CFA® 자격보유자의 시험면제 혜택 

Issuing EntityCountry CodeTypeExemption CategoryEligibility
Griffith University AUGraduate School WaiverGMAT / GRE / BAT and the specialized undergraduate degree in finance Candidates who have passed the Level I CFA exam
Macquarie University AUGraduate School WaiverSome of the courses Candidates who have passed Level I, II, or III CFA Exam 
York University CAGraduate School WaiverGMAT / GRE Candidates who have passed the Level I CFA exam 
Wilfrid Laurier University CAGraduate School WaiverGMAT Candidates who have passed the Level I CFA exam
University of Regina CAGraduate School WaiverUp to nine credit hours of advanced standing CFA Charterholders
Concordia College CAGraduate School WaiverGMAT Candidates who have passed the Level I CFA exam
Smith School of Business at Queen’s University CAGraduate School WaiverGMAT Candidates who have passed the Level I CFA exam 
University of Toronto CAGraduate School WaiverGMAT Candidates who have passed the Level III CFA exam
China Europe International Business School CNGraduate School WaiverQualification to be awarded the FMBA-CFA Scholarship of 50,000 RMB Candidates who have passed the Level III CFA exam 
Frankfurt School of Finance and Management DEGraduate School WaiverOne elective Candidates who have passed Level I, II, or III CFA Exam 
American University in Cairo EGGraduate School WaiverFinance 540 and Accounting 5201 coursesCandidates who have passed the Level II CFA exam 
Universidad de Castilla la Mancha ESGraduate School WaiverFirst year of the programCFA Charterholders
Universidad Complutense de Madrid ESGraduate School WaiverFirst year of the program CFA Charterholders 
IE Business School ESGraduate School WaiverGMAT / GRE Candidates who have passed the Level II CFA exam
IE Business School ESGraduate School WaiverGMAT / GRE Candidates who have passed the Level I CFA exam 
Universidad de Valencia ESGraduate School WaiverCoursework requirements, first year of the program CFA Charterholders
EADA Business School ESGraduate School WaiverGMAT/ EADA entrance exam Candidates who have passed the Level I CFA exam 
Universidad del País Vasco ESGraduate School WaiverFirst year of the program CFA Charterholders
Grenoble École de Management FRGraduate School WaiverGMAT / GRE Candidates who have passed the Level I CFA exam
University College Cork IEGraduate School WaiverAC6120 Professional Examination Report module CFA Charterholders
London Business School UKGraduate School WaiverGMAT / GRECandidates who have passed the Level II CFA exam 
Lancaster University UKGraduate School WaiverQualification for the program Candidates who have passed the Level I CFA exam
University of London UKGraduate School WaiverGlobal MBA course credits Candidates who have passed Level I, II, or III CFA Exam 
Loyola University Maryland USGraduate School WaiverGMAT CFA Charterholders 
Boston University USGraduate School WaiverTwo courses CFA Charterholders
Texas A&M University USGraduate School WaiverFinancial Accounting and Microeconomics coursesCandidates who have passed the Level I CFA exam
University of Tampa USGraduate School WaiverGMAT Candidates who have passed Level I, II, or III CFA Exam 
University of North Carolina at Chapel Hill USGraduate School WaiverGMAT / GRECFA Charterholders 
University of California, Berkeley USGraduate School WaiverMBA 202 Financial Accounting and MBA 203 Finance Candidates who have passed the Level III CFA exam
University of Rhode Island USGraduate School WaiverGMAT Candidates who have passed the Level II CFA exam 
University of Connecticut USGraduate School WaiverGMAT / GRE CFA Charterholders
University of Kentucky USGraduate School WaiverGMAT / GRE CFA Charterholders
University of Massachusetts, Boston USGraduate School WaiverGMAT / GRE CFA Charterholders 
Creighton University USGraduate School WaiverGMAT Candidates who have passed Level I, II, or III CFA Exam 
American University USGraduate School WaiverGMAT Candidates who have passed the Level I CFA exam 
American University USGraduate School WaiverGMAT Candidates who have passed the Level I CFA exam
