CFA Level 1-Details

About CFA

CFA an abbreviation for Chartered Financial Analyst is one of the most sought after degree for people planning to make a career in finance. For gaining this prestigious degree, you have to cross three exams. Don’t fret! There are many people who can help you in this and if you are in Mumbai, here are some CFA Classes in Mumbai that can help you gain this degree, one of them being

What is CFA?

CFA (Chartered Financial Analyst) is a Post Graduate Degree in Finance. Unlike MBA, that only covers general aspects of management and business, CFA Program stresses more on Finance aspect.

CFA Level 1 is one of the first exams you need to gain this degree.

CFA Scope

Today CFA course in India is considered as the highest standard of professional excellence. If you are someone who wishes to get placed in an elite company like Finacial Big Fours, then all it would take is passing the rigorous exams starting from CFA Level 1 and confirming your mastery. This certification ensures that you are equipped with hands-on knowledge in the investment industry. To build a remarkable reputation among your clients, employers or colleagues, you have to commit to ethical behavior and proficiency at work. Therefore, being a CFA charter will uplift your credibility in the eyes of clients and colleagues.

Benefits from company's perspective

Companies are on the lookout for people who are infused with asset-management skills, can formulate investment strategies and perform investment analysis. Since MBA’s are only exposed to non-financial subjects like marketing, human resources, organizational behavior and others, lack of financial planning has become a great concern. In order to fill that gap, CFA Program came up with comprehensive and exhaustive exams dedicated to prepare individuals entirely to carve a Finance Career path.

Positions in Professional Field:

Everyone who is already in Finance field or wishing to switch their careers can choose from a myriad of job roles like as follows:

  • Portfolio managers
  • Private bankers
  • Fund of fund managers
  • Financial advisor
  • Relationship manager
  • Financial strategists.
  • MBA’s and CA’s can join CFA to get into core investment banking jobs.

Salary Expectations

Acquiring a CFA charter will help you draw more salary than your uncertified peers. Not only CFA charter opens doors of opportunities for you but also lets you benefit from high compensation.

A CFA charter holder at entry level can earn an annual salary of 4 lakhs. Your salary will increase as you grow. With seven to eight years in this field, your average salary can shoot up to 12 lakhs. You can earn over 19 lakhs with more than 10 years of experience under your belt.

Registration Process for CFA Level 1

Students require:

  1. An international travel passport and

One of the following:

  1. A bachelor’s degree, or equivalent
  2. Four years of professional work experience
  3. A combination of professional work experience and education that totals at least four years.

Note- Part-time positions do not qualify, and the four-year total must be accrued prior to enrollment.

If you fulfill the above-said conditions you can directly apply online here.

And the real struggle starts, passing CFA Level 1 exam is easy if you have complete determination.

Understand and prepare for CFA Level 1 with this exam structure:

Topics that will be covered on the CFA Level 1 Exam include:

  • Ethical and professional standards
  • Investment tools, including (but not limited to):
  • Corporate finance
  • Economics
  • Financial reporting and analysis
  • Quantitative methods
  • Asset classes, including (but not limited to):
  • Alternative investments
  • Derivatives
  • Equity investments
  • Fixed income
  • Portfolio Management and Wealth Planning

Other Details

Format of CFA Level 1 Exam

The CFA Level 1 Exam consists of 240 multiple-choice questions and is divided into two sessions, with 120 questions asked in the three-hour morning session and 120 in the three-hour afternoon session. Three unique choices will be offered as answers, and test takers must choose the most appropriate answer to the question. Words such as except, true, false, all of the above or none of the above are not used in these multiple choice questions. Because all answers are weighted equally, candidates are not penalized for guessing.

Examination Fees and Deadlines

The CFA Institute sets examination and curriculum fees and deadlines which may change annually. Usually, three options are available for paying for the curriculum: purchasing the eBook only, purchasing the print format only, or purchasing both. Curriculum and examination pricing details may be found at the CFA Institute website. Deadlines for purchasing the curriculum usually fall nine months, four months and three months prior to the next examination date (December or June).

Where to take the CFA level 1 Exam

The CFA Level 1 Exam is usually administered on the first Saturday in December and June. Locations around the world are CFA Level 1 Exam testing centers. A listing of all current testing centers may be found on the CFA Institute’s directory.

Grading and Examination results

Level 1 Examination results are available online within 60 days of the exam date. Individual results will be mailed to each exam candidate, with topic area results tabulated. The minimum passing score is set each year by the CFA Institute and varies from one year to the next. The CFA Institute reports that 38 percent of test takers passed the June 2012 administration of the Level 1 Exam. Historically, the pass rate for this exam usually falls between 37 and 42 percent.