Chartered Financial Analyst Level 1

This is the first of three exams offered by the CFA Institute. This exam (in addition to other requirements) must be passed for an individual to become a CFA charter holder. The CFA program is a globally recognized standard for measuring the competence and integrity of financial analysts. Level 1 focuses on tools and concepts that apply to investment valuation and management.

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Exam Details

Time Limit: 6 hours
Cost: Varies
Number of Questions: 240
Passing Score: Varies Anually
Passing Rates: As of December 2012, 37%
Format: Multiple Choice
Prerequisites: Bachelor's degree or equivalent. An exemption can be made where you can write the level 1 if you a) are in the final year of your undergraduate program, b) have four years of professional experience, or c) have a combination of both, equating to at least four years.
Corequisites: Four years of qualifying work experience must be obtained.
Exam Date(s): June and December
Exam Results: Usually provided within 60 days
Offical Exam Website:

Exam Topic Weights

Frequently Asked Questions

  • 1. When must the required three years of qualifying work experience be completed in order to become a CFA chartholder?
    View Answer »
  • 2. Is there any difference between a Chartered Financial Analyst and a Certified Financial Analyst?
    View Answer »
  • 3. I am interested in pursuing the CFA charter, but I do not have a degree in business...
    View Answer »
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