CFA® Level I Exam

The CFA Level 1 exam tests your knowledge of 10 general topics of investment analysis and ethics, which establishes a strong foundation of knowledge in finance for taking and passing the Level 2 and 3 exams. There are two sessions to the CFA Level 1 exam.

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Setting Expectations

Set aside the time

According to the CFA Institute, the 10-year average pass rate for the CFA Level I exam is 42%. In total, candidates report investing more than 300 hours into their studies for each level of the CFA exam.

  • Important Dates

    Registration Opens: Feb 8, 2024
    Registration Closes: Aug 7, 2024
    Exam Dates: Nov 13 - 19, 2024
    Results are provided 6-8 weeks after exam

  • Exam Format

    180 multiple choice questions
    Evenly divided into 2 sessions
    Approx. 135 minutes per session
    Computer-based testing

  • Enrollment Information

    Requirements for the Level I exam

    Enroll at the CFA Institute website

  • Question Format

    Each question will have up to 3 answer choices to select from

Level I 2024 Curriculum

Topics, Weights, and Content Offerings

Quantitative Methods

6% - 9%

An exploration of quantitative concepts and financial analysis. The concepts covered include the time value of money, statistical analysis in finance, probability theory in investments, and hypothesis testing. The topic concludes with an introduction to linear regression and big data techniques.

We Prepare You With Over

  • 28,400+ Words in manuals
  • 305+ Minutes of video
  • 90+ Assignments questions
  • 300+ Quiz and Exam questions

Economics

6% - 9%

An introduction to firms and market structures. The topic covers concepts such as the business cycle, monetary and fiscal policies, geopolitics, international finance, and concludes with currency exchange rates.

We Prepare You With Over

  • 21,700+ Words in manuals
  • 255+ Minutes of video
  • 75+ Assignments questions
  • 210+ Quiz and Exam questions

Corporate Issuers

6% - 9%

An introduction to different organizational forms, stakeholder management, and corporate governance. This topic emphasizes the importance of understanding working capital & liquidity and capital allocation. It concludes by covering foundational topics in capital structures and business models.

We Prepare You With Over

  • 25,700+ Words in manuals
  • 185+ Minutes of video
  • 65+ Assignments questions
  • 145+ Quiz and Exam questions

Financial Statement Analysis

11% - 14%

An introduction to primary financial statements. We explore a general framework for financial statement analysis, three major financial statements, financial reporting for specific assets and liabilities, and financial reporting quality.

We Prepare You With Over

  • 33,700+ Words in manuals
  • 305+ Minutes of video
  • 90+ Assignments questions
  • 370+ Quiz and Exam questions

Equities

11% - 14%

An overview of financial markets. We discuss construction and use of security market indexes, market efficiency, equity securities, useful frameworks for conducting industry and individual company analysis, and three equity valuation approaches.

We Prepare You With Over

  • 27,700+ Words in manuals
  • 290+ Minutes of video
  • 80+ Assignments questions
  • 350+ Quiz and Exam questions

Fixed Income

11% - 14%

An exploration of fixed-income securities. We discuss global fixed-income markets and valuation of fixed-income securities. We examine bond returns and risks, introduce credit risk and analysis, and conclude with securitization.

We Prepare You With Over

  • 34,100+ Words in manuals
  • 285+ Minutes of video
  • 55+ Assignments questions
  • 380+ Quiz and Exam questions

Derivatives

5% - 8%

A look at basic derivatives and derivative markets. We discuss the essential functions of forwards, futures, swaps, and contingent claims (e.g., options) as well as the basics of valuing these derivatives.

We Prepare You With Over

  • 20,800+ Words in manuals
  • 185+ Minutes of video
  • 45+ Assignments questions
  • 150+ Quiz and Exam questions

Alternative Investments

7% - 10%

An overview of the features and performance appraisal for alternative investments. We discuss private capital, real estate and infrastructure, natural resources, hedge funds, and digital assets.

