{"id":21399,"date":"2018-07-27T12:15:08","date_gmt":"2018-07-27T17:15:08","guid":{"rendered":"http:\/\/www.kaptest.com\/blog\/prep\/?p=21399"},"modified":"2023-01-24T22:37:49","modified_gmt":"2023-01-24T22:37:49","slug":"what-is-the-cfa-level-i-exam","status":"publish","type":"post","link":"https:\/\/wpapp.kaptest.com\/study\/cfa\/what-is-the-cfa-level-i-exam\/","title":{"rendered":"What is the CFA\u00ae Level I Exam?"},"content":{"rendered":"<p>It\u2019s common to have questions about the Level I CFA\u00ae exam. This article will help answer some of the most common questions you may have about the exam and becoming a CFA charterholder.<\/p>\n<p><div  style='padding-bottom:10px; ' class='av-special-heading av-special-heading-h3    avia-builder-el-0  el_before_av_heading  avia-builder-el-first  '><h3 class='av-special-heading-tag '  itemprop=\"headline\"  >What is a CFA\u00ae charterholder?<\/h3><div class='special-heading-border'><div class='special-heading-inner-border' ><\/div><\/div><\/div><br \/>\nThe Chartered Financial Analyst\u00ae (CFA) charter is a professional designation administered by <a title=\"cfa\" href=\"https:\/\/www.cfainstitute.org\/\">CFA Institute<\/a>. It\u2019s the most respected and recognized investment management designation in the world, according to CFA Institute.<br \/>\n<div  style='padding-bottom:10px; ' class='av-special-heading av-special-heading-h3    avia-builder-el-1  el_after_av_heading  el_before_av_heading  '><h3 class='av-special-heading-tag '  itemprop=\"headline\"  >How do I become a CFA\u00ae charterholder?<\/h3><div class='special-heading-border'><div class='special-heading-inner-border' ><\/div><\/div><\/div><br \/>\nTo become a CFA charterholder, you are required to pass a series of three exams: Level I, <a title=\"cfa\" href=\"https:\/\/www.kaptest.com\/study\/uncategorized\/what-is-the-cfa-level-ii-exam\/\">Level II<\/a>, and <a title=\"cfa\" href=\"https:\/\/www.kaptest.com\/study\/cfa\/what-is-the-cfa-level-iii-exam\/\">Level III<\/a>.<br \/>\n<div  style='padding-bottom:10px; ' class='av-special-heading av-special-heading-h3    avia-builder-el-2  el_after_av_heading  el_before_av_heading  '><h3 class='av-special-heading-tag '  itemprop=\"headline\"  >Is the CFA\u00ae charter a college degree?<\/h3><div class='special-heading-border'><div class='special-heading-inner-border' ><\/div><\/div><\/div><br \/>\nThe CFA charter is not a degree, but rather a professional certification. It demonstrates understanding of advanced investment analysis and real-world portfolio management. What may lead to this common misunderstanding is that candidates will frequently weigh the benefits of the <a title=\"cfa\" href=\"https:\/\/www.schweser.com\/cfa\/blog\/career-information\/cfa-vs-mba-which-direction-is-right-for-me\">CFA charter against those of an MBA<\/a>.<br \/>\n<div  style='padding-bottom:10px; ' class='av-special-heading av-special-heading-h3    avia-builder-el-3  el_after_av_heading  el_before_av_heading  '><h3 class='av-special-heading-tag '  itemprop=\"headline\"  >What is the date of the Level I CFA\u00ae exam?<\/h3><div class='special-heading-border'><div class='special-heading-inner-border' ><\/div><\/div><\/div><br \/>\nThe Level I exam is the only CFA exam offered twice per year, once in June and once in December. The 2018 December Level I exam date is December 1, 2018. For June 2019, there are multiple dates, <a title=\"cfa\" href=\"https:\/\/www.schweser.com\/cfa\/blog\/become-a-cfa-charterholder\/june-cfa-exam-day-changing\">depending on the region you live in<\/a>.<br \/>\n<div  style='padding-bottom:10px; ' class='av-special-heading av-special-heading-h3    avia-builder-el-4  el_after_av_heading  el_before_av_heading  '><h3 class='av-special-heading-tag '  itemprop=\"headline\"  >What requirements do I need to meet to take the CFA\u00ae exam?<\/h3><div class='special-heading-border'><div class='special-heading-inner-border' ><\/div><\/div><\/div><br \/>\nIn order to enroll in the CFA Program and sit for the Level I exam, you must have an international travel passport. You must additionally satisfy one of the following requirements:<\/p>\n<ul>\n<li style=\"font-weight: 400;\">Have earned a bachelor\u2019s (or equivalent) degree, or be in their final year of a bachelor\u2019s program.<\/li>\n<li style=\"font-weight: 400;\">Have accumulated four years of applicable professional work experience (not required to be investment related).