CFA - Level II Overview
Level Requirement:
- Pass Level I CFA exam and meet CFA Program enrollment requirements
Question Format:
- Vignette-supported multiple choice questions
The Level II exam is standardized with 11 item sets for each session, for a total of 22 on the exam. Twenty are scored, and two are questions we are trialing that will not be scored.
- Multiple-choice questions in each item set must be answered based on the information in the vignette
Structure and Duration:
- The CFA Level II exam consists of 22 item sets comprised of vignettes with 88 accompanying multiple-choice questions.
- The Level II exam will be 4 hours and 24 minutes, split into two equal sessions of 2 hours and 12 minutes, with an optional break in-between.
Exam Results Availability:
- Within 5-7 weeks of taking the exam and completion of your Practical Skill Module
10-Year Average Pass Rate: 45%
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