The Chartered Financial Analyst (CFA) credential is awarded to finance and investment professionals worldwide, representing a significant achievement in the profession. It is a top-level international qualification that recognises its financial training as one of the highest levels of professional experience. Candidates who complete the CFA Program and meet other requirements are awarded the CFA charter. Let's take a closer look at what to expect on the Level 1 CFA exam!
What is the CFA Level 1 Exam?
- The CFA program requires candidates to take the following exams: CFA Level 1, Level 2, and Level 3.
- The CFA Institute says that you should spend at least 300 hours of study to pass all exams.
- Each level builds upon the previous. It gets harder and more complex as you progress through each level.
CFA Level 1: Exam Structure & Format
- The CFA Level 1 exam is taken in one day and split into two sessions—morning and afternoon.
- Each exam session (2) is 135 minutes long.
- The exam comprises of 180 multiple-choice questions.
- Each level 1 multiple-choice question is either a question plus statement or a question plus table.
- There are three choices for each multiple-choice question: A, B, and C.
- There are two basic formats used on the multiple-choice questions: sentence completion with three unique choices and questions with three unique choices.
CFA Level 1: Exam Topic Areas & Weights
CFA Level 1: Requirements of the Exam
To become a CFA charter-holder and sit for the Level 1 CFA exam, candidates must meet one of the following requirements of the CFA Institute:
- Hold a bachelor’s degree or be completing the final year of a bachelor’s degree
- Have at least 4 years of full-time professional work experience
- Possess a combination of education and work experience that totals at least 4 years
When Is the 2022 CFA Level 1 Exam Offered?
In recent years, the CFA has transitioned the Level 1 Exam to computer-based testing. This online shift has given candidates an increasing range of testing venues and greater flexibility when scheduling their exams.
Exams are offered in over 400 centres around the globe. Test centre options with confirmed available seating will be presented to you during the scheduling process.
Where Do I Take the Exam?
Exams are offered in over 400 centres around the globe. Test centre options with confirmed available seating will be presented to you during the scheduling process.
