CFA Level 1
Chartered Financial Analyst
Begin your finance career with CFA Level 1. Learn key concepts like ethics, financial reporting, and investment tools, and pave the way for banking, analysis, and research.
Syllabus & Subject Weights
Understand the exam weightage across all subjects
Ethics
15 - 20%Quants
6 - 9%Economics
6 - 9%FSA
11 - 14%Corporate Issuers
6 - 9%Portfolio
8 - 12%Equity
11 - 14%Fixed Income
11 - 14%Derivatives
5 - 8%Alt Investments
7 - 10%| Subject | CFA Level 1 | CFA Level 2 | CFA Level 3 |
|---|---|---|---|
| Ethics | 15 - 20% | 10 - 15% | — |
| Quants | 6 - 9% | 5 - 10% | — |
| Economics | 6 - 9% | 5 - 10% | — |
| FSA | 11 - 14% | 10 - 15% | — |
| Corporate Issuers | 6 - 9% | 5 - 10% | — |
| Portfolio | 8 - 12% | 10 - 15% | — |
| Equity | 11 - 14% | 10 - 15% | — |
| Fixed Income | 11 - 14% | 10 - 15% | — |
| Derivatives | 5 - 8% | 5 - 10% | — |
| Alt Investments | 7 - 10% | 5 - 10% | — |
| Asset Allocation | — | — | 15 - 20% |
| Portfolio Construction | — | — | 15-20% |
| Performance Measurement | — | — | 5 - 10% |
| Derivatives and Risk Management | — | — | 10 - 15% |
| Ethical and Professional Standards | — | — | 10 - 15% |
| Portfolio Management Pathway | — | — | 30 - 35% |
| Private Market | — | — | 30 - 35% |
| Private Wealth | — | — | 30 - 35% |
* Ethics and Derivatives in Level 3 are included in the broader curriculum modules.
Career Opportunities
Job roles you can pursue with this certification
Portfolio Management
Manage diversified investment portfolios to balance risk and return. CFA equips you with expertise in asset allocation and risk management.
Research
Analyze markets, industries, and companies to guide investment decisions. CFA strengthens your skills in financial modeling and equity research.
Consulting
Provide strategic advice on financial planning and valuations. The CFA and FRM prepare you for in-depth financial analysis and risk management.
Risk Analysis & Management
Assess and mitigate financial risks for businesses and individuals. FRM specializes in risk frameworks and regulatory compliance.
Asset Management
Oversee investments for institutions or individuals to meet financial goals. CFA sharpens your skills in investment strategies and performance evaluation.
Private Wealth Management
Create customized financial plans for high-net-worth clients. CFA ensures you align investments with client objectives and risk tolerance.
Commercial Banking
Offer credit analysis and financial solutions to businesses and individuals. CFA builds corporate finance expertise, while the FRM designation adds risk evaluation skills.
Investment Banking
Focus on mergers, acquisitions, and capital raising. CFA provides essential skills in financial modeling, valuation, and deal structuring.
Where CFA Charterholders Work
Trusted by leading organizations worldwide
Exam Structure
Understanding the exam format and requirements
Exam Format
- 180 multiple-choice questions in two sessions of 2 hours, 15 minutes each.
- Optional break between sessions.
- 90 questions per session to be completed within the time limit.
Question Format
- 3 answer choices (A, B, C)
- Two types of questions: sentence completion and direct questions.
- Designed to test analytical thinking and application of concepts.
Key Details
- Average pass rate: 41% (2016–2025).
- No penalty for incorrect answers—attempt every question.
- Results available within 5-7 weeks after the exam.
Deadlines & Fees
Registration windows and exam fees for 2026
Important Details
Quick access to essential course information
