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REQUIREMENTS

Q: How do I know if CFA Program is right for me? 

A: You may take CFA Institute assessment to learn whether becoming a charterholder — and joining the ranks of elite investment professionals — is right for you here. 


Q: What are the enrolment requirements for CFA Program? 

A: Please refer to the enrolment requirements here.


Q: I will be a final-year student at the time of attempting the CFA exam. Is that acceptable? 

A: To qualify via the final-year student requirement, you need to be in your final year of a bachelor’s program or equivalent program at the time of enrolling in CFA Program. You cannot enrol and register for Level I if you have not begun your final year of studies. You must also complete your degree program prior to the date of registering for Level II. 


Q: Do I need to submit my college degree or marksheet at the time of registering for the exam? 

A: No. CFA Institute does not ask for degree or marksheet at the time of registration. However, CFA Institute may request proof of education (copy of diploma/degree, marksheet, any other relevant documents) to be submitted at any stage of your journey as a candidate or even after becoming a member to demonstrate entrance requirements were met. 



Q: How much work experience do I need to sit for the exam?  

A: This depends on your enrolment requirement selection. If you select to enroll in CFA Program through the Bachelor’s Degree or Final-Year Student requirement then no work experience is required to sit for the exam. However, if you select to enroll via the Professional Work Experience requirement, then a combination of 4,000 hours of work experience and/or higher education that was acquired over a minimum of three sequential years and achieved by the date of registering for the Level I exam is required. The dates of education and professional work experience cannot be overlapping. If you have a combination of work experience and higher education to achieve the minimum hours and years, assume that higher education takes 1,000 hours per year.


Q: How can I confirm that my work experience is considered professional work experience?  

A: Please see the reference below to evaluate if the work you perform can be described as professional work experience that has equipped you for the significant volume and depth of study demanded by CFA Program. Professional work experience requires specialized knowledge, education, advanced skills, and application of higher-level judgement and business skills, including: 

  • Leadership and teamwork 
  • Business communications 
  • Critical thinking and problem solving 
  • Time management 
  • Professional judgement 
  • Analytical skills 
  • Adaptability 

To also better understand if your prior job responsibilities meet the requirements, kindly refer here. 


Q: Do I need to submit proof of my work experience while registering through the Professional Work Experience path? 

A: No. CFA Institute does not ask for proof of work experience at the time of registration. However, CFA Institute may request proof (letter of employment, salary slips, any other relevant documents) to be submitted at any stage of your journey as a candidate or even after becoming a member in order to demonstrate entrance requirements were met. 


Q: In case of violations, what are the actions that are likely taken by CFA Institute?  

A: Failure to follow the guidelines by CFA Institute towards entrance requirements or registration requirements for CFA Program may result in cancellation of current exam registration, withholding of exam results, voiding of past exam results, and may lead to investigation and disciplinary action by the Professional Conduct Program of CFA Institute.



REGISTRATION

Q: How do I register for the Level 1 exam? 

A: You may enrol and register via CFA Institute website on CFA Exam - Enrol & Register. The enrolment involves the setting up of a CFA Institute account. 


Q: What are the required steps for a successful CFA exam registration and scheduling?

A: Registering for your CFA exam is now a two-step process:

  • Step 1: Enroll in the CFA exam through the CFA Institute website
  • Step 2: After you complete the registration process and your payment is processed, you will see the "schedule your exam" option in your CFA Program tile. This will take you to the Prometric scheduling tool where you will be presented with available testing centers with dates and times. You must complete this step by the scheduling deadline. If you do not receive a confirmed date and time, you are not yet successfully scheduled for an exam.

 

Q: Who will provide information and confirmation about my exam?

A: Prometric: Once you have chosen your exam date and test center location, Prometric will send you an appointment confirmation email, keep you apprised of any pertinent scheduling changes and tell you of location-specific situations. Use this link to confirm your appointment details. 

If you are concerned about a change or cancellation message you received from Prometric, please contact Prometric directly.  

CFA Institute: CFA Institute will provide you with a series of emails containing basic information about the exam, the resources we will make available to you, and how to use these resources. As the exam grows closer, CFA Institute will send reminders about mock exams, general exam policies, and other considerations.  

Contact CFA Institute directly if: 

  • You are having difficulty accessing your account or need to change your personal information
  • If you have not yet scheduled your exam and have general questions
  • If you are having trouble connecting to your study resources


Q: May I withdraw my registration for the exam? 

A: Yes you may, provided you meet the conditions indicated on the section here


Q: Do I need to enrol in CFA Program and pay my registration fees for the Level I CFA exam at the same time? 

A: Yes. The one-time CFA Program enrolment fee and the registration fee for the Level I CFA exam need to be paid together.


Q: I have passed the early registration fee deadline. Can I appeal for the early registration fee provided that I have valid reasons? 

A: No. CFA Institute do not accept any appeal on the registration fee. Every registration must follow the specific deadline stated in CFA Program website here


Q: What are the registration deadlines, fees and invoicing option? 

