Your greatest investment in the Approved financial analyst (CFA) The charter is your time, so spend it effectively. The CFA Institute, which administers the exam, suggests taking around 300 hours of preparation time for level I.
The time necessary to study for the examination can be higher for those who have poor training in matters and less for those who have solid experience in the subjects that the CFA program covers. As a guide for a study plan, let us use this estimate of 300 hours of reading and hours of practice as a reference.
Main to remember
- Passing the CFA level I review, which has had a 40%success rate, requires a series of a solid study plan.
- Successful level I candidates spend more than 300 hours preparing for an average exam.
- The best strategy is to leave at least four months to finish all the reading equipment.
- Do not neglect the end of chapter questions. They will help reveal weak points.
- Authorize four weeks before the exam date to examine the questions and have practice sessions, while putting aside at least one day to simulate examination conditions at home.
Reading material
THE CFA Level I examination Covers 10 subjects with different weights on the exam and each subject has its own sub-sections. A good way to manage your study time is to allocate study time according to the weight of each subject. There are 93 learning modules on CFA Examination of level I 2025.
The table below summarizes the distribution of 300 hours of reading in the various areas of the exam. It is often preferable to leave at least four months for readings and the last month for revision and practice. If you read two hours a day during the week and eight hours on weekends, it will take around 17 weeks (four months) to finish all readings.
Non-working weekends and days are the best time to study for the CFA exam. During the week, you will probably not have time to practice questions, in addition to end -of -chapter questions. Therefore, plan to spend two to four overtime during the weekend on practice issues. Remember that the more you train, the more your chances of succeeding on exam.
Important
You cannot add the CFA designation after your name until you have passed the three exams and won the status of CFA charter.
End of chapter questions
Do not forget the end -of -chapter questions and always note your results to follow your progress. The end -of -chapter questions will give you an overview of the areas tested on the exam, so you can be more focused on these areas. In addition, these questions will reveal the weakest areas that you need to focus on to improve.
The following table summarizes the best way to allocate your study time to the various CFA exams if you were to give yourself about 300 hours and four months (120 days) to study. Use this table as a reference and personalize your study routine according to your situation.
| CFA Level I Examin Topic | |||
|---|---|---|---|
| Domain | Weight | Hours based on a 300 -hour calendar | Days to allocate |
| Ethical and professional standards | 15% to 20% | 50 | 20 days |
| Quantitative methods | 6% -9% | 22 | 9 days |
| Economy | 6% -9% | 22 | 9 days |
| Financial state analysis | 11% -14% | 37 | 15 days |
| Business transmitters | 6% -9% | 22 | 9 days |
| Portfolio management | 8% -12% | 30 | 12 days |
| Equity investments | 11% -14% | 37 | 15 days |
| Fixed income | 11% -14% | 37 | 15 days |
| Derivatives | 5% to 8% | 19 | 7 days |
| Alternative investments | 7% -10% | 24 | 9 days |
| Total | 100% | 300 | 120 days |
The last four weeks
After decades of paper exams, the CFA exams have changed for computer tests. The level I examination is offered in February, May, August and November while level II exam can be written in May, August or November. Level III candidates go to the exam in February and August.
Taking these dates into account, allow yourself four weeks before the exam date to examine the questions and have practice sessions. During this period, you must practice more intensively than in previous periods. The CFA Institute will give you simulated exams.
It is recommended to book at least one day to simulate exam conditions at home with the simulated test. Two sessions of 2.25 hours with an optional break between the two are advised to reflect the calendar and the computer examination structure. The simulated examination will help you be well prepared physiologically for the exam.
Note
It may also be useful to take a study leave of two to four weeks of work during the final phase of your preparation.
CFA success rate
The preparation of the three levels of CFA exams requires a serious commitment to follow a structured study plan. According to the CFA InstituteThe average annual success rate from 2015 to 2025 for the CFA Level I exam was 40%. For the August 2025 exam, the success rate was only 44%.
This statistic indicates that only dedicated candidates are likely to take the exam, so be ready to make the necessary sacrifices and to make the required effort. And remember, the level of passage I is only the first step to receive a CFA charter – there are two more rigorous exams to pass.
How much do I have to study to pass the level I examination of the financial analyst (CFA)?
The CFA Institute recommends studying around 300 hours for CFA Level I examination.
What is the success rate of the CFA IC level exam?
The overall success rate since the level I CFA level started in 1963 at August 2025 is 41%, and only 40% of candidates succeeded between 2015 and 2025. The August 2025 exam saw 44% success.
What is the minimum passage score for the CFA Level I exam?
Each year, the CFA Institute calculates a minimum passage score for its exams, which changes whenever the exam is given. Although the CFA Institute does not make this score available to the public, it indicates that scores greater than 70% of the points available indicate control of the subject. Test preparation suppliers believe that scores greater than 70% should generally be a pass. They also believe that the passage score could reach 56% in certain years and up to 74% in others.
What happens if I fail to examine the CFA I level?
If you fail in the CFA exam, you have the possibility to take it back, but not in consecutive windows or a window within six months. You can only try one exam twice a calendar year and have a total of six maximum attempts per exam level to succeed. You will also have to pay the registration fees each time you go to the exam.
What are the costs to pass for the CFA Level I exam?
To take the CFA level I review, you will first have to pay single $ 350 registration fees in the program. Each exam then costs $ 1,250 (or $ 940 for early registration) for the November 2025 exam calendar. The costs increased to $ 1 290 ($ 990 for early registration) for 2025 exams.
The bottom line
The key to preparing for the CFA Level I exam is to study in a structured manner over a period of at least 300 hours. Hopefully after studying in a structured way for the exam, you will have no problem passing it.
The completion of the CFA Level I exam is only a reception piece of a CFA charter. You will have to go for two additional examinations –CFA Level II And CFA Level III– Before being eligible for this prestigious holder of industry competence.
