Frequently Asked Questions About the 2025 CFA® Level I Exam

So, you’re eyeing the CFA® Level I exam? You’re not alone. As 2025 approaches, thousands of ambitious professionals around the world are setting their sights on this challenging yet rewarding milestone. And it’s no surprise. Earning the CFA designation is one of the most prestigious achievements in finance, opening doors to opportunities in investment management, research, and corporate finance that would otherwise remain locked. The question on your mind right now is likely the same one asked by countless candidates before you: how hard is this exam, and am I truly ready for it?

Let’s face it—preparing for CFA Level I is no small undertaking. It’s more than just studying; it’s about strategically navigating a broad curriculum that spans everything from ethics to quantitative methods. You’ve probably heard stories from colleagues or read about pass rates hovering around the 40-50% range, which can seem intimidating at first glance. But here’s the truth: success isn’t reserved for a select few. With the right approach and commitment, passing the CFA Level I exam is achievable for anyone willing to put in the effort.

In fact, 2025 represents an exciting time for CFA candidates. As the finance world rapidly evolves, the CFA Institute is making sure the curriculum keeps pace. You’ll be tested on more than just theoretical concepts; you’ll need to understand how these principles apply to the real-world challenges and dynamic markets you’ll face in your career. The exam has shifted to reflect not only the depth of knowledge required but also the practical skills and decision-making abilities that employers value most today.

That’s where AnalystPrep comes in. For years, we’ve been helping candidates just like you not only pass the exam but excel. We’ve seen the common struggles, the tricky areas, and the pitfalls that trip up even the most prepared test-takers. We’re here to make sure you avoid them. Whether it’s creating a realistic study plan, breaking down complex concepts, or providing industry-leading mock exams, we’ve developed a suite of tools designed to simplify your CFA journey.

This isn’t about lecturing or overwhelming you with jargon. It’s about making sure you know exactly what to expect and how to prepare, every step of the way. So, if you’re wondering what lies ahead, let us give you a detailed, candid view of the CFA Level I exam in 2025. It’s challenging, but with the right guidance, it’s a challenge you can absolutely conquer. Let’s dive into everything you need to know to make this your year of success.

How Hard Is the CFA Level I Exam in 2025?

Let’s cut to the chase. The CFA Level I exam is tough—but here’s the thing: it’s not impossible. With a strategic study plan and the right resources, you can absolutely pass. But make no mistake, this isn’t the kind of exam you can cram for the night before. It requires dedication, time, and a solid understanding of the fundamentals.

In 2025, as the financial landscape continues to evolve, the CFA Institute has made several updates to ensure that candidates are equipped with the skills needed to succeed in today’s markets. This means you’ll be tested on more current, real-world applications, making the exam even more relevant. But with relevancy comes a bit of complexity, which is where AnalystPrep’s resources come into play. We’ve updated our prep materials to reflect these changes and to ensure you’re well-prepared to tackle even the trickiest questions.

What Topics Will I Face in CFA Level I in 2025?

CFA Level I remains the foundation of the three levels. It covers a broad range of topics that are critical to building your knowledge base in finance and investment management. However, with the updates in 2025, you’ll notice a stronger emphasis on practical applications and data-driven decision-making. Here’s a breakdown of the topics you’ll encounter:

• Ethical and Professional Standards: 15-20%
• Economics: 8-12%
• Quantitative Methods: 8-12%
• Financial Reporting and Analysis: 13-17%
• Corporate Issuers: 8-12%
• Portfolio Management and Wealth Planning: 5-8%
• Fixed Income: 10-12%
• Equity Investments: 10-12%
• Derivatives: 5-8%
• Alternative Investments: 5-8%

Now, these weights might look familiar if you’ve researched past CFA exams, but keep in mind that the 2025 updates make the exam feel more interconnected. For example, the focus on ethical standards isn’t just about memorizing rules—it’s about understanding how ethics intertwines with every investment decision. This is where your deeper grasp of these topics will come into play, and with AnalystPrep’s detailed study notes, you’ll find plenty of examples that connect the dots between theory and practice.

How Do I Prepare for CFA Level I in 2025?

Let’s be candid—preparing for the CFA Level I exam in 2025 isn’t just about hitting the books. You need a plan. A solid, realistic plan that takes into account your personal schedule, strengths, and weaknesses.

First, give yourself at least six to nine months to prepare. Yes, that’s right—nine months. You’re going to need every bit of that time to cover the vast syllabus and ensure you understand it thoroughly. AnalystPrep offers personalized study plans that can help you pace yourself. Trust us—rushing through the material just won’t cut it.

In 2025, you’ll also want to leverage a mix of resources:

• The CFA curriculum: This is still your primary guide. Don’t skip it.
• Mock exams: You should aim to complete at least four full-length mock exams before the real thing. AnalystPrep’s mock exams are updated for 2025 and designed to mimic the actual test conditions.
• Study groups: In the era of hybrid learning, joining a study group—whether in-person or online—can be incredibly beneficial. These groups help keep you motivated and can introduce you to different perspectives on tricky topics.

But here’s where many candidates slip up. Simply reading and memorizing is not enough. You need to apply what you learn. AnalystPrep’s question banks are structured to test your understanding through a variety of scenarios, ensuring that by the time you sit for the exam, you’re not just familiar with the material—you can apply it confidently in a range of contexts.

How Much Will It Cost to Sit for the CFA Level I Exam in 2025?

