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BERKELEY SCHOOL OF BUSINESS, ARTS & SCIENCES

CFA – Chartered Financial Analyst (Level 1, Level 2 and Level 3)

Chartered Financial Analyst (CFA) certification is a globally recognized credential awarded by the CFA Institute, designed for finance and investment professionals aspiring to excel in areas such as portfolio management, investment analysis, and wealth management.

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Overview

The Chartered Financial Analyst (CFA) certification is a globally recognized credential, designed for finance and investment professionals aspiring to excel in areas such as portfolio management, investment analysis, and wealth management. Regarded as the gold standard in the investment industry, the CFA program equips candidates with a comprehensive understanding of financial analysis, ethical standards, and global investment practices. Structured across three levels, the program demands rigorous study and demonstrates mastery of complex financial concepts and decision-making skills. Earning the CFA charter signifies a high level of expertise, dedication, and professional integrity, opening doors to advanced career opportunities in the competitive world of finance.

Offered by

Awarded by the CFA Institute.

Head office

Headquartered in Charlottesville, Virginia, USA

Members

With over 200,000 members, CFA Institute is a leading global association for investment management professionals.

Vision & Mission

CFA Institute aims to be a global leader in advancing the investment profession by emphasizing ethical standards, quality education, and professional excellence to benefit society. It focuses on supporting investment professionals through initiatives that uphold ethical practices, provide access to top-tier educational resources, and build a global network dedicated to improving outcomes for investors and the industry.

What is the eligibility?

To be eligible for the CFA program, candidates must meet the following criteria:

Education:

  • Have a bachelor’s degree or equivalent, or
  • Be in the final year of their bachelor’s degree program at the time of registration, or
  • Have a combination of professional work experience and higher education totaling at least four years.

Work Experience:

  • If not meeting the educational criteria, candidates can qualify with a minimum of four years of professional work experience, which does not have to be investment-related but should involve decision-making and critical thinking skills.
Who can do?
anyone who is interested to learn about following concepts can pursue CFA – Chartered Financial Analyst (Level 1, Level 2 and Level 3):
Ethics & Professional Standards, Quantitative Methods, Economics, Financial Reporting and Analysis, Corporate Finance, Equity Investments / Equity Valuation, Fixed Income, Derivatives, Alternative Investments, Portfolio Management.
individuals with the following designations:
Investment Banker, Investment Analyst, Investment Advisor, Investment Manager, Investment Counselor, Chief Investment Officer, Investment Firm Manager, Equity Analyst, Portfolio Manager, Fixed Income Analyst, Portfolio Strategist, Portfolio manager, Research Analyst, Investment banker, Investment Consultant, Risk manager, Corporate financial analyst, Chief Executive Officer – CEO, Sales/ Marketing Professional, C-suite, Credit Structurer, Managing Director, Senior Vice President.

Course structure

The CFA course structure consists of three levels, each focusing on different aspects of finance and investment management.

CFA Level 1:

The CFA Level I curriculum provides a comprehensive foundation in the principles of finance and investment management. It is organized across 10 topic areas. The focus is on building a strong understanding of fundamental concepts, analytical tools, and the basics of asset valuation and portfolio management. With a balanced emphasis on theory and practical application, the curriculum prepares candidates for real-world financial decision-making while setting the stage for advanced topics in subsequent levels. (Click here to find the CFA Level 1 lecture plan)

Ethical and Professional Standards (15-20%)

Quantitative Methods (6-9%)

Economics (6-9%)

Financial Statement Analysis (11-14%)

Corporate Issuers (6-9%)

Equity Investments (11-14%)

Fixed Income (11-14%)

Derivatives (5-8 %)

Alternative Investments (7-10%)

Portfolio Management (8-12%)

CFA Level 2:

The CFA Level II curriculum emphasizes the application of financial tools and concepts to asset valuation and investment analysis. It builds on the foundational knowledge from Level I, diving deeper into topics. The curriculum features a case-based approach, with item set questions that test candidates' ability to analyze complex scenarios and apply concepts to real-world financial problems. Key focus areas include financial modeling, valuation techniques, and investment decision-making, providing a comprehensive framework for understanding how to evaluate assets in diverse market conditions. (Click here to find the CFA Level 2 lecture plan)

