Next Exam
announced
Date: 18 August 2026
Registration
ongoing
Open Date: 5 May 2026
Close Date: 5 November 2026
Official Websites:
CFA Level 1
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CFA Level 1
CFA Level I builds a strong foundation in investment analysis, financial reporting, ethics, and portfolio management. It enhances analytical and financial skills, improves career prospects, and prepares candidates for roles in investment banking, asset management, and equity research.
Latest Updates & News
CFA Institute Updates Level 1 Exam Windows and Registration Schedule
CFA Institute continues its quarterly scheduling for Level 1 computer-based exams, maintaining early and standard registration pricing structures for upcoming 2026 and 2027 cycles.
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Launch Practice Questions Launch QuizEligibility
Graduation
- Bachelor's degree OR
- Undergraduate student can register if chosen Level I exam window is within 23 months of your expected graduation month. OR
- A combination of 4,000 hours of professional work experience and/or higher education completed over at least 3 consecutive years before registering for Level I.
- The work experience does not need to be finance or investment related.
- Paid inteship / article ships may qualify if they meet CFA institute's criteria.
Valid Passport
- A valid interational passport that exactly matches your CFA Institute registration details.
Eligible Country
- Candidate must reside in a country where the CFA Institute is permitted to operate
Paper Pattern
CFA LEVEL I
180 MCQ
Questions
Equal Weightage
Marks per Question
270 min
Duration
CBT
Type
Key Information
2
Total Sessions
90
MCQ per Session
180 MCQs
Total
135 minutes
Duration per Session
30 Minutes between two Sessions
Optional Break
📋
Complete Syllabus Breakdown
Click on individual units below to reveal the specific topics and underlying concepts.
CFA LEVEL 1
Ethical & Professional Standards
- CFA Institute Code of Ethics
- Standards of Professional Conduct
- Ethical decision-making
- Global Investment Performance Standards (GIPS)
Quantitative Methods
- Time Value of Money (TVM)
- Statistical Measures & Probability Concepts
- Sampling & Estimation
- Hypothesis Testing , Correlation & Regression
- Introduction to AI and Machine Learning in Finance
Economics
- Demand & Supply Analysis
- Market Structures & Macroeconomic Indicators
- Macroeconomic Indicators
- International Trade & Currency Exchange Rates
- Monetary & Fiscal Policy
Financial Statement Analysis
- Income Statement , Balance Sheet & Cash Flow Statement
- Financial Reporting Standards & Ratio Analysis
- Inventory & Long-lived Assets & Financial Reporting Quality
Corporate Issuers
- Corporate Governance & Capital Budgeting
- Cost of Capital & Working Capital Management
- Capital Structure & Business Models
Equity Investments
- Market Organization & Security Market Indexes
- Equity Markets & Industry & Company Analysis
- Equity Valuation Basics
Fixed Income
- Bond Features & Bond Pricing & Yield
- Duration & Convexity, Interest Rate Risk
- Credit Analysis & Asset-Backed Securities
Derivatives
- Forward Contracts & Futures
- Options , Swaps & Derivative Pricing Basics
Alteative Investments
- Real Estate & Private Equity
- Hedge Funds , Commodities & Infrastructure Investments
Portfolio Management
- Risk & Return , Diversification
- Modern Portfolio Theory , CAPM
- Investment Policy Statements , Portfolio Construction & Performance Measurement
Timeline
18 August 2026
ONGOING
●
August 2026 Exam Window
18 August 2026
5 November 2026
PENDING
⏳
February 2027 Standard Registration Close
5 November 2026
22 February 2027
PENDING
⏳
February 2027 Exam Window
22 February 2027
Fees
Announced
Category
Fee (USD)
Early Registration
₹1
Standard Registration
₹1
Payment Mode
Credit Card, ACH, Wire Transfer, Invoice
Cut Offs