The CFA curriculum for Level I impart knowledge and focuses on the study of the comprehension of investment tools and asset classes. CFA Level I Syllabus covers important topics such as Portfolio Management, Ethical and Professional standards and enhances the necessary skills of a candidate to work in a professional environment.
Candidates after completing their graduation in any discipline (Science, Arts, or Commerce) are eligible to opt for the CFA Level I program. The CFA level I program is generally offered for the duration of 6 months. CFA Level I Admissions is provided on the basis of scores obtained by a candidate in graduation and the working experience. The average cost for pursuing the CFA Level I in India can range between INR 1,25,000 - INR 5,00,000 per annum. CFA Level 1 Fees is between USD 700 for early registration and USD 1000 for Standard Registration..
CFA Level I program in India is offered by Manipal Academy of Higher Education, IIT Bombay, Chandigarh University etc. After successful completion of CFA Level I, candidates have to enroll for CFA Level II to complete the course. The average salary ranges between INR 4,00,000 to 10,00,000 for CFA jobs.
CFA Course Highlights: Level 1
The table below shows some of the important highlights related to Chartered Financial Analyst (CFA) level 1 course:
| Particulars | CFA Course Level I |
|---|---|
| Course Level | Professional Credential |
| Offering Institute | Manipal Academy of Higher Education, IIT Bombay, Chandigarh University |
| Duration | 6 months (Level 1) |
| Eligibility | Must be a Graduate and should have 4 years of relevant work experience. |
| Frequency of the exam | Four times - February, May, August, and November |
| CFA Level 1 Pass Rate | 36%-38% |
| Entrance Exams | No |
| CFA Level 1 Fees | INR 1,25,000 - INR 5,00,000 per annum |
| Job Prospect | Business Consultants, Private Bankers, Risk Managers, Chartered Accountants, etc. |
| Average Salary | INR 4,00,000 - INR 40,00,000 per annum. |
CFA Course Level 1 Requirements
To opt for the level I of the CFA Course program, aspirants must fulfill some eligibility criteria set for the different levels of the CFA program. Mentioned below are the CFA Level 1 Requirements that aspirants must match to enroll for CFA level I:
- Academic Requirements: One must have completed their bachelor's degree in any discipline (Science, Arts, or Commerce) from a recognized University. Candidates in the final year of their graduation are also eligible to apply for the CFA level I program.
- Work Requirements: Apart from fulfilling the academic qualifications for the CFA level I program candidates are also required to gain some working experience. Candidates must have gained at least 4 years of working experience in the field of the investment market, finance sector or any other relevant fields.
- Other Requirements: Since, the study material, as well as the CFA exams (CFA Level I, CFA Level II, CFA Level III), would be conducted in English, candidates must be fluent in English and possess good communication skills.
CFA Level 1: Registration Process
Once candidates meet the eligibility requirements for the CFA level I, they are eligible to proceed to complete the CFA Level I Registration Process. Aspirants just need to follow the given steps to complete the CFA Level I Registration Process.
- First, aspirants need to create an account on the CFA Institute website ( https://www.cfainstitute.org/ ) by providing the necessary appropriate information and select their preferred exam center.
- In case, if anyone is eligible for any scholarship and wishes to apply for the scholarship, then they should register as early as possible and submit their scholarship application.
- The candidate must then select the eligibility criteria and also provide their professional experience. They must enter their employer details and professional history details and so on.
- Thereafter candidates are required to select the mode in which they want to receive the study material from the institute.
- Then candidates are required to pay the applicable application fees for the registration and CFA Level 1 exam fee that can be done through any payment methods such as credit card, bank transfer, etc. Note: The amount for the process depends upon the time of registration by the candidates.
- During the registration process candidates should read the Candidate Agreement very carefully and accept it.
- Candidates must also submit the Professional Conduct Statement (disclosing relevant reprimands, litigations, Investigations etc.) upon the first CFA exam registration and then annually and before every next exam registration.
- At last candidates must carefully review the form before submitting it, and get the hard copies after submitting the form for future reference.
