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Kaplan Financial - Home > Training and Quals > International Students > Professional Qualifications > CFA > Exam structure and contents

CFA exam Structure and Contents

The exam consists of three levels, each of which must be passed before progressing to the next. There are no time limits for completing all three levels.

  • The Level I CFA exam is sat in both June and December of each year
  • The Level II and III exams are only available in June of each year
  • The CFA exam date is the first Saturday in the month

CFA - About the examination 1

Content of the CFA exam

  • All three levels consist of two three hour papers taken on same day
  • The CFA Institute recommends preparation time of at least 250 hours per level
  • The CFA Institute reserves the right to slightly vary the weights in each exam

CFA - About the examination 2

Back to the International CFA® page

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Exam structure and contents