The chartered financial analyst (CFA) is one of the more frequently sought after designations for investment professionals. However, becoming a CFA charter holder is not for the faint-hearted nor the uninterested. The journey to becoming a CFA charter holder is long, and it tests not only knowledge of the subject but also endurance, diligence, and will.

According to the CFA level 1, the current program is best described as a self-study, distance-learning program that takes a generalist approach to investment analysis, valuation, and portfolio management, and emphasizes the highest ethical and professional standards.

The CFA program consists of three exams: the CFA Level 1, Level II, and Level III.2 CFA candidates are required to pass each of these exams and must meet certain work requirements as set out by the CFA Institute. In Dec. 2020, the passing rate for the Level I exam was 49%.The curriculum for each of these three levels is designed to test a broad array of skills considered to be most relevant for investment professions. In this article, we will focus on the CFA Level I exam.

The exam is a computer-based exam split between two 135-minute sessions. The exam consists of 180 multiple-choice questions: 90 questions in the first session (2 hours, 15 minutes) and 90 questions in the second session (2 hours, 15 minutes). Candidates should allow approximately 90 seconds per question, depending on the knowledge of the topics.

All of the multiple-choice questions are free-standing (i.e., they are not dependent on each other). For each question, three possible choices are provided. The questions are crafted intelligently, such that the incorrect choices reflect common mistakes in calculation or logic. Candidates should aim to answer all questions, as there is no penalty for incorrect answers.

This section covers the code of ethics, professional standards, and the Global Investment Performance Standards (GIPS).There are approximately 36 questions on the subject, and the Institute itself takes this section very seriously. If scores are low or close to the minimum passing score on all other topics, then the score on this section could determine whether a candidate passes or fails. One advantage of studying ethics well is that it also helps with Level II and Level III exam preparation.

CFA level 1 exam will be conducted in Computer Based Mode. It is a globally recognized professional credential in Financial Management and investment offered by CFA Institute. Gpet CFA study preparation courses at Avatto.

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