Cost is a crucial factor to consider, and it’s no secret that pursuing the CFA® designation is a significant financial commitment. For 2025, here’s what you can expect:

• One-time enrollment fee: If you’re registering for the CFA® exam for the first time, you’ll need to pay a $350 one-time enrollment fee. This applies to all new candidates, covering you throughout the CFA program.
• Early registration fee: If you’re looking to save on costs, taking advantage of early registration will set you back $990. This is the best option if you plan ahead and register well in advance of the exam window.
• Standard registration fee: For those who miss the early registration period, the standard fee has increased to $1,290. Planning ahead can help you avoid this higher cost.
• Rescheduling fee: If you need to reschedule your exam appointment, there’s a $250 fee, which remains consistent with previous years.

These fees reflect the CFA Institute’s most recent pricing structure for 2025, and it’s essential to factor them into your exam preparation budget.

Let’s talk strategy. If you register early, you can save a significant amount. That’s money you can potentially reinvest in better prep materials (like those from AnalystPrep!). Don’t forget that rescheduling comes with a hefty price tag, so choose your exam date carefully.

Does the CFA Level I Exam Expire?

A common question we get at AnalystPrep is whether the CFA Level I exam results expire. The answer? No, they don’t expire. Once you pass, it’s done—forever. You can move on to Level II without worrying about retaking Level I down the road. However, if you’re planning to take a break before progressing to Level II, just keep in mind that the financial world is always changing. Taking too long between levels could mean you’ll need to brush up on new content.

What’s the Difference Between CFA Level I and CFA Level II?

If you’re already thinking ahead to Level II (we admire your confidence!), here’s what you need to know: CFA Level I focuses on basic knowledge and comprehension, while Level II dives deeper into analysis and application. In 2025, you’ll notice that the transition between the levels is even more noticeable due to the increasing use of real-world case studies and vignettes at Level II.

Level I questions are designed to test your broad understanding of fundamental concepts. You’ll face 180 multiple-choice questions that cover a wide range of topics, from ethics to derivatives. Level II, on the other hand, will challenge you with vignettes—case studies with multiple questions that require deeper analytical skills. It’s a more nuanced, more complex exam, and this shift will demand that you go beyond memorization and into application and synthesis.

Our advice? Don’t underestimate Level I just because it’s “easier.” It’s foundational, and if you master these concepts now, you’ll be in a stronger position for Levels II and III. AnalystPrep’s study tools are built to help you build a strong foundation, so by the time you reach those higher levels, you’re not just scrambling to keep up—you’re thriving.

Related Articles:

• What are the Differences Between CFA® Level I and Level II Exam?
• CFA® Level I Derivatives
• CFA® Level I Alternative Investments
• A Summary of the 2025 CFA® Level I Curriculum: Continuity with a Focus on Ethics
  
  

Is Self-Study Enough for CFA Level I in 2025?

Self-study has always been a viable option for CFA Level I, and in 2025, that hasn’t changed. But here’s the thing: going it alone can be tough. You need to be incredibly disciplined and resourceful. If you’re going the self-study route, make sure you’re using a variety of resources. The CFA curriculum should always be your starting point, but supplements like AnalystPrep’s study guides, question banks, and video tutorials can make a world of difference.

Our top tip for self-studiers in 2025? Set clear, measurable goals. It’s easy to get lost in the sheer volume of material, but breaking it down into smaller, manageable pieces can help keep you on track.

What Are the Career Opportunities After Passing CFA Level I in 2025?

After months of studying and successfully passing CFA Level I, the next big question on your mind will probably be: what now? Passing Level I opens up several career doors, even though you’re only at the beginning of the CFA journey. In 2025, the financial industry is more dynamic than ever, and employers are increasingly looking for candidates who demonstrate not only technical knowledge but also adaptability and strategic thinking.

Here are some roles you might explore after passing Level I:

• Investment analyst
• Junior trader
• Financial planner
• Portfolio analyst
• Research associate

Many candidates we’ve worked with at AnalystPrep have found that passing Level I gives them a competitive edge in the job market, even if they’re still working toward full CFA charterholder status. It signals to employers that you’re serious about your career and willing to put in the hard work.

Conclusion

The CFA® Level I exam is undeniably demanding, but it’s far from insurmountable. Success hinges on not just hard work, but strategic, well-informed preparation. As you look ahead to your journey through the CFA program, it’s crucial to remember that each stage of the process builds on the last. Mastering Level I sets the tone for your future progress, and the habits you cultivate here will serve you well in Levels II and III.

However, beyond mere understanding of the exam structure and content, success comes from leveraging high-quality resources and developing a disciplined approach to study. With AnalystPrep, you gain access to expertly crafted materials that align with the latest CFA Institute curriculum, tailored to help you navigate the most challenging areas of the exam. From adaptive question banks to mock exams that mirror the real testing experience, AnalystPrep offers a holistic approach to your CFA preparation.

But more than that, it’s about mindset. You’re not just preparing for an exam — you’re building the foundation for a career in finance. The discipline, analytical skills, and deep understanding of financial concepts that the CFA curriculum fosters will differentiate you as a professional. Stay focused, remain adaptable, and commit to mastering not only the material but the strategies necessary to excel.

Your journey doesn’t end with Level I; it begins there. With the right preparation tools, including AnalystPrep’s comprehensive resources, you’ll not only pass the exam but thrive in your future endeavors. So, as you embark on this path, remember: every challenge you face now prepares you for greater success down the road. Keep your end goal in sight — becoming a CFA charterholder — and stay confident in your ability to achieve it.