{"id":8789,"date":"2021-05-05T10:42:54","date_gmt":"2021-05-05T10:42:54","guid":{"rendered":"https:\/\/analystprep.com\/blog\/?p=8789"},"modified":"2026-02-09T06:58:03","modified_gmt":"2026-02-09T06:58:03","slug":"a-simple-step-by-step-guide-to-prepare-for-your-cfa-level-1-exam","status":"publish","type":"post","link":"https:\/\/analystprep.com\/blog\/a-simple-step-by-step-guide-to-prepare-for-your-cfa-level-1-exam\/","title":{"rendered":"A Simple Step by Step Guide to Prepare for Your CFA\u00ae Level I Exam"},"content":{"rendered":"\n<p>You might have heard about how hard the Level I CFA exam is, and you may be feeling discouraged. There is no need to panic or feel apprehensive. If you have enrolled and registered for CFA Level I exam, we have a practical step-by-step guide to help you pass your exams.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/analystprep.com\/blog\/a-simple-step-by-step-guide-to-prepare-for-your-cfa-level-1-exam\/#Get_acquainted_with_the_CFA_Level_I_curriculum_and_identify_different_topic_weights\" >Get acquainted with the CFA Level I curriculum and identify different topic weights<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/analystprep.com\/blog\/a-simple-step-by-step-guide-to-prepare-for-your-cfa-level-1-exam\/#Prepare_and_adhere_to_a_study_plan\" >Prepare and adhere to a study plan<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/analystprep.com\/blog\/a-simple-step-by-step-guide-to-prepare-for-your-cfa-level-1-exam\/#Understand_the_question_format_used_in_CFA_Level_I\" >Understand the question format used in CFA Level I<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/analystprep.com\/blog\/a-simple-step-by-step-guide-to-prepare-for-your-cfa-level-1-exam\/#Practice_for_the_test_using_sample_questions_and_mock_exams\" >Practice for the test using sample questions and mock exams<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/analystprep.com\/blog\/a-simple-step-by-step-guide-to-prepare-for-your-cfa-level-1-exam\/#Additional_tips_to_use_during_the_exam\" >Additional tips to use during the exam<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Get_acquainted_with_the_CFA_Level_I_curriculum_and_identify_different_topic_weights\"><\/span>Get acquainted with the CFA Level I curriculum and identify different topic weights<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The CFA Level I curriculum covers ten topics, each with a different weight in the exam, which change regularly. The test will focus on your knowledge and comprehension of these core topics.<\/p>\n\n\n\n<p>The most recent topics and their weights shared by the CFA Institute in 2020 are;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Ethical and professional standards \u2013 15 -20%<\/li>\n\n\n\n<li>Quantitative methods \u2013 8 -12%<\/li>\n\n\n\n<li>Economics \u2013 8 -12%<\/li>\n\n\n\n<li>Financial reporting and analysis \u2013 13 -17%<\/li>\n\n\n\n<li>Corporate finance \u2013 8 -12%<\/li>\n\n\n\n<li>Equity investments \u2013 10 -12%<\/li>\n\n\n\n<li>Fixed income \u2013 10 -12%<\/li>\n\n\n\n<li>Derivatives \u2013 5 -8%<\/li>\n\n\n\n<li>Alternative investments \u2013 5 -8%<\/li>\n\n\n\n<li>Portfolio management \u2013 5 -8%<\/li>\n<\/ul>\n\n\n\n<p>The weights are subject to change, but you can identify the topics which carry the most weight. Four topics have the bulk of the weight and which you should pay special attention to are; ethical and professional standards, financial reporting, fixed income, and analysis and equity investments. Ensure that you have an in-depth understanding of these topics to increase your chances of passing the exam.<\/p>\n\n\n\n<a href=\"https:\/\/analystprep.com\/free-trial\/\"\n   target=\"_blank\"\n   rel=\"noopener noreferrer\"\n   style=\"display:block;margin:26px 0 34px;padding:15px 24px;border:2px solid #2563eb;border-radius:22px;text-align:center;color:#2563eb;text-decoration:none;font-weight:500;font-size:15px;background-color:#ffffff;\">\n   Focus on high-weight CFA topics with targeted practice.\n<\/a>\n\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Prepare_and_adhere_to_a_study_plan\"><\/span>Prepare and adhere to a study plan<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The CFA program is challenging and requires you to put in enough time and effort to succeed. When planning a study strategy, dedicate at least 300 hours towards studying for your CFA Level I examination.<\/p>\n\n\n\n<p>You should customize your study plan to suit your pace and circumstances. Make the most of this time by focusing on the topics which carry the most weight and achieving the planned learning outcomes.<\/p>\n\n\n\n<p>The CFA Level I exam pass rate is low, with less than half the candidates passing the exam on the first try. These numbers should not discourage you but rather motivate you to start studying as soon as possible. It would be best if you put in more than the recommended 300 hours to read.<\/p>\n\n\n\n<p>Consider looking for additional study resources like exam prep packages from <a href=\"https:\/\/analystprep.com\/cfa\/\" target=\"_blank\" rel=\"noreferrer noopener\">Analystprep.com<\/a> to increase your chances of success.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Understand_the_question_format_used_in_CFA_Level_I\"><\/span>Understand the question format used in CFA Level I<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The question format used in CFA Level I exam is multiple choice. The test consists of two 135 minutes sessions covering all the topics in the curriculum with an optional break between the sessions. You should take both sessions to qualify for an exam result.