<\/li>\n<\/ul>\n<p>Another option is that you have a combination of full-time professional experience and education that totals a minimum of four years, and must be completed prior to enrolling in the program. <a title=\"cfa\" href=\"https:\/\/www.schweser.com\/cfa\/blog\/become-a-cfa-charterholder\/cfa-exam-requirements-how-to-qualify-to-sit-for-the-cfa-exams\">This article explains all the requirements in more detail.\u00a0<\/a><br \/>\n<div  style='padding-bottom:10px; ' class='av-special-heading av-special-heading-h3    avia-builder-el-5  el_after_av_heading  el_before_av_heading  '><h3 class='av-special-heading-tag '  itemprop=\"headline\"  >How is the Level I CFA\u00ae exam structured?<\/h3><div class='special-heading-border'><div class='special-heading-inner-border' ><\/div><\/div><\/div><br \/>\nThe Level I CFA exam consists of 240 multiple-choice questions, which is covered in two 3-hour exam sessions. You must attend both sessions, one in the morning and one in the afternoon. \u00a0Each session consists of 120 questions. Both sessions cover all of the Level I topics.<br \/>\n<div  style='padding-bottom:10px; ' class='av-special-heading av-special-heading-h3    avia-builder-el-6  el_after_av_heading  el_before_av_heading  '><h3 class='av-special-heading-tag '  itemprop=\"headline\"  >How is the Level I CFA\u00ae exam structured?<\/h3><div class='special-heading-border'><div class='special-heading-inner-border' ><\/div><\/div><\/div><br \/>\nThe December 2018 Level I CFA exam will cover the following topics:<\/p>\n<ul>\n<li style=\"font-weight: 400;\">Ethical and Professional Standards<\/li>\n<li style=\"font-weight: 400;\">Quantitative Methods<\/li>\n<li style=\"font-weight: 400;\">Economics<\/li>\n<li style=\"font-weight: 400;\">Financial Reporting and Analysis<\/li>\n<li style=\"font-weight: 400;\">Corporate Finance<\/li>\n<li style=\"font-weight: 400;\">Portfolio Management<\/li>\n<li style=\"font-weight: 400;\">Equity<\/li>\n<li style=\"font-weight: 400;\">Fixed Income<\/li>\n<li style=\"font-weight: 400;\">Derivatives<\/li>\n<li style=\"font-weight: 400;\">Alternative Investments<\/li>\n<\/ul>\n<p><div  style='padding-bottom:10px; ' class='av-special-heading av-special-heading-h3    avia-builder-el-7  el_after_av_heading  el_before_av_table  '><h3 class='av-special-heading-tag '  itemprop=\"headline\"  >How are the Level I CFA\u00ae exam topics weighted?<\/h3><div class='special-heading-border'><div class='special-heading-inner-border' ><\/div><\/div><\/div><br \/>\n<div class='avia-data-table-wrap avia_responsive_table'><table  class='avia-table avia-data-table avia-table-1  avia-builder-el-8  el_after_av_heading  el_before_av_heading  avia_pricing_default '  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/Table\" ><tbody><tr class='avia-heading-row'><th class=''>Topic<\/th><th class=''>Exam Weight<\/th><\/tr><tr class=''><td class=''>Ethical and Professional Standards<\/td><td class=''>15%<\/td><\/tr><tr class=''><td class=''>Quantitative Methods<\/td><td class=''>12%<\/td><\/tr><tr class=''><td class=''>Economics<\/td><td class=''>10%<\/td><\/tr><tr class=''><td class=''>Financial Reporting and Analysis<\/td><td class=''>20%<\/td><\/tr><tr class=''><td class=''>Corporate Finance<\/td><td class=''>7%<\/td><\/tr><tr class=''><td class=''>Portfolio Management<\/td><td class=''>7%<\/td><\/tr><tr class=''><td class=''>Equity<\/td><td class=''>10%<\/td><\/tr><tr class=''><td class=''>Fixed Income<\/td><td class=''>10%<\/td><\/tr><tr class=''><td class=''>Derivatives<\/td><td class=''>5%<\/td><\/tr><tr class=''><td class=''>Alternative Investments<\/td><td class=''>4%<\/td><\/tr><\/tbody><\/table><\/div><style type='text\/css'>.avia-table-1 td:nth-of-type(1):before { content: 'Topic'; } .avia-table-1 td:nth-of-type(2):before { content: 'Exam Weight'; } <\/style><br \/>\n<div  style='padding-bottom:10px; ' class='av-special-heading av-special-heading-h3    avia-builder-el-9  el_after_av_table  el_before_av_heading  '><h3 class='av-special-heading-tag '  itemprop=\"headline\"  >How much time should I spend studying for the Level I CFA\u00ae exam?<\/h3><div class='special-heading-border'><div class='special-heading-inner-border' ><\/div><\/div><\/div><br \/>\nOn average, candidates spend about 300 hours over the course of six months studying for the Level I CFA exam.