Yes, 90 days is enough to pass the CFA Level 1 exam, but it requires a very intense and disciplined approach, typically involving over 300 hours of study. This timeframe is best suited for those with a strong finance background or those able to study full-time, requiring roughly 20–25+ hours per week to cover the material.
However, with a structured study plan, disciplined preparation, and the right guidance, clearing CFA Level 1 in just three months is achievable. Enrolling in an expert coaching institute can significantly improve your chances of success.
For CFA Level 1, allocate at least 303 hours. The required study time varies based on your subject background. Use 323 hours as a guide for reading and practice. CFA Level 1 encompasses 10 topics, 19 study sessions, and about 60 readings, each with different importance.
For the majority of candidates, we recommend a 6-month study plan. This would break down to about 12 hours per week or two hours per day for 6 days per week. Skipping one day each week would allow you to relax and prepare for the next week's activities.
The CFA Level 1 passing score is not fixed every year, but it usually stays between 65% and 70%. CFA Institute does not publish an official cut-off, but this range is considered the minimum benchmark to pass.
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.
CFA Level 1 is widely considered a very difficult exam due to its broad curriculum, demanding study commitment (often 300+ hours), challenging technical content, and typical ~40% pass rates, requiring strong discipline to learn and recall foundational finance concepts, though it's often seen as the most manageable of the three levels because it focuses on learning and describing rather than deep analysis. Success hinges on consistent study, mastering core topics like Ethics, FSA, and Investments, and effective exam technique, making it a significant hurdle for many.
Preparing for the CFA Level 1 exam is a significant undertaking, but it doesn't have to take a year or more. With a well-structured study plan and consistent effort, six months is a realistic and achievable timeline for success.
Three months can be enough time, but typically it takes a candidate at least six months to prepare for the CFA Level 2 exam.
The CFA Institute released the August 2025 CFA Level I results on October 7, 2025. What Was the Official CFA Level 1 Pass Rate for 2025? The overall pass rate was 43 percent, while first-time candidates achieved a 50 percent pass rate.
Time Pressure
Each exam session lasts 4.5 hours with no breaks. Level I has 180 multiple-choice questions across two sessions, which means less than 90 seconds per question.
CFA® Exam Result Validity and Attempt Policy
Candidates are permitted a maximum of six attempts per exam level. Attending and completing any portion of a scheduled CFA® exam counts as one attempt.
Therefore, the quickest (practical) way to a CFA charter is about 12-18 months, from starting Level 1 to finishing Level 3. This assumes 6 months' study per level and consecutive passes when pass rates are averaging less than 50%. FYI – 300Hours Members have an 85% pass rate, and it's FREE to join!
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 2026 level 1 CFA exam curriculum does NOT change compared to the 2025 curriculum. There are still 93 modules in 2026 level 1 CFA exam curriculum. No readings have been added to or removed from the new 2026 CFA exam curriculum.
On the final exam, students who slept ≥8.0 hours performed better than students who opted-out or slept ≤7.9 hours, even after controlling for pre-final grades. The Eight Hour Sleep Challenge provides proof of principle that many students can maintain optimal sleep while studying, without sacrificing test performance.
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 Charterholder vs.
MBAs are in a much broader field of careers than CFA Charterholders but where they do overlap can be in the fields of finance and management. Regardless, according CFA Institute, the average salary for a CFA is $180,000 and the average salary for an MBA is $107,000.
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.
If you are currently a candidate in the CFA Program:
Include your participation in the CFA Program in the education section of your resume. (For example: “CFA® Program participant, CFA Institute.”) You may also list the levels completed. (For example: “Completed Level I in 2020.”)
Many successful CFA charterholders failed Level 1 once or more before eventually passing. You're in good company. Give yourself a day or two to sit with the disappointment, then get ready to rise.