Before you register for CFA Level I: a ten-point readiness check

Most expensive Level I mistakes are not about finance. They are about names, dates and rules that were checked on exam morning instead of on a quiet evening.

Why check before you pay

Registration is the point where the cost becomes real. Early registration for Levels I and II is US$1,140, and standard registration is US$1,490. A moved appointment costs US$250 inside a window, and a missed one loses the fee. A small error found early costs nothing, and the same error found late costs a window.

Work through these ten points, writing a yes or a to-do beside each.

1. Do you qualify?

You qualify for Level I with a bachelor's degree, as a final-year student within 23 months of graduation, or with 4,000 hours of work and education over at least three sequential years. Check the exact wording on cfainstitute.org for your case, and gather the documents that prove it.

2. Is your passport valid, and does the name match?

An international travel passport is required, and your registered name must match it exactly. A shortened first name can cost a candidate the exam fee. Compare spelling, order and spacing between your passport and your registration, and make sure the passport will not expire before the exam.

3. Have you chosen your window?

Level I runs four times a year, usually in February, May, August and November, so pick a window that gives you at least five to six months of steady study and avoids your busiest work season. Remember that a retake cannot be in the following window.

4. Will you register early?

Early registration saves US$350 per level. Note the early deadline for your window and put a reminder a week before. Remember there is no separate enrolment fee.

5. Do your weekly hours fit the plan?

Divide 300 hours by your real weekly hours. At 10 hours a week the plan is 30 weeks, and at 15 hours it is 20 weeks, with one buffer week for every eight. If the result passes your window, choose a later one.

6. Do you know what the exam looks like?

Level I has 180 three-option multiple-choice questions in two sessions of 135 minutes, about 90 seconds each, with no penalty for wrong answers. Know the format before you start, so practice matches the exam.

7. Do you have an approved calculator?

The Texas Instruments BA II Plus (including the Professional) and the Hewlett Packard 12C (and its listed editions) are the two authorised models. Buy one now and practise on it.

8. Does your material match the exam year?

If you sit Level I in 2027, check that your materials follow the 2027 outline: Ethics at 10 to 15 per cent and Quantitative Methods at 11 to 14 per cent. Notes written for 2026 have different weights.

9. Does your budget cover more than the fee?

The total for all three levels is US$3,520 to US$4,570 in registration fees alone, plus local tax, materials, a calculator, a possible retake and membership dues later. Keep a retake reserve, and ask your employer about sponsorship before you spend your own money.

10. Is your plan written down?

Write one page: your goal, your window, your weekly hours, your stage dates, your main study source and your review dates. Add the practical skills module, which you should complete early, because results wait for it.

What a completed check looks like

You should be able to say, in one breath: "I qualify through X, my passport matches, I sit in window Y, I register by this date, I study this many hours a week from this start date, with this calculator, this material and this reserve." If you cannot, one of the ten is missing.

If one point fails

Fix it before you pay. If it is the hours or the window, move the window. If it is the name, fix it with CFA Institute. If it is the budget, delay a level rather than start without a reserve. Waiting a window with a plan is cheaper than starting without one.

Mark the ten points

Print the ten points and mark each one. Do the three quickest first: passport name, early deadline and calculator.