Level I – Chartered Financial Analyst (CFA) – Exams in 2024

Overview of CFA level 1 Exam

The CFA Level 1 exam is an introduction to 10 broad topics of investment analysis and ethics, building a solid foundation of your finance knowledge for Level 2 and 3.

CFA exams are now computer-based, and CFA Level 1 exams are held 4 times a year in February, May, August and November.

CFA Level 1 exam format and structures

• CFA Level 1’s computer-based exam consists of 180 multiple-choice questions in total, split into two 2 hours and 15 minutes exam sessions with 90 questions each.

• On average, you should allocate 1.5 minutes (90 seconds) per question.

• There are 3 answer choices for each multiple choice question.

• 1st exam session (2 hours 15 min) covers 4 topics: Ethics, Quant Methods, Economics, and Financial Reporting and Analysis.

• 2nd session (2 hours 15 min) covers the remaining 6 topics: Corporate Finance, Equity, Fixed Income, Derivatives, Alternative Investments and Portfolio Management

• All questions are equally weighted and there are no penalties/negative marking for wrong answers.​

CFA Level I exam curriculum & topic weights

Ethics                                                      15-20%

Quantitative Methods                          6-9%

Economics                                              6-9%

Financial Reporting & Analysis           11-14%

Corporate Finance                                 6-9%

Equity Investments                                11-14%

Fixed income                                           11-14%

Derivatives                                               5-8%

Alternative Investments                        7-10%

Portfolio Management                          8-12%

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Frequently Asked Questions

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