Chartered Financial Analyst is one the most prestigious and intensive finance courses widely chosen by students to enter into the field of financial markets and investments. This three year challenging finance course, trains a candidate on everything starting from financial planning, analysing, investment management to risk management. To master all these complex financial concepts, it requires dedication and a fixed study time. Earlier the eligibility criteria for CFA was third year undergraduate degree, however, now even students in their second year can apply for the CFA degree. This has led to a surge in applications for CFA in 2022. While the flexibility on the eligibility criteria has been widely appreciated, CFA still stands to stay one of the most toughest to clear course.
Read on to know more about the CFA course difficulty level.
Things To Know about CFA Difficulty Level
1. The CFA exam is no Cake-Walk
The CFA exam is one of the most challenging exams in the world. However, the key to clearing this particular exam is a lot of practice and conceptual clarity. You may have heard some rumours regarding the Chartered Financial Analyst course being a comparatively easier course because the level 1 exams are easier. But the truth is, CFA exams are difficult to crack right from the start.
These exams test your understanding of each concept and your ability to apply these concepts and solve real-world problems through them.
2. Developing a study plan will take you a long way
While practice is important when it comes to the CFA examination, making sure that your practice is going in the right direction is also equally important. Create a study plan which includes attending coaching lectures, practising through the end of the chapter questions, and taking breaks in between to freshen up your mind.
3. The CFA institute’s learning material is quite dry
Most students who have already enrolled for the Chartered Financial Analyst course will agree that the study material provided by CFA institute can be quite boring. That’s why you need a coaching institute like Zell Education that offers its own learning material curated by industry experts that understand the real-world challenges and have solutions to them. Moreover, Zell also delivers its lectures through case studies and relevant examples. This makes it easier for you to prepare for your CFA exams and ace all three levels.
4. CFA Passing Rates
If you are intrigued knowing about the difficulty level of each exam, here’s a glimpse into the latest passing rate for all exams.
| Date | Level | Passing rate |
| August 2022 | Level 1 | 37% |
| August 2022 | Level 2 | 40% |
| August 2022 | Level 3 | 48% |
Decoding the Hardest CFA level
As per our discussions with our inhouse team and other students, the CFA levels 2 and 3 are cited to be way harder than the CFA level 1. While it’s difficult to tell which is the most difficult CFA level out of levels 2 and 3, we believe that may vary from year to year.
The Chartered Financial Analyst level 1 and 2 exam papers are constructed in a multiple-choice format.If you are impulsive in answering these questions, there’s a possibility of making a mistake in choosing your answers correctly. The CFA level 3 on the other hand brings ‘essay’ type questions.
Things that make the CFA exam more difficult
Here are certain things you should avoid while appearing for the Chartered Financial Analyst exams.
- Taking long breaks in between your exams
- Not creating a study plan of a minimum of 300 hours
- Solely relying on heavy knowledge-based CFA study materials
- Not enrolling in a coaching institute that makes the dry study material interesting for you
- Focusing only on the easy subjects and not on difficult subjects like fixed income, derivatives and portfolio management
We hope that with this detailed explanation on CFA pass rates and overall difficulty level, you’ve gotten a fair idea on the how hard are CFA exams. However, with the right coaching, you’ll be able to ace the CFA papers within no time. To know more about each of the CFA course by Zell Education click on the WhatsApp icon at the side of this blog and get in touch with our experts directly.
FAQ
What is CFA passing percentage?
As per the latest examinations conducted in the August 2022 quarter, the CFA passing rates for CFA level 1 were 37%, CFA level 2 was 40% and CFA level 3 was 48%.
What is CFA Level 1 passing score?
The CFA level 1 passing score in the latest August 2022 quarter was 37%.
Is the CFA the hardest exam?
Yes, CFA is one of the toughest courses in the field of financial markets and investment management. It requires good coaching, dedicated study time and CFA approved notes.
Satyamedh Nandedkar, a seasoned finance professional, holds ACCA, CA, US CMA & CS credentials. With 10+ years of experience, he’s a master ACCA tutor, IFRS trainer, adept in global financial standards, and a trusted advisor in navigating complex financial landscapes.