We Prepare You With Over

  • 24,500+ Words in manuals
  • 150+ Minutes of video
  • 50+ Assignments questions
  • 150+ Quiz and Exam questions

Portfolio Management

8% - 12%

An introduction to the portfolio approach to investments. We discuss risk and return, modern portfolio theory, portfolio planning and construction, a risk management framework, technical analysis, and the ways financial technology is impacting investing.

We Prepare You With Over

  • 18,400+ Words in manuals
  • 205+ Minutes of video
  • 65+ Assignments questions
  • 245+ Quiz and Exam questions

Ethical and Professional Standards

15% - 20%

An introduction to ethics and its role in the investment profession. We examine the CFA Institute Code of Ethics, Standards of Professional Conduct, and the Global Investment Performance Standards.

We Prepare You With Over

  • 19,100+ Words in manuals
  • 150+ Minutes of video
  • 30+ Assignments questions
  • 300+ Quiz and Exam questions

Level I 2025 Curriculum

Topics, Weights, and Content Offerings

Quantitative Methods

6% - 9%

An exploration of quantitative concepts and financial analysis. The concepts covered include the time value of money, statistical analysis in finance, probability theory in investments, and hypothesis testing. The topic concludes with an introduction to linear regression and big data techniques.

We Prepare You With Over

  • 28,400+ Words in manuals
  • 305+ Minutes of video
  • 90+ Assignments questions
  • 300+ Quiz and Exam questions

Economics

6% - 9%

An introduction to firms and market structures. The topic covers concepts such as the business cycle, monetary and fiscal policies, geopolitics, international finance, and concludes with currency exchange rates.

We Prepare You With Over

  • 21,700+ Words in manuals
  • 255+ Minutes of video
  • 75+ Assignments questions
  • 210+ Quiz and Exam questions

Corporate Issuers

6% - 9%

An introduction to different organizational forms, stakeholder management, and corporate governance. This topic emphasizes the importance of understanding working capital & liquidity and capital allocation. It concludes by covering foundational topics in capital structures and business models.

We Prepare You With Over

  • 25,700+ Words in manuals
  • 185+ Minutes of video
  • 65+ Assignments questions
  • 145+ Quiz and Exam questions

Financial Statement Analysis

11% - 14%

An introduction to primary financial statements. We explore a general framework for financial statement analysis, three major financial statements, financial reporting for specific assets and liabilities, and financial reporting quality.

We Prepare You With Over

  • 32,600+ Words in manuals
  • 305+ Minutes of video
  • 90+ Assignments questions
  • 370+ Quiz and Exam questions

Equities

11% - 14%

An overview of financial markets. We discuss construction and use of security market indexes, market efficiency, equity securities, useful frameworks for conducting industry and individual company analysis, and three equity valuation approaches.

We Prepare You With Over

  • 27,700+ Words in manuals
  • 290+ Minutes of video
  • 80+ Assignments questions
  • 350+ Quiz and Exam questions

Fixed Income

11% - 14%

An exploration of fixed-income securities. We discuss global fixed-income markets and valuation of fixed-income securities. We examine bond returns and risks, introduce credit risk and analysis, and conclude with securitization.

We Prepare You With Over

  • 34,100+ Words in manuals
  • 285+ Minutes of video
  • 55+ Assignments questions
  • 380+ Quiz and Exam questions

Derivatives

5% - 8%

A look at basic derivatives and derivative markets. We discuss the essential functions of forwards, futures, swaps, and contingent claims (e.g., options) as well as the basics of valuing these derivatives.

We Prepare You With Over

  • 20,800+ Words in manuals
  • 185+ Minutes of video
  • 45+ Assignments questions
  • 150+ Quiz and Exam questions

Alternative Investments

7% - 10%

An overview of the features and performance appraisal for alternative investments. We discuss private capital, real estate and infrastructure, natural resources, hedge funds, and digital assets.

We Prepare You With Over

  • 24,500+ Words in manuals
  • 150+ Minutes of video
  • 50+ Assignments questions
  • 150+ Quiz and Exam questions

Portfolio Management

8% - 12%

An introduction to the portfolio approach to investments. We discuss risk and return, modern portfolio theory, portfolio planning and construction, a risk management framework, technical analysis, and the ways financial technology is impacting investing.

