Prerequisites for CFA®: Are There Any?
Quick List of CFA Exam Prerequisites
There is a list of prerequisites for CFA candidates. To register for the Level 1 CFA exam, you must meet at least one of the following:
- Bachelor’s Degree (or equivalent)
- Final-Year Student (within 23 months of graduation)
- Qualified Work Experience (4,000 hours over at least 3 years)
Other essential requirements:
- A valid international passport
- Ability to take exams in English only
- Payment of the applicable registration fees
- Agreement to the Professional Conduct Statement
- Residency in an eligible country (some restrictions apply)
Everything You Need to Know Before You Register for CFA Exam
1. Education Path: Bachelor’s Degree
If you’ve earned a bachelor’s degree (or equivalent), you can register for the Level 1 CFA exam without delay. This path is ideal for candidates who have completed a traditional academic program.
2. Final-Year Student Option
If you’re currently enrolled in a bachelor’s program and are within 23 months of graduation, you also meet the eligibility requirements for CFA candidates. This allows ambitious students to get a head start as soon as they decide they want to enroll in the CFA Program. To continue with Level 2, you must have no more than 11 months left to graduation. So, both timing your graduation and planning your CFA exam prep are essential here.
3. Work Experience Route
Don’t have a degree? You can still qualify with 4,000 hours of professional work over at least three years. This includes full-time, part-time, or remote work that develops business judgment or leadership skills. So, things like financial analysis, data interpretation, or strategic planning count. Even internships or paid roles in a family business count among CFA work requirements, as long as the work is meaningful and documented.
4. Valid Passport Requirement
You must have a current international passport to register and take the exam. The information on the passport must exactly match your CFA Institute account details. Without it, CFA exam registration is impossible.
5. English-Only Exam Format
All CFA exams are administered in English. On the one hand, this ensures global consistency but, on the other hand, it requires strong proficiency in English for non-native speakers. Level 1 and Level 2 are tests but Level 3 exam has some essay questions. So, you’ll need to read both short-form and long-form questions, understand financial terminology, and write precise responses. Moreover, the CFA exam curriculum is written in English. So, being comfortable in English is essential if you're after your CFA designation.
6. Payment of Registration Fees
Paying the CFA exam registration fee for each exam taken is indispensable. Early registration saves money, while standard registration costs more. Planning ahead financially is a smart move, especially if you qualify for a CFA Program scholarship.
7. Professional Conduct Statement
Each CFA candidate must complete a Professional Conduct Statement as part of registration. This includes answering questions about past legal, regulatory, or professional violations. It's your first step in committing to the CFA Institute’s high ethical standards, which are a core part of the program.
8. Country Eligibility
Due to international laws, some residents (e.g., from North Korea, Cuba, or other sanctioned regions) may be prohibited from registering. That's because CFA Institute has extremely strict eligibility criteria.
Once you meet the requirements and complete your registration, you're officially on your way to becoming a CFA charterholder. Although the criteria are numerous and strict, they are a part of the value attributed to the CFA designation.
First, make sure you meet the eligibility criteria. Then, check the list of additional requirements and as soon as you're ready, start your prep and stay on track while you study (mind not to stray)!
PUBLISHED: June 24, 2025
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