When can an undergraduate student take his/her 1st CFA exam?


I am currently an 2nd year univerisity student at the undergraduate level and am very interested in taking the CFA exams.

I have heard from many sources that undergraduate students can take their first CFA lvl 1 whenever they like.

However the CFA institute site states that an undergraduate student must be in his/her final year of study before they are able to register for their first exam.

I am confused as professors at my university and the website offer contradicting information…

When can an undergraduate take his/her first exam?

Professors at your university are not administering the exam, the CFAI is, so I would go with what the CFAI website says.

As edupristine might say…

The CFA exams are normally given the first day in June. You can take the exam at several locations worldwide after you have paid for the exam and registration.

I hope It is clear….

[Edited by S2000magician]

In all seriousness though - CFAI says that you have to be in your final year of college. I don’t know if they ever verify it, or if they even ask to see any kind of documentation. So I suppose you could go all the way through the program without ever going to a single college class.

here are some absolutely brilliant insights from edupristine from another thread:

Edupristine even teaches students the course material of CPA in India.

if i remember correctly, cfai requires you to either a) have a undergrad degree or b) be in your fourth year of college or have an equivalent amount of time in combination of work & education. (there are folks getting their college degree in 2-3 years.)

if you’ve served in the army already, you most likely will have accumulated the required work experience/ education.

if not, you are currently attending a college where your professor is either lying to your face or is sell attempting to sell his services to students. in which case, i highly advise you to transfer to a better-respected university (an online degree would suffice) to cut your losses. though big ole mom & pop won’t be too happy, they’d certainly thank you for the college tuition. alternatively, you could join the army too.

tribeca_regent FYI I go the one of the most respected schools in South Korea.

I believe that my professors are telling the same thing Greenman72 just said.

Thank you

@jiho. sit yo ass down. snu/yonsei won’t be misadvising you as such.

my guess is you’re at HY, which there is a professor who has a partnership with a cfa educational institution. sure it’s respected but you’re in for the long haul pal. (granted i am speaking from hearsay based on a few select newbie analysts i have crossed paths with. i look forward to being corrected.)

but seriously. i hope you find the right information and do go through the program. wait if you need to, but you’ll gain a tremendous amount the financial world through the program. most of the time undergrad finance education is quite frankly full of crap. whether you go to the most prestigious schools, you’re not learning the real down and dirty stuff. the cfa program borders along undergrad/master level education.

feel free to pm me with questions @jiho. don’t bother if you’re doing this because a) your parents think it’s a good investment, b) your friends are doing it, and c) you think this will land you a job. i will be an even bigger douchebag if you are approaching this program for any of these reasons.

tribeca_regent The fact that undergrad finance education is full of crap is the main reason I’ve become interested in the CFA. I originally planned on taking level 1 during my senior year or after the army. All I wanted to know was if it was okay to take it earlier, like my professor at KU suggested. Anyway. Nobody has influenced my decision towards the CFA and I do not intend to depend on it to land a job. Thanks!

An undergraduate student can take the exam in his final year of study . There is no need to complete the graduation before you actually register for the exam. You can register in the final year of graduation and continue with your CFA.

^ Yes

Brilliant research skills on display here…

You can take CFAL1 exam in the final year of your UG.

Professors at your university are not administering the exam, the CFAI is, so I would go with what the CFAI website says…

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