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CFA Level-1

Overview of the Subjects Covered Under CFA Level 1 

Recently, with effect from 2021, the CFA level 1 exam format has been changed from paper-based examination to computer-based exam. The Chartered Financial Analyst Institute will now conduct the CFA level 1 exam in four sittings - February, May, August and November.

The major subjects included under the CFA level 1 exam are -

Each subject carries a different weightage in the exam. Candidates should have clarity in all the CFA level 1 subject areas and devote proper time to qualify the CFA® Level 1 exam.

The Chartered Financial Analyst Institute made significant changes in the number of questions asked as well as the exam duration. In the CFA level 1 exams for 2023 session, the exam will be conducted into two sessions of 2 hours and 15 minutes each. All candidates will have to solve 180 multiple-choice questions (90 MCQs in each session). All the CFA level 1 questions will carry equal weightage and will be based on the 10 topics mentioned in the above table. As per the CFA level 1 exam pattern 2023, there will be no negative marking/ penalties for wrong answers in the exam.

To qualify, CFA level 1 study material provided by the institute should be referred to. As per the CFA level 1 results of previous year, the pass rate for the February 2022 exam was 38%.

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