Exploring the CFA Exam Structure and How It Is Divided

Are you looking to elevate your career in finance and join the ranks of elite professionals? The Chartered Financial Analyst® (CFA®) designation is the gold standard in the industry, opening doors to lucrative opportunities and demonstrating your expertise in investment management. However, becoming a CFA charterholder requires rigorous preparation and a deep understanding of the exam structure.

To help you on your CFA journey, we're going to explore the intricacies of the CFA exam, offering valuable insights into its structure and providing essential tips on navigating this challenging terrain confidently.

Preparing for the CFA exams requires dedication, discipline, and access to high-quality study materials.

What Is the Chartered Financial Analyst (CFA) Exam?

The Chartered Financial Analyst (CFA) exam is a globally recognized professional credential that the CFA Institute offers to investment and financial professionals. The exam tests the competence and integrity of financial analysts in the following areas:

• Ethics and Professional Standards
• Quantitative Methods
• Economics
• Financial Statements Analysis
• Corporate Issuers
• Portfolio Management
• Fixed Income
• Derivatives
• Alternative Investments
• Equity Investments

Understanding the CFA Exam Structure

All CFA candidates go through three levels, each one building on the knowledge and skills tested in the previous one. Passing all three levels and meeting other professional requirements of the CFA Institute awards the individual the CFA charter, a symbol of excellence and credibility in the financial profession. Let’s explore the structure of each level in detail.

Level I: Foundation of Knowledge

The Level I exam serves as the foundation of the CFA program, testing candidates’ understanding of basic concepts across finance and wealth management. The exam is divided into two sessions with 90 multiple-choice questions. Each section lasts 2 hours and 15 minutes, with an optional break in between. Results are typically available within 5–7 weeks of examination and Practical Skills Module completion. With a focus on comprehension and application, Level I assesses candidates’ ability to analyze and interpret financial information quickly and accurately.

Level II: Deepening Your Understanding

Building upon the fundamentals established in Level I, the Level II exam goes deeper into complex topics and requires a more comprehensive understanding of asset appraisal and investment techniques. The exam comprises 22 item sets of vignettes and 88 multiple-choice questions. The Level II exam consists of two sessions, each 2 hours and 12 minutes, with an optional break in between. Success at this level demonstrates proficiency in applying analytical skills to investment decision-making processes.

Level III: Mastering Portfolio Management and Planning

The Level III exam focuses primarily on portfolio management and wealth planning, integrating concepts from the preceding levels into a holistic framework for managing client assets effectively.

Unlike Levels I and II, Level III combines vignette-supported essay sets and multiple-choice questions. However, starting in 2025, the exam will expand to include two new specialized pathways, Private Wealth and Private Markets, alongside the existing traditional Portfolio Management focus. This addition allows candidates to tailor their CFA journey more closely to their individual career objectives and interests.

Ultimately, Level III signifies readiness to apply advanced investment management strategies in real-world settings. The Level III examination lasts 4 hours and 24 minutes, divided into two equal segments of 2 hours and 12 minutes each.

Our adaptive learning platform allows you to track your progress, identify areas for improvement, and adjust your study plan accordingly.

Why Choose Salt Solutions for CFA Exam Prep?

Preparing for the CFA exams requires dedication, discipline, and access to high-quality study materials. At Salt Solutions, we understand the challenges candidates face and are committed to providing comprehensive support throughout the exam preparation journey. Here’s why we’re your ultimate partner in achieving CFA success.

Expert Guidance and Resources

Our team of experienced instructors comprises CFA charterholders and industry professionals who possess in-depth knowledge of the exam curriculum. We offer a range of study materials designed to reinforce key concepts and familiarize candidates with the exam format. With our guidance, you’ll gain the confidence and skills to tackle even the most challenging exam questions effectively.

Personalized Study Plans

Salt Solutions recognizes that every candidate has unique strengths, weaknesses, and learning styles. We offer personalized study plans tailored to individual needs and preferences. Your customized study strategy maximizes your chances of success on exam day. Our adaptive learning platform allows you to track your progress, identify areas for improvement, and adjust your study plan accordingly.

Proven Track Record of Success

With our comprehensive study materials and expert guidance, Salt Solutions has helped countless candidates achieve their goal of becoming charterholders. Our pass rates consistently exceed the global average, reflecting the effectiveness of our exam preparation programs. When you choose Salt Solutions, you’re choosing a trusted partner with a proven track record of success in CFA exam prep.

Various Purchasing Options

We offer flexible and cost-effective purchasing options to fit every budget. Our all-inclusive packages include study materials, practice exams, personalized study plans, and access to our adaptive learning platform. Salt Solutions also offers individual resources for purchase, allowing candidates to tailor their preparation according to their specific needs. Our goal is to make high-quality exam preparation accessible to everyone.

We’re dedicated to helping you achieve your CFA aspirations and realize your full potential in the finance industry.

Earn Your CFA Charter With Salt Solutions

The CFA exams represent a significant milestone in the journey toward becoming a Chartered Financial Analyst, signaling your commitment to excellence in investment management. By understanding the structure of the exams and investing in quality study materials and support, you can position yourself for success on exam day.

At Salt Solutions, we’re dedicated to helping you achieve your CFA aspirations and realize your full potential in the finance industry. Get all the CFA exam study materials you need and prepare for the CFA exam with confidence, knowing that you have the support of a trusted partner every step of the way. Start your journey today and sign up now.