CFA® Program Level I Guides

A 12-week intensive plan for Level I of the CFA® Program

By PreparaioEditorial team & sourcesUpdated October 28, 2026

CFA Institute reports that successful candidates study more than 300 hours on average per level. Packed into twelve weeks, that means roughly 25 hours a week, usually next to a job. This plan suits candidates who can move quickly through familiar finance topics.

This guide is independent educational content. Preparaio is not affiliated with, endorsed by, or reviewed by CFA Institute. Dates and rules change; check CFA Institute's pages for your window.

Contents

Who the 12-week plan suits

A finance degree or work in accounting, banking or audit shortens topics such as Financial Statement Analysis. It does not shorten Ethics or exam technique. CFA Institute warns against anyone who promises you can prepare in fewer than 300 hours; this plan does not beat that figure, it compresses it. If you cannot commit about 25 hours every week, choose the six-month plan.

Before Week 1: registration, calculator, PSM

Deadlines fall well before the window. For February 2027 (Level I exam dates 22–28 February), registration closes on 5 November 2026 and the scheduling deadline is 10 November 2026, so you usually register and book before the plan starts.

Register and pay, then book a Prometric appointment; seats are first come, first served.
Use an approved calculator (TI BA II Plus or HP 12C family) from day one.
Reserve 10–20 hours for a Practical Skills Module; results are only released after one is completed.

The weekly rhythm

Plan 25–30 hours in fixed slots.

Weekdays: new material, with questions on it the same day.
Weekend: a review block and 30 timed questions in 45 minutes (about 90 seconds each).
Daily: 15 minutes of Ethics or formula flashcards; one evening off.

Weeks 1–4: session 1 topics

Quantitative Methods was reorganised for 2027, with a new reading on data science and AI, so do not skip it even if you know statistics.

Week 1: Quantitative Methods (11–14%).
Week 2: Economics (6–9%) and Corporate Finance (6–9%).
Weeks 3–4: Financial Statement Analysis (11–14%), IFRS unless a question says otherwise.

Weeks 5–8: session 2 topics

Equities was substantially updated for 2027; avoid older material for it.

Week 5: Equities (11–14%). Week 6: Fixed Income (11–14%).
Week 7: Derivatives and Risk Management (6–9%), Alternative Investments (6–9%).
Week 8: Portfolio Construction (8–12%) and a full Ethics pass (10–15%).

Weeks 9–11: review and mocks

The two mock exams in CFA Institute's Learning Ecosystem are released about 60 days before each window. Sit each one under real timing: two sessions of 135 minutes.

Week 9: first mock, then two evenings of error review by topic.
Week 10: fix weak topics by weight; second mock; finish the PSM.
Week 11: one more full practice exam, then targeted sets.

Week 12: taper

Short mixed sets, error log and formula notes; no new material in the last two days. Pack your passport and calculator and plan to arrive 30 minutes early.

If you fall behind

Trim low-weight topics before Ethics or mocks. Decide early: from February 2027 there is no paid deferral, rescheduling within the window costs USD 250 plus taxes, and candidates who do not sit forfeit their fees.

Frequently asked questions

Is 12 weeks enough?

For some candidates with a strong finance background and 25–30 hours a week. It is not a shortcut, and no plan can guarantee a result.

Do I need to register before starting?

Usually yes. For the 2026–2027 windows, Level I registration closes roughly three months or more before the window, and the scheduling deadline follows within about a week.

When should I do the PSM?

Ideally before the exam. It must be completed by the results release date; otherwise the result is voided.

What if my first mock goes badly?

Use it as a map: sort misses by topic and cause, fix high-weight gaps first, and check progress with the second mock.

Sources & currency

Exam version: CFA® Program Level I, curriculum 2027 (from February 2027) (valid from 1 February 2027)
Editorial check: Source check by the Preparaio editorial team (28 October 2026)
Author: Preparaio RedaktionEditorial team, fact-checking against official primary sources
Reviewed by: Source-checked by PreparaioSource comparison with the exam providers' own pages
Fact-check status: Checked against official primary sources (28 October 2026)
Content version: 2026-10-28

How we check: Every exam-relevant fact is compared with the exam providers' official pages (g.a.s.t./TestDaF-Institut, BAMF, ETS, IELTS Partners, telc). The check is editorial, supported by AI and automated test gates; it is not a review by certified examiners.

The hard exam facts in this article were verified against the official primary sources linked below on the date shown. This is not a review by an examination body and does not replace information from your test centre. Fees, dates and local procedures are set by the test centres themselves.

Official primary sources

Level I exam — CFA Institute · cfainstitute.org · official primary source · checked on 28 October 2026
Practical skills modules — CFA Institute · cfainstitute.org · official primary source · checked on 28 October 2026

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