CFA Level 1 FAQ
The most common questions about the exam — answered clearly.
Frequently Asked Questions
How long should I study for CFA Level 1?
CFA Institute recommends 300+ hours. Most candidates study 4–6 months.
Can I use a financial calculator?
Yes — only BA II Plus or HP 12C are allowed. Practice until it's automatic.
How many times can I take Level 1?
Up to 6 times total, with a 6-month wait between attempts.
What's the order of CFA levels?
Level 1 → Level 2 → Level 3. You must pass each before proceeding.
Is the CFA harder than the bar exam?
Both are rigorous. CFA has a lower pass rate (~40%) and requires 900+ total study hours across all three levels.