CFA is a professional designation offered by the CFA Institute (formerly known as AIMR) to financial analysts who complete a series of three examinations and work for at least four years in the investment decision making process. CFA charterholders are also obliged to adhere to a strict Code of Ethics and Standards governing their professional conduct. The curriculum for the CFA program is based on a Body of Knowledge established by the CFA Institute. The curriculum includes: Ethics and Professional Standards Quantitative Methods (such as the time value of money, and statistical inference) Economics Financial Statement Analysis Corporate Finance Analysis of Investments (stocks, bonds, derivatives, venture capital, real estate, etc.) Portfolio management and Analysis (asset allocation, portfolio risk, performance measurement, etc.) The exams are generally taken one per year for three years and are written at a postgraduate level for financial professionals. Exams are very challenging, with only 36% of candidates passing the Level I exam in June 2005. I know some people who have passed the first two levels but don't know anyone who is full CFA(Nepali). To compare CPA with CFA : CFA is a way harder than CPA. For more information about CFA go http://www.cfainstitute.org/