CFA SOCIETY BANGLADESH

FAQ on the CFA Exam

BASIC QUESTIONS

What are the benefits of completing the CFA Program?

The CFA Program equips you with the practical and fundamental knowledge you need for a wide variety
of career choices in the investment profession. CFA Charterholders find that through earning the CFA
Charter, they can unlock the potential to working within numerous investment specialties and markets
across the globe-regardless of their previous educational background. It also better equips them to change
specialties as their careers evolve.

Check out this link for more details.

I am confused between CFA, MBA and CA. What should I do?

Each of these 3 programs have different focus. CA/ACCA/ICMAB/CIMA focuses on the accounting
profession; MBA gives a broad-based knowledge of the business world and CFA focuses on finance (with
special emphasis towards investment management). You should pursue the one that you find the most
interesting as well as relevant to your career aspirations.

Who employs CFA Charterholders?

Globally the top employers of CFA Chartersholders are

1. JP Morgan Chase
2. UBS
3. BOA Merill Lynch
4. RBC
5. HSBC
6. Wells Fargo
7. Citigroup
8. Morgan Stanley
9. PWC
10. E&Y

In Bangladesh the top employers are

1. HSBC
2. IDLC Finance
3. BRAC Enterprises (Refers to BRAC Bank and subsidiaries)
4. Lankabangla Finance
5. Standard Chartered
Where do CFA Charterholders work?

Can you briefly explain how the 3 levels of the CFA Program look like?

The course of study is organized into three levels and each level requires passing a six-hour exam split into
two 3-hour-sessions. The program curriculum increases in complexity as you move up across the three
levels:
Level I: Focuses on a basic knowledge of the ten topic areas and simple analysis using investment tools
Level II: Emphasizes on the application of investment tools and mastery of concepts with a focus on the
valuation of all types of assets
Level III: Focuses on synthesizing all of the concepts and analytical methods in a variety of applications for
effective portfolio management and wealth planning

When is the exam conducted?

They are offered annually — at test centers around the world — on the first Saturday in June. The Level I
exam is also offered in December. Dhaka, Bangladesh is a test center for all three levels for both seasons
(i.e. December and June). CFA Institute has recently decided that exams will not be held in Ramadan.

What are the pass rates?

10 year (2007-2016) average pass rate across all three levels is 42%. Check out this link for more details
on the pass rate.

Are there any exemptions for CFA Candidates?

There are no exemptions. To obtain a CFA designation, you must complete all levels of the CFA program.

REGISTRATION AND PAYMENT

How can I register for the exam?

If you comply with the requirements, then you need to go to CFA Institute website. There you will find the
link to register for the exam. The first step is to fill in all necessary details. The last and final step is to make
the payment.

What is the cost of appearing for the exam?

The program enrollment fee is now US$450. This is a one-time payment. The fees for each of the 3 levels
are similar but there are discounts available if registration is done early.
For more details check the CFA Program Fees page.

How can I make the payment?

The CFA Institute accepts the following methods of payment:
a. Credit card: American Express, Diner’s Club, Discover, JCB, MasterCard, UnionPay, or Visa
b. Wire transfer, ACH, check, money order, or postal order*

In Bangladesh, the most common way of paying is by using a dual currency credit card. In addition, some
banks allow students to create virtual credit card with which they can make the payments.

CFA Institute has recently signed an MOU with Midland Bank that will make it easier for candidates to pay
for their exam. Interest candidates are requested to contact Midland Bank Gulshan branch.

* We do not recommend this method as other methods are more convenient.

Are there any scholarships?

Yes, scholarships are available. For more details check this link.

EXAM PREPARATION

Am I eligible to appear for the exam?

To fulfill the entrance requirements, you must at the time of enrollment:

a. Have a bachelor’s (or equivalent) degree or be in the final year of your bachelor's degree program. The
degree requirement is self-reporting. If you need assistance to determine whether or not your degree is
equivalent to a bachelor's degree or higher, we suggest that you contact your college or university to
make an inquiry. Candidates who are also students can take the Level I exam but can only register for
Level II after they provide confirmation on completion of bachelor degree

OR -

Have four years of qualified, professional work experience or a combination of work experience and
education that totals at least four years. Eligible professional experience for entrance to the program
instead of a degree does not have to be investment related, however; part-time positions do not qualify.
Candidates who submit a combination of work experience and education must meet this four-year
requirement in aggregate at the time of enrollment.

b. Meet the professional conduct admission criteria. During the application process, you will need to sign
statements of Professional Conduct and Candidate Responsibility.

c. Be prepared to take the exams in English.

d. Have a valid international travel passport. We will require this document for enrollment and exam
registration. To learn more about this new requirement, please visit this link:.

How will I get the books?

The curriculum books are included in the registration fees. If you opt for the soft copies, you can get access
once you have paid for the exam. If you choose to receive hard copies, CFA Institute will send them to
your address.

Should I use third party content?

The course curriculum provided by CFA Institute is more than sufficient to prepare for the exam. It is
recommended that students primarily use the curriculum for preparation. Students are free to decide if
they need any third-party content.

Do I need any tuition?

The CFA Program is designed to be a self-study program. The majority of charterholder’s complete the
program by studying by themselves. CFA Society Bangladesh organizes some candidate events from time
to time and to stay updated please follow the Facebook page.

Although there are third party tuition providers available in Bangladesh, none of them is endorsed by the
CFA Society Bangladesh or the CFA Institute at present.

How long should I study?

Candidates have reported that they study around 322 hours on average per level. However, it is
recommended to study more as candidates can have different backgrounds and knowledge of the subject
material.

Is there any Calculator policy?

Only two calculator models are authorized for use during CFA Program exams: Texas Instruments BA II
Plus (including BA II Plus Professional) Hewlett Packard 12C (including the HP 12C Platinum, 12C Platinum
25th anniversary edition, 12C 30th anniversary edition, and HP 12C Prestige)

CONTACT

How can I contact CFA Institute?

CFA Institute
915 East High Street
Charlottesville, VA 22902
USA

Telephone: 1-434-951-5499/ 852-8228-8820 (Note: this is not a toll-free number)

Facsimile: 1-434-951-5262
E-mail: info@cfainstitute.org

You can find additional international toll-free numbers here:.

How can I contact the local CFA Society?
We recommend you get in touch through our Facebook Page. Our address is given below.
CFA Society Bangladesh
41 Gulshan North, C/A, 4th floor,
Dhaka-1212