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Many professionals and aspiring professionals in the area and other related industries are now looking into expanding their knowledge due to the increased competition in the accounting and financial industry in terms of employment opportunities today. Acquiring additional information and appropriate credentials in the area is one of the finest approaches to win competitions in the modern world. Given that the CFA certification is now regarded as one of the highest in the industry, more individuals are starting to sign up for it.
The CFA Institute of the United States of America administers the CFA Exam, often known as the Chartered Financial Analyst Exam. It contains a series of three tests and is available to financial analysts. This article examines the first level of this certification in further detail, including the costs associated with taking the exam.
What is the cost of CFA Level 1 in Nigeria?
One of the most difficult credentials in the financial industry right now is the CFA. While the significance of the certification for current and future financial industry workers has been highlighted, the certification’s real price has received far more attention.
There are three levels to the test, and each level has a separate fee. This article concentrates on the first level, CFA Level 1, and the fees needed to sign up and take the test. We will break down the charges in great detail to make it more understandable. Below is a breakdown of the data.
The first charge you must pay when signing up for CFA is the cost of registration. Before you can even finish your registration and take the first level of the exam, you must pay the price, which must be paid only once. The cost is levied in dollars, just like any other fees you would be required to pay. Currently, the $450 enrollment fee is due upon registering for the Level I test. When enrolling in Levels 2 and 3, you shouldn’t forget that the enrollment cost is waived.
Cost of the examination fees
For all levels, the CFA test and registration fees are the same. However, it should be understood that the cost varies depending on when you first decide to take the test. Candidates who applied roughly nine months prior to the exam date often receive a discount. They are permitted to pay $650, whereas those who submit their applications after the early-bird deadline will pay the usual fee of $950, or almost $300 more than what the early birds spend. Finally, the late registration fee is typically the most costly. The fee for late registration is $1,380, which is much more than the usual cost.
- CFA early registration fee: $650
- Regular application: $950
- Late registration: $1,380
CFA Level 1 Admissions Requirements
Not all applicants are eligible to register for the CFA level 1 test, unlike the majority of other professional exams in the financial industry. The following criteria must be met in order for applicants to sign up for the CFA level 1 test.
The applicant must be in their last year of their bachelor’s degree program at the time of enrollment or hold a bachelor’s degree (or an equivalent) from a respected institution. In contrast to ICAN, this implies that applicants are anticipated to be in their last year at least during the registration time because there is a good probability they will have earned their degree before the examination period.
If an applicant has at least four years of professional job experience, even if they partially fall short of the requirements listed above, they will be taken into consideration. Please be aware that the job experience need not be connected to investments.
Candidates that have a minimum of four years of combined professional job experience and college experience can also be taken into consideration. Having said that, enrollees should be aware that part-time employment and jobs do not count toward the required four years of experience. The required four years of experience must be accumulated prior to enrollment.
Last but not least, applicants who want to sit for the test are required to have a current passport good for travel abroad. Both the exam registration process and entry into the exam room will require this document.
A Pass/Fail status will be indicated instead of an overall score for the test, which is how candidates who have taken it will receive their score report. The top 10% of applicants who failed the exam are told of their performance, though. Each applicant is given a wide range between which their performance falls for each issue segment (such as ethics, corporate finance, derivative instruments, etc.): whether below 50%, between 50% and 70%, and above 70%. The top 70% of all applicants had been specified as the passing grade for the tests. The Board of Governors establishes the minimal passing score after each exam, and it should be emphasized that the grading procedure is not publicly disclosed.
Now that you know The Price of Level 1 CFA in Nigeria, we wish you good luck.