CFA Exam Scholarship

The University of Toronto Scarborough (UTSC) is an Affiliated University of the CFA Institute, which awards a limited number of CFA Awareness Scholarships each year. The CFA Awareness Scholarship waives the one-time CFA Program enrollment fee (if applicable) and reduces the exam registration fee to US$350 (which includes access to the curriculum eBook).

In order to be eligible for a CFA Awareness Scholarship, students must be in their third or final year of undergraduate study at UTSC.

Please send completed applications to by the following deadlines:

  • December 2018 exam:  Scholarship applications must be submitted to both the CFA Institute and the Department of Management by Saturday, September 29, 2018
  • June 2019 exam:  TBD


Application process:

Complete the Scholarship Application on the CFA website:

In the “Attachments” section of your scholarship application, please attach the following:

  • CV
  • Academic Transcript
  • Please write a 300 word essay on how you expect the CFA to add to your career

NB:  Do NOT complete your exam registration until you have been informed as to whether or not you received your scholarship award


Frequently asked questions:

1.     How many scholarships are there:

UTSC has 3 scholarships for the 2018/19 fiscal year, to be spread between the December 2018 and June 2019 exams.

2.     How much is the scholarship for?

If you are awarded a scholarship, your CFA Level 1 exam will cost US$350. The scholarship also waives the one-time enrollment fee for new Level 1 candidates. Note that recipients are still responsible for a portion of the registration fee. Regardless of when a scholarship recipient registers for the exam, their final cost is US$350. The three-tiered pricing you see on the exam fees page on the CFA website (i.e. early, standard and late registration fees) do not apply to scholarship recipients. 

3.     Who can apply?

Any registered undergraduate UTSC student in their final year of study at the scholarship deadline date (i.e. you expect to have sufficient credits to be able to graduate from the undergraduate program in June 2019).

4.     When should I register for the CFA exam?

If you are applying for a CFA Scholarship, you should not complete your exam registration until you have received notification about your scholarship award from the scholarships team.

5.     What if I want to get a head start on my studies?

You should NOT register for the CFA exam until you have received notification of your scholarship award.

If you would like to get a head start on your studies you can purchase the CFA eBook curriculum directly from the CFA Institute to begin your studying whenever you wish.

Once you register for the exam, the cost of the eBook (US$150) will be deducted from your final exam registration cost. (You must use the same email address when purchasing the eBook and to register for the exam so that the system will recognize your discount and your scholarship award, if applicable).

To purchase the curriculum you need to contact a CFA Institute Call Center Representative on 1800-247-8132.

Note: If you purchase the curriculum from a 3rd-party vendor you won’t receive the eBook credit when you register for the CFA program.

6.     When will I know if I have received the scholarship?

You will be notified whether you have received a scholarship 1- 2 weeks after the scholarship application deadline.

7.     What do I do once I hear that I have received a scholarship?

If you have been successful in your scholarship application you will be notified by the CFA Institute with a link for registration. You will receive an email that looks like this (using December 2018 as a sample):


 Your CFA Program Student Scholarship award for the December 2018 exam has been approved.  To redeem your award, enroll/register here for your exam. The reduced scholarship rate of $350 USD which includes the e-Book has been applied to your account. The print curriculum is available separately for an additional $150 USD + shipping/tax/duties. 

 If you encounter a problem with your registration, contact us. Your scholarship will expire on 12 September 2018, which is the last day to register for the December 2018 exam.  You may complete your enrollment/registration by paying with your personal credit card, check, and/or wire transfer. 

Please note that all CFA Program candidates must meet the Entrance Requirements for the CFA Program and adhere to the Scholarship Official Rules. 

 An international travel passport is required for enrollment/registration; your name as shown on CFA Institute records must be the same as your name on the passport. 

 It is your responsibility to completely register for the December 2018 exam prior to the final enrollment/registration deadline of 12 September 2018. 

 Thank you for your participation in the program.  If we may be of further assistance, please contact us.

8.     What happens if I don’t receive a scholarship?

Students who applied but were not selected will need to register for the exam once they have received notification, and before the registration deadline (e.g. 12 September 2018 for the December 2018 exam). They will receive the exam registration price that they would have been eligible for at the time they submitted their scholarship application.

When you register for the exam, use the same email that you used when you applied for the scholarship as the system will pick up the date of your scholarship application and charge you the relevant exam fee pertaining to that date. For example – IF you applied for a scholarship for the December 2018 exam:

·      If your scholarship application was completed before March 14, 2018 -  your exam fee will be US$650 (less $150 if you purchased the eBook in advance)

·      If your scholarship application was completed between March 15 and August 22, 2018 -  your exam fee will be US$950 (less $150 if you purchased the eBook in advance)

·      If your scholarship application was completed between August 23 and September 12, 2018 - your exam fee will be US$1,380 (less $150 if you purchased the eBook in advance)

In all instances, if you are not selected for a scholarship you will be required to pay the one-time program enrollment fee of US$450.

9.     What happens if I register early so that I pay a lower fee just in case I don’t receive a scholarship?

As mentioned in 7 and 8 above:

-       If you are awarded a scholarship you will pay US$350

-       If you are not awarded a scholarship you will be charged the fee applicable on the date you applied for the scholarship. So, if you applied early to take advantage of the early-bird discount, you will still get this discount

If you purchased the eBook so that you could get a head start on your studies, the cost of the eBook will be deducted from your exam fee in both cases.

10.  What happens if I have already registered to write the exam?

The CFA Institute has said: “Students should not complete their CFA Program exam registration until they have received their scholarship award or application guidance from the Scholarships team.”


Saturday, September 29, 2018