Frequently Asked Questions

1.How often are exam dates available for each Level?

In summary

  • In 2021 (only), Level 1 exams would be held 6x a year, whilst Level 2 and Level 3 exams are offered 3x a year in multi-day exam windows. The extra one-off exam slots in 2021 are to accommodate all the postponed candidates during the pandemic.
  • From 2022 onwards, it will revert to a regular schedule of 4x a year for Level 1, twice a year each for Level 2 and Level 3.

2.Which calculator can I use for the exams?

Only two calculator models are authorized for use during CFA® Program exams:

  • Texas Instruments BA II Plus (including BA II Plus Professional) – (including older versions)
  • Hewlett Packard 12C (including the HP 12C Platinum, 12C Platinum 25th anniversary edition, 12C 30th anniversary edition, and HP 12C Prestige)

Please refer to CFA Institute's calculator policy.

3.How many attempts at each CFA level exam is a candidate permitted?

CFA Institute allows an individual an unlimited amount of attempts at each examination. Although you can attempt the examination as many times as needed, bear in mind that this will be expensive. Fees paid in order to write the exams are non-refundable.

4.Do I have to complete all exams within a certain period of time to receive the CFA charter?

According to CFA Institute, a candidate can take as much time as necessary to complete all three levels of the CFA Program. Therefore, if you passed the June 2014 CFA Level I examination, you could take the CFA Level II examination in June 2018 and so forth.

5.If I already hold a professional certification am I eligible for any exemptions from CFA requirements?

No. To obtain a CFA designation, you must complete all levels of the CFA program regardless of whether you hold a professional certification or not. Additionally, you must complete at least four years of qualified work experience before being awarded the CFA charter.

6.Does CFA Institute offer scholarships?

CFA Institute offers scholarships for both CFA® Program and CIPM® Program candidates.
Scholarships are categorized as follows:

  • Access Scholarships: provide needs-based scholarship opportunities for those unable to afford the full price of the CFA® Program enrollment and registration fees.
  • Role-Based Scholarship: offered to key influencers in the media, academic, and financial communities, such as college/university faculty, college students affiliated with CFA Institute's University Affiliation Program schools, regulatory agencies, and media organization employees around the world.
    Specific Scholarships in this category include: women's, student, professor, regulator, Media, and Society leaders
    Role-Based Scholarships are also available for the CIPM® Program to students, professors, regulators, and Society leaders.

For more information, visit CFA Institute's website.

6.Does CFA Society Cyprus offer scholarships?

No, CFA Society Cyprus does not offer or administer any types of scholarships. Access Scholarships and Role-Based Scholarships are offered and administered by CFA Institute.