All CIFA™ exams will be invigilated at selected locations. Please Contact Us to book the exam.

Exam Format

CIFA™ examinations are structured as follows:

Foundation: Passing mark is 70%.
50 Multiple Choice Questions @ 1 ½ hour exam.

Specialist: Passing mark is 60%
Part 1 : 30 to 50 Multiple Choice Questions @ 1 to 1½ hour exam.
Part 2: Three Structured Case Questions @ 1 hour exam.

Candidates will be provided with an Exam Guide and a Mock Exam to prepare for the exam.

Examination Method

CIFA™ examination may be conducted through:

  • Paper Based Exam; or
  • Computer Based Exam (CBE).

CBE Demo


Exam Results Foundation Exam Specialist Exam
Computer Based Exam (CBE)
  • Results will be released immediately at the end of the exam session
  • Results will be updated in your CIFA™ Account seven days after the exam.
  • Regardless of the exam method, since there are structured case questions at the specialist level, the final results will be known two months after the examination date
  • If Part A of the the specialist exam is done through CBE, candidates will only know Part A result at the end of the exam session.
Paper Based Exam
  • Results will be available in your CIFA™ Account one month after the examination date.

The CIFA™ Certificate for candidates that pass their exam will be mailed on a quarterly basis.


For unsuccessful candidates, a feedback will be provided on areas that you should focus on your studies. You can arrange for an exam re-sit when you are ready. The exam re-sit fee are as follows:

  • Foundation US$100
  • Specialist US$250

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