How To Prepare For CFA Level 1 2015 – 15 Tips Everyone Should Know

People must complete a study program of financial education designed by the CFA Institute before becoming a Chartered Financial Analyst. The CFA exam includes three levels which each CFA candidate have to pass in sequence during the course of this program. We will begin with CFA Level 1 with updated information about the exam and tips for exam preparation. Read How To Prepare For CFA Level 1 2015 – 15 Tips Everyone Should Know to broaden your understanding about this tough exam.

About CFA Level 1 Exam

Topics of CFA Level 1 Exam

300 hours is the ideal amount of time which most CFA candidates need to spend on preparing for each exam at each level. In the curriculum, there are 18 self-study sessions including sample mock exam questions which are highly recommended for students to use, also, they should utilize free CFA sample practice questions provided by third-party providers. The CFA Institute offer two sample exams available online around 2 weeks prior to the CFA Level 1 exam. Here are topics that will be covered in the CFA Level 1 exam:

• Ethical and Professional Standards
• Investment Tools
o Corporate finance
o Economics
o Financial reporting and analysis
o Quantitative methods
• Asset Classes
o Alternative investments
o Derivatives
o Equity investments
o Fixed income
• Portfolio Management and Wealth Planning

Format of CFA Level 1 Exam

CFA Level 1 exam includes 240 questions in the multiple choice format. It’s divided into two three-hour sessions with 120 questions in the morning session and 120 questions in the afternoon session. Each question will be offered three answers and test-takers have to choose the most suitable answer to the question. Candidates are not penalized for guessing because all of the answers are equally weighted. Some words such as all of above, none of the above or except are not used in the multiple choice questions.

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