Module 5 Industry structure: 20%
Module 6 Industry controls: 20%
Module 7 Serving clients needs: 5%

*Weightings are subject to slight variation to ensure an equal balance of difficulty for all candidates.

Sample Questions*

13. Which of the following bonds contains an embedded option that provides the issuer certain rights?
  • (a) Putable bond
  • (b) Callable bond
  • (c) Convertible bond
Find the answer to this question and view more sample questions (PDF).

*Sample questions are provided as examples of the types of questions that may appear on an actual Claritas exam, but they do not predict what you will see on your exam.

At the Test Center

Learn more about the test center experience, including what to expect at check-in.
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Exam Results

You will receive a preliminary exam result on-screen immediately after you complete your exam at the test center. CFA Institute will email you once your official result is available in your account profile.

If you pass the exam, you will receive your certificate 3 to 4 weeks after your official result has been posted.

If you do not pass the exam, we suggest you review your final test results to see which areas require additional study and register for the exam again. Remember to reconnect with peer study groups and resources available via social media. If you re-register, you will be responsible for the standard registration fee. You may register and take the exam a maximum of three times in a calendar year and five times in a lifetime.

If you registered for the Claritas exam using an employer-issued voucher, you acknowledged and agreed that CFA Institute can share your exam result information with the entity that issued the voucher.

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