CFA Level 1

CFA Level I is the first exam in the CFA Program. It tests your basic understanding of finance, investments and financial markets.

It helps you build the foundation needed to understand how investments are analysed and managed.

Conducted by: CFA Institute.

📌 Quick Facts

Who Can Apply: Graduates and eligible undergraduate students who meet CFA Institute requirements.

Mode: Computer-Based Test (CBT)

Duration: 4.5 Hours

Total Questions: 180 Multiple Choice Questions (MCQs)

Frequency: Four times a year (usually in February, May, August and November)

  • After Graduation: You can apply after completing a bachelor's degree.
  • During Graduation: You can also apply while studying for your bachelor's degree if you meet the CFA Institute's eligibility requirements.

Another Option:

  • You can also qualify without completing a bachelor's degree if you have a combination of higher education and professional work experience. You need a total of 4,000 hours completed over at least 3 years.
  • Example: You studied at a college for 2 years but did not complete your bachelor's degree. After that, you worked for 2,000 hours. Your college education (2,000 hours) + work experience (2,000 hours) = 4,000 hours. If you complete these 4,000 hours over 3 years or more, you may be eligible for the CFA Program.

    Passport:

  • You need a valid international passport to register for and take the CFA exam.
  • English: CFA exams are conducted in English, so you should be comfortable reading and understanding English.

Mode: Computer-Based Test (CBT)

Duration: 4.5 Hours

Total Questions: 180 Multiple Choice Questions (MCQs)

Sessions: 2 Sessions of 135 Minutes Each

Questions per Session: 90 Questions

Answer Choices: 3 Options for Each Question

Negative Marking: No Negative Marking

Practical Skills Module (PSM):

  • Candidates must complete one Practical Skills Module to receive their exam result.
  • A Practical Skills Module (PSM) is a short, practical course that teaches you how to use what you learn in the CFA Program in real-world situations.

The CFA Level I exam covers the following subjects:

  • Ethical and Professional Standards: 15–20%
  • Quantitative Methods: 6–9%
  • Economics: 6–9%
  • Financial Statement Analysis: 11–14%
  • Corporate Issuers: 6–9%
  • Equity Investments: 11–14%
  • Fixed Income: 11–14%
  • Derivatives: 5–8%
  • Alternative Investments: 7–10%
  • Portfolio Management: 8–12%

🌐 Official Website