CFA-LEVEL I

Candidates appearing for Level I are tested on conceptual knowledge and basic financial analytics. Exam focus at this level is on in-depth understanding of concepts and techniques that apply to financial statement analysis, investment decisions and portfolio management. Basic understanding of corporate finance, quantitative analysis and security markets, CFA Institute Code of Ethics and Standards of Professional Conduct. The Level I exams includes 240 multiple choice questions (MCQ).

 

Name Subject Weights
1 Ethics and Professional Standards 15 %
2 Quantitative Methods 12 %
3 Economics 10 %
4 Financial Reporting and Analysis 20 %
5 Corporate Finance 7 %
6 Equity Investments 10 %
7 Fixed Income 10 %
8 Derivatives 5 %
9 Alternative Investments 4 %
10 Portfolio Management 7 %

*The subject weights vary over the three levels slightly.