Mastering the CFA Exam
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Level I

The first exam in the CFA® series requires candidates to demonstrate a thorough comprehension on a broad range of topics within Fundamental Investment Tools and Concepts. Disciplined study is needed to master the volume of material and pass this multiple-choice question exam.

Level I Resources

To find out more about Level I Review Classes, attend one of our upcoming Level I Candidate Information Sessions.


Level II

The CFA Exam Level II requires more analytical thinking than Level I. The exam focuses on the application and analysis of investment tools and concepts through multiple choice questions and item sets (vignettes with 5 or 6 related multiple choice questions).

Level II Resources

To find out more about Level II Review Classes, attend one of our upcoming Level II Candidate Information Sessions.


Level III

This is the exam that brings it all together. At Level III, the emphasis is on the Synthesis & Evaluation. Each question is likely to involve evaluating information across a variety of sessions to develop the appropriate investment recommendation or decision. The exam consists of 8-12 Essay Questions and 10 item set questions. While this exam has fewer questions than Levels I or II, the essay questions are meant to prove your proficiency with the materials.

Level III Resources

To find out more about Level III Review Classes, attend one of our upcoming Level III Candidate Information Sessions.