The CFA exam, which is held twice every year, is scheduled for 5th December in India this year. The CFA exam essentially tests your fundamental knowledge of the Finance domain. Anyone having a graduate degree is eligible to appear for the exam. People having degrees in domains other than finance are also eligible. These days engineers, doctors, MBAs who want a career in risk management, investment banking, opt for this exam.
The exam is categorized in 3 levels, based on the level of difficulty of the exam. The Level I is held twice a year whereas Level II and III are held only in June.
The syllabus is divided into following subcategories
I. Ethical and Professional Standards
II. Quantitative Methods
IV. Financial Reporting and Analysis
V. Alternative Investments
VI. Corporate Finance
VII. Equity Investments
VIII. Fixed Income
X. Portfolio Management and Wealth Planning
The fees of the exam is 1110 USD. The last day of registeration is 24th August. Post enrollment, the candidate is given CFA cirriculam and material.
Preparation for the exam
The exam is easier for candidates who are from finance background, but could be a bit tricky for non-finance backgound candidates. It requires regular practice and study for at least 4-5 months to pass the exam. Ethics and Financial statement ananlysis carry maximum weightage. Students are also expected to clear cutoff of every section separately. The syllabus is pretty vast as it covers domains of Mathematics, Finance, Derivates, Equities and Ethics.
Essentially, a sytematic approach towards your preparation can help you master the fundamentals and ace the exam. Practicing numerical and theory questions,everyday from CFA material, can help you understand about the genre of questions asked in the exam. It's also important to know that just reading the material won't be sufficient to clear the cutoff, as the exam is competitive, questions can be tricky. A clear cut approach is to practice as many mock exams as possible, revising important formulae and their application can help you gain the insight on how to attempt the question.
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