How Long Does It Take?

When to Sign Up   The Level I exam is held in June and December each year   View the program calendar to plan your schedule

 

Completing the CFA Program exams can take you as little as 18 months. But on average, it takes about four years to earn a CFA charter.

 

Preparing for the Exams

Most successful candidates spend a substantial amount of time preparing for the exams. You should set a schedule that you're comfortable with and that fits your personal and work demands.

 

A good plan is to devote 10-15 hours per week for 18 weeks to studying for each of the exams. You can use the final four to six weeks before the exam to review what you've learned and take online sample exams.

 

Following this plan will give you the minimum 250 hours of preparation that we believe you need to get ready (it may take you longer).

 

Vincent Fournier, CFA, says the CFA Program's self-study curriculum requires discipline. He spent more than 350 hours preparing for the Level II exam because he'd heard how hard it was. "I thought the exam was easy. But I took the time. I studied at least one time and a half the suggested timeframe."

 

When Should You Take Your Exam? 

By the Numbers   An average of 4 years to complete the program 6 months of preparation for each exam 250 hours minimum of study time = 10-15 hours per week

Like many charterholders, Mamokete Lijane, CFA, worked full-time while she was in the program. She found the time to study by getting up at 4 a.m. each morning. 

 

If you work full-time, you'll probably spend about six months preparing for each exam. If you don’t work full time, you may need less time.

 

It's important to figure out how much time and how many hours you can commit to studying during your week and allow for at least 250 hours total study time before the exam. Make sure to take into account events and holidays that may interfere with your schedule.

 

When to Register

Registration usually opens about 11 months before each exam, so that should give you enough time to study and ensure that you get that six months of preparation. And remember that beginning with the June 2008 exams, you'll receive the curriculum with your registration so you can begin studying right away.