BERKELEY SCHOOL OF BUSINESS, ARTS & SCIENCES

Overview

The CFA Level 1 exam is the first of three exams in the Chartered Financial Analyst (CFA) program. It focuses on foundational knowledge in investment management, financial reporting, ethics, and quantitative methods. The exam covers topics such as equity investments, fixed income, derivatives, alternative investments, portfolio management and corporate finance. It emphasizes basic concepts, financial analysis, and professional ethics, serving as an entry point for aspiring finance professionals.

The Chartered Financial Analyst (CFA) certification is a globally recognized credential, designed for finance and investment professionals aspiring to excel in areas such as portfolio management, investment analysis, and wealth management. Regarded as the gold standard in the investment industry, the CFA program equips candidates with a comprehensive understanding of financial analysis, ethical standards, and global investment practices.

Offered by

Awarded by the CFA Institute.

Head office

Headquartered in Charlottesville, Virginia, USA

Members

With over 200,000 members, CFA Institute is a leading global association for investment management professionals.

Offered by

Awarded by the CFA Institute.

Head office

Headquartered in Charlottesville, Virginia, USA

Members

With over 200,000 members, CFA Institute is a leading global association for investment management professionals.

What is the eligibility?

To be eligible for the CFA program, candidates must meet the following criteria:

Education:

Have a bachelor's degree or equivalent, or
Be in the final year of their bachelor's degree program at the time of registration, or
Have a combination of professional work experience and higher education totaling at least four years.

Work Experience:

If not meeting the educational criteria, candidates can qualify with a minimum of four years of professional work experience, which does not have to be investment-related but should involve decision-making and critical thinking skills.

Who can do?

CFA Level 1 — Audience

Anyone who is interested to learn about following concepts can pursue CFA – Chartered Financial Analyst - Level 1:

Ethical and Professional Standards, Quantitative Methods, Economics, Financial Statement Analysis, Corporate Issuers, Equity Investments, Fixed Income, Derivatives, Alternative Investments, Portfolio Management.

Individuals with the following designations:

Investment Banker, Investment Analyst, Investment Advisor, Investment Manager, Investment Counselor, Chief Investment Officer, Investment Firm Manager, Equity Analyst, Portfolio Manager, Fixed Income Analyst, Portfolio Strategist, Portfolio manager, Research Analyst, Investment banker, Investment Consultant, Risk manager, Corporate financial analyst, Chief Executive Officer – CEO, Sales/ Marketing Professional, C-suite, Credit Structurer, Managing Director, Senior Vice President.

Course structure

CFA Level 1

It is organized across 10 topic areas, including Ethics and Professional Standards, Quantitative Methods, Economics, Financial Reporting and Analysis, Corporate Issuers, Equity Investments, Fixed Income, Derivatives, Alternative Investments, and Portfolio Management. The focus is on building a strong understanding of fundamental concepts, analytical tools, and the basics of asset valuation and portfolio management. With a balanced emphasis on theory and practical application, the curriculum prepares candidates for real-world financial decision-making while setting the stage for advanced topics in subsequent levels.

✓ Ethical and Professional Standards (15–20%)
✓ Quantitative Methods (6–9%)
✓ Economics (6–9%)
✓ Financial Statement Analysis (11–14%)
✓ Corporate Issuers (6–9%)
✓ Equity Investments (11–14%)
✓ Fixed Income (11–14%)
✓ Derivatives (5–8%)
✓ Alternative Investments (7–10%)
✓ Portfolio Management (8–12%)

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Lecture plan

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Week 1: Lectures – 8 Hours

Lecture 1: Corporate Issuers (2) +

✔ Organizational Forms: Features of corporate issuers.
✔ Stakeholders: ESG factors, shareholder motives.

Lecture 2: Corporate Issuers (3) +

✔ Corporate Governance: Principal-agent issues, risks, benefits.
✔ Working Capital & Liquidity: Cash cycle, liquidity measures.
✔ Capital Allocation: NPV, WACC, IRR, MM theory.

