CEFA COMMON EXAM
The CEFA Common Exams are organised in the participating NMS on the dates given by EFFAS. The examination is structured in three blocks covering the topic areas of the CEFA syllabus. The examination has a duration of minimum 3 hours to maximum 4 hours per block. Each exam block is structured in two parts: Multiple Choice Questions (MCQ) (15/20 questions per topic) and Open Questions (OQ) (1 or 2 per topic). The minimum requirement to pass the exam is to obtain more than 50% of the total possible points, with a minimum of 20% in each part (MCQ and OQ).
The complete details are described in the table below:
| CEFA Common Exam | |||||
| Exam | Content / Topics | 2018 | 2019 | ||
| Exam 1 | Equity valuation and analysis. | 12th Apr | 15th Nov | 12th Apr | 7th Nov |
| Financial accounting and statement analysis | |||||
| Corporate Finance | |||||
| Exam 2 | Fixed income valuation and analysis | 12th Apr | 15th Nov | 12th Apr | 7th Nov |
| Economics | |||||
| Exam 3 | Derivative valuation and analysis | 13th Apr | 16th Nov | 13th Apr | 8th Nov |
| Portfolio management | |||||
| Exam 4 | Ethics European regulation | 13th Apr | 16th Nov | 13th Apr | 8th Nov |
ESG Common Exam
The ESG Common Exam is organised in the participating NMS on the dates given by EFFAS. Exam consists of three parts:
- Part 1: Multiple Choice Questions, 25% of the total score
- Part 2: Mini-Open Questions, 35% of the total score
- Part 3: Case Study, 40% of the total score
The exam has a duration of two hours and the minimum requirement to pass is to obtain more than 50% of the total possible points, with a minimum of 20% in each part (MCQ, OQ and CS).
| ESG Common Exam |
| Examination Dates |
| 10th March 2017 |
| 13th October 2017 |
| 9th March 2018 |
| 19th October 2018 |