What is the exam structure of CFA exam Level I?
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3 Answers
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There are two 135-minute sessions (2 hours and 15 minutes) for the CFA Level 1 test. There are 180 multiple-choice questions (MCQ) in all, with 90 in each segment that applicants must answer.Only the English language is used for the examination. Visit the official website for additional information regarding the CFA Level 1 exam.
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The CFA Level 1 examination is conducted in two sessions of 135 minutes (2 hours 15 minutes )each . A total of 180 multiple choice questions (MCQ) - 90 in each section are asked from the candidates.The Examination is conducted in English Language only.
To know more about the CFA Level 1 examination, refer to the official website.
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The CFA Level I exam comprises a total of 180 multiple-choice questions to be answered in two sessions of 135 minutes each. There are 90 MCQ questions for each session. The first session includes topics such as professional standards, financial reporting, and quantitative methods, while the second session includes questions about corporate finance, fixed income, derivatives, alternative investments, and portfolio management. This exam is given twice a year, once in June and once in December.
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The following test locations for the CFA exam will be opened from November 2025 session:
- Addis Ababa, Ethiopia
- Rabat, Morocco
- Maputo, Mozambique
- Mbabane, Swaziland
- Gurgaon/Gurugram, Haryana, India
- Nashik, Maharashtra, India
- Manipal, Karnataka, India
The CFA exam is conducted at 400 locations globally. Candidates can follow the steps mentioned below to know how to choose the CFA test centre location according to their preference:
- Register for the CFA exam
- Schedule the exam appointment
- View the test centre options along with available seating
- Choose your preferred test centre location as per the planned CBT test centre locations
- Once the location is confirmed, keep checking daily for new appointments that could be added.
Candidates should note the appointments must be scheduled by the deadline (typically 60 days before the start of the exam window). If the candidate does not see available
The following PSM is availabel for the Level 2 CFA exam:
- Analyst Skills
- Python, Data Science and AI
- Python Programming Fundamentals
Candidates should complete their PSM in order to view their CFA result. Each PSM takes about 10-20 hours to complete. The level 1 CFA exam has the following PSMs:
- Financial Modelling
- Python Programming Fundamentals
Three pathways will be released in mid-August 2025 for the Level 3 PSM. These are:
- Practical Macro (Portfolio Management Pathway)
- Due Diligence (Private Markets Pathway)
- Managing Private Wealth Clients (Private Wealth Pathway)
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