The Level II exam is a computer-based test with two exam windows in each year. In 2021, these are May and August. The duration of the exam is approximately 4.5 hours, with up to 90 questions in item set format. The exam is split across two sessions and covers all ten topics.
There are test centres in more than 170 cities around the world: for further information see the CFA Institute website for details.
Level II builds on the foundations you have learnt at the previous level.
The focus now lies on asset valuation, as well as a deeper analysis of information you are provided with.
The topic areas remain the same as at Level I:
- Ethical And Professional Standards
- Quantitative Methods
- Financial Reporting & Analysis
- Corporate Finance
- Equity Investments
- Fixed Income
- Alternative Investments
- Portfolio Management
The benefits to continuing your progression through the CFA Program are potentially enormous. These include:
- Gaining a deeper understanding of finance
- Providing you with advanced financial analysis skills
- Boosting your career prospects
- Highlighting your commitment to high ethical standards
- Being part of a globally recognised community of investment professionals
- Providing networking opportunities through your local CFA society.
In order to enrol for Level II you need to:
- have passed Level I
- hold a bachelor degree (or equivalent) if you were still in your final year when sitting Level I
- be in possession of a valid international passport
- sign the statement of professional conduct and pay exam fees to CFA Institute