CFA: Full Form, Course Details, Exam, Level 1, Institute, Salary in India 2023

CFA Full Form Overview

CFA stands for Chartered Financial Analyst. CFA is a professional degree provided by the CFA Institute in the United States. The duration of a CFA course spans from 1.5 to 4 years. Candidates for CFA admission must be graduates from any discipline. Candidates in their last year of graduation, on the other hand, can apply for admission to CFA Level I. There is no admission examination for the CFA programme. Before beginning the course, applicants must first register themselves. Candidates must complete all three levels of the Chartered Financial Analyst programme. CFA Level I, CFA Level 2, and CFA Level 3 are the three levels. In India, CFA course fees range from INR 190,000 to INR 5,86,000. Banks, audit companies, legal firms, investment firms, and other industries are among those where applicants might find work after completing the course.

After completing the CFA course, candidates can work as Chartered Financial Analysts, Investment Managers, Portfolio Managers, and other positions. A Chartered Financial Analyst without a CA degree might earn between INR 4,00,000 and INR 20,00,000. Following graduation, a Chartered Financial Analyst is placed at prominent financial firms such as JP Morgan, PwC, HSBC, PBC, Ernst and Young, and others.

Chartered Financial Analyst (CFA) Course 2023 Highlights

The following is the table showing the highlights of CFA 2023-

CFA Full Form

CFA in its entirety The CFA Institute in the United States offers a professional Postgraduate certification programme called Chartered Financial Analyst. Equity Investment, Corporate Finance, Derivatives, Financial Reporting and Analysis, and other topics are covered in the course curriculum. The CFA programme equips students to be competent and ethical working professionals. In 2019, a record 24,997 CFA applicants (an increase of 16%) took the CFA level 1, level 2, and level 3 exams.

Also Check: What is Chartered Accountancy? Quick facts about CA.

Why study CFA Course?

One of the most well-known business courses is Chartered Financial Analyst. Students who obtain a CFA degree receive almost the same amount of money and recognition as those who complete a CA or CS course.

Also read: How to Become Company Secretary (CS)

Chartered Financial Analysts are in high demand, and they will be able to work in a variety of financial institutions. The CFA Institute now offers a Certificate in Investment Performance Measurement as well as an Investment Foundations Program. The CFA course details provide a number of certificate programs, including the Certificate in ESG Investing, the Investment Foundation Certificate, and the Certificate in Investment Performance Certificate. It is best recognized for its Chartered Financial Analyst Course.

CFA Course Eligibility

1. Candidates interested in working in the financial services business should enroll in the course.
2. Candidates who desire to work as Portfolio Managers, Risk Managers, Financial Advisors, and other positions should take the CFA exam.
3. The Chartered Financial Analyst program also helps individuals to transition from traditional degrees such as B.Com, M.Com, and others to a professional education that provides improved career opportunities.
4. Candidates who aspire to become entrepreneurs and start their careers as financial advisors can also enroll in CFA certification courses.
5. Candidates with prior finance work experience might enroll in this course to increase their career prospects.

When to study CFA Course?

To participate in the CFA full form program, you must put in a lot of time and work. To choose the best time to undertake the course, candidates must consider the following factors are given below-

1. Before applying for the Chartered Financial Analyst, candidates must have a total of 4 years of experience.
2. Candidates must acquire financial resources to continue with the Chartered Financial Analyst program, which is fairly expensive, with typical costs ranging between INR 190,000 and INR 586,000.
3. Because CFA course details are quite tough, working professionals must devote a significant amount of study time to finish the course.

CFA Full Form Admission Process 2023

The CFA certification course does not need an entrance examination for admission. In order to begin this course, applicants must first register with the CFA Institute.

The following are some of the CFA program's eligibility or prerequisite requirements-

1. Admission to the CFA program is determined by a merit list.
2. The CFA institute bases its entrance standards on the job experience in addition to graduation grades.
3. Before they may register for the test, applicants must first create an account on the CFA website.
4. Candidates can apply for scholarships at any time during the registration process.
5. Candidates can choose between multiple test cycles based on their preferences for the various levels of examination.
6. Candidates can register for the next level only after passing the previous level.