Duke University USGraduate School WaiverFinance 645 Candidates who have passed the Level III CFA exam 
Dartmouth College USGraduate School WaiverFinance core requirement CFA Charterholders
University of South Florida USGraduate School WaiverGMAT CFA Charterholders
Emory University USGraduate School WaiverGMAT / GRE CFA Charterholders
University of California, Los Angeles USGraduate School WaiverMgmt 408 Financial Markets CFA Charterholders
Sacred Heart University USGraduate School WaiverGMAT CFA Charterholders
University of Virginia USGraduate School WaiverGMAT / GRE / Executive Assessment CFA Charterholders 
Cornell University USGraduate School WaiverCFA Charterholders: 15 credits,
Level II candidates: NCC – 5000 course
CFA Charterholders, Candidates who have passed the Level II CFA exam 
Boston College USGraduate School WaiverSome of the courses CFA Charterholders 
University of North Carolina, Wilmington USGraduate School WaiverGMAT/GRE Candidates who have passed the Level I CFA exam
Seattle University Albers School of Business and Economics USGraduate School WaiverGMAT/GRE CFA Charterholders
Johns Hopkins University USGraduate School WaiverGMAT/GRE CFA Charterholders
Seton Hall University USGraduate School WaiverGMAT/GRECFA Charterholders
Texas Christian University USGraduate School WaiverGMAT/GRECFA Charterholders
Suffolk University USGraduate School WaiverGMAT/GRECandidates who have passed the Level I CFA exam
Seattle University USGraduate School WaiverGMAT/GRECFA Charterholders
Loyola University Chicago USGraduate School WaiverGMAT/GRECFA Charterholders
Texas Christian University USGraduate School WaiverGMAT/GRE CFA Charterholders 
University of Notre Dame USGraduate School WaiverSome of the course work CFA Charterholders 
Drexel University USGraduate School WaiverUp to ten credits prior to matriculationCFA Charterholders
University of Notre Dame USGraduate School WaiverSome of the courses CFA Charterholders
University of North Carolina, Wilmington USGraduate School WaiverGMAT/GRE Candidates who have passed the Level I CFA exam
University of Iowa Tippie College of Business USGraduate School WaiverSome of the courses Candidates who have passed the Level I CFA exam
CFA Institute Certification Program WaiverLevel I exam CFA Charterholders, Candidates who have passed the Level III CFA exam 
Royal Institute of Chartered Surveyors Certification Program WaiverBasic qualification competencies portion of the RICS Certified in Entity and Intangible Valuations (CEIV) credential CFA Charterholders 
American Institute of Certified Public Accountants Certification Program WaiverValuation competencies portion of the CEIV credential Candidates who have passed the Level III CFA exam 
Association of International Wealth Management Certification Program WaiverFoundation exam Foundation exam 
Chartered Institute for Securities and Investment Certification Program WaiverCFA Charterholders: Financial Markets unit of the Diploma in Capital Markets,
Level I candidates:  Introduction to Securities and Investments
CFA Charterholders, Candidates who have passed the Level I CFA exam
The Institute of Chartered Accountants in England and Wales UKCertification Program WaiverCertificate and Professional Level (CPL) exams CFA Charterholders
Institute and Faculty of Actuaries Certification Program WaiverIFoA subject(s) relevant to each level CFA Charterholders, Candidates who have passed Level I, II, or III CFA Exam 
American Society of Appraisers Certification Program WaiverEducation EquivalencyCFA Charterholders 
Society of Actuaries Certification Program WaiverLevel I candidates: Economics portion of VEE,
Level II candidates: Applied Statistics and Corporate Finance portions of VEE
Candidates who have passed the Level I or II CFA exam
CFA Society United Kingdom UKCertification Program WaiverUnit 2: Investment Practice Candidates who have passed the Level I CFA exam
Investment Management Consultants Association Certification Program Waiver Two of the five steps to obtain the CIMA certification CFA Charterholders 
American Society of Appraisers Certification Program WaiverBusiness valuation education requirementsCFA Charterholders 