CFA Level 1 Fees in India
The registration of CFA Level 1 varies according to the time of registration. Candidates who register early i.e within the early registration deadline have to pay less fees as compared to those who register at a later deadline.
| Particulars | CFA Level 1 Fees (USD) | CFA Level 1 Fees (INR) |
|---|---|---|
| CFA level 1 enrollment fee | 450 | 33,722 |
| Early registration fee | 700 | 52,456 |
| Standard registration fee | 1000 | 74,938 |
CFA Course programs in India are mostly offered by the top Management colleges in India generally through Online mode. Given below are the fee details for the CFA Level I program in the top Finance colleges in India.
| Name of the College | Average Annual Fees |
|---|---|
| Manipal Academy of Higher Education | INR 50,000 - 1,00,000 |
| IIT Bombay - Indian Institute of Technology - [IITB], Mumbai | INR 90,000 - 1,00,000 |
| Chandigarh University | INR 70,000 - 1,00,000 |
CFA Level 1 Syllabus
CFA Level I Syllabus includes various concepts related to Investment, Economics and several topics in Finance. The CFA Level I Syllabus is divided into 10 topics which have been categorized or grouped into four different areas which are: Investment Tools, Ethical and Professional Standards, Portfolio Management and Wealth Planning.
The table below contains the CFA Level 1 Syllabus of all 10 core topics or subjects along with their CFA exam weightage:
| Core Curriculum Topics | Exam Weightage (%) |
|---|---|
| Ethical and Professional Standards | 15-20% |
| Quantitative Methods | 8-12% |
| Economics | 8-12% |
| Financial Statement Analysis | 13-17% |
| Corporate Issuers | 8-12% |
| Portfolio Management and Wealth Planning | 5-8% |
| Equity Investments | 10-12% |
| Fixed Income | 10-12% |
| Derivatives | 5-8% |
| Alternative Investments | 5-8% |
CFA Level 1 Syllabus: Subject Details
As mentioned above, the CFA Level I program comprises 10 different topics or subjects. All the three levels in the CFA Course contain the same 10 subjects. Here we have mentioned the in-depth details of the CFA Syllabus.
- Ethical and Professional Standard: Ethical and Professional Standard section focuses on covering the code of ethics, global investment performance standards and professional standards. It also provides knowledge about ethical behavior and the need for professionalism in the investment market.
- Quantitative Methods: This section deals with the Descriptive Statistics, Probability Theory and Investment decision making aspects. The Quantitative Methods of CFA level I covers the 8-12% of the CFA Level I exam.
- Economics: Economics as a subject in CFA level I program deals with the supply and demand analysis of individuals and firms, along with microeconomic concepts and market structure. Also, it focuses on foreign exchange and other related topics.
- Financial Statement Analysis: Financial Statement Analysis offers a thorough explanation of the financial reports along with their standards and procedures. The exam weightage from this subject or topic in the CFA Level I exam is around 13-17% which makes it a much more important topic than others.
- Corporate Issuers: In simple terms, it deals with corporate governance, financial reporting, equity section and stakeholder management. Candidates are also taught about capital budgeting, dividend and repurchase policy issues and capital structure in this subject.
- Equity Investments: Equity Investments is related to the study of the security markets, indexes, equity investment and calculation & interpretation based on the equity analysis and valuation methods
- Fixed Income: This section of the CFA subjects covers all the important key concepts of fixed income including credit analysis, term structure, bonds, mortgage-backed securities (MBSs), and their valuation. Also it helps in Learning about the fixed income securities, factors risking them, measures to maintain them and it’s measurement techniques
- Derivatives: It helps in understanding the basics of derivatives deals with currency forwards, interest rate futures and the framework of the derivative market. It also covers various derivative concepts related to futures and forwards, options, and swaps.
- Alternative Investments: The Alternative Investment section involves the study of concepts of asset classes such as hedge funds, private equity, real estate, infrastructure and others. It also covers equity and fixed income concepts apart from asset classes.
CFA Level 1 Exam
Given below are the CFA Level 1 Exam pattern with important details and guidelines.
- The entire CFA Level I exam would be conducted for the duration of 4.5 hours. It is split into two sessions, each of a time period of 2 hours 15 minutes.
- There would be a total of 180 Multiple Choice Questions (MCQs), which is 90 MCQs for each session.
- The first session would cover topics or subjects such as ethics & professional standards, economics, quantitative methods, financial reporting and analysis.
- The other part of the exam or second session includes questions from equity, fixed income, alternative investments, corporate finance, derivatives and portfolio management.
- The CFA level I exam is conducted four times in a year. It is generally conducted in the months of February, May, August, and November.
- All the 3 levels of CFA exam would be conducted in English language only. Also there will be no negative marking for any wrong answer.
- Candidates get an average of 90 seconds to answer a particular question in the level 1 exam.
