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CFA Level 1 study materials, CFA exam preparation checklist, CFA Level 1 study plan breakdown
👤 NorthStar Academy📅 31 Jul, 24⏱ 16 min read

Ultimate CFA Level 1 Exam Preparation Guide for 2027

The CFA Level I Exam, offered by the CFA Institute, is the first step in the CFA program toward becoming a Chartered Financial Analyst. Covering financial reporting, portfolio management, and alternative investments, the exam consists of multiple-choice questions split into 2 sessions with an optional break.

Candidates must follow the CFA curriculum, develop practical skills, and complete exam preparation with mock exams and a study plan to pass each level of the CFA exam. The CFA Level 1 exam requires 300 hours of study, while Level II and Level III introduce item sets and constructed response questions.

Successful candidates earn the CFA charter, advancing careers in investment professionals, financial analysis, and portfolio management. Prepare for the 2025 Level 1 exam with expert exam prep, mock tests, and structured CFA test training. Start today and achieve your career goals!

CFA exam and guide

CFA is a finance course that trains students in various areas. Below are the subjects you'll need to study for this course for the best CFA mastery in ethical and professional standards:

  • Finance

  • Financial statement analysis

  • Portfolio Management

  • Ethics

  • Derivative

  • Economics

  • Fixed Income

  • Quantitative Methods

  • Corporate Issuers

  • Asset Allocation

  • Corporate Finance

  • Equity Investments

  • Alternative Investments

You must study all of these topics as part of the extensive CFA syllabus. So, make sure you choose the right course and study resources to better understand them.

 CFA Eligibility: What Are the Requirements You Must Meet?

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CFA Syllabus

CFA is a finance course that trains students in various areas. Below are the subjects you'll need to study for this course for the best CFA mastery in ethical and professional standards:

  • Finance
  • Financial statement analysis
  • Portfolio Management
  • Ethics
  • Derivative
  • Economics
  • Fixed Income
  • Quantitative Methods
  • Corporate Issuers
  • Asset Allocation
  • Corporate Finance
  • Equity Investments
  • Alternative Investments

You must study all of these topics as part of the extensive CFA syllabus. So, make sure you choose the right course and study resources to better understand them.

CFA Eligibility: What Are the Requirements You Must Know

To gain this prominent designation, candidates need to pass the CFA exam. This exam has three levels. These are:

  • CFA Level 1

  • CFA Level 2

  • CFA Level 3

To successfully complete the course and become a CFA, you must pass all three levels. The CFA course duration is approximately 1.5 years, during which time you must complete the course and obtain the certification.

The following are the students CFA eligibility criteria:

  • Candidates must have their graduation degree in hand or be in their last year.

  • Four years of minimum working experience are mandatory.

  • Students must have a minimum of four years of professional and knowledge experience.

The CFA Examination has three levels and study hours.

The CFA examination has three levels. The subjects get more critical and advanced with each passing level.

Below is a table that clearly breaks down the differences between all three levels and what they comprise:

Points of Distinction

Level I

Level II

Level III

Level Requirement

Meet the CFA course enrollment requirements.

Pass level 1 and meet CFA course enrollment requirements.

Clear the level II CFA exam and fulfill the CFA course enrollment requirements.

Questions Format

Multiple-choice questions

Vignette-supported multiple-choice questions

Vignette-supported essay questions and multiple-choice questions

Exam Results Availability

Once you've taken the exam and completed the Practical Skills Module,

After 5-7 weeks of taking the exam and completing your Practical Skills Module,

After 6-8 weeks from the exam 

Approximate Duration

2 135-minute sessions. 

4 hours, 24 minutes. It consists of two different sections lasting 2 hours and 12 minutes.

4 hours, 24 minutes. It consists of two different sections lasting 2 hours and 12 minutes.

The CFA Institute recommends an average of 300 hours of study per exam level for the CFA program.

How much are the CFA exam course fees?

The CFA course fees can vary depending on when you register. You must make all fee payments in US dollars. Here is an approximate range of CFA course fees: 

  • Early registration fees

If you register early, you will have to pay USD 940. This fee is applicable for all three examination levels.

  • Standard registration fees

The standard registration fee will be around USD 1250. It also applies to all three levels of the exam.

  • One-Time Enrollment Fees

Excluding the above costs, you need to pay USD 350 to enroll in the program and its first level. This fee will not be applicable to the other two consecutive levels.

  • Rescheduling Fees

If the exam is rescheduled within the exam window, you will be required to pay a sum of USD 250.

You can check out the different payment methods the CFA Institute offers.