Association of International Wealth Management of India INCertification Program WaiverCCRA Level 1 Examination Candidates who have passed the Level II or III CFA exam
Chartered Insurance Institute Certification Program Waiver AF4 Investment planning and R02 Investment principles and risk Candidates who have passed Level I, II, or III CFA Exam 
Canadian Securities Institute CACertification Program WaiverQualification to enroll in a fast track version of the Wealth Management Essentials (WME) course CFA Charterholders
Professional Risk Managers International Association Certification Program WaiverPRM exams I and IICFA Charterholders
Certified Financial Planner Board of Standards Certification Program WaiverMost of the education coursework requirement for CFP® certification CFA Charterholders 
Analysts and Professional Investors of the Capital Market Certification Program WaiverGlobal Content exam Candidates who have passed the Level II CFA exam 
National Football League Players Association USCertification Program WaiverEligibility requirements CFA Charterholders
Chartered Financial ConsultantCertification Program WaiverHS 328 Investments courseCFA Charterholders 
The American College of Financial Services Certification Program WaiverHS 328 Investments course CFA Charterholders 
National Association of Estate Planners and Councils Certification Program WaiverEligibility requirements CFA Charterholders 
Chartered Institute of Management Accountants Certification Program WaiverQualification for the Master’s gateway route Candidates who have passed the Level III CFA exam
Institute of Directors UKCertification Program WaiverFinance for Non-Finance Directors module of the Certificate in Company Direction CFA Charterholders 
Association of Chartered Certified Accountants Certification Program WaiverFinancial Accounting exam (Paper F3) CFA Charterholders 
CAIA Association Certification Program WaiverCAIA Level 1 exam CFA Charterholders 
Comisión Nacional de Valores (CNV) ESCertification Program WaiverThe Certified Advisor (CAd) certificate developed by CFA Society Spain is recognized by CNMV under Mifid II for financial advisers and information-givers. Candidates who have passed the Level I CFA exam
Chartered Market Technicians (CMT) Association Certification Program WaiverCMT Level I Exam Exemption CFA Charterholders 
Armenia: Central Bank of the Republic of Armenia (CBA) AMLicensing Exam WaiverQualification CertificateQualification Certificate, 
Armenia: Central Bank of the Republic of Armenia (CBA) AMLicensing Exam WaiverQualification CertificateCandidates who have passed the Level II CFA exam
Argentina: Comisión Nacional de Valores (CNV) ARLicensing Exam WaiverCertification ExamCandidates who have passed the Level I CFA exam 
Australia: Australian Securities and Investments Commission (ASIC) AULicensing Exam WaiverLicensing Exam CFA Charterholders, Candidates who have passed the Level I CFA exam
Bulgaria: Financial Supervision Commission (FSC) BGLicensing Exam WaiverInvestment Consultant LicenseCandidates who have passed the Level I CFA exam
Bahrain: Central Bank of Bahrain (CBB) BHLicensing Exam WaiverQualification for Controlled FunctionsCFA Charterholders
Bahrain: Central Bank of Bahrain (CBB) BHLicensing Exam WaiverFinancial Advice Program (FAP) Level IICFA Charterholders 
Brazil: ANBIMA BRLicensing Exam WaiverPartial Exemption Candidates who have passed the Level III CFA exam
Brazil: Comissão de Valores Mobiliários (CVM) BRLicensing Exam Waiver Research AnalystCandidates who have passed the Level II CFA exam
Brazil: Comissão de Valores Mobiliários (CVM) BRLicensing Exam WaiverResearch AnalystCandidates who have passed the Level II CFA exam
Brazil: Comissão de Valores Mobiliários (CVM) BRLicensing Exam WaiverSecurities ConsultantCandidates who have passed the Level III CFA exam
Brazil: Superintendência Nacional de Previdência Complementar (PREVIC) BRLicensing Exam WaiverPension Fund ManagerCFA Charterholders
Bahamas: Securities Commission of The Bahamas BSLicensing Exam WaiverEducation RequirementsCandidates who have passed the Level I CFA exam
