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CFA LEVEL I EXAM PREP
Proven Exam Prep for Each Level of the CFA Program
CFA Level I
Level I of the CFA exam tests your knowledge and comprehension of investment tools and ethical and professional standards. Level I builds a baseline of knowledge across financial topics that will be expanded on in later levels.
CFA Level II
Level II of the CFA exam tests your application and analysis. Level II focuses on asset valuation and how you apply standards to situations that analysts face in the real world.
CFA Level III
Level III of the CFA exam requires demonstration of the same skills as Level II, but tests your ability to make and write about judgment calls. At Level III, you’ll also choose a specialized pathway directly related to your career goals.
2025-2026 CFA Level I Exam Study Packages
Choose a study package that aligns with your specific needs, learning style, and budget. Choose your CFA Level I exam prep study package today, and give yourself the best chance to pass on exam day.
$1,449.00
$944.10
$749.00
$379.00
CFA Level I Study Materials
CFA Level I Exam Details
CFA Level I candidates concentrate on the tools and concepts related to investment valuation and portfolio management, as well as an overview of how these processes fit within the guidelines of the CFA Institute Code of Ethics and Standards of Professional Conduct.
Level I Exam Details
Exam Format: Computer-based, multiple-choice
Attempts Allowed: Up to six per level
Exam Windows: February, May, August, November
Question Breakdown:
180 total questions (split into two sessions)
Session 1 & 2: 90 questions each (2 hours 15 min per session)
Insights from the CFA Program Survey
14%
CFA Level I exam takers who worked in financial roles the year before and the year after passing the Level I exam stated they received a 14% earnings increase
45%
CFA Level I exam takers reported being more satisfied with their career trajectory after passing the Level I exam
71%
Successful CFA Level I exam takers agreed that the CFA curriculum is valuable in their career
Important CFA Level I Exam Dates
Find out when you need to register to sit for your CFA Level I exam.
2025 & 2026 Exam Dates
AUGUST 2025
Level I Exam Dates
August 20-26, 2025
Registration and Scheduling Windows Open
November 6, 2024
Early Registration Deadline
January 29, 2025
Registration Closes
May 6, 2025
Scheduling Deadline
May 13, 2025
Rescheduling Deadline
July 21, 2025
Register for Exam
NOVEMBER 2025
Level I Exam Dates
November 12-18, 2025
Registration and Scheduling Windows Open
February 12, 2025
Early Registration Deadline
April 9, 2025
Registration Closes
August 5, 2025
Scheduling Deadline
August 12, 2025
Rescheduling Deadline
November 1, 2025
Register for Exam
FEBRUARY 2026
Level I Exam Dates
February 2-8, 2026
Registration and Scheduling Windows Open
April 29, 2025
Early Registration Deadline
July 7, 2025
Registration Closes
October 29, 2025
Scheduling Deadline
November 5, 2025
Rescheduling Deadline
January 22, 2026
Register for Exam
CFA Institute has not yet announced the full schedule for the 2026 exams. Please check back soon for the latest information.
Still have questions? Talk with our CFA exam prep experts to eliminate guesswork and create your Level I study plan.
CFA Level I Exam FAQs
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Explore CFA Level I Products
More Likely to Pass: These are the findings of a quantitative survey conducted by Kaplan between June 30 and August 30, 2021. For this survey, a sample of 313 U.S. CFA Level I and Level II candidates was interviewed online. The survey was fielded to subscribers of 300Hours.com and AnalystForum.com.
PassProtection™: Terms and conditions apply. Visit https://www.schweser.com/cfa/pass-protection for more information.
Most Respected and Trusted Provider and Used by More Level I Candidates: These are the findings of a quantitative survey conducted by Kaplan between June 30 and August 30, 2021. For this survey, a sample of 313 U.S. CFA Level I and Level II candidates was interviewed online, of which 271 CFA candidates answered this question. The survey was fielded to subscribers of 300Hours.com and AnalystForum.com.
