I have not passed the Level 1 exam for CFA, can I go for Level 2?
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2 Answers
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You cannot do that without passing the CFA Level 1 exam. The CFA programme goes step by step. This is done to make sure that you have a good knowledge of the foundational concepts covered in Level 1 before moving on to Levels 2 and 3.
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No, you cannot apply for the CFA Level 2 exam before completing and passing the CFA Level 1 exam. The CFA Program has a strict sequential order. This progression ensures that candidates have a solid understanding of the foundational concepts covered in Level 1 before advancing to the more complex and specialised material in Levels 2 and 3.
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The following test locations for the CFA exam will be opened from November 2025 session:
- Addis Ababa, Ethiopia
- Rabat, Morocco
- Maputo, Mozambique
- Mbabane, Swaziland
- Gurgaon/Gurugram, Haryana, India
- Nashik, Maharashtra, India
- Manipal, Karnataka, India
The CFA exam is conducted at 400 locations globally. Candidates can follow the steps mentioned below to know how to choose the CFA test centre location according to their preference:
- Register for the CFA exam
- Schedule the exam appointment
- View the test centre options along with available seating
- Choose your preferred test centre location as per the planned CBT test centre locations
- Once the location is confirmed, keep checking daily for new appointments that could be added.
Candidates should note the appointments must be scheduled by the deadline (typically 60 days before the start of the exam window). If the candidate does not see available
The following PSM is availabel for the Level 2 CFA exam:
- Analyst Skills
- Python, Data Science and AI
- Python Programming Fundamentals
Candidates should complete their PSM in order to view their CFA result. Each PSM takes about 10-20 hours to complete. The level 1 CFA exam has the following PSMs:
- Financial Modelling
- Python Programming Fundamentals
Three pathways will be released in mid-August 2025 for the Level 3 PSM. These are:
- Practical Macro (Portfolio Management Pathway)
- Due Diligence (Private Markets Pathway)
- Managing Private Wealth Clients (Private Wealth Pathway)
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