Timeline: 1960s - Celebrating 50 years of the CFA Program

About the CFA Charter

The CFA Charter is a distinction granted to those who undertake and pass a rigorous, graduate-level curriculum. The Program links theory and practice with real-world investment analysis and portfolio management skills, and emphasizes the highest ethical and professional standards.

Candidates must pass three exam levels and meet requirements of four years of work experience in the investment industry. They also must pledge to abide by the CFA Institute Code of Ethics and Standards of Professional Conduct, apply to a CFA Institute society and become a member of CFA Institute.

Those who meet the requirements benefit from the extensive knowledge attained in pursuit of the Charter. In addition, they also gain the advantages of membership in an active, global community.

A 50-year history of the CFA Program

Learn how the CFA Program has become the “gold standard” of professionalism in the financial and investment communities. This special commemorative book covers the charter’s first 50 years, revealing how the ideas and perseverance of a few visionaries transformed financial analysis and institutionalized its highest ideals and best practices.

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1960s
2,480 CFA charters are earned this decade.
1962
The Institute of Chartered Financial Analysts is incorporated and headquartered in Charlottesville, Virginia.
1962
The CFA Code of Ethics is adopted by the Financial Analysts Federation. The Institute of Chartered Financial Analysts adopts the code, along with guidelines specifically for charterholders in 1964.
1964
All three levels of the CFA exam are offered. 1,732 candidates sit for Levels I, II and III of the exam. 179 charters were awarded.
1964
NYSE adopts Rule 344, which specifies that supervisory research personnel may offer the CFA charter as one of the 3 sufficient qualifications.
1968
First multiple choice questions appear at Level I.
1969
First iteration of the Body of Knowledge, known as the General Topic Outline, is compiled and published.

1960s

1962

1962

1964

1964

1968

1969