# Navigating the CFA Program Practical Skills Module: A Comprehensive Guide

2 Jan 24

_Hey everyone, Nathan Ronen, CFA here with an insightful update on the CFA_ ® _Program’s new Practical Skills Module. This applies to our CFA Level I (“Level 1”) and CFA Level II (“Level 2”) exam candidates in 2024 and beyond._

The Practical Skills Module (PSM) has generated a lot of buzz lately, and I've been inundated with queries about it. Here's the lowdown on what you need to know.

**Understanding the Basics of PSM for the Purpose of Your CFA Exam:**

First off, is the PSM a requirement? Yes, indeed! For both Level 1 and Level 2, completion of the PSM is mandatory for receiving your CFA exam results.

**Key Timelines and Access:**

Wondering when and where? The PSM kicks off for Level 1 in February 2024 and for Level 2 in May 2024, accessible via your learning ecosystem on the CFA Institute's platform.

**Time Allocation:**

Plan for 10 to 15 hours to cover the additional PSM requirement. Remember, this isn't exam content but a necessary component for releasing your scores.

**Timing Your PSM Completion:**

When should you do it? The choice is yours! You can complete the PSM at any time after registering for the exam until before your exam's release date. Pro tip: Don't leave it until the last minute.

**Choosing Your Module:**

At Level 1, select between Financial Modeling and Python Programming. At Level 2, there are Analyst Skills, Python Data Science, AI, and Python Programming options.

**Completing PSM and Exam Results:**

Even if you fail your exam, completing the PSM once suffices. You won't need to redo it unless you wish to switch modules before the exam release date.

**Benefits of PSM:**

The PSM isn't exam content; it's hands-on, designed to bridge the gap between theory and practice. It's a fantastic addition to the curriculum, offering real-world applications.

**How Chalk & Board Can Help:**

Unfortunately, test prep providers like Chalk & Board currently don't have access to the PSM videos or material. However, we're here to guide and answer questions to help you navigate this requirement.

**Looking Forward:**

2025 will likely see changes, but the CFA Institute is yet to address the PSM at CFA Level III (“Level 3”) of the exam curriculum.

**Final Thoughts:**

Ensure you complete the PSM before your exam's release date, and don't leave it to the eleventh hour. I'm here to support your Level 1 and Level 2 preparation, so reach out if you need assistance!

Best regards,

Nathan Ronen, CFA

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