A: Registration deadlines will apply to all levels of candidates registering for the exam for the first time. Fees and deadlines will be published on the CFA Institute website here. There will be an enrolment fee before one can begin the CFA Program or register for the Level I exam for the first time. Invoicing is available for computer-based exams during early registration period only. 



EXAMS

Q: How many exams will I need to take to complete the program? 

A: You will need to pass all 3 levels of exam. Passing the exam for all three levels is a requirement to obtain the CFA charter. Please refer here for more details.


Q: How long do I have to complete the CFA Program? 

A: There is no specified time frame to complete the programme, and there is no limit to the number of times you can take an exam. 


Q: What subjects or topics are tested on the exam? 

A: The exam will cover the following topics across all levels with focus areas and weightage vary by exam level:

  • Ethical and Professional Standards
  • Quantitative Methods
  • Economics
  • Financial Reporting and Analysis
  • Corporate Finance
  • Equity Investments
  • Fixed Income
  • Derivative Investments
  • Alternative Investments
  • Portfolio Management and Wealth Management

Kindly refer to the curriculum and exams coverage in the CFA Institute website here


Q: Can I get exempted on some topics covered in the exam? 

A: No, CFA Institute do not offer any exemption for CFA Program exam.



STUDY TOOLS & RESOURCES

Q: Will I be getting the study materials upon registering? And will there be an additional cost? 

A: Yes, you will be getting the online study materials upon registering and it is included in the registration fee. Once you are a registered candidate, you gain access to a wealth of information to help you study for exams and excel in your career. CFA Institute offer educational materials to help candidates master program curriculum with resources like:

  • Online Learning Ecosystem
  • Personalized Study Plans
  • Flashcards
  • Practice Questions
  • Mock Exams
  • Candidates Discussion Board

Kindly refer here for more details on the study tools and exam support.


Q: Do you offer classes? 

A: CFA Program is designed as a self-study program. If you would like to opt for classes, you may seek extra study support from the following Prep Providers in Malaysia that the Society is working closely with which are:



EXAM RESULTS & PASS RATES

Q: How long will I be able to get the exam results?

A:  Results from computer-based (CBT) exams are expected to be available approximately 6 – 7 weeks after the close of an exam window. After all testing is completed and the exam window closes, CFA Institute begins conducting a thorough analysis of exam questions/candidate performance to identify the minimum passing score (MPS) that represents basic competence in the subject matter.

The Board of Governors will then convene to approve the MPS. Rigorous quality control processes and data quality review steps are completed to ensure results are presented accurately to all tested candidates. Candidates will receive periodic messages to keep them updated on the progress of exam results, and additional information will be published to this page as it becomes available.

 

Q: How will I be able to access my results?

A: You may access your results here. You will receive a result of "pass" or "fail" along with information on your topic level performance. (Candidates who pass Level III will not receive detailed results.) Candidates can use the CFA Institute exam performance guide to help them interpret their percentile rank. CFA Institute will notify you when your official exam results are available. After candidates receive their CFA exam results, they may register for the next exam. We encourage candidates who do not pass to use the exam result information to guide their studies and to re-take the exam at a later date. Candidates can take as much time as they need before registering for the next exam.

 

Q: What are the historical passing rates for the exams?

A: Please see the CFA exam historical pass rates (PDF) for the pass and did not pass percentages each year since 1963.



POLICIES

Q: Should I own an international travel passport to sit for the exam? 

A: CFA Institute requires that every CFA Program candidate have a valid international travel passport. Those without a passport on the date of the exam will not be able to register or sit for the exams. Kindly refer to the identification policy here


Q: Where can I view the policies (exam admission, calculator, eligibility, security, violations, refunds, deferrals)? 

A: You may refer the policies here.



REFUNDS

Q: If I am not able to sit for the exam, may I request a refund or transfer my registration to the next exam?

A: Kindly refer to the refund policy here

 

Q: How will I be informed if I am eligible for a refund? When can I apply for that?

A: A small number of candidates were impacted by exam cancellation in February. Candidates whose exams have been impacted twice will be eligible for another deferral or a refund. If you are eligible, you will receive additional information about the next steps. The window to apply for a refund will be 29 March – 12 April.

 

Q: I have heard it will take 120 days to process a refund. Why is that?

A: Due to the extraordinary nature of this situation, and in many cases, the length of time since a payment was originally received it may take UP TO 120 days from the close of the request window for your refund to be processed.



SCHOLARSHIPS

Q: Does CFA Institute offer scholarships?

A: Yes, please refer here for the full lists of scholarships. You may also use the CFA Institute Scholarship Assessment Tool to find the scholarship best suited for you here.

 

Q: Could you clarify what happens for the scholarships awarded in 2019 for the 2020 exam?

A: Scholarship awards have been extended to include all 2021 exams. You must register for an exam by the testing window's registration deadline.

 

Q: When will this year's Access Scholarship application open?

A: There is not a firm date, but we expect the application process to open mid-April. Announcement will be made on CFA Institute website and CFA Society Malaysia Social Media Platforms.