CFA Level 1 Weights 2018 & 2019 (Exam Topic Weightage)

The Topics in CFA Level 1 will carry different Weights. There are total 10 such topics.The Weights is based on the marks allocation to each topic in the exam. For Example, CFA Level 1 Financial Reporting and Analysis topic has the highest weight. On the other hand, Alternative Investments topic has the lowest Weight. In our previous post, we already discussed CFA Level 1 Exam Date, and also Study Plan for CFA Level 1. This Article on CFA Level 1 Weights was contributed by Prof.Williamson.

Individual Topics Weights in CFA Level 1

CFA Level 1 Topic 1 Weights
Financial Reporting and Analysis 20%
Ethical and Professional Standards 15%
Quantitative Methods 12%
Economics 10%
Equity 10%
Fixed Income 10%
Corporate Finance 7%
Portfolio Management 7%
Derivatives 5%
Alternative Investments 4%

Corporate finance : CFA Level 1 Weights 7%

Start your exam preparation with this topic. Even through Corporate Finance weight is low in CFA Level 1 exam, this topic is very easy to digest and helps to build confidence and gives a good head start.

Financial Reporting : CFA Level 1 Weights 20%

For FRA, solve the questions at the end of each lesson in the Schweser notes as well as the original CFA materials.

Towards the last few days of your study program, focus more on solving questions (and revision through questions) rather than revising through the notes. That will make a tonne of a difference.

Study Strategy based on CFA Level 1 Weights

Dive into the CFA Institute’s readings, and/or Schweser Notes if you can afford it. If you’re on a budget, you can find free/cheap review flashcards based on Schweser.

Memorize: this isn’t an open book test, so try to commit as much of the material to memory as you can. Make your mind the open book 🙂 Drill flashcards during any free time you have.

Apply: once you’ve memorized the terms and equations, don’t forget to practice calculations. Nearly all of the equations appearing on the exam will require application.

Number of Study Hours : CFA Level 1 Weights

In the words of ‘Patrick’:

I had an undergraduate degree in finance and took the exam the following year. Study ~150 hours and failed. I could see it coming. It is a very comprehensive exam. I liken Level 1 to taking a final comprehensive course in business school that covers everything you learned.

Next year I studied 350 hours passed Level 1. Studied ~300 hours for Level 2 & passed. Studied ~250 hours for Level 3 and passed.

I kept meticulous track of my study time and also weights in CFA Level topics, so I could stay on course to cover all of the material and have time to take several of practice exams prior to the real exam.

If anyone wants my study time sheet, hit me with a message on linkedin and I will get it to you

If anyone is serious about earning the CFA designation, they need to be prepared to invest a minimum of 1,000 hours over 3 years to study and take the exams.