The Accredited Financial Analysis course built for real analyst careers
The AFA® is a two-level globally recognised program that builds the financial analysis, equity research, valuation and modelling skills employers demand — from financial markets fundamentals through to advanced portfolio management and financial modelling.
A complete financial analyst skill set — in two levels
The AFA® program teaches candidates to interpret economic environments, analyse financial statements, manage corporate risks, evaluate capital structures, apply statistical methods, understand fixed income securities, construct optimal portfolios and develop valuation methods for financial instruments.
Financial markets fluency
Understand global financial systems, institutions and how economic changes influence markets and instruments — the essential context for every analyst decision.
Quantitative techniques
Apply statistical and mathematical methods — probability, hypothesis testing, return measurement and coefficient of variation — to real financial data sets.
Financial statement analysis
Read income statements, balance sheets and cash flow statements to support investment decisions and assess the financial strength of listed companies.
Corporate finance
Master long-term financing decisions, capital budgeting and corporate governance considerations relevant to listed entities and equity analysts.
Fixed income analysis
Analyse treasury securities, bonds and structured securities — including price-yield relationships, yield measures and return analysis across the fixed income universe.
Equity valuation and research
Conduct comprehensive equity analysis including sector and company valuation, building the core competency research desks hire for.
Portfolio management
Apply risk-return fundamentals, construct Investment Policy Statements and build equity and debt portfolio strategies aligned with client objectives.
Advanced financial analysis
Build financial research models in MS Excel — covering risk analysis, financial statements and professional report writing — producing work-ready analyst outputs.
Structured for working professionals and students
Two examination levels, flexible study modes and a clear completion timeline make the AFA® accessible whether you are in full-time employment or full-time study.
Enrol and access study materials
On registration you receive online access to comprehensive study materials covering all 10 units. Both classroom and distance-learning delivery modes are available to suit your location and schedule.
Complete Level 1 — Foundation (5 units)
Sit the Level 1 examination covering Introduction to Financial Markets, Quantitative Techniques, Financial Statement Analysis, Corporate Finance and Fixed Income Security Analysis. The exam is 115 minutes, 80 questions, 170 total marks, with a 50% passing score.
Complete Level 2 — Advanced (5 units)
Progress to the Level 2 examination covering Equity Valuation, Derivatives and Alternate Investments, Portfolio Management Strategies, Behavioral Finance and Advanced Financial Analysis. The exam is 175 minutes, 90 questions, 200 total marks, with a 50% passing score.
Submit project work (both levels)
Complete two levels of project work that apply your learning to practical financial analysis scenarios — demonstrating the applied competence that employers value alongside examination results.
Receive the AFA® designation
On meeting all requirements — examinations, project work and a bachelor's degree from an accredited institution — you are awarded the Accredited Financial Analyst® designation, recognised in 151+ countries.
Who can enrol in the AFA® course
The AFA® is open to candidates at an early stage in their finance career as well as established professionals seeking a globally recognised analytical credential.
Enrolment requirements
- Minimum qualification of Intermediate / 10+2 to enrol
- A bachelor's degree from an accredited institution is required at the time the AFA® designation is granted
- Completion of both Level 1 and Level 2 examinations
- Completion of two levels of project work
- No prior work experience requirement to begin the program
Who is best suited
- Finance students and recent graduates targeting research or analyst roles
- Working professionals in broking, AMC, banking or corporate finance
- Equity analysts and research associates seeking a recognised credential
- MBAs and CAs expanding into financial analysis or fund management
AFA® exam structure at a glance
Two proctored examinations, each covering five units, assess knowledge progressively from foundational concepts to advanced analytical applications.
| Detail | Level 1 — Foundation | Level 2 — Advanced |
|---|---|---|
| Units covered | Units 1 to 5 | Units 6 to 10 |
| Number of questions | 80 questions | 90 questions |
| Total marks | 170 marks | 200 marks |
| Exam duration | 115 minutes | 175 minutes |
| Passing score | 50% | 50% |
Alongside both examinations, candidates must complete two levels of project work — applying curriculum concepts to practical financial analysis scenarios. See the full examination page for further details on the format and preparation guidance.
Where the AFA® course takes you
The skills and the globally recognised designation open doors across the financial services industry — in research, analysis and fund management roles at broking houses, AMCs, investment banks and corporate finance teams.
Ready to explore the full syllabus? View the AFA® curriculum module by module, or see the fees and registration details to plan your enrolment.
Explore every step of the AFA® journey
The Accredited Financial Analyst pathway is a connected set of pages — start anywhere, each links back here.
Set yourself apart as an Accredited Financial Analyst®
Give a course advisor 15 minutes and walk away with a clear plan, fee options and your next batch date — no pressure, no jargon.
AFA® Course — Common Questions
The Accredited Financial Analyst® (AFA®) is a two-level certification program administered by AAFM® USA and delivered in India by AAFM India. It develops the analytical, valuation and research skills demanded by equity desks, AMCs, investment banks and research houses.
The program suits research analysts, equity analysts, financial analysts, investment and fund-management professionals, finance graduates and MBAs who want to move into or advance within analyst or research roles.
You may enrol after completing 10+2 (Intermediate). A bachelor's degree from an accredited institution is required at the time the AFA® designation is granted. You must also complete two levels of project work alongside the examinations.
Registration is valid for 365 days from enrolment, and candidates must complete the program within 3 years. Study can be completed via classroom or distance-learning modes.
Level 1 covers Introduction to Financial Markets, Quantitative Techniques, Financial Statement Analysis, Corporate Finance and Fixed Income Security Analysis. Level 2 covers Equity Valuation, Derivatives and Alternate Investments, Portfolio Management Strategies, Behavioral Finance and Advanced Financial Analysis.
Submit an enquiry through the form on this page or call us on +91 96501 59583. An AAFM India counsellor will share the brochure, current fees and the next available intake details.
Start your AFA® journey today
Request a call back and our counsellors will share the full syllabus, fees, batch options and the next start date — and help you choose the right plan.