Week 2: Lectures – 8 Hours

Lecture 3: Financial Statement Analysis (2) +

✔Income Statements:

✔Revenue and expense recognition, nonrecurring items, EPS.
✔Balance Sheets: Intangible assets, financial instruments, common-size balance sheets.

Lecture 4: Financial Statement Analysis (2) +

✔Cash Flows: Direct and indirect methods, free cash flow measures.
✔Inventories: Measurement, inflation impacts, disclosures.

Week 3: Lectures - 8 Hours

Lecture 5: Financial Statement Analysis (2) +

✔Long-Term Assets:

✔Impairment, disclosures, derecognition.
✔Tax Analysis: Deferred tax assets/liabilities, effective tax rates.

Lecture 6: Financial Statement Analysis (2) +

✔Reporting Quality:

✔Earnings quality, accounting warning signs.

✔Financial Ratios:

✔DuPont analysis, profitability ratios, liquidity and solvency measures.

Week 4: Lectures - 8 Hours

Lecture 7: Fixed Income (2) +

✔Fixed Income Basics:

✔Features, cash flows, issuance.
✔Valuation: Prices, yields, term structure concepts.

Lecture 8: Fixed Income (2) +

✔Risk Measures:

✔Duration, convexity, portfolio properties.

✔Credit Analysis:

✔Credit risk, rating factors, seniority.

Week 5: Lectures - 8 Hours

Lecture 9 a): Fixed Income (1) +

✔Securitization:

✔Asset-backed and mortgage-backed securities, risks, and cash flows.

Lecture 9 b): Equity Investments (1) +

✔Market Organization:

✔Financial systems, market types, and participants.

Lecture 10: Equity Investments (2) +

✔Market Indexes:

✔Construction, uses, and weighting methods.

✔Market Efficiency:

✔Forms, anomalies, behavioral finance implications.

Week 6: Lectures - 8 Hours

Lecture 11: Equity Investments (1) +

✔Company Analysis:

✔Business models, competitive positioning, forecasting.

Lecture 12: Equity Investments (1) +

✔Equity Valuation:

✔Dividend discount models, relative valuation measures.

Week 7: Lectures - 8 Hours

Lecture 13: Quantitative Methods (2) +

✔Quantitative Methods:

✔Rates and returns, time value of money.

✔Statistical Measures:

✔Central tendency, dispersion, skewness, kurtosis.

Lecture 14: Quantitative Methods (2) +

✔Probability Concepts:

✔Bayes' theorem, probability trees, expected values.

✔Portfolio Mathematics:

✔Risk, return, covariance, correlation calculations.

Week 8: Lectures - 8 Hours

Lecture 15 a): Quantitative Methods (1) +

✔Simulation Methods:

✔Monte Carlo simulation, lognormal distributions.

Lecture 15 b): Portfolio Management (1) +

✔Portfolio Management:

✔Risk-return basics, efficient frontier, capital allocation.

Lecture 16: Portfolio Management (1) +

✔Behavioral Biases:

✔Emotional and cognitive biases, impact on decision-making.

Week 9: Lectures - 8 Hours

Lecture 17: Derivatives (2) +

✔Derivatives Basics:

✔Features, types of contracts, valuation techniques.

✔Arbitrage and Replication:

✔Put-call parity, cost of carry.

Lecture 18: Alternative Investments (1) +

✔Alternative Investments:

✔Hedge funds, real estate, private capital, digital assets.

Week 10: Lectures - 8 Hours

Lecture 19: Portfolio Management (1) +

✔Risk Management:

✔Risk frameworks, budgeting, governance.

Lecture 20: Ethical and Professional Standards (2) +

✔Ethics:

✔Code of Ethics, Standards of Professional Conduct.

✔GIPS:

✔Key concepts, verification, compliance benefits.

Week 11: Mock Exams (8 hours)

Mock Exam 1: (1) +

✔Full review of Corporate Issuers, Financial Statements, Fixed Income, Equities.

