The CFA Qualification
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THE EXAM SCHEDULE- Level 1 Only
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December 5, 2020 (the last paper based exam)
Paper-Based Testing:
The Level I paper-based exam consists of 240 multiple choice questions, split between two 3-hour sessions.
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Candidates must take both sessions in order to receive an exam result.
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Morning session (3 hours): 120 multiple choice questions, covering all topics
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Afternoon session (3 hours): 120 multiple choice questions, covering all topics
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For more information on the Level 1 exam this December, go here.
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2021: February, May, August, and November
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Computer-Based Testing:
The Level I computer-based exam consists of 180 multiple choice questions, split between two 135-minute sessions. There is an optional break between sessions. Candidates must take both sessions in order to receive an exam result.
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First session (2 hours, 15 minutes): 90 multiple choice questions, covering all topics
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Second session (2 hours, 15 minutes): 90 multiple choice questions, covering all topics
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For more information on exam schedules and how you need to equip yourself (passport, calculator, attire)