Canada: Canadian Securities Administrators (CSA) CALicensing Exam WaiverProficiency RequirementsCFA Charterholders
Canada: Investment Industry Regulatory Organization of Canada (IIROC) CALicensing Exam WaiverIndividual Proficiency Requirements (Rule 2900)CFA Charterholders
Canada: Investment Industry Regulatory Organization of Canada (IIROC) CALicensing Exam WaiverIndividual Proficiency Requirements under the Plain Language Rule Book (“Rule Book”), Effective December 31, 2021CFA Charterholders, Candidates who have passed the Level I, II, or III CFA exam
Chile: Comisión para el Mercado Financiero CLLicensing Exam WaiverLicensing ExamsCandidates who have passed the Level I CFA exam
China: Asset Management Association of China (AMAC) CNLicensing Exam WaiverProfessional Qualification ExamCFA Charterholders 
Egypt: Financial Regulatory Authority (FRA) EGLicensing Exam WaiverExam RequirementCandidates who have passed the Level I CFA exam 
Greece: Hellenic Republic Capital Market Commission GRLicensing Exam WaiverRegulatory ExamCFA Charterholders 
Hong Kong SAR: Hong Kong Securities and Futures Commission HKLicensing Exam WaiverSFC Licensing Exams Candidates who have passed the Level I CFA exam
Hong Kong SAR: Hong Kong Securities and Futures Commission HKLicensing Exam WaiverQualification RequirementsCFA Charterholders
The Netherlands: Dutch Securities Institute NLLicensing Exam WaiverFinancial Analyst Qualification RequirementCandidates who have passed the Level I CFA exam
The Netherlands: Dutch Securities Institute NLLicensing Exam WaiverSenior Fund Manager Qualification RequirementCFA Charterholders 
The Netherlands: Dutch Securities Institute NLLicensing Exam WaiverSenior Financial Analyst Qualification RequirementCFA Charterholders
The Netherlands: Dutch Securities Institute NLLicensing Exam WaiverProgram for WaiverCandidates who have passed the Level I CFA exam
The Netherlands: Dutch Securities Institute NLLicensing Exam WaiverSenior Investment Adviser Qualification RequirementCandidates who have passed the Level I CFA exam
Turkey: Capital Markets Board of Turkey (CMB) NLLicensing Exam WaiverCMA Level 2 LicenseCandidates who have passed the Level II CFA exam
Indonesia: Financial Services Authority of Indonesia (OJK) IDLicensing Exam WaiverInvestment Certificate Exam and Work ExperienceCFA Charterholders
Ireland: The Institute of Banking (Ireland) IELicensing Exam WaiverRequirements for APACFA Charterholders 
Ireland: The Institute of Banking (Ireland) IELicensing Exam WaiverFinancial Advice ExamCFA Charterholders
Ireland: The Institute of Banking (Ireland) IELicensing Exam WaiverSecurities and Market ModuleCandidates who have passed the Level I CFA exam
Israel: Israel Securities Authority (ISA) ILLicensing Exam WaiverLicensing Exams and Internship RequirementCFA Charterholders 
Jersey: Jersey Financial Services Commission JELicensing Exam WaiverQualification for Investment BusinessCFA Charterholders, Candidates who have passed the Level I CFA exam
Kenya: Institute of Certified Investment and Financial Analysts (ICIFA) KELicensing Exam WaiverCIFA Exam PapersCFA Charterholders
Kuwait: Capital Markets Authority (CMA) of Kuwait KWLicensing Exam WaiverFit and Proper RequirementsCFA Charterholders
Mexico: Comision Nacional del Sistema de Ahorro para el Retiro (CONSAR) MXLicensing Exam WaiverAFORES Certification RequirementsCandidates who have passed the Level II or III CFA exam
Mexico: Asociacion Mexicana de Instituciones Bursatiles (AMIB) MXLicensing Exam WaiverExam RequirementCandidates who have passed the Level I CFA exam
Malaysia: Securities Commission Malaysia (SC) MYLicensing Exam WaiverLicensing ExamsCFA Charterholders 
New Zealand: Financial Markets Authority (FMA) NZLicensing Exam WaiverUnit Standard Sets A and DCFA Charterholders
Peru: La Superintendencia del Mercado de Valores (SMV) PELicensing Exam WaiverRequirements for Director of Market Regulation of the Securities ExchangeCandidates who have passed the Level I CFA exam
