CFA Level 1 | Know All About CFA Exam Level 1

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CFA Level 1 is the first stage of getting certified as a Chartered Financial Analyst (CFA). If you aspire for being CFA, you need to clear the CFA Level 1 Exam. In the following post, we would take a look at all the important information that you should know about the CFA Level 1 Exam

CFA Level 1 Exam Date

The first thing that you need to do is know about is the CFA Level 1 Exam Date. We would be talking about the dates for the 2018 December session. In the following table we have given the details of the CFA Level 1 Exam Date

Events Dates
LEVEL I Registration Dates December 2018 (August 22, 2018) June 2019 (October 10, 2018)
LEVEL II Registration Dates June 2019 (October 10, 2018)
LEVEL III Registration Dates June 2019 (October 10, 2018)
LEVEL I Exam Date Date to be announced for December 2018
LEVEL II Exam Date Date to be announced for December 2018
LEVEL III Exam Date Date to be announced for December 2018

As you can see, the exact date for CFA Level 1 Results  or for other levels are still not available. To get the latest updates on the CFA Result Date. Click on the link below:

CFA Exam Dates 2018

CFA Level 1 Exam – Eligibility

Let us now take a look at the eligibility details for CFA Level 1 Exam. To appear for CFA 2018, you need to fulfill the following criteria

The CFA  Course Eligibility is quite lenient. You just need to fulfill the following criteria:

  • Have a bachelor’s (or equivalent) degree, or be in the final year of your bachelor’s degree at the time of registration, or have four years of qualified, professional work experience or a combination of work/college experience that totals four years
  • Meet the professional conduct admission criteria
  • Can take the exams in English
  • Have a valid international travel passport

You can practically appear for CFA with almost any degree. However, graduates from the following streams stand to benefit the most in their career with the CFA Charter

  • Current MBA students/MBA aspirants
  • B Com / M Com students
  • CA aspirants/ CA qualified professionals
  • IT professionals

To get more details about the eligibility for CFA Level 1, click on the button  below:

CFA Eligibility Details 2018

CFA Level 1 – The Registration Process

Now, let us see how you can register for CFA Level 1 exam. The following are the steps that you need to go through to get CFA Level 1.

STEP 1: Choose the Exam

The first thing that you need to do is choose the exam. If you haven’t appeared for the exam before, you would need to go for CFA Level 1 Registration. If you have, then you need to go Level 2 Registration.

STEP 2: Address Details

Next, you would need to fill in your address details. You need to choose your country, region, and your complete address. You need to save the information that you need to enter and proceed to the next stage.

STEP 3: Choice of Exam Centre

CFA Exam is conducted in the following centres across the country.

  • Ahmedabad
  • Bangalore
  • Chennai
  • Hyderabad
  • Kolkata
  • Mumbai
  • New Delhi
  • Pune

You would get to choose one of the exam centres when going through  CFA Exam Registration. The exact location and address of the exam centre would be given to you around 1 month before the exam. You can change the exam centre before the last date for CFA Registration.

STEP 4: Filling Your International Passport Details

You would need to carry your international passport to the CFA Exam Centre. You need to fill in your passport details in your CFA Registration. You need to make sure that you enter the right details as they would be verified on the date of the exam at the centre.

STEP 5:  Filling in Other Important Information

After you have done that, you need to fill in other important information. You would need to fill in the following details:

  • Educational details
  • Employment status
  • Professional conduct history
  • Choice of format for exam preparation support
  • Choosing the local providers for exam preparation support

STEP 6: Paying the CFA Registration Fee

You would need to pay your CFA Registration Fee. If you have never appeared for the exam before, you need to pay the Program Enrollment Fee. This is a one-time fee to enter the series of CFA exams. The fee is $450 and is paid when you register for your first CFA Level 1 Registration. You can consider this your application fee since you have to pay this in order to apply for the CFA exam.

Next you need to pay the CFA Level 1 the exam. You would need to pay this, everytime you appear for the exam:

CFA Exam Registration CFA Exam Fees and Costs Sign up Deadline
Early Registration $650 8 – 9 months before exam
Standard Registration $930 3 –4 months before exam
Late Registration $1,380 < 3 months before exam

For complete details on the additional CFA Fees, click on the link below:

CFA Fees Details

Final Step: Confirmation

The last step of the process is reviewing the information and clicking on ‘Submit’. After that, you would get the confirmation. After a few days, you would receive your CFA Admit Card.

