CEFA Common Exam
The CEFA Common Exams are organised in the participating NMS on the dates given by EFFAS. The examination is structured in four 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||Exam Session 2021|
|Exam 1||Equity valuation and analysis.||29th April 9:00 - 12:00 hrs||4th November 9:00-12:00 hrs|
|Financial accounting and statement analysis|
|Exam 2||Fixed income valuation and analysis||29th April 14:30 - 17:30 hrs||4th November 14:30-17:30 hrs|
|Exam 3||Derivative valuation and analysis||30th April 9:00-12:00hrs||5th November 9:00-12:00hrs|
|Exam 4||Ethics European regulation||30th April 14:30 - 15:30||5th November 14:30 - 15:30|
CESGA Common Exam
Candidates eligible to take the CESGA® Common Exam are those completing the full CESGA® programme.
The exam is based on the complete CESGA® syllabus and has a duration of 150 minutes with the following two-part structure:
• 20 Multiple Choice Questions (50%)
• 1 Practical Case Study (50%)
To pass the examination, students must demonstrate their knowledge by gaining more than 50% of the 120 examination points and in each part have more than 30%
|CESGA Common Exam|
|12th March 2021|
|11th June 2021|
|17th September 2021|
|3rd December 2021|
EFFAS as awarding body does not accept requests by the candidates to review the examination paper. Nor does it provide detailed information on scores and/or percentage of correct answers / failures in the corresponding examination to the candidate. The qualification results granted by EFFAS will be SUITABLE or NOT SUITABLE and results are not open to appeal.