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CFA Level I - Study Packages

The Level I curriculum sets the foundation but covers a lot of material - across ten topics split into over 90 learning modules.

Check out our comprehensive study package options which include everything needed to prepare and accomplish the goal of passing the exam.

Study Device Options

FAQ - Level I

The CFA Level I exam covers 10 topic areas:
Topic Weight Functional Area
Quantitative Methods 6 - 9% Tools
Economics 6 - 9%
Financial Statement Analysis 11 - 14%
Corporate Issuers 6 - 9% Portfolio Management and Analysis
Portfolio Management 8 - 12%
Equity Investments 11 - 14% Assets
Fixed Income 11 - 14%
Derivatives 5 - 8%
Alternative Investments 7 - 10%
Ethical and Professional Standards 15 - 20% Ethical and Professional Standards
Level I
300 hours recommended

According to a recent survey conducted by the CFA Institute the average study hours of CFA Level I candidates was 303 hours.

Level I

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.

Level I
The CFA Level I exam is conducted four times a year, during the following months:
  • February
  • May
  • August
  • November

For additional Level I exam dates see here or refer directly to the institute website: CFA Institute

Level I

The following outlines the registration deadlines for the scheduled upcoming CFA Level I exams:

Exam Sitting Registration Deadline Exam Dates
Feb 2023 Nov 8, 2022 Feb 14 - 20, 2023
May 2023 Jan 31, 2023 May 16 - 22, 2023
Aug 2023 May 9, 2023 Aug 22 - 28, 2023
Nov 2023 TBD TBD

For additional Level I exam dates see here or refer directly to the institute website: CFA Institute

Level I
As part of the enrollment process, there are specific requirements. To qualify, one of the following is needed:
  • Bachelor's Degree
  • Student in Final Year
  • Complete Professional Conduct Statement
Level I

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