Are you planning to appear for a CFA level 1 exam? To catapult your career in finance and investment banking? Then you need to know what the CFA program entails. This is a professional certification offered by the American-based CFA® Institute that helps you build your career in the financial services and capital markets arena. It has 3 levels, each consist of a 6 hour exam. The first exam is usually administered in the first Saturday of June and December and level 2 and level 2 exams are offered in first Saturday of June.
Before passing all three levels of the exam candidates must have:
- 4 years of work experience
- 4 years of total experience combination of education and work
Along with this, the candidates must
- Be a CFA institute Member or
- Local CFA member society membership applicant
After passing the exam, the CFA candidate who has professional experience as mentioned above is eligible to receive the Chartered Financial Analyst designation.
Once your CFA level I examination is over, all aspirants will receive their results within 60 days of writing the exam by email, along with the summary of their performance in the exam. The below table will help you to how “CFA LEVEL 1” exam is graded, how the result sheet looks like and how to analyze your results.
|Alternative Investments||8||0 – 4||5||6 – 8|
|Corporate Finance||20||0 – 10||11 – 14||15 – 20|
|Derivatives||12||0 – 6||7 – 8||9 – 12|
|Economics||24||0 – 12||13 – 16||17 – 24|
|Equity Investments||24||0 – 12||13 – 16||17 – 24|
|Ethical and Professional Standards||36||0 – 18||19 – 25||26 – 36|
|Financial Reporting and Analysis||48||0 – 24||25 – 33||34 – 48|
|Fixed Income Investment||28||0 – 14||15 – 19||20 – 28|
|Portfolio Management||12||0 – 6||7 – 8||9 – 12|
|Quantitative Methods||28||0 – 14||15 – 19||20 – 28|
The first column indicates all the topics that are covered in CFA Level 1 exam. Second column, Max Pts, and in third, fourth and fifth column indicates maximum scores that you have scored in each section. For example, if the score is above 70% in Portfolio Management, and you are aware of the fact that you had on an average marked 10 questions correct, then you can give yourself 10 marks. But if the score is 51-70%, then you can give 7 or 8 marks to you depending upon your exam performance and if it is below 50%, then can give yourself 5 or 6 marks.