To get more details about the  CFA Registration, click on the link below:

CFA Registration – 2018

CFA Level 1 – Downloading the Admit Card

You need to download your CFA Admit Card to appear for CFA Level 1. To download your CFA Admit Card, you need to do the following.

Instructions to Download CFA Exam Ticket:

You need to follow these simple steps to download your CFA Exam Ticket

STEP 1: Click on the link  given here.

STEP 2:  You would be redirected to a page that would look like this

STEP 3: Enter your registered email ID and Password, which you entered while filling up your application form.

STEP 4:  You would get your CFA Admit Card. Check that the details mentioned on the ticket are correct. Once you are satisfied, click on ‘Download’

To get more information on your CFA Admit Card, click on the link below:

CFA Admit Card 2018

CFA Level 1 Exam Pattern

The following table gives the details of the CFA Exam Pattern for all levels

CFA EXAM
Level I Level II Level III
Morning Evening Morning Evening Morning Evening
No of Questions 120 120 60 60 12 10
Type MCQ MCQ 10 Set of Items 10 set of Items Essay Set of Items
Duration 6 Hours 6 Hours 6 Hours
Passing Score 70%* Above 70%* 50-70%* Approx.
Passing Rates 42%* 46%* 53%*

Note: * These numbers vary every year. This is just an approximation based on the historical data.

Details of the Exam Pattern

Let us first take a look at the CFA Level 1 Exam Pattern. This is the first examination that students will have to appear for. In level one, questions would be asked about the concepts and tools that are applied to investment management and valuation.

The CFA Level 1 exam is conducted in two sessions. Each of the sessions is 3 hours long. You would be required to appear for both the sessions. The CFA Level 1 Paper Pattern of 240 multiple-choice questions (MCQ) in two sessions of 120 questions each.

To get the details about CFA Level 1 Exam Pattern and the exam pattern for other levels, lick on the link below:

CFA Exam Pattern 2018

CFA Level 1 Syllabus

The next thing that you need to know about is the CFA Level 1 Syllabus. Here we would look at the CFA Level 1  subjects that you need to prepare for for CFA Level 1

Topic Percentage of marks Sub-topic
Financial reporting analysis 20 Financial reporting mechanics & Standards
Understanding income statements
Understanding balance sheet
Ethics 15  Standards of professional conduct
Global Investment Performance standard
Quantitative analysis 12 Time value of money
 Discounted cash flow applications
 Statistical concepts and market returns
Fixed income analysis 10 Fixed income securities
Fixed income markets
Introduction to fixed income valuation
Equity Investment 10 Market organization and structure
Security market indices
Market efficiency
Economics 10 Demand & supply analysis
The Firm & market structures
Aggregate output, Prices, Economic growth
Corporate finance 7 Capital budgeting
Cost of capital
Portfolio management and wealth planning 7 Portfolio management
Basics of portfolio planning and construction
Derivatives 5 Derivatives market and instruments
Basics of derivative pricing and valuation
Alternative investment 4 Mutual funds
Real Estate
Total 100

To know about the topics in the CFA Level 1 Syllabus in detail, click on the link below:

CFA Level 1 Syllabus

CFA Level 1 Results

Lets see how you can download your CFA Level 1 Results.

You’ll get your results to your e-mail. Just wait about 50 days if you took your level 1 or level 2 exam and add two more weeks for level 3 results.  It is expected that the CFA Level 1 Results for December 2018 would be available at the end of January. You would get an e-mail message will tell you whether you PASSED or FAILED. Also, you will learn about your performance for given topics relative to other exam takers. You can login to your CFA Institute account for more details

Understanding the MPS

The MPS or the Minimum Passing Score is the minimum marks that you need to score to pass the exam. In CFA Level 1 as well as other levels, you would have an MPS for each of the subjects. The email for the CFA Result that you would get would tell you whether you have cleared the CFA MPS or not. If you have scored higher than the MPS, you would have passed the CFA Level 1.

Different levels would have different MPS, even if the subjects are same. For example, the CFA Level 3 Result CFA would be different from the MPS for CFA Level 2 result. The CFA Institute doesn’t release the MPS. You would only know that that you have cleared the MPS, only if you have passed the exam.

These were the details of the CFA Level 1 Exam. To get information on the other levels, click on the link below:

CFA Course 2018