45% More Satisfied with Career Trajectory After Passing the CFA Level I Exam: These are the findings of a quantitative survey conducted by Kaplan between May 2 and May 27, 2024. For this survey, a sample of 728 CFA® Level I, II, and III candidates was interviewed online, of which 150 last passed the CFA Level I exam.
71% Agreed the CFA Curriculum Is Valuable in Their Career After Having Passed the CFA Level I Exam: These are the findings of a quantitative survey conducted by Kaplan between May 2 and May 27, 2024. For this survey, a sample of 728 CFA® Level I, II, and III candidates was interviewed online, of which 150 last passed the CFA Level I exam.
85% Who Passed Level I Used an Exam Prep Provider: These are the findings of a quantitative survey conducted by Kaplan between May 2 and May 27, 2024. For this survey, a sample of 728 CFA® Level I, II, and III candidates who were either Kaplan customers or expressed an interest in Kaplan products was interviewed online, of which 150 last passed the CFA Level I exam.
94% Who Passed Level I Believe Kaplan Schweser Played Role in Helping Them Pass: These are the findings of a quantitative survey conducted by Kaplan between May 2 and May 27, 2024. For this survey, a sample of 728 CFA® Level I, II, and III candidates was interviewed online, of which 104 last passed the CFA Level I exam and prepared for that exam with Kaplan Schweser.
9 Out of 10 Students Recommend: These are the findings of a quantitative survey conducted by Kaplan between September 29 and November 4, 2022. For this survey, a sample of 838 CFA Level I, II, and III candidates was interviewed online, of which 463 prepared for a CFA exam with Kaplan Schweser.
Most Recommended: This is one of the findings of a quantitative survey conducted by Kaplan between April 1 and October 31, 2023. For this survey, a sample of 272 CFA Candidates were interviewed online in English. The survey was fielded to subscribers of 300Hours.com.
Most Used Online Forum Hosted by CFA Exam Prep Providers: Based on Kaplan North America research for comparable CFA exam preparation programs as of February 2023.
95% Recommendation Rate: This is one of the findings of a quantitative survey conducted by Kaplan between April 1 and October 31, 2023. For this survey, a sample of 272 CFA Candidates was interviewed online in English. The survey was fielded to subscribers of 300Hours.com.
Helped 700,000+ Candidates Prep for Exams: Net purchases of study packages containing the printed SchweserNotes™ bookset from 2008 through winter 2024 (less 2020).
Only CFA® Provider Offering In-Person Mock Exams at Actual CFA Test Centers: Based on Kaplan North America research for comparable CFA exam prep providers as of June 2023.
Leader in CFA® Prep: These are the findings of a quantitative survey conducted by Kaplan between June 30 and August 30, 2021. For this survey, a sample of 313 U.S. CFA Level I and Level II candidates was interviewed online. The survey was fielded to subscribers of 300Hours.com and AnalystForum.com.
Only Online Forum with Content from CFA® Faculty Experts: Based on Kaplan North America research for comparable CFA exam preparation programs as of February 2023.
Kaplan Schweser is a CFA Institute Prep Provider. Only CFA Institute Prep Providers are permitted to make use of CFA Institute copyrighted materials, which are the building blocks of the exam. We are also required to update our materials every year and this is validated by CFA Institute.
Our products and services substantially cover the relevant curriculum and exam and this is validated by CFA Institute. In our advertising, any statement about the numbers of questions in our products and services relates to unique, original, proprietary questions. CFA Institute Prep Providers are forbidden from including CFA Institute official mock exam questions or any questions other than the end of reading questions within their products and services.
CFA Institute does not endorse, promote, review, or warrant the accuracy or quality of the product and services offered by Kaplan Schweser. CFA Institute®, CFA® and "Chartered Financial Analyst®" are trademarks owned by CFA Institute.