CFA Level 1 is a challenging exam, but it is absolutely manageable with the right preparation strategy. The best way to start CFA Level 1 preparation is to begin early, create a structured study plan, focus on high-weight topics, and dedicate enough time to practice questions and mock exams.
Yes, if you have good resources, discipline, and a structured plan, you can clear the CFA exams on your own.
Strategies on how to pass CFA Level 1 without studying (much)
Is 65 enough to pass CFA? To pass the exam, aiming for 70% proficiency in as many topics as possible is advisable. In essence, one doesn't need to surpass the 70% threshold in all areas to pass; some argue that scores as low as 65% or even 63% are acceptable.
No, studying for any CFA exam in less than 6 months will not give you enough time to adequately prepare unless you have a relevant background in the curriculum. According to CFA Institute, candidates study on average 348 hours for the Level I exam, 364 hours for the Level II exam, and 365 hours for the Level III exam.
Level I of the CFA Program usually has the lowest pass rate which could imply it's the most difficult exam in the program. However, this will not apply to every candidate because each person will have different strengths and weaknesses.
Yes, it is possible to pass the CFA Level I Exam with self-study. However, most CFA members strongly suggest that you prepare with a CFA expert who can help guide you through the curriculum and keep you motivated along the way.
Is CFA tougher than CA? A: The CFA and CA (Chartered Accountant) qualifications have different focuses and challenges. While both are demanding, many find CA to be more rigorous due to its extensive practical training and exams.
In-Depth Breakdown of the Most Difficult CFA Level 1 Topics & How to Tackle Them
An MBA program provides a broader education than the CFA program. The CFA focuses more on detailed topics like investment management. Completing both may give you a comprehensive education that could help prepare you for a career in portfolio and corporate management.
No Substitute for Independent Thinking: Buffett believes a CFA doesn't make someone a great investor. He values traits like temperament, patience, and independent thought over formal credentials. “It's not necessary to have a high IQ or an #MBA or a CFA.
Most candidates find Financial Statement Analysis and Fixed Income to be the most challenging CFA Level 1 subjects based on the number and difficulty of questions. Quant Methods is also challenging for candidates from a non-quant background.
CFA Level I Pass Rate Stays at 43% for November Test
Candidates who put off taking the test have a smaller likelihood of success. Those who took the Level I exam in November with at least one deferral saw a 29% pass rate, compared with 49% for first-time candidates, the CFA Institute said.
The one thing standing between you and success on the Level I CFA Program exam is hard work. CFA Institute recommends you aim to spend at least 300 hours preparing for the Level I exam.
Or are the CPA exams harder than the CFA exams? As we've established when looking at the differences between the CFA and CPA exams, the breadth, depth and length of the CFA exams combined make the CFA exams a lot more challenging to undertake and pass than the CPA exams.
Most students aim for 120 to 126 correct answers, which is around 67% to 70%, as this aligns with the general CFA Level 1 pass criteria. Understanding the concept of the CFA Level 1 passing marks helps candidates set realistic targets. Knowing how many questions to get right gives clear goals.
However, let's put things into perspective: the CFA Level 1 exam is not a math test. The CFA Institute has made it clear that calculations will account for no more than 30% of the questions on the exam. To put it in numbers, that's a maximum of 54 out of the 180 questions.
CFA Level 1 passing scores 2012-2025 (estimated)
We estimated that CFA Level 1's MPS ranged from 56%-74% from 2012-2025, with an 13 year average of 65%. The latest estimated MPS for CFA Level 1 is estimated to be around 68%.
6 Tips to Help You Pass the CFA® Level I Exam
CFA Exams Pass Rates
The CFA exams are perhaps the most challenging exams out there. They are often referred to as “bar none” the toughest exams—even harder than medical school or law school exams—with pass rates that hover around 50% and were much lower during the recent pandemic.
Yes, it is certainly possible. I have done this myself for all 3 levels of the CFA exams.
Yes, CFA professionals are in great demand and can command good salaries, especially for finance and investment banking or portfolio management roles.