If you plan on taking a CFA exam soon, Varsity Tutors can help you prepare by getting you started with CFA tutoring. Working with a CFA tutor may be the right test preparation option for you if you enjoy getting direct feedback while studying. If you've ever looked up "CFA tutoring near me" online, then you may already understand how impactful working with a CFA tutor can be during the studying process. To learn more about how CFA tutors can help you prepare for your upcoming exam, read on. Or, if you already know you want to get started, you can easily reach out to an educational director at Varsity Tutors today to begin your CFA tutoring sessions.
Why Take A CFA Exam?
The Chartered Financial Analyst, or CFA, is a professional credential that is held by over 150,000 individuals across the world. Individuals who work in the investment industry seek out CFA certification because it signifies an advanced understanding of essential skills like portfolio management and investment analysis. If you earn this certification, then you may become a more attractive candidate for employment. Clients may also be more willing to work with you based on your advanced understanding of the industry. However, earning the CFA credential is difficult. You'll need to pass a series of three exams that assess your knowledge of a variety of investment industry topics.
Who Can Take a CFA Exam?
If you're considering a CFA exam, it's a good idea to make you're eligible for certification first. There are a few key requirements that you must satisfy before you're able to sit for this test. First, you'll need to have an international passport. You'll also need to be able to complete the CFA exam in English and live in a participating country. There are also some professional conduct admission criteria that you may want to research before registering to take your test.
The most challenging conditions to satisfy before registering for a CFA exam are the test's educational and professional requirements. There are a few different ways that you can fulfill this registration requirement. First, you can fulfill it by earning a bachelor's degree or by being in the final year of an undergraduate degree program in a relevant field. Another option for satisfying this requirement is to have four years of work experience in the investment industry. Finally, you can also meet the educational requirement through a combination of at least four years total of work experience and relevant education.
If you've met all of these eligibility requirements, then you can start the test registration process and sign up to work with a CFA tutor today. To make it a little easier, here is a list of all the steps you need to take to earn your CFA Credential:
- Enroll in a CFA Program
- Pass the CFA Level I exam in June or December
- Pass the Level II exam in June
- Pass the Level III exam in June
- Have four years of professional work experience in the investment decision-making process
- Candidates must become members of the CFA Institute to obtain their charter.
Breaking Down the CFA Exam Series
As touched on briefly above, the CFA is really a series of three exams that may take several years to complete. The first test asks those who take it to show a basic understanding of topics like equity investments, economics, quantitative methods, and financial analysis. You'll also be asked to demonstrate the ability to use analytical skills as they relate to investments. The test has 240 questions that are all multiple-choice.
If you pass the first CFA exam, then you'll be able to move on to the level two exam. This test will assess your understanding of topics like asset valuation as well as your ability to properly apply investments tools. The format of the second level exam differs slightly from the first in that you'll be asked to read a few case studies on this test and then answer a series of multiple-choice questions based on what you read.
Finally, after you've passed the first two CFA examination levels, you'll become eligible to complete the third. Once you reach this test level, you'll need to demonstrate a mastery of all of the content areas that you've been tested on in the previous two levels. Some of the questions that you'll encounter will ask you to apply the information you know about the skill of managing portfolios. In addition to multiple-choice questions, this part of the CFA exam series also has 8 to 12 essay questions that you'll be asked to respond to.
Below, you'll see each of the content areas that the CFA examination series covers:
- Ethical and Professional Standards
- Quantitative Methods
- Economics
- Financial Reporting and Analysis
- Corporate Finance
- Equity Investments
- Fixed Income
- Derivatives
- Alternative Investments
- Portfolio Management and Wealth Planning
Clearly, there are a wide variety of topics that you'll need to have a strong understanding of in order to pass each CFA test level. Working with a CFA tutor could give you the guidance you need to make academic gains with the topics that you still need to learn more about. Instead of looking up "CFA tutoring near me" online, you can easily get started with your own CFA tutoring plan by contacting Varsity Tutors today.
