CFA Institute Eligibility Norm for CFA Level 1
The CFA Institute is the parent body responsible for the definition, conduct and management of the CFA Program. As the global benchmark program for investment management, the CFA designation today is one of the most coveted and prized qualifications. To ensure that the program retains its aura, relevance and significance, the CFA Program has a very rigorous course structure and testing policy aligned to the industry. Accordingly, the CFA Institute has defined minimum eligibility guidelines for all aspiring CFA candidates. One of the following conditions must be necessarily met to enrol for CFA Level 1:
- The CFA Program aspirant must be a graduate i.e. completed Bachelor’s degree or equivalent from a college / university.
- The CFA Program aspirant must chose the exam window such that his or her graduation month is no later than 23 months of the CFA Level 1 exam month.
- The CFA Program aspirant must have a combination of 4,000 hours of professional work experience and/or higher education. The hours or combination thereof as required must have been clocked over a minimum of 3 sequential years. Further, there should be no overlap between education and professional work experience period.
Note on Professional Work Experience for CFA Level 1 eligibility:
- Need not be investment related
- Paid articleship / internship is valid experience
- Work experience with business or family business is valid if it is rendered in professional capacity and is paid.
- Requires specialized knowledge, education, or advanced skills and application of higher-level judgement and business skills.
The cornerstone of the CFA Program is ethics and professional conduct. Accordingly, all submissions made to the CFA Institute, it is understood are true and fair. It is advised that candidates who are not graduates and cite eligibility based on their work experience, must fairly evaluate their experience and measure whether the same equips them to take on the complexity of the CFA Program.