Chartered Financial Analyst Programme

Pen & Paper Mode

CFA Basic Information

  • Application Fee:₹ 32,119
  • Examination Modes:Pen & Paper Mode
  • Exam Conducting Body:CFA Institute (CFAI)

CFA 2021: Level 1 Exam date announced(23 Feb-01 March)

Updated On - April 13 2021 by Anusha Pachauri

CFA has announced that the February 2021 level 1 reschedule deadline was 17 January 2021. From the year 2021 CFA will be held in online mode. Chartered Financial Analyst Programme entrance exam for the CFA program is conducted twice a year at the universal level. The CFA program is a self-study program divided into three levels (Level I, II, and III). The CFA institutes reschedule the Level 1 exam to December 2020 and February 2021. On qualifying, this exam candidate will step towards becoming a CFA charter holder. CFA exam 2020 will be conducted in the English language only. The candidates can go through the full article below to know more about the CFA Exam 2021 Details like Date, Application Form, Eligibility Criteria, etc.

Latest Updates for CFA 2020

  • CFA June 2021 Level ll-lll Standard Registration Deadline was 17 February 2021.
  • CFA Level-1 rescheduling deadline are 17 January 2021.
  • CFA exam date for the Asia Pacific (Level I) was 23 February-1 March 2021.
  • CFA 2021 Online Registration has been started from 20 August 2020 for all 2021 exams.
  • The last paper-based examination administered by the CFA Institute will be the Level-I exam, to be held on December 5, 2020. After that, all examinations would be computer-based exams.

CFA 2021 Important Dates

Candidates can check all the CFA Important Dates 2021 given below:

CFA Important Dates
Events Dates 
Registration opens on20 Aug 2020
Standard registration fee deadline is20 Feb 2020
Last day to pay late fee14 December 2020
Religious alternate date requests are due16 Mar 2020
CFA exam date for Asia Pacific (Levels II and III); Americas and EMEA (all levels)December 2020
CFA exam date for Asia Pacific (Level I only)December 2020
Alternate exam date for Americas and EMEA, all levelsDecember 2020
Religious alternate exam dateDecember 2020
CFA  February 2021 Level 1
EventsFeb 2021 dates
Registration opens on16 Jun 2020
Scheduling Window Opens16 Jun 2020
Deadline for early registration fee13 Aug 2020
Standard registration fee deadline is03 Nov 2020
Scheduling Deadline22 Nov 2020
Rescheduling Deadline17 Jan 2021
Last day to pay late fee
CFA exam date for Asia Pacific (Level I only)23 Feb – 01 Mar 2021
CFA June 2021 Level II and Level III Exam Date
CFA® Level Exam 2020June 2021
Exam Registration Opens18 Aug 2020
Early Registration Deadline23 Sept 2020
Standard Registration Deadline17 Feb 2021
Final Registration Deadline17 Mar 2021
Exam Date05 Jun 2021

What are the changes to the format and frequency of the CFA 2021?

  • Along with Level I, the Level II and Level III CFA exams will shift from paper-based to computer-based. 
  • The Level I computer-based exam will be offered four times per year. The Level II and Level III computer-based exam will be offered two times per year.

What are my options if I was postponed from CFA June 2020 exam?

  • All candidates who have registered for what is now the final paper-based exam in December 2020 may stay with this option or switch to any of the available 2021 administrations by level.
  • Candidates who have registered for the June 2021 paper-based exam may revert to the December 2020 paper-based exam or select any of the available 2021 computer-based options.
  • If the dates were postponed from June 2020 and the exam the candidate subsequently registered for is postponed as well, then they will have the option to defer again or to request a refund for the registration fee paid for the June 2020 exam.

CFA 2021 Application Form

The CFA 2021 application form details can be checked on the official website of the conducting body. The candidates can also check the details about CFA registration below:

For February 2021 (level I)

 The last to submit the form & application fee (without late fee) is December 2020.

The steps to be followed to fill the form:

  • The applicants will have to register themselves on the official website "".
  • To register the candidates will have to give the details like name, email id, password, etc.
  • A link will be sent to the mailbox. Click on the link & verify the details.
  • After verification, log in with the registration details. The application form will be displayed.
  • Fill the form with the details required like personal details, academic details, etc.
  • Upload the scanned images of photographs, signature & mandatory documents.
  • The applicants will have to select the preferred city for the exam.
  • Submit the fee by using the Credit Card/Debit Card.
  • The applicants are advised to take the printouts of the filled form for future use.

