The CFA (Chartered Financial Analyst) examination is taken in three levels Level-I, Level-II and Level-III. The complete process is completed in three steps. Step1 is to pass all the three levels of the CFA exam in succession. Step 2 is to acquire 48 months of "acceptable professional work experience". Fortunately, the CFA Institute's definition of acceptable experience is fairly broad, encompassing such areas as trading, economics and corporate finance. For work experience to qualify, at least 50% of the time must be directly involved in the investment decision-making process or producing a product that impacts that process. Step 3 is to join the CFA Institute, which includes completing a professional conduct statement and becoming an affiliate of a local chapter. This test is for Level-I of the CFA.