The table below gives you brief details about the CFA level I exams mentioned above.
| Particulars | CFA Level I Details |
|---|---|
| Exam level | Post graduate |
| Question format | Multiple choice questions |
| Frequency of the exam | Four times - February, May, August, and November |
| Time duration of CFA® Level 1 exam | Total 4.5 hours |
| Sessions | Split into two sessions - each of 2 hours, 15 minutes |
| No. of questions asked | Total 180 MCQs Session 1 - 90 MCQs Session 2 - 90 MCQs |
| Medium of exam | English |
| Medium of exam | No negative markings |
Check: How to become a Financial Analyst
CFA Level 1 Exam Dates
The registration dates and exam schedules for the CFA Level I exam are mentioned below in details in the table chart given below:
| Session | Registration Dates | Level 1 – Exam Dates |
|---|---|---|
| February Session | September 17, 2022 – Nov 8, 2022 | 14–20 February 2023 |
| May Session | August 9, 2022 – Nov 9, 2022 | 16–22 May 2023 |
| August Session | November 14, 2022 – February 1, 2023 | 22 - 28 August 2023 |
| November Session | January 31, 2023 – May 10, 2023 | 11 - 17 November 2023 |
Why is the CFA Course in demand?
CFA or Chartered Financial Analyst is the most popular and well renowned Finance Certification course available in India and is recognized worldwide. The CFA Level I program is the first step to the CFA certificate course. The course offers a vast scope and is in high demand due to the various reasons or benefits mentioned below.
- A Global Certification: The CFA certification offered by the CFA institute is worldwide recognized and is accepted in over 165 countries around the world. CFA Level I is the necessary and important step to becoming a Chartered Financial Analyst and getting a CFA certificate.
- Huge Job Opportunities: After successful completion of CFA Level I, candidates can find lucrative and high profile job opportunities in the private as well as government sectors. One can get various high profile CFA job opportunities such as Investment managers, Portfolio managers, Risk managers or even Chief Financial officers.
- High Salary: CFA Level I offers candidates a wide range of reputed and high profile job prospects in Financial Sectors. The salary after CFA Level I can be anywhere between INR 4,00,000 - INR 40,00,000 per annum which is much more than several other high profile jobs.
- Scope of career advancement: India is considered to be the accounting hub of the world. After CFA level I one can also go for CFA Level II. Most of the Financial MNCs have their company’s operations in India which provides a huge scope and opportunities to the professionals CFA.
- Entrepreneurship and Business Options: After CFA level I, there would be a wide range of job options for the candidates. Also one can become an entrepreneur and set up their own Business. Check: CFA Level I Jobs and Salary
Skills required to pursue CFA Level 1
To pursue CFA Level I program or any level of CFA Course, candidates must possess certain skills and abilities to be professional in this field and tackle problems in their upcoming future. Given below in the table are some of the crucial skills required for CFA Courses for your reference:
| Decision Making Skills | Computer Skills |
| Ability to understand trend | Math Skills |
| Time Management | Integrity |
| Focused Mind | Curiosity |
| Communication Skill | Computer Skills |
CFA Level 1: Jobs and Salary
After successful completion of CFA Level I, candidates can go for the next level which is CFA Level II or can find lucrative and high profile job opportunities in the private as well as government Financial and Investment sectors. One can get various high profile CFA job opportunities in the top-notch companies such as JP Morgan and Co, HSBC, Hindustan Unilever Ltd, etc. and can develop their career as Investment managers, Portfolio managers, Risk managers or even Chief Financial officers.
