How many hours do you need to study for CFA Level 1?

Studying for the CFA Level I exam is crucial, and it takes a substantial effort. There are no shortcuts. The one thing standing between you and success on the Level I CFA^® Program exam is hard work. CFA Institute recommends you aim to spend at least 300 hours preparing for the Level I exam.

How long should I study for CFA Level 1?

Successful Level I candidates spend more than 300 hours preparing for the exam on average. The best strategy is to leave at least four months (approximately 17 weeks) to finish all the reading material.

Is 3 months enough for CFA Level 1?

No, studying for any CFA exam in less than 6 months will not give you enough time to adequately prepare unless you have a relevant background in the curriculum. According to CFA Institute, candidates study on average 348 hours for the Level I exam, 364 hours for the Level II exam, and 365 hours for the Level III exam.

Is 600 hours enough for CFA Level 1?

Therefore, 600 hours of study should be more than sufficient to clear the CFA Level 1 exam. However, it's important to note that the effectiveness of study time can also depend on the individual's background, familiarity with the material, and study habits.

How hard is the CFA Level 1 actually?

CFA exams are not easy, and Level 1 is just the start. Commonly cited as one of the world's hardest exams, CFA Level 1's difficulty is comparable to a diploma level and gets harder from then on.

How Many HOURS Should You Study for CFA Level 1?

Is CFA harder than MCAT?

Scoring high enough on the MCAT to gain admission to a U.S. medical school (MD program not DO) is more difficult than passing the CFA. For some candidates not schooled in finance, passing the CFA could be more difficult than a respectable MCAT score.

How many people pass CFA Level 1 first try?

Overview of CFA Pass Rates Since 2014. The latest CFA pass rates are: 35% for Level 1 (Nov 2023) 44% for Level 2 (Nov 2023)

Is 200 hours enough for CFA Level 1?

#3 – Target 300 hours of study for Level 1, at minimum

​In our experience, 300 hours is a good amount of time to sufficiently cover the Level 1 curriculum and complete sufficient practice exams. That said, 300 hours is probably a minimum number as this obviously varies across levels and background.

Can you pass CFA Level 1 6 months?

YES, it's enough. Especially if you apply the 'Safety-First Rule for CFA Exam Prep'. This studying strategy factors in more than 300 study hours and assumes a regular review of study content.

Can you pass CFA Level 1 5 months?

No, studying for any CFA exam in less than 6 months will not give you enough time to adequately prepare unless you have a relevant background in the curriculum. According to CFA Institute, candidates study on average 348 hours for the Level I exam, 364 hours for the Level II exam, and 365 hours for the Level III exam.

Which level of CFA is most difficult?

It would be safe to generalize that most CFA charterholders would call Level 2 the hardest of the CFA Exams. However, with patience, dedication, and practice, candidates can conquer the Level 2 Exam.

What is the shortest time to study for the CFA?

We recommend 6 months of studying per level to minimize fail chances, which is the biggest setback you can risk. Therefore, the quickest (practical) way to a CFA charter is about 12-18 months, from starting Level 1 to finishing Level 3.

What are the hardest CFA Level 1 chapters?

Hardest topics by CFA Level

Generally, our research shows that candidates' CFA Level 1 hardest topics are Financial Statement Analysis, Fixed Income, Quantitative Methods, Derivatives and Economics.

Does CFA Level 1 expire?

No. Your results do not expire.

Can you prepare for CFA Level 1 in 1 month?

Ideally, you must start studying for the CFA Level 1 exam for a minimum of 6-9 months before the examination date. You might need slightly less time to complete the syllabus only if you have a relevant background which is in sync with the course curriculum.

What is the 6 month rule for CFA?

Candidates are permitted to take the exam a maximum of two times per calendar year (when applicable), but not in consecutive windows or windows that are less than six months apart. There is a maximum of six attempts per exam level.

Is CFA Level 2 easier than Level 1?

2) CFA Level II Exam Increases Question Difficulty

Not only are Level II CFA concepts generally more complex, but the questions on the Level II exam also require more concentration. Compared to Level I, a candidate will need a higher level of preparation and skill to select the correct answer to a Level II question.

Can CFA be done by self study?

Many candidates choose to prepare for the CFA exams by enrolling in a review course or hiring a tutor. However, with the right amount of dedication and discipline, it is possible to pass the exams through self-study.

Am I smart enough to be a CFA?

Truth is, it doesn't matter how much finance background you have or even how smart you are. The questions in a CFA exam are so detailed that you will never be able to answer them correctly without studying enough.

What is the hardest part of CFA Level 1?

Having said that Fixed Income, Derivatives, and FSA are the hardest level 1 CFA exam topics, it's time to rank all of the 10 level 1 topics by difficulty. Difficulty is a subjective criterion but this hard-to-easy topic hierarchy is meant as a guideline to help you approach CFA exam topics sensibly.

Is 3 months enough for CFA Level 2?

On average, CFA Level 2 candidates logged 328 hours of studying time. In my experience, I think 350 hours of studying time is more realistic for a good chance of passing, especially if done in 4 months.

Is CFA harder than CPA?

As clearly seen in the passing rates CFA is more difficult in comparison to CPA. On an average about 50% of the registered candidates clear CPA exam whereas about 7% of the candidates clear all the 3 levels of CFA. In terms of course also, the course of CFA is much more lengthy and detailed in comparison to CPA.

Can you pass CFA 1 by guessing?

If you need to correctly answer 135 questions to pass the exam, you don't have to know the answer to 135 questions. That should give you confidence. It's OK to guess on some questions. A passing score is within your grasp!

Is a CFA better than an MBA?

Career aspirations: While there is certainly overlap in how business school graduates and charterholders apply their expertise, MBA programs are generally ideal for professionals who want to pursue management positions in any industry. A CFA designation suits professionals dedicated to working in the finance industry.