Some of these changes are as follows: 1  The Church was no longer independent from the state. 2  They reached the end of feudalism. 3  The people of France gained rights and liberties, along with legal equality. 4  Women gained some power; mainly a voice for political and social rights.
The CFA Program includes a series of three exams; Levels I, II, and III. Are offered annually â at test centers around the world â on the first Saturday in June. The Level I exam is also offered in December.
Start Early. The CFA Institute estimates that at least 250 hours of independent study is necessary to pass each exam, and the institute's 2015 survey showed that candidates actually prepares for 308 hours on average across the exam levels.