CFA CFA Level 1 CFA level 1 eligibilty

CFA level 1 eligibilty

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    • Abhinav
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      Hi everyone….My course at IIT is 5 year MSc. Integrated in Economics. So basically I will be a postgrad after 5 years. I plan to give level 1 this dec. , when I would have passed my 4th year (1st semester). According to CFAI only final year undergrads can appear for level 1. My college has no such certificate after 3-4 years which classify you as undergraduate initially, It directly gives this postgraduate degree at the end of 5 years. So am I eligible?
      If not … Does CFAI asks for a confirmation about you being in your final year? I mean can people who are not in their final year apply ? I have seniors from my college who gave this exam in june after 4th year(2nd sem). I really want to give this exam in dec itself… please help

    • Sophie Macon
      Keymaster
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      Hi @Abhinav, I believe we spoke about this before.

      Assuming your MSc. is a 1 year course, now you’re in your final year Bachelor degree, so it’s fine. I don’t think there is a need to submit certificates per se, I don’t remember having to send mine a few years ago!

    • Zee Tan
      Keymaster
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      Hi @abhinav

      You would have “4 years college experience” which qualifies, so no worries.

      Link here: http://www.cfainstitute.org/programs/cfaprogram/register/Pages/index.aspx

    • Abhinav
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      hi @zee
      I would be in my 4th year (1st semester) , so it’s not equivalent to passing 4 years at college 🙁

      Hi @sophie
      Ya, we spoke about this earlier, but then I talked to some of my seniors, they were not very sure about this, so I am still in doubt. The doubt is whether any sort of certi or paper is required for level 1. For level 2, you definitely require your degree certificate. In case, its not required for level 1 , so how does CFAI ascertains that the candidate is eligible for the exam (just by the information you provide them ???)

    • Sophie Macon
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      @Abhinav, why not you try the registration process and see what information is requested? until the stage of making payments of course.

      The definition says final year of Bachelor’s degree. As long as that is true (regardless at the beginning of a final year or at the end of a final year), I don’t think when exactly you are in your final year matters.

    • Zee Tan
      Keymaster
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      @Abhinav when will you graduate exactly (date)?

    • Abhinav
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      @sophie
      ok, I will start the registration process, if I am not eligible, would they automatically cancel my form? or send me any mail ? I believe once I have done the payments then I would surely be able to give the exam…and there wouldn’t cancel my form…
      Sorry for asking so many questions … but I am very anxious


      @zee
      I would get my Msc Int. in Economics degree in May 2015

    • Zee Tan
      Keymaster
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      @Abhinav Here are my thoughts.

      I think you should be able to register for the Level I exam without problems. However, you will not be able to register for the Level II exams until you have received your results and/or degree certificate. Hence the way I see it you may not be eligible for Level II even in 2015 – as registration for June 2015 would be by March 2015, at which point you would actually still not have graduated.

      So while you could probably take December 2013, it may not make sense at this time given that you’d probably have to wait until 2016 to take your Level II.

      Personally, I’d say that even if you could take the Level II exams in 2014, and Level III in 2015, you’d still need to wait an additional 4 years to get the charter (work experience). So I think in your case there is no rush to take Level I anyways!

    • Sophie Macon
      Keymaster
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      @Abhinav, no worries, it is an important question. What @zee said made sense too, it’s great that you’re ambitious and want to start early, but given the restrictions it may be better to wait for a year more (enjoy!) and taking it the following year.

    • Abhinav
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      @zee @sophie Thanks for your suggestions… but here are my reasons to give this exam at this stage…
      1. Presently, I have no motive to qualify all the 3 levels. Its just that, I am interested in finance and want to augment my basic knowledge through this exam
      2. Clearing CFA level 1 shows the recruiters at the time of campus placements that you have interest in finance and you are hard working since you qualified level 1 along with your other courses at college , So your chances of getting placed increases manifold
      3. I wish to do an MBA after college, after that if I feel the need to clear CFA , will I give level 2
      4. I seriously have no work for the next 3 months, I need something to study. Level 1 , would be a good way to utilize my time

    • Zee Tan
      Keymaster
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      @abhinav if that’s the case, then by all means sign up for Dec Level I. 🙂

    • Sophie Macon
      Keymaster
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      Yup @abhinav. Then go for Dec Level 1 then!

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