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Free CFA Level I study guide & practice questions ↗Exam facts & prep options
CFA Program Level I
First examination in the Chartered Financial Analyst program.
Official exam siteJump to prep options ↓
Questions180
Testing timeTwo 135-minute sessions
ScoringPass/fail against CFA Institute's minimum passing score
Exam fee$1,140 early registration or $1,490 standard registration for 2026 exams
Prep options
Study resources for CFA Level I
Independent prep
Courses and study resources
Exam overview
What to know before choosing your prep
- Who runs it
- CFA Institute
- Category
- Investment Credentials
- Current version
- 2026 Level I curriculum
- Where it applies
- Global
- Exam languages
- English
- Score scale
- Scale score; Level I minimum passing score is 1,600
- Testing provider
- Prometric and select British Council test centers
- Format
- In-person computer-based testing
- Remote testing
- Not available
Exam structure
Two sessions of 90 multiple-choice questions.
Eligibility
Qualify through a degree, undergraduate, or combined education and professional-work-experience pathway
Retake policy
Maximum two attempts per calendar year, not in consecutive windows or less than six months apart; maximum six attempts per level.