Below, you'll get a closer look at the format of each CFA exam:
CFA Level I, II, and III Exam Overview
- Level I Exam
- 6 hour exam
- 240 multiple-choice questions
- Two sessions
- 3 hours per session
- 120 multiple-choice questions per session
- 3 hours per session
- Level II Exam
- 21 item sets
- A vignette (or case statement) and either four or six multiple choice items (questions)
- 120 total questions
- 2 sessions
- Morning session
- 10 item set questions
- Afternoon session
- 11 item set questions
- Morning session
- 21 item sets
- Level III Exam
- Two sessions
- Morning session
- Constructed response
- 8-12 questions
- Constructed response
- Afternoon session
- 11 item sets
- 8 vignettes with 6 questions each
- 3 vignettes with 4 items each
- 11 item sets
- Morning session
- Two sessions
How can CFA Tutors Near Me Help Me Prepare For the Exam?
Once you've determined that you're eligible to take the CFA, then you'll probably start thinking about how you'll prepare for your upcoming exam. CFA tutoring could be the perfect addition to your test preparation process. Working with a CFA tutor is a unique test preparation opportunity that can be personalized to meet your specific needs.
When you sign up to work with a CFA tutor, you'll start learning from an expert on the material you need to know before taking your upcoming test. Your CFA tutoring sessions can focus on the specific test topics that you still need to learn more about while excluding the information that you already know. A CFA tutor can save you valuable time during your study sessions that can be used to refine the information that you do need help with.
Your CFA tutor will work with you in a one-on-one setting and can set you up with a customized study plan based on your test goals, academic needs, and learning style. You can work through each of your CFA tutoring sessions at your own speed, stopping to get additional guidance whenever you need it. The level of personalization that your CFA tutor can provide you with could help you improve the overall quality of your study plan.
CFA tutors are also flexible, and Varsity Tutors makes every effort to connect you with CFA tutors who are able to meet with you at times that fit your schedule. That means you can quickly sign up to work with a CFA tutor without having to make too many scheduling sacrifices. This flexibility is one of the notable reasons why CFA tutoring may be the right fit for your test preparation needs.
When you sign up to work with a CFA tutor found for you by Varsity Tutors, you can get help building your general test-taking skills. For instance, your instructor can help you build your time management skills by showing you strategies you can use on the exam and during your test preparation process to work more efficiently. Your CFA mentor can also spend time with you showing you how to overcome test anxiety if that's something that you've dealt with in the past. If you think you would benefit from working with a tutor, contact Varsity Tutors today instead of continuing to search online for "CFA tutors near me."
Facts About the CFA
In the table below, you'll see the pass rates for each CFA exam level over a recent five year period:
| Year | Level I June | Level I December | Level II | Level III |
| 2014 | 42% | 44% | 46% | 54% |
| 2015 | 42% | 43% | 46% | 53% |
| 2016 | 43% | 43% | 46% | 54% |
| 2017 | 43% | 43% | 47% | 54% |
| 2018 | 43% | 45% | 45% | 56% |
The data above shows just how challenging it can be to pass a CFA exam. In fact, most people who ultimately pass all three exams generally do it over the course of a 3 - 4 year period. Since the first two exam levels have pass rates of under 50%, you'll need to have a test preparation plan that is better than most. A strong study plan could give you the edge you need to defy the odds when the day of your CFA test arrives. Working with a private tutor could be the test preparation supplement that helps you feel more confident taking your CFA exam.
How Do I Get Started With a CFA Tutor Near Me?
Earning a CFA Credential could help your career in a variety of ways. However, the exam series is extremely difficult to pass. Although you can study for your test alone, you may not be able to get as much out of your study sessions as would be possible when working with a CFA tutor.
Do you think you would benefit from working with a test preparation tutor? If so, then you don't need to search online to find a "CFA tutor near me." Instead, you can quickly get started with an academic mentor ready to build an ideal study plan.
Get in touch with an educational director at Varsity Tutors today. You'll be able to quickly start learning from an expert on the CFA at times that fit within the confines of your existing schedule. Contact us today if you're ready to begin. We look forward to working with you and hope to hear from you soon.