<br \/>\n<div  style='padding-bottom:10px; ' class='av-special-heading av-special-heading-h3    avia-builder-el-10  el_after_av_heading  el_before_av_heading  '><h3 class='av-special-heading-tag '  itemprop=\"headline\"  >Is the Level I CFA\u00ae exam difficult?<\/h3><div class='special-heading-border'><div class='special-heading-inner-border' ><\/div><\/div><\/div><br \/>\nThe CFA exam is designed to be difficult because it is a very exclusive designation that is intended to prove understanding and mastery of the topics. The pass rate for the June 2017 Level I CFA exam was 43%. According to CFA Institute, only 20% of participants who start the program actually earn the charter. You can increase your odds of succeeding by <a title=\"cfa\" href=\"https:\/\/www.schweser.com\/cfa\/blog\/become-a-cfa-charterholder\/before-you-decide-to-sit-for-the-cfa-exam-advice-from-past-exam-takers-ebook\">learning from other candidates<\/a> and <a title=\"cfa\" href=\"https:\/\/www.schweser.com\/cfa\/level-1\/study-packages\">having the right study tools<\/a> like a CFA question of the day with <a href=\"https:\/\/www.kaplanquizzes.com\/cfa-level-1\/\">specific questions for the CFA level I<\/a>.<br \/>\n<div  style='padding-bottom:10px; ' class='av-special-heading av-special-heading-h3    avia-builder-el-11  el_after_av_heading  avia-builder-el-last  '><h3 class='av-special-heading-tag '  itemprop=\"headline\"  >How expensive is it to sit for the Level I CFA\u00ae exam?<\/h3><div class='special-heading-border'><div class='special-heading-inner-border' ><\/div><\/div><\/div><br \/>\nCFA Institute has early, standard, and late registration deadlines, and the price increases the later you register. There is a one-time CFA Program enrollment fee of $450. In addition, there is a registration fee. The early registration fee is $650; the standard registration fee is $950; and the late registration fee is $1,380. Registering early will not only save you money that you can invest in a <a title=\"cfa\" href=\"https:\/\/www.schweser.com\/cfa\">CFA exam prep course<\/a>, but it will also allow you to begin preparing earlier.<br \/>\nNow that you have a basic understanding of the common questions you may have regarding the Level I CFA exam, you can learn <a title=\"cfa\" href=\"https:\/\/www.schweser.com\/cfa\/blog\/become-a-cfa-charterholder\/5-reasons-to-become-a-cfa-charterholder\">why it is such a respected and impressive designation<\/a>. As always, if you have more questions about the Level I CFA exam, or any other topic, don\u2019t hesitate to contact our <a title=\"cfa\" href=\"https:\/\/www.schweser.com\/contact-us\">Student Support team<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It\u2019s common to have questions about the Level I CFA\u00ae exam. This article will help answer some of the most common questions you may have about the exam and becoming a CFA charterholder. The Chartered Financial Analyst\u00ae (CFA) charter is a professional designation administered by CFA Institute. It\u2019s the most respected and recognized investment management [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":28326,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[424],"tags":[425],"_links":{"self":[{"href":"https:\/\/wpapp.kaptest.com\/study\/wp-json\/wp\/v2\/posts\/21399"}],"collection":[{"href":"https:\/\/wpapp.kaptest.com\/study\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wpapp.kaptest.com\/study\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wpapp.kaptest.com\/study\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/wpapp.kaptest.com\/study\/wp-json\/wp\/v2\/comments?post=21399"}],"version-history":[{"count":2,"href":"https:\/\/wpapp.kaptest.com\/study\/wp-json\/wp\/v2\/posts\/21399\/revisions"}],"predecessor-version":[{"id":42303,"href":"https:\/\/wpapp.kaptest.com\/study\/wp-json\/wp\/v2\/posts\/21399\/revisions\/42303"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wpapp.kaptest.com\/study\/wp-json\/wp\/v2\/media\/28326"}],"wp:attachment":[{"href":"https:\/\/wpapp.kaptest.com\/study\/wp-json\/wp\/v2\/media?parent=21399"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wpapp.kaptest.com\/study\/wp-json\/wp\/v2\/categories?post=21399"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wpapp.kaptest.com\/study\/wp-json\/wp\/v2\/tags?post=21399"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}