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July 5th, 2016, 11:26 AM
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Join Date: Mar 2013
Re: CFA Exam Pattern

As you have asked about the CFA exam pattern, I am giving you information about it, check below for the details

The CFA Program includes a series of three exams; Levels I, II, and III.
The exams:
Are offered annually — at test centres around the world — on the first Saturday in June
The Level I exam is also offered in December
Must be passed sequentially
Are available in English only

Exam Structure and Timing

Structure:
The Level I exam consists of 240 multiple choice questions, split among two 3-hour sessions.
Candidates must attend both sessions.
Morning session (3 hours): 120 multiple choice questions
Afternoon session (3 hours): 120 multiple choice questions

The Level II exam has a total of 20 item set questions:
Morning session: 10 item set questions
Afternoon session: 10 item set questions
On the Level II exam, you will have a total of 120 items (20 vignettes with 6 items each) compared to 240 multiple choice items on the Level I exam.

The Level III exam consists of item set and constructed response (essay) questions:
Morning session: Constructed response (essay) questions (usually between 8 and 12 questions, each with several subparts) with a maximum of 180 points. (The point value for each question is provided in the exam book.)
Afternoon session: 10 item set questions


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