CFA Level I - Mock Exams
The Level I curriculum sets the foundation but covers a lot of material - across ten topics split into over 90 learning modules.
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FAQ - Level I
| Topic | Weight | Functional Area |
|---|---|---|
| Quantitative Methods | 6 - 9% | Tools |
| Economics | 6 - 9% | |
| Corporate Issuers | 6 - 9% | |
| Financial Statement Analysis | 11 - 14% | |
| Equity Investments | 11 - 14% | Assets |
| Fixed Income | 11 - 14% | |
| Derivatives | 5 - 8% | |
| Alternative Investments | 7 - 10% | |
| Portfolio Management | 8 - 12% | Portfolio Management and Analysis |
| Ethical & Professional Standards | 15 - 20% | Ethical and Professional Standards |
According to a recent survey conducted by the CFA Institute the average study hours of CFA Level I candidates was 303 hours.
As of 2021, the CFA Institute transitioned to a computer-based format for the Level I exam.
It continues to be a multiple choice (three-option) format, which consists of 180 multiple choice questions split between two 2 hour & 15-minute sessions. The sessions are split by an optional 30-minute break.
- First session (90 questions) covers ethics & professional standards, quantitative methods, economics, and financial statement analysis
- Second session (90 questions) covers corporate issuers, equity, fixed income, derivatives, alternative investments and portfolio management
Overall this gives candidates an average of 90 seconds to answer each question. Candidates are not penalized for incorrect answers.
The exam is conducted in english language only.
- February
- May
- August
- November
For additional Level I exam dates see here or refer directly to the institute website: CFA Institute
The following outlines the registration deadlines for the scheduled upcoming CFA Level I exams:
| Exam Sitting | Registration Deadline | Exam Dates |
|---|---|---|
| Feb 2026 | Oct 29, 2025 | Feb 2 - 8, 2026 |
| May 2026 | Feb 12, 2026 | May 12 - 18, 2026 |
| Aug 2026 | TBD | Aug 18 - 24, 2026 |
| Nov 2026 | TBD | Nov 11 - 17, 2026 |
For additional Level I exam dates see here or refer directly to the institute website: CFA Institute
- Bachelor's Degree
- Student in Final Year
- Complete Professional Conduct Statement
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