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CFA Level 1 Details

CFA Level 1 Details

CFA Level 1 Details:- The CFA Institute is organized primarily to promote higher standards to practitioners in the investment industry. By not simply meeting minimum legal requirements, the CFA Institute and its members aim to increase public confidence and acceptance of the investment profession. Although today’s exam tests competence in many areas (including accounting, economics, quantitative methods, asset valuation, portfolio management and more), the core intent of the CFA Program and the CFA Institute is to promote the highest ethical standards among investment professionals.

Although only 15% of the exam focuses on ethics, this is single-handedly the most important topic on your upcoming exam. If your average score on other topics is close to the minimum passing score, your score on ethics-related questions is essential in determining whether you pass or fail.

The Code and Standards is designed to be relevant and constant over time; however, the CFA Institute periodically updates its principles to stay current with significant developments in investment management. The global financial crisis of 2008 triggered such a review. A new section entitled “Why Ethics Matters” was added to the 10th edition, which highlights that investment professionals need to be aware of how their actions impact the global economy and marketplace. Additionally, given the worldwide and diverse nature of today’s CFA Institute membership, the language and examples in the Handbook were clarified and simplified to improve understanding for all.

CFA Level 1 Details

The CFA Program includes a series of three exams; Levels I, II, and III. The exams:

  • Are offered annually — at test centers around the world — on the first Saturday in June. The Level I exam is also offered in December.
  • Must be passed sequentially.
  • Are available in English only.

The exam content, learning focus, and question format increase in complexity with each level.

Curriculum Content and Learning Focus

An example showing the increase in complexity is the ethical and professional standards curriculum content. This content is similar for each exam level; however, candidates are asked different types of questions:

  • Level I tests your knowledge of the ethical and professional standards.
  • Level II tests how you apply those standards to situations analysts face.
  • Level III tests how you apply the standards in a portfolio management and compliance context.

In general:

  • Level I exams consist of basic knowledge and comprehension questions focused on investment tools; some questions will require analysis.
  • Level II exams emphasize more complex analysis, along with a focus on valuing assets.
  • Level III exams require synthesis of all the concepts and analytical methods in a variety of applications for effective portfolio management and wealth planning.

CFA Level 1 Details

Structure: The Level I exam consists of 240 multiple choice questions, split among two 3-hour sessions. Candidates must attend both sessions.

  • Morning session (3 hours): 120 multiple choice questions, covering all topics
  • Afternoon session (3 hours): 120 multiple choice questions, covering all topics

Timing: On average you should allow approximately 90 seconds for each multiple choice question. You may need more or less time, depending on the question and how well you understand the topic.

CFA Level 1 Details- 2016 Exam Topics and Study Session Outlines

Ethical and Professional Standards
Exam Weight: 15%
Study Session 1 | Readings 1-4
Quantitative Methods
Exam Weight: 12%
Study Session 2
Study Session 3
Economics
Exam Weight: 10%
Study Session 4
Study Session 5
Study Session 6
Financial Reporting and Analysis
Exam Weight: 20%
Study Session 7
Study Session 8
Study Session 9
Study Session 10
Corporate Finance
Exam Weight: 7%
Study Session 11
Portfolio Management
Exam Weight: 7%
Study Session 12
Equity Investments
Exam Weight: 10%
Study Session 13
Study Session 14
Fixed Income
Exam Weight: 10%
Study Session 15
Study Session 16
Derivatives
Exam Weight: 5%
Study Session 17
Alternative Investments
Exam Weight: 4%
Study Session 18

CFA Level 1 Details- 2017 Exam Topics and Study Session Outlines

Ethical and Professional Standards
Exam Weight: 15%
Study Session 1 | Readings 1-5
Quantitative Methods
Exam Weight: 12%
Study Session 2
Study Session 3
Economics
Exam Weight: 10%
Study Session 4
Study Session 5
Financial Reporting and Analysis
Exam Weight: 20%
Study Session 6
Study Session 7
Study Session 8
Study Session 9
Corporate Finance
Exam Weight: 7%
Study Session 10
Study Session 11
Portfolio Management
Exam Weight: 7%
Study Session 12
Equity
Exam Weight: 10%
Study Session 13
Study Session 14
Fixed Income
Exam Weight: 10%
Study Session 15
Study Session 16
Derivatives
Exam Weight: 5%
Study Session 17
Alternative Investments
Exam Weight: 4%
Study Session 18

Best Recommended Read:- CFA Level 1 Syllabus and Subjects

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