CFA Level I Practice Test 2026 – Complete Exam Prep

Embark on your journey to becoming a Chartered Financial Analyst (CFA) by conquering the CFA Level I exam. The CFA Level I exam is the first step of the CFA program, which is a globally recognized credential in the finance industry. Whether you are a recent graduate or a seasoned finance professional, passing the CFA Level I exam demonstrates a deep understanding of investment management principles and enhances your career prospects.

Understanding the CFA Level I Exam

The CFA Level I exam delves into ten major topics that underpin the finance industry, such as Ethical and Professional Standards, Quantitative Methods, and Financial Reporting and Analysis. The test is rigorous and demands comprehensive knowledge and analytic skills to assess and interpret financial statements, capital budgeting, risk management, and more.

Exam Format

• Duration: The CFA Level I exam comprises two sessions, each lasting two hours and fifteen minutes.
• Question Type: The exam consists of multiple-choice questions, each with three possible answers.
• Number of Questions: A total of 180 questions split into two sessions of 90 questions each.
• Scoring: There is no penalty for wrong answers. Your score is based on the number of correct answers.

Examinees are expected to answer questions that test both theoretical knowledge and practical application, covering the CFA Institute’s prescribed curriculum.

What to Expect on the Exam Day

Arriving prepared and calm is crucial. Be sure to bring your admission ticket, an approved calculator, and a valid passport. Familiarize yourself with the test center’s rules to avoid unwanted surprises that could jeopardize your performance.

Topics Covered

Expect to encounter questions from various domains, including but not limited to:

• Ethical and Professional Standards: Understand the CFA Institute's ethical and professional standards.
• Quantitative Methods: Master statistical principles and quantitative techniques.
• Economics: Grasp micro and macroeconomic principles.
• Financial Reporting and Analysis: Analyze financial reporting standards and practices.
• Corporate Finance: Learn about corporate governance and capital budgeting.
• Equity Investments: Examine markets, equity securities, and equity valuation.
• Fixed Income: Understand the characteristics of fixed-income securities and their analysis.
• Derivatives: Comprehend derivative instruments and their application.
• Alternative Investments: Explore investments outside of traditional equity and fixed income.
• Portfolio Management and Wealth Planning: Learn about tools and techniques to manage investments and plan finances.

Tips for Passing the CFA Level I Exam

Achieving success in the CFA Level I exam requires strategic preparation and dedication. Here are some targeted tips to optimize your study efforts:

1. Start Early: Allocate sufficient time for revision, approximately 300 hours as suggested by the CFA Institute.

2. Utilize Multiple Resources: Incorporate study aids like books, video lectures, and online forums into your study routine for diverse learning perspectives.

3. Practice Consistently: Engage with practice questions and mock exams routinely to track your progress.

4. Focus on Weak Areas: Identify which topics challenge you the most and dedicate more time to improving these areas.

5. Join Study Groups: Collaborate with peers to share knowledge and resolve doubts effectively.

6. Stay Updated: Follow financial news, market trends, and updates on CFA Institute guidelines and curriculum changes.

7. Leverage Examzify: Harness our platform to access tailored quizzes, mock tests, and analytics to identify strengths and weaknesses.

8. Rest and Health Management: Prioritize sleep, nutrition, and regular exercise to maintain clarity and focus.

By integrating these study strategies, you stand a stronger chance of mastering the material and achieving a passing score on the exam.

The pursuit of the CFA designation offers a unique opportunity to advance in the finance sector, solidify your professional capabilities, and significantly impact your career trajectory. Start your journey today and take that crucial first step by acing the CFA Level I exam!