Question TypesMultiple Choice, Constructed Response (Essay) — Level III AM session
FormatLinear (computer-based)
Online ProctoringNot available
ID RequirementsOne valid, unexpired, original government-issued photo ID (passport strongly recommended internationally). ID must match the name on the CFA Institute registration exactly. Photocopies not accepted.
RenewalNot required -- CFA Charter is permanent. No renewal or continuing education required.
PrerequisitesBachelor's degree (or equivalent) OR be in the final year of a bachelor's degree program OR have 4,000 hours of professional work experience
Retake PolicyCandidates may register for the next available exam window after a failed attempt. CFA exams offered 2–4 times per year depending on level. No limit on total attempts.