<\/p>\n\n\n\n<p>The first session has 90 multiple-choice questions covering the following topics; economics, ethics and professional standards, quantitative methods, and financial reporting and analysis. The second session also has 90 multiple-choice questions covering the following areas; derivatives, corporate finance, alternative investments, fixed income, and portfolio management.<\/p>\n\n\n\n<p>Each multiple-choice problem will consist of a question, a statement, a table, and three answer choices.&nbsp; The two basic formats used are sentence completion with three unique answer choices or questions with three unique answers from which you can choose.<\/p>\n\n\n\n<p>Understanding these question formats will help you understand the topics as you study and how to apply this knowledge to answer exam questions effectively.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Practice_for_the_test_using_sample_questions_and_mock_exams\"><\/span>Practice for the test using sample questions and mock exams<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>It would be best to allocate some of your study time to practice answering questions using sample questions and mock exams, especially as the exam date approaches. Mock exams simulate actual test conditions to help you understand how the exam is.<\/p>\n\n\n\n<p><a href=\"https:\/\/analystprep.com\/cfa-level-1\/\" target=\"_blank\" rel=\"noreferrer noopener\">Analystprep.com<\/a> has an extensive library with sample questions, personalized quizzes, and mock exams. Our online and video tutorials will help you internalize hard-to-understand concepts. We also demonstrate the required calculations to get the correct answer.<\/p>\n\n\n\n<p>Practicing using sample questions and mock exams will assist you in identifying any knowledge gaps and prepare you to pace yourself during the test. You should review your performance and learn from your mistakes to avoid repeating them in the future.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-wp-embed is-provider-analystprep wp-block-embed-analystprep\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"wp-embedded-content\" data-secret=\"n3JA5oNOGD\"><a href=\"https:\/\/analystprep.com\/shop\/all-3-levels-of-the-cfa-exam-complete-course-by-analystprep\/\">All 3 Levels of the CFA Exam &#8211; Complete Course offered by AnalystPrep<\/a><\/blockquote><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; visibility: hidden;\" title=\"&#8220;All 3 Levels of the CFA Exam &#8211; Complete Course offered by AnalystPrep&#8221; &#8212; AnalystPrep\" src=\"https:\/\/analystprep.com\/shop\/all-3-levels-of-the-cfa-exam-complete-course-by-analystprep\/embed\/#?secret=xafa6xFYlP#?secret=n3JA5oNOGD\" data-secret=\"n3JA5oNOGD\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe>\n<\/div><\/figure>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Additional_tips_to_use_during_the_exam\"><\/span>Additional tips to use during the exam<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Ensure that you know how to use the features on your calculator and are comfortable with it.<\/li>\n\n\n\n<li>Attempt all the questions. You will not get a penalty for giving a wrong answer.<\/li>\n\n\n\n<li>Be comfortable during the exam. Wear comfortable shoes and clothes on exam day.<\/li>\n\n\n\n<li>Arrive at your exam center at least 30 minutes before the scheduled test time. Arriving on time will help you settle in and avoid disqualification.<\/li>\n\n\n\n<li>Always adhere to the expected code of conduct when sitting for your exam.<\/li>\n<\/ul>\n\n\n\n<p>Enroll in our CFA study packages at <a href=\"https:\/\/analystprep.com\/cfa\/\" target=\"_blank\" rel=\"noreferrer noopener\">Analystprep.com<\/a> to access expert instruction, additional study materials, and revision resources. We are committed to your success.<\/p>\n\n\n\n<div style=\"text-align:center; margin-top:44px;\">\n  <a href=\"https:\/\/analystprep.com\/free-trial\/\"\n     target=\"_blank\"\n     rel=\"noopener noreferrer\"\n     style=\"display:inline-block;padding:18px 56px;background-color:#2563eb;color:#ffffff;text-decoration:none;border-radius:22px;font-weight:700;font-size:17px;box-shadow:0 8px 22px rgba(37,99,235,0.25);\">\n     Start Free Trial \u2192\n  <\/a>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>You might have heard about how hard the Level I CFA exam is, and you may be feeling discouraged. There is no need to panic or feel apprehensive. If you have enrolled and registered for CFA Level I exam, we&#8230;<\/p>\n","protected":false},"author":4,"featured_media":8798,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[70,73],"tags":[127],"class_list":["post-8789","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cfa","category-study-tips","tag-a-simple-step-by-step-guide-to-prepare-for-tour-cfa-level-1-exam","blog-post","animate"],"acf":[],"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/analystprep.com\/blog\/wp-json\/wp\/v2\/posts\/8789","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/analystprep.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/analystprep.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/analystprep.com\/blog\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/analystprep.com\/blog\/wp-json\/wp\/v2\/comments?post=8789"}],"version-history":[{"count":8,"href":"https:\/\/analystprep.com\/blog\/wp-json\/wp\/v2\/posts\/8789\/revisions"}],"predecessor-version":[{"id":13957,"href":"https:\/\/analystprep.com\/blog\/wp-json\/wp\/v2\/posts\/8789\/revisions\/13957"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/analystprep.com\/blog\/wp-json\/wp\/v2\/media\/8798"}],"wp:attachment":[{"href":"https:\/\/analystprep.com\/blog\/wp-json\/wp\/v2\/media?parent=8789"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/analystprep.com\/blog\/wp-json\/wp\/v2\/categories?post=8789"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/analystprep.com\/blog\/wp-json\/wp\/v2\/tags?post=8789"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}