How to clear the first level CFA exam bravely?

Posted by Amdee on April 9th, 2021

The CFA certification is granted by the CFA Institute, which is also responsible for the assessments that candidates must provide. It is designed for professionals who want to certify their proficiency in finance. The CFA Certification is the darling of large corporations and the holder’s career scope covers investment companies, hedge companies, banks, insurance companies, financial consulting and much more.

As you will see, passing the CFA exam and being able to hold the title of Chartered Financial Analyst is no easy task. To give you an idea, it is estimated that only 1 in 5 candidates successfully complete all the way to the prestigious title of Chartered Financial Analyst. However, those who do will reap benefits. One concerns the scope of areas to work, as the CFA program covers several prominent sectors, such as banks, industries, financial markets and the technology sector. All of these industries value the financial sector in their business and consider CFA certification to be a valid credential that demonstrates the professional's capabilities.

It is precisely for this reason that the CFA designation differentiates and distinguishes the holder in the eyes of professionals and investors. This is because the CFA professional proved his ability to withstand rigorous tests, showed a learning capacity and was seriously committed to following his professional life according to high ethical standards.

In India, CFA Certification is not required, although there are areas of the financial market where being a Chartered Financial Analyst is much more necessary, such as: portfolio management and research (stock analysis), IB (Investment Banking) professionals M&A (Mergers and Acquisitions), consultants and brokers.

As you might imagine, for most people the most difficult part is passing the three exam levels, which are:

• The Level I exam consists of basic questions of knowledge and understanding geared to investment tools. Some questions will require analysis.
• The Level II exams emphasize more complex analysis, along with the focus on the valuation of assets.
• The Level III exams require synthesis of all the concepts and analytical methods in a variety of applications for effective portfolio management and wealth planning.

Requirements for the CFA Certification exam

To register for the Level I exam, a candidate must have one of the following:

• Graduation: bachelor's degree (or equivalent) or proof of being in the last year of the bachelor's program (important: to register for the Level II exam, it will be necessary to have completed the bachelor's degree), or
• Work experience: four years of professional work experience (need not be related to investment), or
• A combination of professional work experience and education that totals at least four years (part-time positions are not qualified and the total of four years must be accumulated before enrollment).

The exam for the first level is taken twice a year, in June and December, while the second and third levels are taken only in June. The total pass rate on all exams is about 40%, and after passing all three exams the title of CFA Charter holder was obtained.

In order to clear the CFA level 1 examination, you have to attempt 240 questions in all which are divided in 2 sessions: 120 questions are asked in morning session and other 120 questions are asked in evening session. On an average, CFA aspirants get 1.5 minutes to attempt one question. Each question will have 3 options from which you have to make the right choice. You can attempt every single question as there is no negative marking. With the help of CFA level 1 mock exam, you can prepare for the real CFA level 1 exam easily as you will get the similar interface exact matching to the CFA level 1 test.