Once you have decided to pursue the CFA Charter, the first step is a registration with the CFA Institute for your candidature. Registration can be a long process and one has to keep in mind a variety of factors such as program fees, enrolment guidelines, registration deadlines, etc. Below you will find all the important details that you need to know before you register for the CFA Exam.
Enrolment Requirements
To become a CFA candidate, you must enrol in the CFA Program before you can register for the Level I Exam. The CFA Program has certain provisions you need to satisfy in order to become eligible for registration:-
Meet the education requirement in one of the following ways:
- Undergraduate education: A bachelor’s (or equivalent) degree or be in the final year of your bachelor’s degree program. You will have to complete your bachelor’s degree program in order to register for the Level II exam
- Work experience: Four years of professional work experience (does not have to be investment related), or
- A combination of professional work experience and education that totals at least four years. Part-time positions do not qualify, and the four-year total must be accrued prior to enrolment.
- Have an international travel passport. The CFA Institute requires that every CFA Program candidate have a valid international travel passport to register and sit for the exam.
- Be prepared to take the exams in English. The CFA Program exams are only offered in English.
- Meet the professional conduct admission criteria. All candidates in the CFA Program must complete a Professional Conduct Statement form to attest that they are in compliance with this requirement.
- Live in a participating country. There are some countries that CFA Institute cannot work with. Be sure your country is not excluded from participation in the program.
Step-by-Step Registration Process
The first step is to create an online account on the CFA Institute website. This can be done any time before the actual registration for the exam. However if one if looking to apply for the several scholarships provided by the CFA Institute, different registration details have to be kept in mind. The CFA Institute offers a variety of scholarships for its candidates to promote the heist standards of education and professional excellence. The list of available scholarships is as follows:-
- Access Scholarship
- Women’s Scholarship
- Student Scholarship
- Professor Scholarship
- Regulator Scholarship
- Media Scholarship
For further details regarding scholarship guidelines, prerequisites and application dates, visit: www.cfainstitute.org/en/programs/cfa/scholarships
The next step involves the payment of fees. After you have decided on which level and during which time you decide to take the exam, one has to initiate payment for the subsequent fees with the CFA Institute.
The CFA Program Fee is divided into two parts:-
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Program Enrolment Fee
This is a one time program enrolment fee that is required to be paid when you register for your first Level 1 CFA exam. The Program Enrolment Fee currently is USD 450. Since this is a one-time registration fee, this need not be paid again at the time of retaking the CFA exam.
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Exam Registration Fee
This fee is paid for each exam that the candidate takes. Thus before retaking the exam, the registration fee has to be paid accordingly for each test that you take. The details for the exam registration fees are given below
- June 2019 Exam (Levels I, II, III)
- Early registration fee USD 650 (ends 17 October 2018)
- Standard registration fee USD 950 (ends 13 February 2019)
- Late registration fee USD 1,380 (ends 13 March 2019)
- Alternatively, one can also check the current fee status online on the CFA Institute website.
The final step comes after the payment of the program fees. After you have paid the required fees, you are part of the CFA Program. During the registration process, you are asked to agree to the provisions of the Candidate Agreement, which includes the Conduct and Responsibility Statements. It provides for possible exam violations and other relevant guidelines. You must also submit your Professional Conduct Statement upon your first CFA exam registration and then annually and before every next exam registration.
What Should I Expect After Submitting the Application?
If your application is approved, you will receive an official acceptance by email within 2-3 days. If you don’t hear from them after 3 days, contact CFA Institute by email.
You will also receive the admission tickets in electronic format:
- June exam: available in early May
- December exam: available in December
