Popular Questions asked by CFA Aspirants
CFA or Chartered Financial Analyst examination is believed to open new pathways and opportunities for candidates with a finance or commerce educational background. Although the CFA exam is counted as one of the toughest exams in the world, yet every year many candidates appear for the three levels of CFA exams for career growth and better opportunities.
With opportunities banging in and the scope for a substantial salary hike, aspirants look forward to the preparations for these high-profile financial designations. If you are reading this, you must be one of those hopeful candidates who want to crack this examination for better job roles.
Since the CFA curriculum is an extensive one that covers the most contemporary financial topics and tools, one needs to be innovative in their preparation. One such way can be to join a CFA level 1 prep course that will provide the required guidance and study materials through textual and visual content.
However, along with the most dedicated preparation, there are some other essential information and details, the partial knowledge of which must be giving you cold feet. Through this post, we will try to take you through the most asked questions about CFA in various search engines.
Frequent Queries of Aspirants Regarding CFA:
Is CFA a financial degree?
CFA can be considered as a Master’s or post-graduate level degree. However, to be more precise, it is a designation that can be obtained by passing the three levels of CFA exams that focuses on developing skills in investment analysis and building expertise.
What can I expect in CFA level 1?
The CFA level 1 curriculum is designed by the CFA Institute keeping in mind the contemporary financial topics and tools so that the successful candidates are equipped with the specific knowledge. The curriculum devised by the CFA Institute is an extensive one with 10 essential topics that are introduced in level 1 and further deep-dived in levels 2 and 3.
How to prepare for the CFA level 1 exam?
If experts and successful candidates are to be believed, 300 hours of study is a must for the preparation for CFA. Along with the study materials provided by the CFA Institute, candidates can also enrol on a CFA level 1 online course with some reputed institutes for focussed content and detailed preparation.
Is it possible to get a CFA without a job?
The CFA institute allows a candidate to sit for the CFA exams without a job. However, to complete the process and to be finally able to become a Charterholder, you need to have experience working in any financial position. The work experience along with the CFA designation helps in evolving the career and getting better opportunities.
Which sectors have the greater demands for CFA holders?
With a CFA designation, you are paving your way to a career in finance and investment. The sectors that have the most demand for CFA positions are traditional investment advisors for mutual funds, fixed-income, hedge funds, etc.
Is it essential to have a financial background to appear for CFA exams?
Well, the CFA designation requirements nowhere mention an educational background in finance. So, anyone with the relevant qualification and job experience can sit for the CFA exam. It is just a popular belief that usually candidates with an educational background in finance are interested in CFA designation. In other words, it can be said that the finance background can be an added advantage during the preparations. But you must know that your success in the CFA examination does not depend on your educational background but on your dedicated preparation.
Is the curriculum provided by the CFA Institute enough for the preparation?
No doubt the CFA institute provides relevant study materials and contents that can be helpful in the preparation, but it is never a wrong decision to pine for more. While preparing for exams like CFA, you need to be well-equipped with information and have your concepts cleared. And for that to happen, no amount of help is too much help. Taking help from third-party prep providers and enrolling on a CFA level 1 prep course can only be beneficial. However, it is recommended that you give yourself enough time to practise along with preparation for the best results.
What is the minimum time required to complete CFA?
The minimum time required to complete a CFA is about 18 months. This much time will be required to prepare and pass the consecutive 3 levels of CFA. This can be calculated to 6 months of preparation for each level and passing each level in the first attempt itself. However, you must know that you get a maximum of six attempts for each level.
Wrapping Up
These are some of the frequently asked questions by candidates who are appearing or are planning to appear for the CFA exams. These answers will help you in clarifying your queries regarding the CFA level 1, 2, and 3 examinations.
And for any curriculum-related queries, it is better to enrol on a CFA level 1 online course for better guidance. The online prep providers design contents that are concept-focused, and detailed, and also offer practice opportunities.
So, do not waste more time, get yourself enrolled on a CFA course and start your preparations today for a successful career ahead. All the Best.