CBCA® | Final Exam Overview + Study Tips

Congratulations on completing the CBCA® syllabus and beginning your preparation for the final exam!

There is a 30-day waiting period between final exam attempts, so we encourage you to take ample time to prepare before attempting the final exam. This guide contains:

CBCA® - Final Exam at a Glance

Exam structure 50 multiple-choice questions, drawn from a randomized question bank.
Exam location The exam is online and does not need to be scheduled.
Exam length 3 hours, timed.
Tools Required Microsoft Excel and the ability to open and read PDF files
Exam content The exam covers the content from the core and prep courses. Content from elective courses will not be covered.
Exam results availability Candidates will receive their results immediately after completing the exam.
Passing score Candidates must achieve a score of 70% to pass.
Eligibility The exam can be accessed upon completion of all core courses and 3 or more electives.
Number of attempts Candidates who do not pass must wait thirty days before retaking the exam. Once passed, final exams cannot be retaken.
Single Browser Tab The exam should only be opened in one browser tab. Opening in additional tabs or windows may lead to issues with the exam, including automatic exam failure.
Retaking the Exam

Candidates who do not pass the exam must wait thirty days before they can attempt it again.

An active CFI subscription is required to be eligible for retaking the exam.
How to prepare Review the course videos, materials, exercises, Qualified Assessments, and case studies. Take the CBCA® Practice Exam.
Practice exams Candidates may take an unlimited number of practice exams before taking the CBCA® Final Exam.

Exam Duration

The CBCA® Final Exam is timed and must be completed within three hours.

  • Generally, we recommend spending less than 3 minutes on each question.
  • The total time allowed for the exam is 3 hours. If a candidate leaves the exam at any point, the timer will continue. Candidates may resume their current attempt if time remains.

Tips for Studying & Preparing

Review Course Materials

  • Rewatch video demonstrations
  • Review course presentations, exercises, and case studies
  • Review your course assessment results
  • Take detailed notes and organize them by topic using the "notes" feature in the CFI LMS

Refresh Your Memory on Important Courses:

These courses cover some of the more advanced concepts you will be tested on. Be sure to review the completed financial models in detail and be able to connect the assumptions and drivers to the relevant sections of each model.

Complete advanced-level electives 

  • Complete at least one level 4- and one level 5 elective course. While these will refer to some of the earlier courses and principles, the exam will not test your knowledge of elective content.

Take the practice exam 

  • The practice exam will best indicate what to expect in the final exam. We recommend taking the practice exam multiple times until you feel comfortable and confident in your understanding of the material.

Review the following important concepts:

We recommend reading through the articles and downloading the files for each.

Case Study

The Case Study will assess your ability to analyze a specific company, given a client brief, financial statements, and a financial worksheet. You will be required to answer 20 questions based on the provided information.

Other Tips to Consider

  • Be sure to sit in a comfortable setting with no distractions.
  • Keep a snack and water nearby to stay energized and well-hydrated.
  • Ensure that you have a stable network connection.
    • You can refresh your browser during a brief outage without losing progress, but the exam counter will not stop.
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