What To Expect On The CFA Level 1 Exam

What To Expect On The CFA Level 1 Exam

Becoming a Chartered Financial Analyst (CFA) is now one of the most popular career choices in the investment world. The advantages of joining the CFA program lie in acquiring specific investment-related experience for a reasonably low cost. On average though, the self-study course requires a commitment of around 4 years and 1,000 hours of study—so it’s not for the faint-hearted! So, discover what to expect on the CFA Level 1 Exam…

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See 2017 Hedge Fund Letters.

Key Calendar Dates for the June CFA Exams (Level 1, 2, and 3)

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(Cfainstitute.org, 2018)

The Level 2 and Level 3 exams are only held once a year in June. The CFA Level 1 exam is held twice a year and can also be taken in December 2018.

Key Calendar Dates for the December Exams (CFA Level 1 only)

VMC CFA Level 1 Exam

(Cfainstitute.org, 2018)

CFA Level 1 Exam Structure

The CFA Level 1 exam includes 240 multiple choice questions, split over two 3-hour sessions. It is necessary for candidates to attend both sessions.

  • Morning period (3 hours): 120 multiple choice questions which cover all topics
  • Afternoon period (3 hours): 120 multiple choice questions which cover all topics

Allow roughly 90 seconds for each question. All of the questions are free-standing (not related to each other) and consist of three available answer choices. You may need to spend more or less time on each, depending on your level of topical understanding.

CFA Level 1 Subjects for 2018

VMC CFA Level 1 Exam

(Cfainstitute.org, 2018)

CFA Level 1 Exam Results

VMC CFA Level 1 Exam

(Cfainstitute.org, 2018)

Don’t be deceived, all of the CFA exams are tough. On top of that, as you can see, CFA results are lowest for level 1. Practice regularly and cumulatively to revise and refresh yourself on the vast breadth of content material the exam covers. And don’t fall victim to overconfidence by underestimating the CFA level 1 exam or the time required to study for it.

CFA Salary Averages

On average, CFA charter holders can earn from anywhere around $53,000 to over $150,000 a year. The wide discrepancy between typical salaries is based entirely on experience; those with less are paid much less. A CFA with 20+ years on the job can earn in the range of $156,000 per year. Such data demonstrates the importance of gaining an edge to compete with others if you are considering entering the field.

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Dr. Andrew Stotz, CFA is the CEO of A. Stotz Investment Research, a company providing institutional investors with ready-to- invest portfolios in Asia that aim to beat the benchmark through superior stock selection. The company also provides buy- and sell-side clients with financial models to value any company in the world and World Class Benchmarking to determine what companies are financially world class. Previously, as Head of Research at CLSA, Andrew was voted No. 1 Analyst in Thailand in the Asiamoney Brokers Polls for 2008 and 2009. He was also voted No. 1 Analyst in Thailand in the 2009 Institutional Investor magazine All-Asia Research Team Report. Andrew earned his PhD in finance at the University of Science and Technology of China in Anhui province, with a focus on answering questions raised by fund managers and analysts during his career about picking stocks and managing portfolios. In addition, Andrew has been a lecturer in finance for 22 years at various universities in Thailand. Since 2013, he has been the president of the CFA Society of Thailand. He is also the author of How to Start Building Your Wealth Investing in the Stock Market.

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