Peru: Administradores de Fondos Pensiones (AFP) PELicensing Exam WaiverQualification and Experience RequirementCandidates who have passed the Level I CFA exam
La Superintendencia del Mercado de Valores (SMV) PELicensing Exam WaiverQualification for Roles with the Superintendencia del Mercado de ValoresCandidates who have passed the Level I CFA exam
Philippines: Securities and Exchange Commission Philippines PHLicensing Exam WaiverRequirement to Manage Mutual FundsCandidates who have passed the Level I CFA exam 
Pakistan: Securities and Exchange Commission of Pakistan (SECP) PKLicensing Exam WaiverFCM Certification RequirementCFA Charterholders
Poland: Ministry of Finance for the Republic of Poland PLLicensing Exam WaiverProfessional RequirementsCFA Charterholders
Portugal: Comissão do Mercado de Valores Mobiliários (CMVM) (Portuguese Securities Market Commission) PTLicensing Exam WaiverQualifications to RegisterCFA Charterholders
Saudi Arabia: Capital Markets Authority (CMA) of Saudi Arabia SALicensing Exam WaiverPart Two of the CME-1 ExamCandidates who have passed the Level I CFA exam
Singapore: Monetary Authority of Singapore (MAS) SGLicensing Exam WaiverCMFAS Exam Modules for CMS RepresentativesCMFAS Exam Modules for CMS Representatives, 
Singapore: Monetary Authority of Singapore (MAS) SGLicensing Exam WaiverCMFAS Exam Modules for Financial Advisor RepresentativeCFA Charterholders
Slovenia: ATVP, ATVP – Securities Market Agency SILicensing Exam Waiver Partial Exemption for Authorisation to provide broker services,Candidates who have passed the Level III CFA exam
Sri Lanka: Securities and Exchange Commission of Sri Lanka LKLicensing Exam WaiverRequirement to Practice as Investment ManagerCFA Charterholders
Thailand: Bank of Thailand (BoT) THLicensing Exam WaiverTraining and Work ExperienceCandidates who have passed the Level I CFA exam
Thailand: Bank of Thailand (BoT) THLicensing Exam WaiverFund Manager RequirementCandidates who have passed the Level I CFA exam
Thailand: Bank of Thailand (BoT) THLicensing Exam WaiverInvestment Analysis on SecuritiesCandidates who have passed the Level I CFA exam
Thailand: Bank of Thailand (BoT) THLicensing Exam WaiverTraining CourseworkCandidates who have passed the Level I or II CFA exam
Turkey: Capital Markets Board of Turkey (CMB) TRLicensing Exam WaiverCMA Level 1 LicenseCandidates who have passed the Level I CFA exam
Turkey: Capital Markets Board of Turkey (CMB) TRLicensing Exam WaiverCMA Level 3 LicenseCandidates who have passed the Level III CFA exam
Taiwan: Securities Investment Trust & Consulting Association (SITCA) TWLicensing Exam WaiverSecurities Investment Analyst Qualification RequirementCFA Charterholders
United Kingdom: Financial Conduct Authority (FCA) UKLicensing Exam WaiverIMC Unit 2 (full exemption)CFA Charterholders 
United Kingdom: Financial Conduct Authority (FCA) UKLicensing Exam WaiverInvestment Management Certificate (IMC) Unit 2Candidates who have passed the Level I or II CFA exam
United Kingdom: Financial Conduct Authority (FCA) UKLicensing Exam WaiverIMC Unit 2Candidates who have passed the Level III CFA exam
United States: Investment Adviser Registration Depository (IARD) USLicensing Exam WaiverState competency examsCFA Charterholders
United States: North American Securities Administrators Association (NASAA) USLicensing Exam WaiverSeries 65 ExamCFA Charterholders 
United States: Financial Industry Regulatory Authority (FINRA) USLicensing Exam WaiverPart I (Series 86)Candidates who have passed the Level II CFA exam 
United States: New York Stock Exchange (NYSE) USLicensing Exam WaiverPart II of the NYSE Supervisory Analysts Qualification ExamCandidates who have passed the Level I CFA exam
Uruguay: Central Bank of Uruguay UYLicensing Exam WaiverProfessional Competency RequirementCFA Charterholders
Vietnam: State Securities Commission (SSC) VNLicensing Exam WaiverPartial Exemption Candidates who have passed the Level II CFA exam
Vietnam: State Securities Commission (SSC) VNLicensing Exam WaiverPracticing CertificateCFA Charterholders 
South Africa: Financial Services Board ZALicensing Exam WaiverEntry Level QualificationCFA Charterholders 
Close