We Prepare You With Over

  • 18,400+ Words in manuals
  • 205+ Minutes of video
  • 65+ Assignments questions
  • 245+ Quiz and Exam questions

Ethics

15% - 20%

An introduction to ethics and its role in the investment profession. We examine the CFA Institute Code of Ethics, Standards of Professional Conduct, and the Global Investment Performance Standards.

We Prepare You With Over

  • 19,800+ Words in manuals
  • 150+ Minutes of video
  • 30+ Assignments questions
  • 300+ Quiz and Exam questions

Learn From CFA Experts

Study Tips From Our Instructors

Marc Coward
Marc Coward CFA, MBA, MPhil Lead Content Manager

Write It Down

If you're stuggling to memorize formulas, write them down when you're answering practice questions. Then you can plug in the values that you've been given and solve for the answer. It's easier to remember a formula when you've seen it in action.

Mike Carmody
Mike Carmody CFA, FSA, MAAA Lead Instructor

Focus On What You Know

Don't get stressed when you see questions that leave you dumbfounded. That's to be expected when there is so much material on an exam. Instead, just focus on answering the questions correctly that you are familiar with.

Tong Teh
Tong Teh CFA, FSA President

Manage Your Time

Don't be afraid to skip questions. You can always mark a question and come back to it later. Give yourself enough time to ace easy questions that may be at the end of your exam. Remember, easy questions are worth just as much as hard questions.

Get Started on Level I Today

Salt Solutions has everything you need to conquer the CFA Level 1 exam, including Level 1 video lessons, manuals, questions, analytics, mock exams, and more. Prepare to pass the CFA Level 1 exam, so you can take on Level 2 and Level 3 with confidence.

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Everything you need to pass, from manuals to mock exams.

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Frequrenty Asked Questions

CFA Level 1 Exam Prep with Salt Solutions

How Do I Study for the CFA Level I Exam?

For CFA Level I prep, a systematic and disciplined approach is crucial. Start by understanding the exam format and comprehensive syllabus, covering various investment and financial analysis topics. Follow Salt Solutions’ detailed study plan, that includes weekly goals, study materials for every topic, practice sessions with mock exams and quizzes, and review materials to reinforce your knowledge.

How Does Salt Solutions Support CFA Level I Exam Preparation?

Salt Solutions offers comprehensive study materials customized for the CFA Level I syllabus. Our resources ensure thorough understanding of each topic, leaving no stone unturned in your preparation. With simplified video lessons, exam-like practice questions, and structured study plans, we guide your preparation from start to finish.

What Advantages Come From Taking a Free CFA Level I Mock Exam with Salt Solutions?

Taking a free mock CFA Level I exam and CFA Level 1 practice exams with Salt Solutions offers several advantages. Firstly, our CFA practice exam Level 1 is designed to be more challenging than the actual exam. This strategy ensures that our candidates are over-prepared, boosting your confidence and providing extra motivation to excel. Furthermore, it helps identify areas in your knowledge that require additional study, enabling you to focus your efforts most effectively.

How Does Salt Solutions Ensure Stress-Free CFA Exam Preparation?

Our weekly goals remove uncertainty about what and when to study, helping eliminate unnecessary stress in your exam prep. Our online resources are easily accessible, allowing you to study at your own pace and eliminating the pressure of rigid timetables that don’t afford you the flexibility needed to juggle your many priorities.

What Support Is Provided by Salt Solutions During CFA Level I Prep?

We provide immediate feedback on practice questions, helping you understand and correct mistakes. Plus, our dedicated team is ready to answer any queries about the course or the exam, responding within 2 business days and helping you feel continuously supported as you prepare for your CFA Level I exam.

Learn More About Our CFA Prep Materials and Resources

To learn more about the CFA Level 1 study materials and support we offer, including CFA Level 1 practice exams and more, leave us a message through our contact form. Or, start the process by creating an account.