CFA Level 1 Course Comprehensive Guide

CFA, or chartered financial analyst program is considered the gold standard in investment banking qualification, with over 190,000 charterholders in over 165 countries. As more students are looking to enroll in the CFA certification, this number is continuously growing. There are three levels of the CFA, but you don’t need to qualify for all these papers to get a job. Every level in CFA is finished on its own and provides you with the ability to look for work opportunities. The CFA Level 1 syllabus provides a comprehensive education in finance and investments to students. The knowledge and abilities specific to the industry are highly valued. 

Students aspiring to grow their careers in the finance domain should consider taking the CFA courses. To show you how to move on to the CFA Level 1 learning journey, here are the complex details of the course.

CFA Level 1 Exam: What Is It?

The CFA Level 1 Exam includes 180 multiple-choice questions in two 135-minute sessions. There is an optional intermission in between sessions. To find out their exam result, candidates need to attend both sessions.

In the first session, which lasted two hours and fifteen minutes, there were ninety multiple-choice questions covering economics, mathematical techniques, ethics and professional standards, and financial reporting and analysis.

In the second session (2 hours, 15 minutes), there were 90 multiple-choice questions covering corporate finance, equities, fixed income, derivatives, alternative investments, and portfolio management.

CFA Level 1 Exam Qualifications

To register for this exam, which is the first stage in the CFA course, candidates need to fulfill the first level’s qualifying requirements. The following are eligibility criteria that must be met to be eligible for CFA Level 1:

In addition to individuals who are in their last year of graduation, the candidate must have finished their undergraduate degree.

Four years of work experience in a finance-related professional profile, or four years overall from their job and university education.

More than two reference letters from reputable and experienced people in the finance and investment business are required to be submitted by the candidate.

CFA Level 1 Duration 

According to the CFA Institute, the organization that administers the exams, it typically takes a candidate at least four years to be eligible for each of the three CFA program levels. The institute states that for each of the three levels, a preparation period of 300+ hours is optimal.

CFA Course Syllabus

As the first of three levels in the CFA program, level 1 covers a lot of foundational material, such as investment analysis and ethics, which will prepare you for success in the subsequent two levels. 

The CFA Institute provides the study materials, which you can obtain upon payment of the program fees. 

There are eighteen self-study sessions in the CFA level 1 exam course syllabus. There are example questions in these sessions as well. Twelve weeks before the CFA level 1 test, two sample question papers are released by the CFA Institute. It is highly advised that you commit certain formulas and calculative aspects, such as exponents, square roots, present and future values, and annuity payments, to memory to do well on your exams. 

CFA Salary 

A CFA often earns an average median of $165,000 yearly.  If you have sufficient portfolio and wealth management experience, you might also work toward becoming a hedge fund manager, increasing  your pay.

The benefits of becoming a CFA are numerous. A CFA can investigate several prospects abroad, like in the US, UK, Singapore, Hong Kong, and UAE, in addition to working in India. The Big Four (KPMG, Deloitte, EY, and PwC) and foreign firms like Goldman Sachs and Morgan Stanley coexist with Indian firms like Motilal Oswal and ICICI Securities. 

Level 1 CFA Exam Structure

There will be four hours and thirty minutes in the CFA Level 1 exam. Every exam session will last two hours and fifteen minutes because there will be two of them. The applicants must respond to multiple-choice questions (MCQs) in each of the exam sections. Negative marks are absent. 

To appear in the CFA level 1 exam, candidates must first complete the registration and fee submission processes for the exam.

CFA Fees

The CFA enrollment price is USD 350, and it must be paid at the beginning of the procedure. You have to pay an exam fee after enrolling to register for each exam (levels 1, 2, and 3). Each exam has the early registration fee of USD 990 and the regular fees is USD 1250.  

CFA Level 1 Course Job Opportunities 

The CFA program has international recognition. Following the course, CFA candidates can find employment opportunities in a variety of fields, including portfolio management, analysis, consulting, and private wealth. Globally, CFA Level 1 candidates can find employment as investment bankers, risk managers, portfolio managers, and market research analysts, to name a few. 

Taking it step by step is the best strategy to successfully obtain the CFA credential. Prioritize learning the specifics of the CFA Level 1 course and becoming ready for the CFA exam. 

After finishing the CFA Level 1 course, proceed to the next one. It will be easier to finish the course quickly and with less stress if you go level by level. 

Frequently Asked Questions (FAQs)

Q: Is CFA Level 1 difficult?

Ans: Exams for CFAs are not simple, and Level 1 is only the beginning. CFA Level 1 is often regarded as one of the hardest tests in the world; it starts harder than a diploma level.

Q: What is included in CFA Level 1?

Ans: The CFA Level 1 Course includes 180 multiple-choice questions, divided into two sessions of 135 minutes each (session times are approximate). The interval between sessions is optional. To find out their exam result, candidates need to attend both sessions.

Q: How much time does the the CFA Level 1 study require?

Ans: A successful Level I candidate studies for the test for about 300 hours. The recommended course of action is to give yourself at least four months, or roughly seventeen weeks, to complete the readings.