[Recliner]

Hawk is right. The tests cover things that weren't covered in what I learned to get my degree in finance. From what I remember of looking at a sample of the first test (They are available on their website, but I am lazy.) they go into more detail on currency trading and risk and understanding financial planning for individuals and businesses.

It all fits into finance theory; you just might not know it/be familiar with the subject matters being tested. They are not hard but each of the tests takes around 200 hours of studying to pass, which can be a problem for lots of people because they're likely working a full time job (or more) and having to study for the test. People don't study enough, which is why so many people fail the first one.

The CFA is a very well respected designation because it requires work to receive and the knowledge you gain is applicable for the jobs you would be applying for.

I have no interest in getting a CFA so think of this as second hand information and continue to look into things to make sure a CFA would be the right choice for your goals.