The final paper-based Level I exam will be held in December 2020. The paper-based exam is 6 hours long, split into a morning and afternoon session. At Level I you will be given 240 multiple choice questions (3 answer choices), spanning across the different topic areas.
From 2021, the Level I exam will move to computer-based testing with four available testing windows in each year i.e. February, May, August and November. The duration of the exam will be approximately 4.5 hours, split into two sessions with an optional break if candidates so wish. Each session will contain approximately 90 multiple choice questions with three answer options from which to choose. The exam will cover all ten topics in the Level I curriculum.
Level I teaches the foundations of finance with a significant emphasis on the analytical tools.
The ten different topic areas are as follows:
- Ethical And Professional Standards
- Quantitative Methods
- Financial Reporting & Analysis
- Corporate Finance
- Equity Investments
- Fixed Income
- Alternative Investments
- Portfolio Management
Registering for the Level I exam has many benefits, some more tangible than others:
- Globally highly regarded program
- Broad curriculum gives you exposure to many different topic areas
- Provides you with advanced financial analysis skills
- Shows dedication to the profession
- Career recognition
- Highlights your commitment to high standards of ethics
- Allows you to network with fellow candidates and charterholders
- Might be used for regulatory purposes (in the UK, Level I in combination with the IMC exam gets you RDR qualified).
In order to enrol on the Program you need:
- a bachelor’s degree (or equivalent) OR
- to be in the final year of a degree programme OR
- to have four years of professional work experience OR
- to have a combination of university and work that totals four years
You must also sign a statement of professional conduct, pay the exam fees to CFA Institute and be in possession of a valid international passport.
Furthermore, if you come from a non-financial background, consider taking our introductory financial maths or accounting course before you start your studies.