According to CFA Institute, candidates require a minimum of 300 hours of study at each level and at least 6 months to prepare for the Level I exam. With statistics showing the pass rate hovering at 40% over the past 10 years, you need to perform better than the average candidate to secure a pass. In a 2015 CFA Institute survey, more than 60% of candidates admitted to using third-party preparation materials in addition to reading the assigned books.
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