The post above is somewhat true.
1.) You do not need to be sponsored to write the CFA exam. You need to be a Senior in college or have a bachelors degree.
The CFA designation is one of the most highly regarded certifications in the financial industry. However, a MBA and CFA designation are not mutually exclusive. After level 1, CFA source material covers a micro area of finance, being asset management. An MBA on the other hand is more macro in terms of learning. You will learn all areas of business in addition to what ever your concentration is.