How to guess on CFA Level 1?

Can you pass CFA Level 1 by guessing?

If you can be 100% sure of the answers to half of the questions, and correctly guess at a 50% rate for the other half, you've just passed the exam!

What is the guessing strategy for CFA Level 1?

Master the Art of Guessing

As the CFA Level 1 exam does not penalize for incorrect answers, never leave a question blank. If you don't know the answer, eliminate the choices that you know are incorrect, and make an educated guess from the remaining options.

How to pass CFA Level 1 easily?

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.

Last minute CFA exam tips

Why do so many people fail CFA Level 1?

Many candidates handle their studying exclusively in short, one-hour chunks then do poorly on the exam because they are not prepared for the level of mental fatigue. Further, mock exams force you to answer problems across the curriculum instead of only looking at specific sections.

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)

Can you pass CFA with 50%?

To pass CFA Level I, you probably need to target 70% in as many topics as possible... In other words, you don't have to get more than 70% in everything to pass. Some say you can get as low as 65%, or even 63%. You don't even need to get more than 51% in everything to pass.

What is the hardest topic in CFA 1?

Generally, our research shows that candidates' CFA Level 1 hardest topics are Financial Statement Analysis, Fixed Income, Quantitative Methods, Derivatives and Economics. Meanwhile, CFA Level 2 most difficult topics are typically Financial Statement Analysis, Portfolio Management, Ethics and Derivatives.

What is the easiest topic in CFA Level 1?

Is CFA Level 1 mock exam harder?

CFA mock exams can be slightly more challenging than the actual exam simply because candidates are still preparing for the exam and haven't finished studying. The best mock exams are designed to simulate the actual testing interface and format.

What is a good CFA Level 1 mock score?

It consists of 180 questions taken within 135 minutes. It is divided into two sessions, each consisting of 90 questions. A candidate should spend at least 300 hours studying for this level. A score considered safe for this level is 70% and above.

How much should I score in CFA Level 1 to pass?

Shoot for a 70% Minimum Score

The general perception is that the lowest passing score the Institute will set for the exam is 70%. There has never been an official word on this, but based on historical data, 70%-100% does appear to be the highest score range a candidate can get for any section.

Can you pass CFA with 65%?

Passing Scores

Candidates must get a minimum passing score (MPS) of 70% on the multiple-choice questions on the CFA Level I exam, a minimum score of 65% to 70% on the multiple-choice questions on the CFA Level II exam, and a minimum passing score (MPS) of 60% on the multiple-choice questions on the CFA Level III exam.

Why is the CFA pass rate so low?

The Covid Effect

During the COVID outbreak of 2020-2022, pass rates for all three exams fell to all-time lows. The level 1 rate in July 2021 was an alarming 22%, the August 2021 level 2 rate fell to 29%, and both the May and August 2021 level 3 rates were 42%.

Do you need 70% to pass CFA?

CFA Level 1 passing scores 2012-2023 (estimated)

We estimated that CFA Level 1's MPS ranged from 56%-74% from 2012-2024, with an 12 year average of 65%. The latest estimated MPS for CFA Level 1 (i.e. Nov 2023 exams) is estimated to be around 68%. The latest estimated MPS for recent CFA Level 1 exams are: Nov 2023: 68%

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.

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.

Is passing CFA Level 2 a big deal?

There are three tests to take before you become a charter member. The Level II test is the second, so when you complete it, you only have one more to go. Passing the Level II exam also demonstrates your dedication to your career and learning and can result in increased opportunities in your professional life.

Is CFA as hard as PhD?

CFA and actuarial exams are very easy, the difficulty is combining your study with a full time job. PhD is essentially impossible while also working a full time job. You sometimes get part-time PhD students but they normally do horribly.

What is the hardest exam in finance?

The CFA (Chartered Financial Analyst) exam is recognized as one of the most rigorous exams globally. Annually, more than 100,000 candidates undertake this comprehensive assessment.

Does CFA have a lot of math?

The first two CFA exam levels are significantly quantitative - there is literally a topic area called Quantitative Methods. This topic area covers subjects like time value of money, discounted cash flow, and lots of statistical concepts, probability distributions and hypothesis testing.

How many times can I fail 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 six months or less apart. Candidates will have a total of six maximum attempts per exam level.

Is Kaplan Schweser enough for CFA?

But the question arises – Is Schweser good for CFA Level 1? The answer is yes; Schweser is good for CFA Level 1. However, it is essential to note that Schweser notes should be used as a supplement and not as a replacement for the CFA Institute books.