A:

According to the CFA Institute, a candidate can take as much time as necessary to complete all three levels of the CFA program.

Therefore, if you passed the June 2004 CFA Level I examination, you could take the CFA Level II examination in June 2009 (rather than June 2005) and the CFA Level III examination in June 2015.

Remember that successful completion of all three CFA examinations is only one of several requirements needed to obtain your CFA charter. Click here for more information on how to obtain your CFA charter.

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