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Taking up best CFA Course in India: What You Need to Know

To become a CFA charter holder, you must pass the CFA Level I CFA exam, followed by Levels II and III, as part of the CFA Program offered by the CFA Institute. The exam format consists of multiple-choice questions covering financial statement analysis, portfolio and risk management, basic derivatives and derivative markets, and ethics and professionalism. The actual exam is split into 2 sessions with an optional break between sessions.

Candidates must gain experience in investment management, financial analysis, or as research analysts, submit references, and apply for CFA certification. To prepare for the CFA, use study guides, practice exams, and study tools from a CFA course or prep company.

With the right study tips, time to prepare, and practical skills modules, you can develop foundational knowledge, analytical abilities, and gain comprehensive insights into the CFA. The exam guide covers key topics like portfolio planning and construction, financial analysis and investment, individual and institutional investors, fundamental concepts of supply, and govern financial reporting disclosures.

If needed, you can also submit suspected errors. The 2027 Level exam is your chance to advance in finance and become a Chartered Financial Analyst. Start taking the CFA exam today pass the exam with the right preparation!

Chartered Financial Analyst: Tools, Resources, Study Materials & Mock test

If you want to study well, measure your performance, and improve your weaker areas before you sit for the CFA exams, creating a study plan and having access to the best study materials are essential. You can prepare for the CFA exams through various methods.

  • The CFA Institute Website is the most valid resource from which you can get CFA course details, practice questions, mock papers, registration tools, and study materials to get ready for the CFA exams. All students who have registered for the CFA course can access these offerings for free.

  • Kaplan Schweder: Kaplan Schweder offers core study tools for students, helping them to prepare for the CFA exams. They offer question banks, quizzes, a resource library, and e-books that cover all three levels of the exam. You can also analyze your performance and compare it with that of other candidates on the platform.

  • 300 Hours: You can get access to the CFA mock exams and online practice questions for all 3 levels that are similar to the actual examination. To can check out the top tips for passing all three exam levels to maximize your chances of passing the exams on the first attempt.

  • U World is a digital learning platform that provides practice questions to help you pass the CFA exam. The practice questions contain detailed explanations to help you prepare well for the exams. You can also make notes on the well-reviewed study materials.

  • Salt Solutions: Salt Solutions offers students free access to mock papers for all three levels of the CFA exam. Their detailed videos, recorded lectures, and study notes allow you to learn and study at your convenience during flexible hours.

  • Digital Communities and Forums: Look for online communities or forums where you can communicate with other CFA candidates. These online groups offer a convenient way to clarify your doubts, seek support, and share your experiences with different people.

You can find CFA exam mock tests and practice papers on the CFA Institute's official website, various prep providers like Kaplan Schweser and Wiley, and forums like Analyst Forum.

CFA Program Jobs 

Numerous sectors value the expertise of CFA professionals. After obtaining this certification, you can gain employment in:

  • Trade

  • Hedge Funds

  • Capital Markets

  • Risk Management

  • Wealth Management

  • Assets Management

  • Portfolio Management

  • Quantitative analytics

  • Investment banking M&A

  • Corporate Banking Company

  • Financial Planning

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Conclusion

The CFA Level I exam is challenging, but with the right prep course and study tools, you can pass the CFA and advance in investment management. A structured CFA program from a trusted prep company provides access to exam guides, practice exams, and financial analysis training.

The exam format consists of 2 sessions with an optional break between sessions and covers financial statement analysis, portfolio and risk management, basic derivatives and derivative markets, and ethics and professionalism. Offered by the CFA Institute, the Chartered Financial Analyst certification requires passing all levels, gaining experience in asset management, research analysis, or related fields, and submitting references.

For the 2025 Level I CFA, use study guides, follow a level I curriculum, and take CFA exam study practice tests to gain comprehensive insights into the CFA. Strengthen foundational knowledge, develop analytical abilities, and understand financial analysis and investment, portfolio planning and construction, and govern financial reporting disclosures.

With proper study tips, time to prepare, and access to practical skills modules, you can succeed in becoming a CFA. Take advantage of entirely free resources and start your journey toward the CFA charter holder status today!

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Frequently Asked Questions

What is the course of CFA?

India and other nations highly value the CFA certification. Pursuing this course helps you build your knowledge and skills related to finance and investment.

Is the CFA difficult to pass?

The CFA exam is truly a difficult one. However, to ensure success, you must

Study for more than 300 hours.

    Start your preparation for the exam way before the day
    Use the right study materials.
    Create a study plan and abide by it.
    Set goals and meet them.
    Enroll in courses offered by top institutes such as NorthStar Academy.