Mock Exam 2: (1) +

✔Full review of Quantitative Methods, Portfolio Management, Derivatives, Ethics.

Learning Methodology

Berkeley offers expertly developed learning materials tailored to meet participants' needs, ensuring comprehensive coverage of the syllabus and optimal exam preparation.

▸ Tailored Material: Guides are designed to cover the entire syllabus, offering full preparation and deep understanding.
▸ In-Depth Content: Unlike superficial outlines, our materials provide fully developed theories and concepts, equipping participants with complete knowledge.
▸ Strategic Study: We help participants prioritize study time by indicating the weight of each topic, allowing efficient focus on crucial areas.
▸ Difficulty Levels: Topics are labeled as "Awareness" or "Proficiency," guiding participants to allocate time based on the required depth of knowledge.
▸ Comprehensive Coverage: Our materials include detailed theory and a glossary of technical terms to clarify complex concepts.
▸ Effective Learning Techniques: Visual aids and memorization techniques ensure long-lasting retention, helping candidates succeed.

Berkeley’s methodologies equip participants with the essential knowledge and tools for both exams and future success.

Lectures

Practice Session

Mock Examination

Berkeley's performance standards

Evaluates and ensure the quality of the training program and all its deliverables. This is measured through the following indicators:

▸ Instructors' experience and style in presenting and explaining topics.
▸ Variety and balance of teaching methods (such as discussions, case studies, mock exams and videos) used in the course to ensure retention and to match the learning objectives.
▸ Level of interactivity.
▸ Feedback from program participants.
▸ Full compliance with Institute standards and guidelines for preparation and study requirements and methodology.
▸ Progress reports from the training program provider.

What are the Exam Information?

Exam Format

* Computer-Based Exams

Part/Module	Exam Format	Exam Duration
CFA Level 1	The exam consists of 180 multiple-choice questions. Morning Session: 90 questions Afternoon Session: 90 questions	Each session lasts for 2 hours and 15 minutes Total exam time is 4 hours and 30 minutes

Exam Dates

CFA Level 1: Offered in February, May, August & November

Passing Criteria

The CFA Level 1 exam does not have a fixed passing score. The CFA Institute determines the Minimum Passing Score (MPS) after each exam based on overall candidate performance. Key points include:

Minimum Passing Score (MPS): Typically ranges between 65%–70%, but the exact score is not disclosed.

Ethics Adjustment: Strong Ethics performance can help borderline candidates pass.

No Negative Marking: Only correct answers count toward the final score.

Relative Performance: Candidates must exceed the MPS for that exam cycle.

It is recommended to aim for at least 70% for the best chance of passing.

Exam Locations

The CFA exams are conducted at over 400 global exam centers across various regions.

CFA – Chartered Financial Analyst - Level 1

Overview

Offered by

Head office

Members

Offered by

Head office

Members

What is the eligibility?

Education:

Work Experience:

Who can do?

Anyone who is interested to learn about following concepts can pursue CFA – Chartered Financial Analyst - Level 1:

Individuals with the following designations:

Course structure

CFA Level 1

Learn More

Lecture plan

Learn More

Week 1: Lectures – 8 Hours

Week 2: Lectures – 8 Hours

Week 3: Lectures - 8 Hours

Week 4: Lectures - 8 Hours

Week 5: Lectures - 8 Hours

Week 6: Lectures - 8 Hours

Week 7: Lectures - 8 Hours

Week 8: Lectures - 8 Hours

Week 9: Lectures - 8 Hours

Week 10: Lectures - 8 Hours

Week 11: Mock Exams (8 hours)

Learning Methodology

Berkeley's performance standards

What are the Exam Information?

Exam Format

Exam Dates

Passing Criteria

Exam Locations

Success Stories

Alumni Benefits

CFA Salary: Is It Worth the Investment?

By Region

By Experience

What you earn

In-depth Knowledge

Ethical Standards

Professional Network

Career Advancement

Global Credibility

Contact Us