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The Chartered Financial Analyst® (CFA®) Program is the professional qualification administered and awarded by the CFA Institute®, formerly the Association for Investment Management and Research (AIMR®), based in the United States.
The program is enjoying dramatic growth worldwide, which CFA Institute attributes to the relevance of the syllabus, the rigour of the examination and the high standards of professionalism that it demands. In short, it is becoming the accepted benchmark for technical excellence in the financial markets.
The CFA® Program takes a minimum of three years to complete. Candidates must pass three levels of examination sequentially. These examinations are based on a 'Body of Knowledge', increasing in depth at each level. Candidates face six hours of examination, a three hour morning session and a three hour afternoon session. Sittings for CFA® Level I take place twice a year (June and December 2004 in selected centres), CFA® Levels II and III exams are held in June of each year.