All What You Need to Know About CFA Exam level 1
- Level 1 exam for the year 2020, before the institute decided to change the format of the exam in 2021, was a paper exam and held twice a year for Level 1 in June and December and for Level 2 and 3 it is held only once in June of each year
- The exam consists of two session, morning session from 9 to 12 noon and evening from 2 to 5
- It is a 6-hour exam of 240 questions, 120 questions each session (multiple choice)
- The exam is on the first Saturday in June and December
- The results are out two months after the exam
- As for your entry, you enter at 8 o’clock in the morning session and 1 o’clock in the evening session and you get checked on everything. The door closes at 8:30 in the morning session and 1.30 in the evening session.
The exam starts at 9 in the morning session and 12 in the evening session
- As for the institute’s changes of the exam system in 2021, the institute created an electronic exam using computer basis
- It will be 4 times a year in February, May, August and November
- Number of questions 180 and the type of questions are not determined yet
- The number of hours is 4.5 hours, 135 minutes per session + half an hour break
- With regards to the new system, if you failed the exam you can re-exam in the following times:
If you failed February exam, you can join the re-exam in August
If you failed May exam, you can join the re-exam in November
If failed August exam and, you can join the re-exam in February
If you failed November exam, you can join the re-exam in May
- So, what are the percentages of each subject in the exam?
Registration Schedule and Tuition Fees
- Enrolling Fees
Fees are $450, paid only once upon registration for the first time
- Early Registration Fees
Fees are $1000
For June exam, registration ends on October 2, 2019
For December exam, registration ends on March 25, 2020
- Standard Registration Fees
Fees are $1000
For June exam, registration ends on February 2, 2020
For December exam, registration ends on August 19, 2020
- Late Registration
Fees are $1450
For June exam, registration ends on March 11, 2020
For December exam, registration ends on September 9, 2020
Keep in mind that registration deadlines expire at 11:59 pm
Exam Registration Requirements
To be able to register for the exam, you must:
- Have a Bachelor’s degree (or equivalent) or be a student in the final year
- Have 4 years of professional work experience, whether related to investment or not
- Have a valid international passport
Exam Registration Procedures
The first step is to have an account on the institute’s website. If you don’t know how, you will find the steps in Scholarship registration procedures
- Visit the website, choose “Programs”, then “CFA Program”, then “Registration”
- Exam Selection
Choose “Exam Selection” and select either June or December
- CFA Institute ID
Your CFA Institute ID will automatically appear, once you create your account. The ID remains the same throughout the program. You must keep your ID and password in a safe place in case you forgot it.
- Post Code
- Business/building name
(if not available, leave it blank)
- Address line 1
- Address line 2
(if not available, leave it blank)
(leave it blank)
- Last 4 Digits of Passport Number
- Passport Expiration Date
- First Name
(Same as your passport)
- Last name
write the rest of your name fully in English same as your passport, for the institute wants to make sure of your identity
In worst cases, if you write name incorrectly, you can change it a while before the exam. If you don’t have a passport, you can type your name and fill the same name in the passport application
(don’t make any changes)
(Bachelor’s Degree/Final Year)
- University Name
- Graduation Year
- Current Employment Status
- Candidate Agreement
(Click “Accept” for accepting the institute’s terms and conditions)
- Professional Conduct Inquiry
(Professional behavior such as a suspension from work, dismissal or a criminal penalty; choose “NO”)
- After that, the institute asks if you want to receive information about additional opportunities for exam preparation through electronic messages. Here, choose if you want or not
- In payment step, you will see the total amount required. You must contact your bank, enough time before registration, to check if your Visa card is valid for online payment or not.
- After this, write the name written on the Visa you are using, with same spelling, and the number of the card, and its expiry date.
You will be asked to enter a secure code or CVV, the 3 numbers written on the back of the card, and this is also your signature.
- The institute will then notify you of your successful payment.
Now, you have successfully registered.
Essentials for the Exam
- The exam admission ticket, which the institute will send to you via email, about 4 weeks before the exam date, and it contains all the details and the location of the exam as well.
It is necessary to make sure of all the data written in the ticket and verify its authenticity and in the event of its incorrect validity, you must notify the institute before the exam.
Print the admission ticket and make sure that all of your details are clear and bring it with you because if you forget it, you will not be able to enter the exam and lose the registration fees.
- A valid passport
- Calculator (You are allowed to use: Taxes Instrument B| |plus professional)
- Spare batteries for the calculator
- Pencils and an eraser
- You are allowed to have a digital or standard watch. Smart watches are not allowed
- You are not allowed to have any paper, mobiles, or their covers
- You are allowed to have water, medications, tissues, money cases and hard candy
Choose a comfy outfit for the exam day
- Keep in mind that, in the morning session you enter at 8 o’clock in the morning and you get a check up on everything with you. The door closes at 8:30, and the exam starts 9 o’clock. Try to be present enough time before the exam, because if you are late you will not be able to enter the exam.
- Get rid of anxiety and tension from the exam and always remember that you have done a great effort that God will never forget.
- If you feel that you forgot what you have studied, this is very normal. We all have been there before, and as soon as you enter the exam and see the questions, you will remember everything, God willing.
- At the beginning of the exam, you will find the questions difficult. This is intentional in order to test your ability to solve under pressure. You must practice self-control and control your anxiety and you will find the rest of the exam easier.
- Try to solve the questions in their order, because it may lead you to forget a question which will result in marking wrong choices.
- Some questions will take a lot of time to be solved. However, you don’t need to worry because there are other questions that you will be able to solve once you look at them.
- Focus on the questions having the words “least” or “most” because it might deceive you. The institute prefers such confusing questions for they require a great effort.
- Try to manage your time, to be able to solve 240 questions in 6 hours, in two sessions
You don’t need to worry, we will help you manage your time