Overview

NEW 2025 - CFA Level IThe CFA Level 1 exam is the first step in the Chartered Financial Analyst program, a globally recognized credential for investment professionals. It tests foundational knowledge in various areas of finance, including ethics, quantitative methods, economics, and portfolio management. The exam consists of 180 multiple-choice questions, covering 10 subject areas.Level I curriculum topics and weightsThe curriculum is organized into topics, and each topic contains learning modules. There are learning outcome statements at the beginning of each learning module.Session 1: Topic Exam weight 1 Ethical and Professional Standards 15-20% 1 Quantitative Methods 6-9% 1 Economics 6-9% 1 Financial Statement Analysis 11-14% 1 Corporate Issuers 6-9% Session 2: Topic Exam weight2 Equity Investments 11-14% 2 Fixed Income 11-14% 2 Derivatives 5-8% 2 Alternative Investments 7-10% 2 Portfolio Management 8-12%Level I exam format, structure, and durationThe CFA Level I exam consists of multiple-choice questions. Familiarizing yourself with the format will help you approach the exam efficiently, manage your time effectively, and avoid common pitfalls to maximize your performance.The Level I exam consists of 180 multiple choice questions, split between two 135-minute sessions (session times are approximate).The are two 135-minute sessions (session times are approximate), with an optional break between sessions.Each multiple-choice item on the CFA Level I exam consists of a stem (a question, a statement, and/or table) as well as three answer choices (A, B, or C).CFA Exam Dates and SchedulesExam Preparation:Time Commitment:The CFA Institute recommends at least 300 hours of preparation for Level 1.Study Resources:Candidates can utilize official CFA Institute materials, study guides from various providers, and practice questions.Study Strategies:Effective study plans should include a structured approach, regular practice, and a focus on understanding core concepts.Level I exam tipsHere are some practical tips to help you perform your best on the CFA Level I exam.Financial Statement Analysis: Questions on this topic are based on International Financial Reporting Standards (IFRS), unless otherwise noted. If a question references U.S. GAAP, this will be explicitly stated.No penalty for guessing: There is no penalty for incorrect answers, so be sure to answer every question.Know your calculator: Make sure you know how to use the calculator features needed to solve the formulas and examples shown in the curriculum. Familiarity with your calculator will save valuable time during the exam.Dress for comfort: There's no official dress code, but dressing in layers will allow you to adjust to the room temperature and remain comfortable during the exam.Exam hardware and software: Make sure you're aware of how hardware and software at test centers might affect your experience.Proctor assistance: During the normal course of the exam, candidates may find they need assistance from proctors.

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