Ethical and Professional Standards (10-15%)

Quantitative Methods (5-10%)

Economics (5-10%)

Financial Statement Analysis (10-15%)

Corporate Issuers (5-10%)

Equity Investments (10-15%)

Fixed Income (10-15%)

Derivatives (5-10%)

Alternative Investments (5-10%)

Portfolio Management (10-15%)

CFA Level 3:

The CFA Level III curriculum focuses on portfolio management and wealth planning, emphasizing the integration of financial concepts into effective investment strategies. Building on the analytical skills developed in the earlier levels, it explores advanced topics such as asset allocation, risk management, performance evaluation, and client relationship management. A significant portion of the curriculum is dedicated to case studies and essay-style questions, testing candidates’ ability to synthesize information and construct tailored investment solutions. Level III equips candidates with the expertise needed to manage portfolios and address the complex needs of individual and institutional investors.

Ethical and Professional Standards (10-15%)

Derivatives and Risk Management (10-15%)

Portfolio Construction (15-20%)

Asset Allocation (15-20%)

Performance Measurement (5-10%)

Pathways (Portfolio Management or Private Markets or Private Wealth) (30-35%)

Learning Methodology

Berkeley offers expertly developed learning materials tailored to meet participants' needs, ensuring comprehensive coverage of the syllabus and optimal exam preparation.

‣ Tailored Material: Guides are designed to cover the entire syllabus, offering full preparation and deep understanding.

‣ In-Depth Content: Unlike superficial outlines, our materials provide fully developed theories and concepts, equipping participants with complete knowledge.

‣ Strategic Study: We help participants prioritize study time by indicating the weight of each topic, allowing efficient focus on crucial areas.

‣ Difficulty Levels: Topics are labeled as "Awareness" or "Proficiency," guiding participants to allocate time based on the required depth of knowledge.

‣ Comprehensive Coverage: Our materials include detailed theory and a glossary of technical terms to clarify complex concepts.

‣ Effective Learning Techniques: Visual aids and memorization techniques ensure long-lasting retention, helping candidates succeed.

Berkeley’s methodologies equip participants with the essential knowledge and tools for both exams and future success.

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Lectures

Our lecture plan integrates structured learning with interactive teaching methods, promoting engagement and collaboration. This approach ensures a comprehensive understanding of concepts, fostering critical thinking and practical application in real-world scenarios

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Practice Session

Practice sessions offer hands-on experience through guided exercises, enhancing skills and reinforcing knowledge. This practical approach ensures mastery of concepts, promoting confidence and competence in real-world applications

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Mock Examination

Mock examinations simulate real test conditions, providing valuable practice and assessment. This helps identify strengths and weaknesses, ensuring thorough preparation and boosting confidence for actual exams

Berkeley's performance standards

Evaluates and ensure the quality of the training program and all its deliverables.  This is measured through the following indicators:
‣ Instructors' experience and style in presenting and explaining topics.
‣ Variety and balance of teaching methods (such as discussions, case studies, mock exams and videos) used in the course to ensure retention and to match the learning objectives.
‣ Level of interactivity.
‣ Feedback from program participants
‣ Full compliance with Institute standards and guidelines for preparation and study requirements and methodology.
‣ Progress reports from the training program provider.

What are the Exam Information?

Exam Format & Duration

* Computer-Based Exams

Part/Module Exam format Exam duration
CFA Level 1:
  • 180 multiple-choice questions.
  • Morning Session: 90 MCQs
  • Afternoon Session: 90 MCQs

Each session lasts for 2 hours and 15 minutes (Total exam time is 4 hours and 30 minutes)
CFA Level 2:
  • 88 multiple-choice questions.
  • Format: Item sets (vignette-based)
  • Morning Session (Item Set Questions): 4-6 vignettes with 6 questions per vignette.
  • Afternoon Session (Item Set Questions): 4-6 vignettes with 6 questions per vignette.

