CFA Level 1 Eligibility Requirements 2021
CFA level 1 2021 eligibility requirements- The CFA® Institute has updated the Level 1 Eligibility requirements CFA 2021 on their official website. Candidates need to enrol in the CFA program and register for the Level 1 exam. To register for the CFA exam, the basic CFA® exam requirements include an international passport, bachelor’s degree and 48 months of professional experience. The CFA® level 1 requirement should be fulfilled to become a CFA charter holder and sit for the CFA level 1 exam. The candidates can be in their final year of Bachelor’s while appearing for the CFA Level 1. The professional experience counts when the candidate passes the Level 1 CFA examination and want to use the designation in their career. For more information regarding the eligibility criteria of CFA level 1, refer to the details on this article.
CFA® Level 1 exam requirements
There are specific work and education requirements which are required to register for the CFA® level 1 2021 exam. CFA® Institute may request for proof of education and work documents at any stage of the CFA program to ensure that the CFA® level 1 2021 eligibility requirements are met. Candidates should be able to fulfil any one of the given eligibility criteria of CFA level 1 given below:
A complete Bachelor’s degree or equivalent degree from a recognised college or university.
Be a final year student at the time of enrolling into the CFA program or registering for the Level 1 exam.
Have 48 months or 4 years of experience in a professional working environment.
A combination of 4-year work experience and complete an educational degree.
There are also other basic eligibility requirements for CFA Level 1 2021 that will be required to attempt the CFA® level 1 2021 exam.
The CFA candidates should have a valid international passport.
Candidates should be proficient in English to attempt the reading comprehensions and the complex financial scenario-based formulas.
Candidates need to complete professional conduct criteria by filling a conduct statement form.
Candidates need to pay enrollment and registration fees.
They should be citizens of participating countries
CFA® Work Experience Requirements
One of the CFA® eligibility requirements includes a work experience of 48 months or 4 years. The work experience can be related or non-related to investment but the candidate should ideally have high-level judgment skills and business skills.
Leadership and teamwork
Business communications
Critical thinking and problem solving
Time management
Professional judgement
Analytical skills
Adaptability
CFA® level 1 Exam 2021 Curriculum
Candidates appearing for the Level 1 exam need to put in 300+ hours of study to clear the exam and cover all the topics from the curriculum. The curriculum topics include the following 10 areas:
Curriculum topic weights
Topic | Exam Weight |
Ethical and Professional Standards | 15-20% |
Quantitative methods | 8-12% |
Economics | 8-12% |
Financial Reporting and Analysis | 13-17% |
Corporate Finance | 8-12% |
Equity investments | 10-12% |
Fixed income | 10-12% |
Derivatives | 5-8% |
Alternative investments | 5-8% |
Portfolio management and Wealth planning | 5-8% |
CFA® exam Levels
The CFA aspirants need to pass all three level of CFA® exam to become a CFA charter holder. The Levels are divided into Level1, Level 2 and Level 3. Focus areas and difficulty of the exam keeps increasing for each level. There are 4 Level 1 exams to be conducted in 1 year.
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Frequently Asked Question (FAQs) - CFA Level 1 Eligibility Requirements 2021
Question: I am a final year student. Can I attempt the CFA exam?
Answer:
Yes, you can attempt the Level exam or enrol in the program while being in the final year of studies but you need to complete your studies to attempt Level 2 of CFA exam.
Question: I have 2 years of work experience and 2 years of study experience as I worked during my studies. Can I apply with the professional work experience?
Answer:
No, candidates need to complete their studies or 4 years of work experience. These two criteria should not be overlapping.
Question: Do I need to submit proof of my work experience while enrolling for the CFA program or registering for the Level 1 exam?
Answer:
No, the CFA Institute does not ask for work experience proofs while registration but the institute might ask for salary slips, employment letters and other work-related documents at any level or even after becoming a charter holder.
Question: Will I be able to get a job after clearing CFA level 1?
Answer:
Yes, candidates can get a job after clearing CFA level 1 but it will not be a very good profile job.
Question: When do I have to pay my enrollment fees and registration fees?
Answer:
The enrollment fees are paid one time when you enrol for the CFA program. The registration fee and enrollment fee will have to be paid together during the registration of the Level 1 exam.
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