Dec 2020 CFA® Exam Info

Candidates are studying for the December 2020 exam at Levels I, II and III. The majority of December candidates are deferred from the postponed June exams. We have compiled essential information to help guide you through the process.

Comprehensive  CFA® Exam Information for the December 2020 CFA Exam

General Candidacy Requirements

Candidate Eligibility Requirements
To enter the CFA® Program, you must:
• Have a bachelor’s (or equivalent) degree
◦ or be in the final year of your bachelor’s degree program at the time of registration
◦ or have four years of qualified, professional work experience (does not have to be investment related)
◦ or have a combination of work and college experience that totals at least four years. Part-time positions do not qualify, and the four-year total must be accrued prior to enrollment
• Meet the professional conduct admission criteria (during the application process, you will be asked to sign statements of Professional Conduct and Candidate Responsibility)
• Be prepared to take the exams in English
• Have a valid international travel passport (required for enrollment and exam registration)

If you are coming from a non-financial background you should consider taking our exam support courses, the Essential Fnancial Maths and the Introduction to Accounting short courses.

Enrollment and Exam Fees
To enter into the CFA Program, candidates must pay a one-time registration fee.
Additionally, you must pay the required exam enrollment fees for each Level.
CFA Institute reference material and a partial mock exam are both included with candidate registration and enrollment.
CFA Program exam fee range: $620 – $1,610
The actual fee payable depends on your CFA Program exam level and date of registration.

Level I

CFA Exam Day EMEA. AMER & APAC: December 5, 2020
Standard registration deadline: August 19, 2020
Test Center Change Deadline: September 30, 2020

Exam Details
Format: multiple-choice
Questions:
240 equally weighted questions
Morning Session: 120 questions
Afternoon Session: 120 questions
3 answer choices per question
Time allocation: 1.5 minutes per question (optimal case scenario)

Topic Weights
• Ethical and Professional Standards: 15%
• Quantitative Methods: 10%
• Economics: 10%
• Financial Reporting Analysis: 15%
• Corporate FInance: 10%
• Equity Investments: 11%
• Fixed Income: 11%
• Derivatives: 6%
• Alternative Investments: 6%
• Portfolio Management and Wealth Planning: 6%

The CFA Level I Curriculum and the Quartic solution
Candidate focus is on the tools and concepts of investment valuation and portfolio management. Further emphasis is made on how these processes fit within the guidelines of the CFA Institute Code of Ethics and Standards of Professional Conduct.
CFA Level I candidates come from many backgrounds: these range from those trying to build their knowledge from the ground upwards, all the way to seasoned finance professionals who now wish to add the most sought-after designation to their names.
We cater to all CFA candidates. To those with less experience in the financial world we include introductory courses – an Introduction to Financial Mathematics and an Introduction to Accounting. To the more experienced, our Quartic Online portal allows you to skip over topics with which you are already familiar. All candidates receive regular questions to test their level of knowledge.

Our comprehensive Level I study prep solutions you can find here»

Level II

June 2020 Level II candidates had the option of registering for one of the next two exams: December 2020 or June 2021.
Candidates could re-register for their exam by following instructions of the CFA Institute.

CFA Exam days
EMEA and AMER – December 5, 2020
APAC – December 6, 2020
Test Center Change Deadline: September 30, 2020

Exam Details
Format: item sets – each containing a vignette (average length: 1.50 pages)
Questions:
21 item sets (also called “mini cases”)
Morning Session: 10 item sets
Afternoon Session: 11 item sets
18 item sets have 6 multiple-choice questions and 3 item sets have 4 multiple-choice questions
Exam is graded for 360 points, corresponding to the number of minutes on the exam

Topic Weights
• Ethical and Professional Standards: 10-15%
• Quantitative Methods: 5-10%
• Economics: 5-10%
• Financial Reporting Analysis: 10-15%
• Corporate FInance: 5-10%
• Equity Investments: 10-15%
• Fixed Income: 10-15%
• Derivatives: 5-10%
• Alternative Investments: 5-10%
• Portfolio Management and Wealth Planning: 10-15%

The CFA Level II Curriculum and the Quartic solution
CFA Level II candidates have already succeeded in their first exam. This next level is often considered the technically most challenging and requires a huge leap of understanding.
Although the sound of multiple regression, pension accounting, binomial models and derivative valuation may make your hair stand up, we at Quartic enjoy the challenge of helping candidates get to grips with these concepts. Our tutors provide the intuition for you to understand not only how the methods and calculations work, but why.

Our comprehensive Level II study prep solutions you can find here»

Level III

June 2020 Level III candidates had the option of registering for one of the next two exams: December 2020 or June 2021.
Candidates could re-register for their exam by following instructions of the CFA Institute.

CFA Exam days
EMEA and AMER – December 5, 2020
APAC – December 6, 2020
Test Center Change Deadline: September 30, 2020

Exam Details
Format: Essay, item sets, and multiple choice
Questions:
Morning Session: 8-12 essay questions
Afternoon Session: 8 item sets of 6 multiple-choice questions each, plus 3 item sets of 4 multiple-choice questions each
Exam is graded for 360 points, corresponding to the number of minutes on the exam

Topic Weights
• Ethical and Professional Standards: 10-15%
• Quantitative Methods: 0%
• Economics: 5-10%
• Financial Reporting Analysis: 0%
• Corporate FInance: 0%
• Equity Investments: 10-15%
• Fixed Income: 15-20%
• Derivatives: 5-10%
• Alternative Investments: 5-10%
• Portfolio Management and Wealth Planning: 35-40%

The CFA Level III Curriculum and the Quartic solution
CFA Level III candidates have overcome the first two hurdles and have gained the extensive analytical and valuation skills included in Levels I and II.
Finally it is time to focus on the clients, both individual and institutional. What are their specific investment objectives and constraints? What behavioural traits do they exhibit and how do these affect the portfolio design?
Level III is all about portfolios and wealth management. Certain topics drop from the curriculum now (we know you will be sorry to see the back of Quants and Financial Reporting) and most other topics are from a portfolio perspective.
At Quartic you will be taught and guided by a CFA charterholder: we understand that CFA Level III poses specific difficulties you may not have found at the previous levels. But we have been there, passed the exam, and now provide the inspiration you need to succeed.

Our comprehensive Level III study prep solutions you can find here»

You can register for the CFA Exam if you haven’t done it yet using this link»

COPYRIGHT ©2020 Quartic Training Limited. CFA Institute does not endorse or warrant the accuracy or quality of the products or services offered by Quartic Training Limited. CFA Institute, CFA®, Chartered Financial Analyst® and Investment FoundationsTM are trademarks owned by CFA Institute.