FREQUENTLY ASKED

QUESTIONS (FAQ)
On the CFA Program
FREQUENTLY ASKED QUESTIONS (FAQ)

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 In Bangladesh the top employers are
Charterholders are
1. JP Morgan Chase 1. IDLC Finance (including its subsidiaries)
2. UBS 2. Brac Bank (including its subsidiaries)
3. BOA Merill Lynch 3. HSBC
4. RBC 4. Standard Chartered
5. HSBC 5. EDGE AMC
6. Wells Fargo 6. City Bank (including its subsidiaries)
7. Citigroup 7. Bangladesh Bank
8. Morgan Stanley
9. PWC
10. E&Y

Where do CFA Charterholders work?

Top Five Global Charterholders Job Title Top Five Global Charterholders Practice
types
1. Portfolio Manager 1. Equities
2. Research Analyst 2. Fixed Income
3. Chief Level Executive 3. Private Equity
4. Consultant 4. Derivatives
5. Risk Manager 5. Real Estate
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.
The program curriculum increases in complexity as you move through the three levels:
Level I: Focuses on a basic knowledge of the ten topic areas and simple analysis using investment
tools
Level II: Emphasizes the application of investment tools and 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?

A one-time program enrollment fee is required when you register for your first Level I CFA Program
exam. You must also pay the exam registration fee for appearance of exam. The exam registration
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*

CFA Society Bangladesh FREQUENTLY ASKED QUESTIONS (FAQ) 3

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 Ltd. that will make it easier for
candidates to pay for their exam by VISA prepaid card. Interest candidates are requested to contact
Midland Bank Gulshan, Dhanmondi, Banani or Dilkusha branch. Click the link to get branch locations
of Midland Bank Ltd.

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

Are there any scholarships?

Yes, scholarships are available.

ACCESS SCHOLARSHIPS AWARENESS SCHOLARSHIPS

Access scholarships provide needs-based
opportunities for those unable to afford the full price
of the CFA Program.
Award Waive the CFA Program enrollment fee
and reduce the exam registration fee
(includes access to the curriculum
eBook) to US$250.
Award Access scholarships are awarded each
Cycle December and can be applied to an
exam administered in the following year
(Level I, II, or III).
Timeline Application submission period:
March to September every calendar year
Society review process:
Late September to October every
calendar year
CFA Institute review process:
November
Award announcements by CFA
Institute: Early December
Link For more details check this link.
Role-based scholarships are for distinct segments of
the investment management industry, including
women, university faculty and students, regulatory
bodies, and media organizations. Specific eligibility
rules apply.
Award Waive the CFA Program enrollment fee
and reduce the exam registration fee
(includes access to the curriculum
eBook) to US$350.
Award Awareness scholarships are awarded as
Cycle they are received and processed in the
current year. Awards can be applied to
any CFA Program level (I, II, or III) and
either exam cycle (June or December).
Timeline Application deadlines for the June exam
is 1 February.
Application deadlines for the December
exam is 1 September.
Link 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

CFA Society Bangladesh FREQUENTLY ASKED QUESTIONS (FAQ) 4

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 to the curriculum once you have paid for the exam. If you choose to receive hard copies, CFA
Institute will send them to your address. Normally, CFA Institute send the books via international
courier using service of UPS.

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 Charterholders 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 are 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)

CFA Society Bangladesh FREQUENTLY ASKED QUESTIONS (FAQ) 5

 GETTING THE CHARTER
How to Earn the Charter?
To earn the CFA Charter, you must do the following:
a. Pass all three levels of the CFA Program
b. Have four years of professional work experience in the investment decision-making process
(accrued before, during, or after participation in the CFA Program).
c. Join CFA Institute as a regular member.

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

Suite 11(H), Police Plaza Concord
Plot- 2, Floor- 11, Road- 144
Gulshan-1, Dhaka-1212

Frequently Asked Questions, Version 2.0

CFA Society Bangladesh FREQUENTLY ASKED QUESTIONS (FAQ) 6