CFA Level 1 Exam: Fees, Eligibility, and Program Registration Information

CFA (Chartered Financial Analyst) certification is one of the most desirable achievements for finance professionals looking to hone their market skills and increase their worth within their industry. Administered by CFA Institute, it can be obtained via self-study distance learning program that employs various approaches towards stock analysis, valuation and portfolio management – giving finance professionals an edge. CFA Institute encourages upholding high ethical and professional standards along with in-depth knowledge about finance industry operations.

CFA program exams comprised of three levels are intended to certify candidates. Exams cover topics in accounting, economics, money management and security analysis. CFA Level 1 exams take place twice annually while levels 2 and 3 exams occur every June; results for Levels 1-2 exams can be checked 60 days post exam date while for level 3 exams results can be seen 90 days later.

Now, we will delve into the CFA Level 1 Examination: its course, eligibility requirements and how you can pass this rigorous course with flying colors.

CFA Level I Exam Structure
The exam for CFA certification comprises of 240 multiple-choice questions divided into 120 multiple choice questions in two separate parts; due to logistical challenges associated with conducting it all at once, this six-hour long examination must be divided up between morning and afternoon sessions for efficient administration.

CFA Revised Guidelines in Response to COVID-19 Pandemic
However, due to uncertainty and challenges caused by COVID-19 pandemic, some guidelines for the 2021 CFA exam have been altered due to its impact on students and administrators alike. December 2020 CFA examination marks the last paper-based CFA level exam; from then onward only computer-based exams will be held.

The CFA exam has undergone significant change, moving away from pen and paper exams and towards computer-based tests with 180 questions (previously there were 240). Overall length has also been reduced from 6 hours to 4.5 hours with each session lasting only 2 hours 15 minutes instead of three.

As per revised guidelines, CFA Level 1 exams would now take place four times annually: February, May, August and November – however this window only lasts up to 10 days so candidates who miss it must wait for another date.