Apart from jobs one can also start their own Business. The average salary one can expect to earn at the starting of their career can be anywhere between INR 4,00,000 - INR 40,00,000 per annum. Some of the high profile job opportunities along with their job description and average annual salary are mentioned in the table below:
| Job Profiles | Job Description | Average Annual Salary |
|---|---|---|
| Business Consultant | The business consultants are concerned with the different aspects of the business such as the finance ,accounting, marketing, operation, etc.They are concerned with the overall operation and effectiveness of the business | INR 989,000 |
| Market Research Analyst | They are responsible for collecting data from the market from the customers, competitors, etc. They take stock of the entire market conditions and provide the company’s top brass information about the next course of action. | INR 337,000 |
| Investment Manager | Their duty or the main job role of the investment manager is to provide the companies or individual clients with advice regarding the various investment options such as buying or selling of bonds, mutual funds, securities and stock. | INR 13,00,000 |
| Portfolio Manager | Portfolio Managers are responsible for creating and managing the investment portfolio of different clients. Also they try to understand the trend in the market and maximize the clients’ return on investment. | INR 10,86,000 |
| Private Bankers | They help their individual clients to maintain their individual account and financial risks and services. They also sell various financial services of the bank to the individual clients | INR 624,000 |
| Risk Manager | They identify the financial risk that the organization may face in the future and try to find a solution so that they are able to mitigate the risk. They also check the financial risk of new business ventures | INR 998,000 |
Top Recruiters for CFA Level 1
Some of the top companies or organizations that recruits Certified Finance Analysts (CFA) are given below in the table chart:
| JP Morgan and Co | HSBC | Credit Suisse |
| Deloitte | PwC | Earnst and Young |
| Hindustan Unilever Ltd | The Goldman Sachs Group Inc. | Crisil |
| ICRA | SBI Bank | Reliance Industries Limited |
| Axis Bank | HDFC Bank | Emami Agrotech Ltd |
| ITC | ICICI Bank | Aditya Sun Life |
| Bharti Airtel | Citigroup | - |
CFA Level 1: FAQs
Ques. What does a CFA do?
Ans. CFA or Certified Finance Analysts are the professional responsible for conducting research and providing advice considering macro and microeconomics and are relied upon as critical advisors with regard to investment decisions.
Ques. How difficult is CFA?
Ans. According to various reports, the CFA exams are very difficult. However candidates with strong foundation in the various financial and economic concepts can increase their chance of passing the CFA Exam. One should study hard and practice a lot of practice papers as much as possible and utilize their time in a right and useful manner.
Ques. What is CFA Exam eligibility?
Ans. One must have completed their bachelor's degree in any discipline (Science, Arts, or Commerce) from a recognized University. Candidates in the final year of their graduation are also eligible to apply for the CFA level I program. Apart from fulfilling the academic qualifications for the CFA level I program candidates are also required to gain some working experience. Candidates must have gained at least 4 years of working experience in the field of investment market, finance sector or any other relevant fields.
Ques. What is a CFA salary?
Ans. The average salary one can expect to earn at the starting of their career can be anywhere between INR 4,00,000 - INR 40,00,000 per annum which depends on various factors such as Job designation, Region, Company, experience, etc.
Ques. Is the CFA Exam worth it?
Ans. Yes, the CFA certification offered by the CFA institute is worldwide recognized and is accepted in over 165 countries around the world. One can get various high profile CFA job opportunities such as Investment managers, Portfolio managers, Risk managers or even Chief Financial officers.
Ques. Is maths compulsory for CFA?
Ans. Yes, Mathematics is compulsory for CFA. Since, most of the topics or subjects in the CFA exam Syllabus comprises Investment and Economic related topics which has a lot of Statistics and other Mathematics topics. So, one can not pass the CFA exam without Math.
Ques. Is CFA multiple choice?
Ans. Yes, the CFA exam contains Multiple Choice Questions. The CFA exam is splitted into two sessions. There are a total of 180 Multiple Choice Questions (MCQs), each session will have 90 MCQs. Also there will be no negative Marking for any of the incorrect answers.
Ques. How many subjects are there in CFA?
Ans. There are a total of 10 subjects or topics covered in the syllabus of all the three levels of the CFA exam. The subjects covered in the CFA have been categorized or grouped into four different areas which are: Investment Tools, Ethical and Professional Standards, Portfolio Management and wealth planning. Given below are the 10 subjects of the CFA:
- Ethical and Professional Standards
- Quantitative Methods
- Economics
- Financial Reporting and Analysis
- Corporate Finance
- Portfolio Management
- Equity Investments
- Fixed Income
- Derivatives
- Alternative Investments
Ques. Is 3 months enough for CFA Level 1?
Ans. Yes, 3 months are enough to qualify the CFA Level 1. According to the CFA Institute, one should study around 250 hours which is approx 3 hours per day, also one can study more than 3 hours a day to cover the whole syllabus as early as possible and can start practicing sample papers and previous year question papers to qualify the CFA Level I exam.
Ques. How much do you need to score to pass CFA Level 1?
Ans. The Minimum Passing Score (MPS) or the minimum scope required by the candidates to pass the CFA Level I exam set by the CFA® Institute will never be higher than 70%. This means that the highest score bracket for passing a particular subject or topic is 70%-100%, but you do not need to reach that in every topic to pass, as long as you can make up for losses in another topic.
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