How to Become a CFA^® Charterholder

If you’re wondering how to become a CFA charterholder, you’ve probably realized that it’s a great way to set yourself apart in the financial industry. Not only will your job prospects improve with the charter, but you’ll gain global recognition and real-world expertise that will help you better serve your clients for the rest of your career.

The path to becoming a CFA charterholder is challenging, but it can open new doors to you in global finance. Below are the four main steps you’ll need to follow to earn your charter.

Step 1: Pass the CFA Exam

To earn the CFA charter, you first have to pass the CFA exams. There are three exam levels (I, II, III) with unique topics and learning focuses. The topics include investment tools, asset valuation, and portfolio management. Each exam will test different learning focuses.

The CFA Level I exam focuses on knowledge and comprehension, while CFA Level II exam is more application and analysis-based. The CFA Level III exam focuses on synthesizing information and making evaluations. Make no mistake: these exams are challenging.

According to CFA Institute, candidates spend an average of 300 hours preparing for the exam for each level and will find it easier with CFA exam prep. It takes many candidates more than one attempt to pass each level. If you do not pass a level, you can take it again the following exam season.

Want to know more about how to become a CFA charterholder? Download this free Before You Decide to Sit for the CFA Exam eBook.

Step 2: Complete Education and Work Experience Requirements

There are a number of different ways to fulfill the education and work experience requirements to enroll in the CFA Program.

If you are new to the industry, you need to have a bachelor’s degree (or equivalent) or two years remaining in your undergraduate studies.

If you have been working in the industry, and you have 4,000 hours of relevant work experience or a combination of professional work and university experience that totals 4,000 hours, you are also eligible to start the CFA Program.

Step 3: Become a Member of CFA Institute

Before you receive your charter, you have to become a member of the CFA Institute. You can become a member while you are in the process of getting the charter or wait until the end. The application process has three phases, and it typically takes a few weeks to get approved.

To apply, you need to have passed at least Level I of the CFA exam or the self-administered Standards of Practice Examination, a bachelor’s degree or equivalent education/work experience, 4,000 hours of professional work experience in investment decision-making, and three professional references are also required.

You are also strongly encouraged to join a local CFA Society to network with your peers and take advantage of local continuing education opportunities.

Requirements to Become a CFA Charterholder

Step 4: Abide by the Code of Ethics

The Code of Ethics and Standards of Professional Conduct is the ethical benchmark for investment professionals around the world. As a CFA Program candidate or CFA Institute member, you are required to abide by the Code and Standards.

The Code maintains that you must place the interests of your clients and the integrity of the profession above your own interests and that you must act with respect and professional competence.

Ready To Start Preparing for the CFA Exam?

Looking for more guidance on how to prepare for Level I of the CFA exam? Enroll in one of our CFA Level I Premium study packages to receive expert instruction, CFA Program study materials, and more. Give yourself the best chance to prepare, practice, and perform on the CFA exam.