• Eligibility Criteria for CFA Course Details

In order to qualify for the course, CFA candidates must satisfy the following CFA eligibility criteria-

1. Candidates must have completed a bachelor's degree or similar program from a recognized university or institution.
2. Candidates in their last year of their Bachelor's degree program may also apply for the CFA course.
3. Candidates must, however, complete their Bachelor's degree before taking the CFA level 2 exam.
4. Candidates must have a minimum work experience of 4 years or a combination of 4000 hours of work experience or higher education acquired over a minimum period of 3 sequential years before registering for the level 1 exam.
5. An interesting CFA requirement is that people who are conducting an internship, articleship, or running their own business will be counted as work experience if you can verify that they are paid for it.

Work experience in the investing sector is not required, however, candidates must exhibit the following abilities:

1. Business communications
2. Critical thinking and problem-solving,
3. Time management,
4. Professional judgment,
5. Analytical abilities, and Flexibility
6. Another criterion of the CFA is that applicants have an international passport.

One of the most crucial requirements for Chartered Financial Analyst applicants is that they are proficient in English because the study material and tests will be administered in English. Candidates must also provide a professional compliance statement.

How to Apply for CFA Course 2023?

CFA tests are administered four times a year, in February, May, August, and November. The following are the processes for applying online for CFA exams-

1. To register, candidates should go to the CFA website.
2. Choose the Level of exam in which you wish to participate.
3. Make an appointment to take the test.
4. Choose the dates, hours, and test locations that works best for you from the options accessible on the official website.
5. Fill in the information from your foreign travel passports, such as the date of birth, passport number, name, and address.
6. Choose the qualifying requirements for the level of exam you are taking.
7. Read and double-check policies and terms and conditions.
8. Select study materials for the appropriate exam level.
9. Payment choices for the CFA registration fee include credit card, debit card, check, and money order.
10. Save and print the CFA exam application form.

CFA Courses Fees

In the enrolling process, the CFA fees in India are INR 27,090. The following are the detailed CFA Course Fees-

CFA Full Form 2023 Exam Pattern

The CFA test is given at several levels throughout the year. The weightage of the course content changes according to the test level. The passing percentage for the various levels is fairly low, hovering between 40 and 50 percent. The following table shows the details of exam pattern-

CFA Course Important Dates

• CFA Level 1 Details

• CFA Level 2 Details

• CFA Level 3 Details

The CFA Level 3 test is the ultimate level of certification for Chartered Financial Analysts. It focuses on asset management and wealth planning. The exam date for the CFA Level 3 is August 30 - September 6, 2023, and is worth 360 points, or one point every minute. The CFA Level 3 test lasts 4.5 hours in total, with each session lasting 2 hours and 15 minutes. There are also essay questions with varied points assigned to them.

CFA Course Syllabus

The entire CFA syllabus is separated into three levels. CFA Level 1, CFA Level 2, and CFA Level 3. The CFA level 1 syllabus consists mostly of fundamental principles from the academic fields of finance and investment. Candidates can advance to the next level only after completing the previous level's test. The program is created so that applicants get an in-depth understanding of areas such as investment depth, investment decision-making, financial accounting, derivatives, stock market, and so on.

Related Article: Best Courses After B.com.

CFA Course Subjects

The regular CFA curriculum comprises the following subjects:

• CFA Syllabus: Core Curriculum

The course content of the CFA 2023 Exam, centered around ten key curriculum subjects. Although the CFA course syllabus includes almost the same subjects in each level of exam, the exam difficulty level increases with the level of exam.  The basic curriculum subjects are listed below-

Reference Books for CFA Course

Candidates can prepare for the CFA 2023 certification course by reading many reference materials mentioned below-

CFA Institutes

Previously, the CFA Institute was known as the Association for Investment Management and Research (AIMR). The CFA Institute ensures that investment professionals meet high-quality requirements through its tests and certificates. In addition, the CFA Institute offers a Certificate in Investment Performance Measurement and an Investment Foundations Program. The CFA Institute is managed by a 20-member board of directors, each of whom is chosen for a three-year term. This organization's headquarters are in Charlottesville, Virginia, and it maintains regional offices in New York, Beijing, Hong Kong, Mumbai, London, and Brussels. It is recognized as a standard of choice by 31,000 investment institutions.

