CFA Level I Course: Topics, Mock Exams and a Practical Study Plan

A CFA Level I course needs to connect a broad investment syllabus with regular practice. Reading the volumes once is a useful beginning, but an exam question may require you to choose the right formula, interpret the result and distinguish a plausible alternative under time pressure. A study plan should make room for all three.

The Exams Academy CFA Level I course brings the ten topic areas into one $299 package, with 103 study units, including a quantitative reference appendix. This guide explains the structure, what the mock exams provide and how to use the materials alongside your official candidate resources.

What the CFA Level I exam tests

Level I combines investment knowledge with the ability to apply it to short questions. Its subject range includes quantitative methods, economics, corporate finance, financial statement analysis, equities, fixed income, derivatives and risk management, alternative investments, portfolio construction, and ethical and professional standards. These topics support one examination rather than ten separate qualifications.

The official Level I exam information describes 180 multiple-choice questions divided into two sessions of 90 questions. Each session lasts 135 minutes. A question offers three choices, questions are equally weighted, and incorrect answers do not incur a separate penalty. Verify the arrangements for your registered sitting in your candidate account.

That format makes pacing part of preparation. An average of 90 seconds per question is a useful planning reference, but individual questions take different amounts of time. A short conceptual distinction may take less time than a calculation. Practise deciding when to move on, then return to an uncertain answer if time remains.

How the ten volumes fit together

The volumes organize a connected body of knowledge. Quantitative methods supports return measurement, discounting and statistical interpretation. Financial statement analysis provides inputs for evaluating companies and securities. Equity and fixed-income valuation turn those inputs into estimates whose reliability depends on the assumptions behind them.

Portfolio topics then ask how individual investments combine, how investor objectives and constraints affect decisions, and why diversification can change risk. Ethics runs through research, recommendations, trading, client relationships and professional responsibilities. Treating it as an isolated collection of definitions misses much of its practical purpose.

Our course keeps these topic divisions visible while selling Level I as one course. The 103 study units comprise 102 learning modules and a reference appendix. Summaries, flashcards and quick-reference facts let you approach the same topic in different ways. The English learning materials serve the global curriculum; there is no separate country-specific Level I syllabus in this product.

Build a study cycle that reveals mistakes

Begin a module by reading its summary and checking unfamiliar terminology against your official materials. Work through the numerical examples with your calculator. Write down the assumption behind each calculation, such as whether a cash flow arrives at the start or end of a period. A correct formula used with the wrong timing can still produce the wrong answer.

Next, use flashcards without looking at the answer first. The course includes 1,914 flashcards and 1,209 quick-reference facts. Use the cards to retrieve definitions and distinctions; use the facts to consolidate formulas, relationships and common traps. Neither method replaces working through an unfamiliar application.

After practice, keep a short error log. Separate missing knowledge from calculation errors, misunderstood wording and time pressure. For each mistake, record the reason and a corrective action. “Review duration assumptions” is more useful than “revise bonds.” Revisit the question after a gap, and explain why the alternatives fail rather than remembering an answer letter.

Use the five mocks for different purposes

The course provides Foundations, Applied, Advanced, Final Examination Practice and Mixed mocks. Each paper contains 180 questions across the ten topics, grouped into two 90-question sections. The first four contain 720 original questions. The Mixed paper draws 45 from each of those four, giving 900 question placements, rather than 900 unique questions.

Start with a diagnostic purpose: identify the topics that need attention. As coverage improves, complete a paper with fewer interruptions and track your pacing. The course timer runs continuously for 270 minutes; it does not lock each section into a separate 135-minute session. Use the section boundary to practise the recommended pacing, and distinguish this practice setup from the official examination interface.

Review the explanations after a mock, including answers you guessed correctly. A score can hide weak reasoning. The course’s 70% mastery target is a study benchmark, not the official minimum passing score. Consistent reasoning across topics is more informative than a single familiar-paper result, especially when revisiting the Mixed mock.

Give calculations and ethics deliberate attention

For numerical topics, practise a repeatable sequence: identify the requested quantity, select the method, enter consistent units and test whether the result makes sense. For example, a yield entered as a percentage instead of a decimal can produce a large error even when the formula is correct. Rounding too early can also move a result toward a distractor.

For ethics, identify the person’s role, the relevant duty, the information available and the proposed action. Similar scenarios can turn on one fact: whether permission was obtained before acting, whether a relationship creates a conflict, or whether disclosure alone addresses the problem. Avoid replacing the actual standard with a personal assumption about what seems fair.

Use the official curriculum outline to check the learning outcomes for your sitting. Also consult CFA Institute’s errata resources. Corrections can affect examples or answer explanations, so keep your revision linked to the current official guidance.

What the course includes and what stays separate

The $299 price covers the Level I preparation package: all ten topics, study summaries, flashcards, reference facts, course-grounded tutor support and the five mocks described above. Explore the course page to try the preview and inspect the topic structure before enrolling.

CFA Institute registration, official learning-system access and Practical Skills Modules are separate from this purchase. The course also excludes prerequisite courses, Levels II and III, and audio lessons. Exams Academy provides independent preparation; course completion does not award the CFA charter or replace any requirement set by CFA Institute.

Choose a realistic weekly rhythm that leaves time for both initial learning and repeated review. A useful plan should be adjustable: when a mock exposes weak understanding, return to that module, solve fresh applications and check the reasoning again. Progress comes from correcting the cause of an error, not simply accumulating completed pages.