CFA Level I is your starting point on the journey to the prestigious CFA charter as a Chartered Financial Analyst. The exam helps you develop essential investment knowledge and strong ethical principles valued across the global finance industry. Successfully passing it opens the door to Level II and brings you one step closer to becoming a certified investment professional.

The CFA Level I exam is conducted in two sessions — morning and afternoon — each lasting approximately two hours. In total, candidates complete 180 multiple-choice questions, with 90 questions in each session. The exam covers ten major topic areas across investment and financial analysis.

Session 1:

1. Ethical and Professional Standards – 15-20%
2. Quantitative Methods – 6-9%
3. Economics – 6-9%
4. Financial Statement Analysis – 11-14%

Session 2:

1. Corporate Issuers – 6-9%
2. Equity Investments – 11-14%
3. Fixed Income – 11-14%
4. Derivatives – 5-8%
5. Alternative Investments – 7-10%
6. Portfolio Management – 8-12%

Compared to 2025 curriculum, the major change is in the Ethics: some standards have been updated (for example, conflicts of interest, client disclosures), which means you’ll find some new case-style questions.

CFA Level I exam is widely considered challenging but fair for candidates who prepare thoroughly. Its difficulty comes largely from the breadth of material, as the exam covers ten topic areas rather than focusing on only a few subjects.

Many questions test your ability to apply concepts instead of simply recalling information, and candidates must maintain a steady pace to complete 180 questions in approximately four hours. Sections such as Ethics and Financial Statement Analysis often distinguish stronger candidates from the rest.

With structured preparation, consistent practice using mock exams and question banks, and a well-planned study schedule, candidates can significantly improve their chances of success.

1. Understand the syllabus and topic weights. Focus heavier time on areas like Ethics, FSA, Equity, and Fixed Income.
2. Use a reliable question bank. Practise hundreds of MCQs by topic.
3. Take full-length timed mock exams. Get accustomed to the duration and pacing.
4. Review your results. Identify weak areas and revisit them specifically.
5. Consistent schedule. Study daily, not just in long bursts. Even small regular sessions add up.

If you’re using our CFA question bank or mock test simulator track your performance by topic. You’ll quickly see which areas need deeper review.