The CFA Institute provides a number of certificate programs, including a Certificate in ESG Investing, an Investment Foundation Certificate, and a Certificate in Investment Performance Certificate. It is best recognized for its Chartered Financial Analyst Course. The CFA Institute has graduated approximately 178,000 Chartered Financial Analysts, who have an impact on 162 markets (nations) worldwide.

Colleges offering CFA course in India

The list of universities offering the Chartered Financial Analyst program, as well as their tuition rates, is shown below-

CFA Course Comparison

CFA is a professional degree that many applicants pursue after college in order to begin their career as a Chartered Financial Analyst. Candidates sometimes mix up the terms CFA, CA, and MBA. The sections that follow compare the CFA course to the CA and MBA courses based on a few similar factors to see which offers the best employment prospects and outcomes are as follows-

1. CFA vs CA

CFA (Chartered Financial Analyst) and CA (Chartered Accountancy) are both outstanding courses that are distinct in their own right. Traditionally, applicants in India chose the CA course, but in recent years, the CFA degree has been able to develop a place among student groups.

The following are some of the significant difference between CFA and CA-

2. CFA vs CMA

Candidates may find it difficult to pick between CFA and CMA because both are well-known management and finance certification courses. CFA courses provide financial management, risk management, and other financial management abilities, whereas CMA courses primarily teach accounting management and develop accounting skills.

The following table contains comparisons between CFA and CMA based on several parameters-

3. CFA vs FRM

CFA and FRM are well-known certificate programs. The CFA program gives an in-depth understanding of financial and investment management, as well as other ideas. However, FRM, or Financial Risk Management, teaches Quantitative Analysis, Financial Markets and Products, and a variety of other ideas

The following table compares the differences between CFA and FRM based on numerous parameters-

4. CFA vs MBA

The MBA degree is popular among graduates since it provides them with a higher income and a better earning job upon completion. The CFA, on the other hand, allows applicants to study investment management, financial accounting, and other topics. The CFA certification is also highly valued across the world and can help you land fantastic positions in the future.

The following are the distinctions between MBA and CFA based on the factors listed below-

Also read more about the difference between CA, FCA and CFA. Click Here.

Know more about CAT Books here.

Click here to know How to Prepare for CAT Exam?

CFA Jobs and Salary

After completing the CFA certification course, a Chartered Financial Analyst can work as a Business Consultant, Investment Manager, Private Banker, CFO, and many other professions. Candidates may expect to earn between INR 8,00,000 and INR 20,00,000. The following table gives details about the CFA pay in India for various job categories below-

Also read more about the- CA Salary In India.

Top recruiters of Chartered Financial Analyst (CFA) Course

The following are the top Chartered Financial Analyst recruiters-

1. JP Morgan
2. PwC
3. Citigroup
4. HDFC Bank
5. ICRA
6. ITC
7. The Goldman Sachs Group Inc.
8. Hindustan Unilever Ltd.
9. Earnst and Young
10. SBI Bank
11. HSBC
12. Credit Suisse
13. Deloitte
14. Axis Bank
15. Aditya Sun Life
16. Emami Agrotech Ltd
17. ICICI Bank
18. Reliance Industries Limited
19. Bharti Airtel
20. Crisil

CFA Course Important Exam Tips 

The following is the list of CFA exam tips-

1. Look for the prior year's question papers, which will be really useful.
2. Create a strategy for studying for the CFA tests.
3. Spend at least 13 hours every week for at least 6 months preparing.
4. Make it a habit to use diverse memory strategies.
5. Maintain a healthy lifestyle by eating nutritious meals and getting 8 hours of sleep every day, especially before the exam.
6. Cover all test subjects at least one month prior to the exam's start date.
7. To relieve exam stress, take advantage of the different mock examinations accessible.
8. Visit the exam center a day before the exam to minimize last-minute uncertainty about where to go.
9. Before the exam, have a good night's sleep.
10. To prevent traffic, arrive at the exam center an hour early.
11. On the day of the exam, be calm.