Want to take the CFA Level 1 exam in 2025?
Here's everything you should know, from costs to study tips.
CFA Level 1 2025 Exam Dates
You can take the CFA Level 1 exam four times in 2025:
February 13-19, 2025
(Register by December 2024 for early-bird rates)
May 15-21, 2025
(Register by March 2025 for early-bird rates)
August 14-20, 2025
(Register by June 2025 for early-bird rates)
November 13-19, 2025
(Register by September 2025 for early-bird rates)
CFA Level 1 Cost: 2025 Fee Breakdown
The CFA Level 1 exam isn't cheap, but early registration saves you money.
Here's what you'll pay in 2025:
First-time candidate? Add a one-time $350 enrollment fee.
Early registration: $990
(Register 4 months before exam)
Standard registration: $1,290
(Register 2-3 months before exam)
Changes Coming in 2026
Good news: The $350 enrollment fee goes away in 2026.
Bad news: Regular fees go up.
Early registration: $1,140
Standard registration: $1,490
What's on the CFA Level 1 Exam?
The test takes 4.5 hours.
You'll answer 180 multiple-choice questions.
The exam breaks into two 135-minute sessions.
Here's what they test:
Ethics (15-20%)
Professional standards
New for 2025: Standard on Competence
Financial Statement Analysis (11-14%)
Income statements
Balance sheets
Cash flow analysis
Fixed Income (11-14%)
Bond valuation
Interest rates
Credit analysis
Quantitative Methods (6-9%)
Time value of money
Statistics basics
Probability concepts
Portfolio Management (8-12%)
Investment policy
Risk management
Portfolio theories
How to Study for CFA Level 1
Most people need 300-350 hours to prepare.
That's about:
15 hours per week for 6 months
20 hours per week for 4 months
But in reality it can be done faster - check out our learning pedagogy for more.
The study material is about 3,000 pages long.
It's split into 93 bite-sized modules.
Study Tips That Work
Start six months before your exam.
Study in the morning when your mind is fresh.
Take practice tests every weekend.
Join study groups - they help you stay motivated.
Use the CFA Institute's online learning system.
How to Register for CFA Level 1
You'll need:
A valid passport
Bachelor's degree (or be in your final year)
A professional reference
Clean professional record
Register on the CFA Institute website.
Pick your exam center early for the best location choice.
Pass Rates and Success Tips
The pass rate usually stays between 35-45%.
To boost your chances:
Study regularly
Take lots of practice tests
Focus on high-weight topics
Don't skip Ethics (it's crucial)
Is CFA Level 1 Worth It?
The CFA Level 1 exam opens doors in finance.
It's respected worldwide.
Many employers pay higher salaries to CFA charterholders.
But it takes time, money, and hard work.
Think about your career goals before committing.
[Updated: February 2025. Check the CFA Institute website for the latest details.]
Want more CFA exam tips? Check our study resources section.
