PASS FINANCIAL ANALYST LEVEL I 2026

Level I exam tips

Here are some practical tips to help you perform your best on the CERTIFIED FINANCIAL ANALYST Level I exam.

• Have a strategy in place, plan your revision from the start.

• Do not skip Ethics – it’s easy points and can be done everyday whilst on the train to work or when you have some free time, look through the Level 1 Ethics cheat sheet on your phone for some quick revision.

• Focus on the heavier weighted topics, it is especially important in Level 2 that you focus on heavy weighted topics as you cannot chose questions in the exam.

• Leave enough time for practice questions and mock exams! You should always give yourself enough time around 2 weeks minimum if you have background like myself to tackle questions.

• Do not revise the night before, the exam day is long and you will just get exhausted. Rest and recover.

• Financial Statement Analysis: Questions on this topic are based on International Financial Reporting Standards (IFRS), unless otherwise noted. If a question references U.S. GAAP, this will be explicitly stated.

• No penalty for guessing: There is no penalty for incorrect answers, so be sure to answer every question.

• Know your calculator: Make sure you know how to use the calculator features needed to solve the formulas and examples shown in the curriculum. Familiarity with your calculator will save valuable time during the exam.

• Dress for comfort: There’s no official dress code, but dressing in layers will allow you to adjust to the room temperature and remain comfortable during the exam.

• Exam hardware and software: Make sure you’re aware of how hardware and software at test centers might affect your experience.

• Proctor assistance: During the normal course of the exam, candidates may find they need assistance from proctors.

Level I curriculum topics and weights

The curriculum is organized into topics, and each topic contains learning modules. There are learning outcome statements at the beginning of each learning module.

Session 1: Topic Exam weight

1 Ethical and Professional Standards 15-20%

1 Quantitative Methods 6-9%

1 Economics 6-9%

1 Financial Statement Analysis 11-14%

1 Corporate Issuers 6-9%

Session 2: Topic Exam weight

2 Equity Investments 11-14%

2 Fixed Income 11-14%

2 Derivatives 5–8%

2 Alternative Investments 7-10%

2 Portfolio Management 8-12%