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Exam & Curriculum


  • Ethical and Professional Standards
  • Investment Tools
  • Asset Valuation
  • Portfolio Management 

As you progress through the CFA Levels, the emphasis and focus of each topic changes. Every level places an emphasis on ethical and professional standards.

The Examination

  • To attain a CFA Charter status, you must pass Level l, ll and lll sequentially.
  • Each examination consist of two segment in the morning and afternoon (3 hours each) with 2 hours break in between.
  • Level I exams are offered in December and June (typically on the first Saturday).
  • Level II and III exams are offered in June only (typically on the first Saturday).

Examination Format

Level l – Multiple Choice Questions
Examination is by multiple choice questions and places a premium on the ability to recall facts and apply basic concepts and formulas.

Level ll - Item Sets Questions

Examination comprises items sets (or mini case), which draw upon concepts and facts studied at both Level ll and l but involves”real world” problems requiring more analysis, calculation and evaluation.

Level lll – Item Sets Questions and Essay Questions
Examination requires students to draw upon concepts learned at Level l and Level ll to prepare, support and recommend practical financial solutions.

Examination Registration

Registration usually opens about 11 months before each exam; register early to take advantage of the fee schedule and to have enough time to study and prepare for the exam.

All candidates are responsible to register with CFA Institute directly to be eligible for the CFA Examination and candidates should note that LSBF in Singapore is not responsible for individual’s exam registration and enrollment.

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