Also, 3 topics may be regarded as relatively easy. However, topic difficulty is always a subjective criterion. The 10 topics are all covered in 6 books of the level 1 curriculum. The topics content is further divided into smaller portions: topics study sessions readings.
Overall, level 1 curriculum is roughly pages long. As a rule, the CFA exam curriculum changes from year to year. However, due to the COVID pandemic and unprecedented exam postponements, the curriculum will also apply to all level 1 exams held in A new curriculum is expected for CFA exams. To organize your long and tough exam prep, you'll want to have a study plan with deadlines for topics and — ideally — also for readings, best if arranged weekly.
This way you get a controllable and manageable study plan you can systematically follow. We explain more below.
In , level 1 CFA exam will consist of two sessions taken the same day with an optional break meanwhile. Each session will include 90 multiple-choice a-b-c questions. What is important here is that you'll have 1. Also, we distinguish 3 types of level 1 questions: theory, computing, and reasoning questions. Theory questions mean you'll need to show your knowledge of different financial concepts and their definitions, as well as of various models, theorems, or principles.
Computing questions will require competence in using your financial calculator and doing the math. Reasoning questions demand the ability to see relations between concepts, associate things, and think logically. You will be provided with writing tools such as an erasable writing tablet. It is common knowledge that you need approximately study hours to get prepared for your level 1 CFA exam. Take 5 months of prep, for example.
It gives you an average of 60 hours per month, i. It is hard to control hours or even 60 hours. But 15 hours a week? That you can control! So, break down those hours to smaller study times you can easily control and manage from week to week of your exam prep. Otherwise, procrastination may seriously endanger your CFA exam preparation. It is too easy to postpone, especially if the consequences are delayed into the future.
Many people choose to overlook these consequences in favor of immediate gains such as a night with a movie instead of curriculum. But, in the end, they end up with too many readings piled up and impossible to cover before their exam. That is why you need to constantly maintain your motivation to study week by week. What it means is that the effective pass rate is even lower! Procrastination and lack of motivation are also a problem when it comes to revision.
The majority of candidates put off reviewing the study material until last weeks before the exam, which is a huge mistake. Benchmark study times for weeks and readings and a proper review system in place make it is easier to stay motivated and hold tight to the benchmarks and recommendations, and then to pass the exam. If you're looking for some free CFA exam study materials to help you understand your CFA Program curriculum, here's a bunch of blog posts explaining some issues.
Apart from theory, you'll also find there some exam-type questions. Also, we've got some free videos for you. We suggest you use them twice. First — to get familiar with the most important concepts before you dive into your books. As a level 1 candidate, you also need to know all CFA exam rules and regulations.
There are many but your failure to be in compliance may result in your inability to take the exam, voiding your level 1 CFA exam result or even suspension in the CFA Program. Analytics help us understand how the site is used, and which pages are the most popular. Read the Privacy Policy to learn how this information is used. The Level I computer-based exam consists of multiple choice questions, split between two minute sessions session times are approximate.
There is an optional break between sessions. Candidates must take both sessions in order to receive an exam result. Timing: On average, you should allow approximately 90 seconds for each multiple choice question.
You may need more or less time, depending on the question and how well you understand the topic. The best way to study for the CFA Level I Exam is to follow the CFA program curriculum and give yourself enough time to learn the material in your ideal learning style. Here are some resources candidates have listed as being most helpful for their exam preparation:. One of the most important ways to prepare for the CFA Level I exam is to give yourself enough time to study.
The CFA Program enables candidates to customize their preparation to match individual needs and circumstances. The exam covers the following 10 topic areas:. Get answers from students and experts Ask. Thank You! You have been successfully subscribed for Exam Updates. The question have been saved in answer later, you can access it from your profile anytime. Access now. Report Question.
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