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Level I CFA® Exam

More insights. Clear direction. Better results.

Over the last 30 years, we’ve mastered how candidates earn the CFA® charter and have designed a program that works. No guessing where to begin, what to study next, or how you’re progressing. Let Schweser be your guide to passing the CFA exam.

December 2020 Level I Exam

Exam Day: December 5, 2020

February 2021 Level I Exam

Exam Window: February 23–March 1, 2021

Still deciding when to sit for the CFA exam?

With changes coming to the Level I format of the CFA exam, candidates are given the option to sit for either the traditional paper-based exam or the new computer-based test. If you want the fastest path to taking the Level II exam, or the option to retake the Level I exam with the same curriculum, we recommend registering for the December 2020 paper-based exam. We understand that each candidate’s circumstances are unique, so we’ve put together the facts below to help you determine the path that’s right for you.

December 2020 Exam

  • Exam day is December 5, 2020
  • Paper-based test with 240 multiple-choice questions
  • Candidates who pass can sit for the June 2021 Level II exam
  • Candidates who need to retake the exam can sit in May 2021

February 2021 Exam

  • Exam window is February 23 to March 1, 2021
  • Computer-based test with 180 multiple-choice questions
  • Candidates who pass can sit for the June 2022 Level II exam
  • Candidates who need to retake the exam can sit in August 2021

Want more details? We’ll break it down for you…

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NEW for 2021 Level I
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