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.
- 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.
Passport:
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
- For registration, exam dates, eligibility and latest updates, visit the CFA Level I official website .
- For information about the CFA Program and all three exam levels, visit the CFA Institute website .