CFA Level 1 Topic Weights

CFA level 1 / Topics / Weights

The table shows the weights for all CFA level 1 topics for Dec 2018 candidates: [June 2019 candidate? See here ]


As you can see the most important topics are:

  • Financial Reporting and Analysis (FRA),
  • Ethical and Professional Standards (Ethics), and
  • Quantitative Methods (QM).

Read more about 3 most important CFA level 1 topics

You should devote around 50% of your study time to these three topics.

Note that the topic weights on your exam may slightly differ from the topic weights given above.

See what you need to know about CFA level 1 topics

3 hardest CFA level 1 topics: what are they & why?

Are there any easy topics in CFA level 1 exam?

The Most Probable Number Of Questions
for each exam session (Dec 2018)

ETH = 18

FRA = 24

DI = 6

PM = 8

QM = 14

CF = 9

FI = 12

TOTAL = 120 questions

ECO = 12

EI = 12

AI = 5

1.5 minute per question

IMPORTANT! The whole CFA level 1 exam includes 240 questions, 120 per each exam session.


June 2019 CFA Topic Weights

As of June 2019, CFA topics weights change as shown in the table below:


What it means is that in your exam, you can expect:

  • the highest number of questions for Ethics and FRA (18 per topic for each exam session),
  • similar number of questions for QM, Eco, CF, EI, and FI (12-13 per topic for each exam session),
  • also several questions for DI, AI, and PM (7-8 per topic for each exam session).

IMPORTANT! Even though topic weights change, the difficulty of topics stays pretty much the same.

Posted in: