Exam dates for the August and November 2024 sessions of the Chartered Financial Analyst (CFA) level 1, 2, and 3 have been released by the Chartered Financial Institute. Those who meet the requirements to sit for the CFA tests in August and November of 2024 can view the timetable by going to the official website.The dates for the CFA Level 1, 2, and 3 tests for the month of August 2024 session have been revealed. The level 1 exams will take place from August 20 to August 26, and the level 2 exams from August 27 to August 31, 2024.
The level 1 examinations for the November 204 session will take place from November 13 to November 19, 2024, and the level 2 exams from November 20 to 24, 2024. The August session level exams will take place from August 16 to August 19, 2024.
Exam Structure (as mentioned on the website)
The Level I exam consists of 180 multiple choice questions, split between two 135-minute sessions (session times are approximate). There is an optional break between sessions.
First session (2 hours, 15 minutes): 90 multiple choice questions
Second session (2 hours, 15 minutes): 90 multiple choice questions
Time Management Preparation for CFA Level I (as mentioned on the website)
Timing: On average, you should allow approximately 90 seconds for each multiple choice question. You may need more or less time, depending on the question and how well you understand the topic.
The best way to study for the CFA Level I Exam is to follow the CFA program curriculum and give yourself enough time to learn the material in your ideal learning style. Here are some resources candidates have listed as being most helpful for their exam preparation:
CFA Program curriculum
CFA Institute learning ecosystem (LES)
CFA Institute online mock exams
CFA Program approved prep providers
CFA Program curriculum end-of-reading practice problems
Study groups
CFA Program Practice Pack (additional purchase necessary)
Steps to Prepare for the CFA Level I Exam (as mentioned on the website)
One of the most important ways to prepare for the CFA Level I exam is to give yourself enough time to study. The CFA Program enables candidates to customize their preparation to match individual needs and circumstances. Following are some numbers to consider in planning a study strategy for the CFA Level I exam.
Successful candidates report studying on average over 300 hours for each level of the CFA Exam.
About half of successful candidates passing the LIII exam passed each exam on the first attempt (i.e. sat a total of three exams) while about a quarter sat a total of four exams.
Familiarize yourself with the data-backed study habits linked to passing the exam.
Question Structure (as mentioned on the website)
The Level I CFA exam does not use ‘except’, ‘true’, or ‘false’ in items and avoids the use of ‘not’ whenever possible. When appropriate, question stems will include one of the following qualifiers: ‘most likely’, ‘least likely’, ‘best described’, ‘most appropriate’, ‘most accurate’, ‘least appropriate’, or ‘least accurate’. Each question stem supports only one item on the exam.
Answer Choices (as mentioned on the website)
The Level I CFA exam does not use any of the following answer options: ‘all of the above’, ‘none of the above’, ‘A and B only’, ‘B and C only’, ‘A and C only’, ‘cannot determine’, ‘cannot calculate’, or ‘not enough information to determine’. Choices consisting of words or sentences are typically ordered from shortest to longest; choices that are quantitative are ordered from the smallest number to largest number. The choices agree grammatically with the question stem; language common to all choices is placed in the question stem.
All questions are equally weighted and there is no penalty for an incorrect answer.
