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CFA Level 1 Test BreakdownEarning the title of CFA, or Chartered Financial Analyst, is one of the most prestigious achievements a person in the fields of finance and investing can attain.To do so, you'll need to pass some of the most difficult exams a person can take. The first one is the CFA Level 1 exam, which is offered by the CFA Institute, the governing body of Chartered Financial Analysts worldwide.It's offered twice each year-in June and December, and you can take it at testing centers all over America . The cost to take the CFA Level 1 exam is $455 if you register before February 15, 2007, and it's $690 if you register after that but by March 15,2007 . In addition, you'll have to apply for membership in the CFA Institute in order to take the test, which will be an additional $390 to $455, depending on the date by which you apply. Not just anyone can apply for membership and to take the test-you must possess a bachelor's degree, or be in the last year of earning your bachelor's, or have four years of related work experience, or four years of combined college and related work experience to be accepted. The CFA Level 1 is an exhaustive test, covering all aspects of money, finance, and investing, which consists of 240 multiple choice questions. The test is divided into two three hour sessions, with a two hour lunch break in between. You will need to bring either a Texas Instruments BA II Plus calculator, or a Hewlett Packard 12C calculator. These are the only two calculators permitted at the CFA Level 1 exam. There is no set minimum passing score, and the CFA Institute won't tell you your score-they only give grades of Pass or Fail. And since only about 40% of test takers pass, and with the huge investment of time and money involved, you'll want to study and prepare for the CFA Level 1 as diligently as possible. Click Here for
CFA Test Information
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