Frequently Asked Questions (FAQ)

CFA Society Nigeria is one of the member societies of CFA Institute, a global community of investment professionals working to build an investment management industry where investors’ interests come first, financial markets function at their best, and economies grow.

We are driven by the belief that lasting economic growth depends on trust, competence, and transparency in financial markets, and we know that it must be led by professionals who are ethically centered and professionally trained. We are here to lead, support, and connect all who want to create a better investment industry in Nigeria.

Become a CFA Charterholder in four steps:

• Pass the 3 levels of the CFA Program exams
• Achieve Qualified Work Experience
• Submit Reference Letters
• Apply to Become a Charterholder

Find a detailed breakdown here

In order to enroll you must meet all of the qualifications listed below:

• Complete a bachelor’s program or equivalent program and have received a degree from the university OR be a final-year student of a bachelor’s program or equivalent program OR have a combination of four years (or 48 months) of full-time work experience.
• Own a valid international travel passport
• Be prepared to take the exams in English
• Complete a Professional Conduct Statement form to attest that you are in compliance with these requirements.

See detailed information here.

The exam dates are subject to change as conditions warrant. Each exam is administered within an exam window, while the exam dates available to each candidate may vary based on appointment availability at the time of scheduling. For the latest information on upcoming exams, please visit our CFA Exam Updates page.

Join the society as a Regular member if you are CFA Charterholder; as an Affiliate member if you work in the investment industry; as a Charterpending member if you have completed the three levels of the exams; and as a Candidate member if you are currently registered for the CFA exams.

Click on the applicable membership category to see requirements and annual dues.

Registration costs vary depending on when you register for the exam. There is a one-time enrollment fee of $450 the first time you register for the Level I exam. This fee will not be applied to subsequent exams. All fees must be paid in US dollars.

Early Bird – $700USD

Standard Registration – $1000

Late Registration – $1450

We have four categories of scholarships:

• Access Scholarship: Open to people who may not be able to afford the program fees. Applicants must meet all CFA Program enrollment requirements. Exam registration is reduced to $250.
• Regulator Scholarship: Open to full-time, qualified employees of non-profit entities that supervise or regulate the operations, standards of practice, or business conduct of the investment management industry and have not yet registered for their next exam. Exam registration is reduced to $350.
• Media Scholarship: Open to full-time or contract employees of media organizations that communicate and distribute financial news, data, and education and have not yet registered for their next exam. Exam registration is reduced to $350.
• CFA Institute Women Scholarship: For women who are interested in earning the CFA charter, do not qualify for other CFA Institute scholarships, and have not yet registered for their next exam. Exam registration is reduced to $350.
• CFA Society Nigeria WIM Scholarship: For young women in Nigeria who cannot afford the fees.
• Professor Scholarship: For full-time college/university professors or administrators/department heads who teach a minimum number of credit hours at qualified institutions and have not yet registered for their next exam. Exam registration is reduced to $350.
• Student Scholarship: For students currently attending an affiliated university and have not yet registered for their next exam. Exam registration is reduced to $350.

Yes. You can write the exams in Lagos or Abuja. However, you must register in time as the centers get filled up easily given the growing number of candidates in Nigeria.

Upon registration, exams can only be deferred for unique circumstances such as a medical emergency. There is also an option to withdraw within three days of registration. Find more information here.

CFA Institute has a process where candidates can ask to provide a different ID.

In this situation, you may request exception to use another form of ID for admission into the exams center. Candidates must contact the Global Contact Center (GCC) no later than 30 days prior to your exam appointment date to request this special exception. Requests are considered on a case by case basis.

The alternative form of ID must have the following requirements:

– A government-issued, passport equivalent document that allows for unrestricted international travel (with the exception of your country of origin, if you are a refugee);

– An original document (no photocopies) either all data fields in English;

– Current (not expired); and

– Contain a recognizable photograph. 

Please note that submitting a request does not guarantee an exception will be made. For more information, click here.

• Ethical and Professional Standards
• Quantitative Methods
• Economics
• Financial Statement Analysis
• Corporate Issuers
• Equity Investments
• Fixed Income
• Derivatives
• Alternative Investments
• Portfolio Management and Wealth Planning

Explore the curriculum

It takes an average of 300 hours studying for level I exam as reported by a survey of June 2019 successful candidates.

The Certificate in Investment Performance Measurement (CIPM) Program leverages the expertise of CFA Institute, to deliver practice-based approaches and develop skills for effective investment performance evaluation and manager selection. A professional certificate is awarded after the two levels have been completed and passed.

There are no exemptions for the CFA exams. However, candidates who have passed the CFA level III exam are exempt from sitting only the Level II CIPM exam.