CFA Level II – Chartered Financial Analyst
The CFA Level II exam tests deep analytical skills with vignette-based multiple‑choice questions across ten finance domains.
- Exam fee
- $940–$1,250
- Duration
- Two 132‑minute sessions
- Typical salary
- $100K–$150K
CFA Level II is ideal for candidates who have cleared Level I and want to prove advanced valuation and portfolio skills. If you prefer a less vignette‑heavy format, another finance credential may suit you better.
What CFA Level II – Chartered Financial Analyst covers
CFA Level II focuses on asset valuation and applying investment tools. Widely recognized as the hardest CFA level due to vignette-based exam format.
Key topics covered: Equity Valuation, Fixed Income Analysis, Alternative Investments, Derivatives Valuation, Financial Reporting & Analysis, Portfolio Management & Wealth Planning.
Best suited for: Professionals who passed CFA Level I, targeting analyst or fund management roles.
Common career paths: Senior Investment Analyst, Equity Research Associate, Asset Manager.
CFA Level II – Chartered Financial Analyst exam details
Multiple-choice questions (22 item sets with 88 questions)
Exam domains
- Quantitative Methods (5–10%)
- Economics (5–10%)
- Financial Statement Analysis (10–15%)
- Corporate Finance (5–10%)
- Equities (10–15%)
- Fixed Income (10–15%)
- Derivatives and Risk Management (5–10%)
- Alternative Investments (5–10%)
- Portfolio Construction (10–15%)
- Ethical and Professional Standards (10–15%)
At a glance
- Exam fee
- $940–$1,250
- Duration
- Two 132‑minute sessions
How to prepare for CFA Level II – Chartered Financial Analyst
| Stage | What to do | Time |
|---|---|---|
| 1 | Familiarize with the official outline Read the CFA Institute topic weight table and skim each domain to understand scope and emphasis. | Week 1-2 |
| 2 | Deep dive into core domains Study each of the ten topics, focusing on higher‑weight areas such as Ethics, Equities, Fixed Income, Portfolio Construction, and Financial Statement Analysis. | Weeks 3-8 |
| 3 | Practice vignette questions Work through item sets that combine case vignettes with multiple‑choice questions to build analytical stamina. | Weeks 9-12 |
| 4 | Timed mock exams Take full‑length practice exams under the two‑session, 132‑minute format to gauge pacing and endurance. | Weeks 13-14 |
| 5 | Review and refine Identify weak spots from mocks, revisit those topics, and solidify exam strategies before the test day. | Week 15 |
Jobs and salary with CFA Level II – Chartered Financial Analyst
People holding this certification commonly report pay around $100K–$150K. Pay depends heavily on role, location and total experience. See the salary breakdown.
Roles this certification supports
CFA Level II – Chartered Financial Analyst questions answered
What is the CFA Level II – Chartered Financial Analyst certification?
The CFA Level II exam tests deep analytical skills with vignette-based multiple‑choice questions across ten finance domains. It is issued by CFA Institute and sits in the Finance & Accounting field.
Is CFA Level II – Chartered Financial Analyst hard?
CFA Level II – Chartered Financial Analyst is rated Intermediate. It assumes some foundational knowledge or entry-level experience.
How much does the CFA Level II – Chartered Financial Analyst exam cost?
The listed exam fee is $940–$1,250. Fees vary by country and change over time, so confirm the current price with CFA Institute before you book.
How long is the CFA Level II – Chartered Financial Analyst exam?
The exam runs for Two 132‑minute sessions.
What salary can I expect with CFA Level II – Chartered Financial Analyst?
Professionals with CFA Level II – Chartered Financial Analyst commonly report pay in the $100K–$150K range. Actual pay depends on role, location and total experience.
How should I prepare for CFA Level II – Chartered Financial Analyst?
Start with the official exam outline, build hands-on practice for each domain, then finish with timed practice questions. The study plan on this page breaks this into steps.
Alternatives to CFA Level II – Chartered Financial Analyst
| Certification | Vendor | Level |
|---|---|---|
| CFA Level I – Chartered Financial Analyst | CFA Institute | Beginner |
| CFA Level III – Chartered Financial Analyst | CFA Institute | Advanced |
| FRM – Financial Risk Manager | GARP | Advanced |
| CPA – Certified Public Accountant | AICPA / NASBA | Advanced |
| CMA – Certified Management Accountant | IMA | Intermediate |