CFA 2021 Application Fee

The CFA 2021 registration fee can be paid in the following ways on the official website.

  • Online mode: The aspirants can check the details below for the online fee payment.
    • By Credit/Debit card: American Express, Diner’s Club, Discover, JCB, MasterCard, UnionPay, or Visa
  • Offline mode: -Below mentioned details are for offline payment.
    • By Wire transfer, ACH (Automated Clearing Houscheck), money order, or postal order.
  • one-time program enrollment fee is required when a candidate will register for the first Level I CFA Program exam.  CFA 2021 enrollment fee is USD 700.

After enrolling, the candidates can apply for the application process. The registration fee for CFA December 2020 & June 2020 exams is mentioned below:

For June 2020 (Levels I, II & III)

The application fee details for CFA June 2020 for all the levels are given in the table.

CFA Registration Fee (Levels I, II & III)
Type of Application fee
Amount (USD)
Last Date (tentatively)
Early registration fee

USD 700

02 October 2020
Standard registration fee

USD 1,000

12 February 2020
Late registration fee

USD 1,450

11 March 2020
Note- The registration deadline ends at 11:59 pm ET.

check CFA 2021 dates here

CFA 2021 Eligibility Criteria

The candidates can check the CFA 2021 eligibility on the official website. Listed below are the CFA Level 1 eligibility criteria:

  • Academic eligibility criteria
    • The applicants must have a Bachelor's degree or equivalent program.


    • To apply in the level II exam the applicants must have completed the Bachelor's degree or equivalent.


    • Those who have four years of work experience and/or higher education are also eligible.
  • General eligibility criteria
    • The job experience related to investment is not the necessary CFA entrance.
    • The applicants must have a valid international travel passport to register and sit for the exam.
    • The candidates must complete a Professional Conduct Statement form to attest that they comply with this requirement.
Note - Before applying for the exam, the applicants must make sure that their Country is not excluded from the list.

CFA 2021 Admit Card

The admit card for CFA 2021 can be downloaded from the official website of the CFA Institute. The admit card/hall ticket details are listed below:
  • The applicants will have to visit the official site & click on " Login".
  • Login with the details like email id & password (generated during registration).
  • Now the candidates can download the admit card.
  • Take the printout of the hall ticket & keep it safe for future use.
  • The admit card/hall ticket/exam admission ticket will have the details like the Candidate's name, exam centre name, roll number, etc.
Note- The candidates must have an International Travel Passport along with the admit card in the exam hall for verification purposes.

CFA 2021 Exam Pattern

The CFA 2021 exam pattern can be checked on the official website. The exam pattern for each level is different. The applicants can check below for the details:

For Level I (February 2021)

The level I entrance exam is conducted twice in a year. The candidates can check the below table:

CFA Paper Pattern for Level I
Type of questionsMultiple Choice Questions (MCQ)
Number of questions240 questions
Marking scheme3 marks to each
SessionsTwo (Morning & Afternoon)

Session wise details of CFA 2021 exam are shown in the table. The candidates have to appear in both sessions. 

Number of QuestionsDuration of Exam

Morning Session

120 questions180 minutes (3 hours)
Afternoon Session120 questions

180 minutes (3 hours)

For Level II (May 2021)

The candidates can check the level II exam pattern on the official website of CFA institute. The Level II exam has a total of 21 item set questions.
CFA Question Pattern for Level II
Type of questionsMultiple Choice Questions
Number of questions120 questions 
Marking scheme3 marks each
Sessions Two sessions (Morning & Afternoon)

The candidates are advised to check the level II exam pattern for CFA entrance below in the table:

Number of QuestionsDuration of Exam

Morning Session

10 items set questions180 minutes (3 hours)
Afternoon Session11 item set questions

180 minutes (3 hours)

On the Level II exam, the candidates will have a total of 120 items (18 vignettes with 6 items each and 3 vignettes with 4 items each, for a total of 21 vignettes).

