2021 Level I Exam Changes

CFA Institute changed the format and dates of the Level I CFA exam effective in 2021. The exam moved from its traditional paper-based format to computer-based with quarterly exam windows in February, May, August, and November. Each exam window is open for no more than 7 days. The number of questions also reduced from 240 to 180 with a morning and afternoon session. Each session has 90 questions and is 2 hours and 15 minutes long.

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“Kaplan really helped structure my study plan.”

Kaleigh S., 2014 Level I

"Kaplan Schweser prepared me to pass the exam the first time around. That is priceless."

Christopher M., 2016 Level II

“Kaplan really helped structure my study plan.”

Kaleigh S., 2014 Level I

"Kaplan Schweser prepared me to pass the exam the first time around. That is priceless."

Christopher M., 2016 Level II

“Kaplan really helped structure my study plan.”

Kaleigh S., 2014 Level I