Chartered Financial Analyst (CFA) Level 1 Exam Requirements

Securities Training Corporation has trained 1.5 million experts in the financial industry since 1969. If you’re ready to pursue your Chartered Financial Analyst® designation – the gold standard in the investment industry – our CFA exam prep will help you pass all three exams with confidence.*

After enrolling in the CFA Program with the CFA Institute and registering for the Level I Exam, you’ll be required to pass three exams in consecutive order, achieve qualified work experience and submit reference letters before applying to become a regular member of the CFA Institute. Upon approval, you’ll become a CFA charterholder.

Chartered Financial Analyst Requirements

Step 1: Meet minimum standards described in A or B:

  1. Have a bachelor’s (or equivalent) degree or be within 11 months of graduation before sitting for the exam
  2. Have 4,000 hours of combined professional work experience and/or higher education

Step 2: Enroll in the CFA Program with the CFA Institute.

Step 3: Review scheduling, seat availability, rescheduling, deferrals and cancellations details.

Step 4: Learn more about scholarship options, if needed.

Step 5: After you complete the registration process and your payment is processed, you will see the “schedule your exam” option in your CFA Program tile. You will be taken to the Prometric scheduling tool which lists available testing dates and times. (The Level I exam is offered six times per year.) You must complete this step before the scheduling deadline. If you don’t receive a confirmed date and time, you are not successfully scheduled for an exam. You can confirm your appointment here.

Step 6: Purchase a study program from STC. We have more than 50 years of experience and have trained more than 1.5 million financial professionals worldwide.

Step 7: Invest approximately 300 hours into exam preparation.

Step 8: Pass CFA Level I exam. This rigorous exam has a 10-year average pass rate of 41%.

Step 9. Repeat process for CFA Level I exam if you didn’t pass; move on to Levels II and III if you passed Level I. Exams must be passed in order.

Step 10: After passing all three exams and complete 4,000 hours of professional work experience in the investment decision-making process (accrued before, during or after passing CFA Program exams) in a minimum of 36 months.

Step 11: Apply to CFA Institute as a regular member and provide professional references. After your membership is approved, you will receive your CFA charter.

Step 12: Join a local society with an affiliate membership (required).

* STC solution for CFA Exam Levels II and III coming soon.