For Level III (May 2021)

The Level III exam consists of an item set and constructed response (essay) and item set questions. This level is conducted only in June. Session wise details are discussed below:

Number of QuestionsDuration of Exam

Morning Session

12 item set questions180 minutes (3 hours)
Afternoon Session11 item set questions

180 minutes (3 hours)

Level III (morning session) is 180 points.

CFA 2021 Syllabus

The applying candidates can check the syllabus for CFA 2021 on the website of the conducting body. The level-wise syllabus & exam weightage is listed below:

CFA Level I Syllabus (February 2021 and June 2021)

The topics are discussed below with the exam weightage:

TopicExam Weight
Ethical and Professional Standards15%
Financial Reporting and Analysis15%
Quantitative Methods10%
Corporate Finance10%
Equity Investments11%
Fixed Income11%
Alternative Investments6%
Portfolio Management6%

Before applying for the exam candidates are advised to go through the curriculum thoroughly.

CFA Level II Syllabus (June 2021)

The level II syllabus is discussed below in the table:

TopicExam Weight
Ethical and Professional Standards10-15%
Financial Reporting and Analysis10-15%
Quantitative Methods5-10%
Corporate Finance5-10%
Equity Valuation10-15%
Fixed Income10-15%
Alternative Investments5-10%
Portfolio Management5-15%

CFA Level III Syllabus ( June 2021)

The topics with their marks weightage are discussed below in the table:

TopicExam Weight
Ethical and Professional Standards10-15%
Equity Investments10-15%
Fixed Income15-20%
Alternative Investments5-10%
Portfolio Management35-40%

CFA 2021 Result

The result for the Chartered Financial Analyst Programme entrance (CFA) for each level will be declared in on the following dates:

  • The Level I & Level II exam results will be available within 60 days from the date of the exam.
  • The Level III exam result will be declared within 90 days from the exam date.
  • Applying candidates for the CFA Program exam will be provided with a "pass" or "did not pass" exam result & detailed information on their performance. 
  • If an applicant is not satisfied with the result, they may request for rechecking.
  • There is a minimum passing score for each level set by the CFA Institute Board of Governors. 
Note- Exam results are available online for approximately one year after the exam date. After this date, candidates may request an official letter confirming their "pass" or "did not pass" exam result, but their topic area performance summary will no longer be available.

Candidates are required to select CFA exam centres location while registering for the exam. Candidates can also request a change in CFA exam centre after completion of the registration process. The exam centres are allotted to candidates as per their preferences and availability of seats. The details of the exam centre are mentioned on the CFA admit card.

CFA Exam Centres

Chartered Financial Analyst Exam will held at following exam centre which varies according to the session of the exam:

For February Session
New DelhiMumbai
For May Session






New Delhi

CFA 2021 Highlights

The highlights for CFA 2021 Entrance Exam are as follows:

Examination Name
Chartered Financial Analyst Programme
CFA 2021
Conducted By
CFA Institute Board of Governors
Courses Offered
CFA charter holder
Examination Type
International level
Official Website
Exam Levels
Two levels- June (Levels I, II&III) & December (level I)

About CFA Institute Board of Governors

The CFA Institute was formed in the year 1947 by four financial analyst societies Boston, Chicago, New York, and Philadelphia for the purpose of promoting the exchange of ideas and supporting the welfare of their profession. CFA Institute is a global association of investment professionals. In 2004 its name changed to CFA Institute since then almost 2,00,000 CFA Charters have been awarded. CFA Institute has more than 164,000 members in 164 markets and 156 local member societies.


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CFA Important Dates

Form Date20 Aug - 20 Jul 2021
Exam Date18 Jul - 26 Jul 2021

Chartered Financial Analyst Programme Exam Pattern

Paper 1
Exam Duration:


Total Marks:


Question Paper Type :

Multiple Choice Questions

Negative Marking:


Instructions:Level I is of First & Second session (2 hours 15 minutes), Level II and III are of approximately 4.5 hours.

Frequently Asked Questions


Form Start Date:

20 Aug 2020

Form End Date:

20 Jul 2021

The last date to submit the form was on 20 Jul 2021
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Examination Date (Online):

18 Jul - 26 Jul 2021

Application Fees:

₹ 32,119

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