Each session lasts for 3 hours (Total exam time is 6 hours)
CFA Level 3:

Morning Session – Constructed Response (Essay Questions)

  • Must write short-form answers and calculations for case study-based questions.
  • Includes 8–11 questions, each with multiple parts.

Afternoon Session – Item Sets (Multiple Choice)

  • Contains 11 item sets, each with 4–6 multiple-choice questions based on case studies.

Each session lasts for 2 hours 12 minutes each (4 hours and 24 minutes)
Exam Dates

CFA Level 1: Offered in February, May, August & November 

CFA Level 2: Offered in  May, August & November

CFA Level 3: Offered in February, & November

Passing Criteria

The CFA Level 1, 2, and 3 exams do not have a fixed passing score. The CFA Institute determines the Minimum Passing Score (MPS) after each exam based on overall candidate performance. Key points include:

  1. Minimum Passing Score (MPS): Typically ranges between 65%–70%, but the exact score is not disclosed.
  2. Ethics Adjustment: If a candidate is close to the MPS, strong performance in the Ethics section may help in passing.
  3. No Negative Marking: Only correct answers contribute to the final score.
  4. Relative Performance: Candidates must score above the MPS, which varies for each exam session.

Since the MPS changes, candidates should aim for 70% or higher to maximize their chances of passing.
Exam Locations

The CFA exams are held globally at more than 400 exam centers across various regions. Here is a breakdown of the global CFA exam locations and centers:

United States
Canada
United Kingdom
Germany
France
Switzerland
Spain
Italy
Netherlands
China
India
Singapore
Japan
South Korea
Malaysia
Thailand
United Arab Emirates
Saudi Arabia
Qatar
Kuwait
Bahrain
Oman
Egypt
South Africa
Nigeria
Kenya
Brazil
Mexico
Argentina
Australia
New Zealand
Success Stories

“As a strong advocate for education and human development, I commend Berkeley for its exceptional commitment to empowering future leaders. The institution stands as a symbol of excellence, innovation, and opportunity. Students who walk its halls are nurtured with knowledge, values, and vision—qualities that contribute to building a stronger and more prosperous future for our nation.”- H.H. Shaikh Khalifa Al Hamid

Visit our Alumni

Alumni Benefits

‣ Exclusive Networking Events: Access invitations to industry-leading events and thought-leadership gatherings featuring renowned speakers.


‣ Monthly Updates: Stay informed with a newsletter highlighting the latest research, events, and activities from the school.


‣ LinkedIn Community Access: Join the Executive Education LinkedIn group for networking and professional development opportunities.


‣ Educational Discounts: Enjoy a 20% discount on open-enrollment programs and access to workshops focused on emerging trends.


‣ Global Alumni Network: Connect with a diverse alumni community through the Berkeley School’s online network and engage in country and interest groups.

CFA Salary: Is It Worth the Investment?

By Region

  • North America: Higher salaries, with senior roles often exceeding $200,000 annually, particularly in financial hubs like New York.
  • Europe: Competitive pay, with mid-to-senior roles earning $120,000–$250,000, higher in London.
  • Asia: Growing demand for CFAs; salaries range from $100,000 to $200,000 in cities like Hong Kong and Singapore.
  • Middle East: Attractive packages, often including bonuses, with senior roles reaching $150,000–$250,000.

By Experience

  • Entry-Level: Analysts typically earn $70,000–$100,000 annually.
  • Mid-Level: Roles like portfolio managers earn $120,000–$250,000.
  • Senior-Level: Executives, such as CIOs, often exceed $300,000 with bonuses.

what you earn

You will get a certificate of completion, which is highly reputed and accepted by employers.

Global Credibility

Earn a globally recognized credential that enhances your professional reputation and career opportunities.

In-depth Knowledge

Gain advanced knowledge in investment analysis, portfolio management, and financial markets.

Career Advancement

Access high-level positions in finance and investment management with the CFA designation.

Ethical Standards

Adhere to the CFA Institute’s Code of Ethics and Standards of Professional Conduct, ensuring professionalism and integrity.

Professional Network

Join a global network of investment professionals and access exclusive resources and events.

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FAQ: CFA – Chartered Financial Analyst (Level 1, Level 2 and Level 3)

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