Everything You Need to Pass the CFA® Level I Exam

2,000+ Question QBank, Flashcards, and Mock Exams

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The Efficiency of an All-Digital Approach for CFA Exam Preparation

Today’s CFA candidate is ambitious and leads an active life juggling many responsibilities both at work and at home, which is why we designed a CFA preparation tool that gives you exactly what you need to succeed on the CFA Level 1 Exam. With content developed by experienced charterholders and covering all Level I learning outcome statements (LOS), our platform helps you master only relevant CFA concepts, reducing study time. And its flexible, user-friendly digital interface allows you to study anywhere at your convenience, using virtually any electronic or mobile device.

Key Product Features

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2,100+ CFA Level 1 practice questions

  • Modeled after the exam blueprint
  • Covers all Level I learning outcome statements (LOS)
  • Content continuously monitored and updated

Comprehensive explanations

  • Detailed rationales for all answer options
  • Step-by-step problem-solving guidance
  • Practical, professionally-produced illustrations

Performance and improvement tracking

  • Conveniently track your study progress
  • Quickly identify strengths and weaknesses
  • Compare results with your peers
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CFA Level 1 QBank Highlights


Create your own study sets for quick review (graphs, illustrations, etc)


Browse hundreds of pre-filled and ready to use flashcards

Mock Exams

Mock Exams closely replicate the actual CFA L1 exam experience

Customizable Exams

Create customized exams based on your unique study needs

Performance Graphs

Track performance and compare your progress with others

Active Learning

Retain concepts and formulas with our active learning platforms

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Train Your Brain to Retain (and pass!) 
UWorld’s flashcards with spaced repetition enhance your prep by repeating difficult concepts in definitive intervals for optimized memory retention. Our Active-Learning QBank and smart flashcards will ensure you learn the material and commit it to memory. Your superior retention and recall on test day will give you the competitive edge to pass the first time.

Customize Your Study Sessions
Customizable study sessions with spaced repetition are now integrated within the Study section of the QBank, enabling you to use this proven study method with flashcards containing UWorld content.

Easily Create Custom Flashcards
Use our intuitive editing tools to quickly create your own custom decks using images, graphs, tables, formulas, and text. Now you are ready to tackle the areas that YOU need to improve.

NEW! Start Studying Now With ReadyDecks
Browse hundreds of pre-filled and ready to use flashcards that cover the most critical formulas, concepts, and examples across all the chapters.


An Efficient & Flexible CFA Prep Course

With only 24 hours each day to balance your busy lifestyle and pursue your CFA charter, our platform is designed to give you precisely what you need to pass the CFA exam—nothing more, nothing less. Our in-depth explanations, paired with straightforward illustrations and images, for correct and incorrect answers, give you a better understanding of difficult CFA concepts. Our unique active-learning platform focuses on doing and practicing, versus long video lectures and books that become quickly outdated.

Calculator Key-strokes

Use calculator key-strokes to solve complex problems

Easy to Use Platform

Create unlimited practice tests using our web-based functions

Track Performance

Conveniently monitor personal progress and performance

Why choose UWorld CFA / Finance?

A name you can trust

Our comprehensive active-learning approach has helped over 1 million test-takers pass their high-stakes exams.

We are finance experts

The CFA Level 1 Practice questions are written by experienced CFA charterholders who are top financial academics and teaching professionals. 

Detailed explanations

Our unrivaled explanations and content-rich rationales for both correct and incorrect answer choices set us apart.

Designed with you in mind

Our CFA prep course features an intuitive digital interface with advanced note-taking functionality and portability to suit your busy lifestyle. 

Mock Exams: Know When You’re Ready To Take the CFA Level I Exam

  • UWorld’s Mock Exams closely replicate the actual CFA L1 exam experience to help you prepare and boost your confidence on test day.
  • Like the real exam, our mock exams consist of two 2-hour, 15-minute sessions, each with 90 multiple-choice questions spanning multiple subjects and not included in the standard QBank.
  • Switch to CFA Mode and your screen simulates the real Prometric® interface preparing you for the actual test day environment.
  • Identify your development areas and compare your relative ranking to other users. 
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Frequently Asked Questions

The CFA Exam is one of the most critical requirements to achieve the Chartered Financial Analyst® (CFA®), the highest distinction in the investment management profession. The CFA Exam assesses a CFA candidate’s competencies in various subjects governing the finance and investment management industry.
The CFA Exam comprises three levels (I, II, and III) that become more complex from one to the next. Candidates must pass all three levels in succession to earn the CFA designation.
To be eligible for the CFA Exam, candidates must meet one of the following CFA Institute requirements:
  • Obtain a bachelor’s degree or be completing the final year of a bachelor’s degree
  • Have at least four years of full-time professional work experience 
  • Possess a combination of education and work experience that totals at least four years

Composed of 180 multiple-choice questions, the CFA Level I Exam is offered in a single day in two sessions—morning and afternoon. Each exam session lasts 2 hours, 15 minutes (4.5 hours total), and includes 90 questions covering multiple curriculum topics.

Each Level I multiple-choice is either conceptual or requires the candidate to calculate an answer. All questions have three answer choices, with only one being the correct option. Each Level I multiple-choice question is either a question plus statement or a question plus table. Each multiple-choice question offers three answer options: A, B, and C, presented in two basic formats:
  • Sentence completion with three unique choices
  • Questions with three unique choices
The Level I curriculum consists of ten topics across four groupings:
  • Ethical and Professional Standards, 
  • Investment Tools, 
  • Asset Classes,
  • Portfolio Management
Level I focuses on the following ten topics and exam weights:
Topic Exam Weight
Quantitative Methods 8 – 12%
Economics 8 – 12%
Financial Reporting and Analysis 13 – 17%
Corporate Issuers 8 – 12%
Equity Investments 10 – 12%
Fixed Income 10 – 12%
Derivatives 5 – 8%
Alternative Investments 5 – 8%
Portfolio Management 5 – 8%
Ethical and Professional Standards 15 – 20%

Due to its incredible difficulty, it would benefit CFA candidates to study with a third-party CFA prep provider like UWorld, in addition to the Level I CFA curriculum provided by the CFA Institute. It also helps to create a study plan you can keep up with and prepare with a provider that offers:

The short answer is yes, but there’s more to it. Sure, the CFA Institute sends CFA candidates the entire curriculum for their registered level; however, preparing for the CFA Exam using just the CFA Institute curriculum won’t be enough for most candidates.

Such a difficult exam probably warrants taking advantage of all the help you can get. That’s where studying with a CFA prep provider can make all the difference.

The three CFA Exam levels are arguably the most challenging tests you will ever take. Pass rates for Levels I and II remain below 50%, and the 10-year weighted average CFA® exam pass rate for Level I is less than 40%.

With the lowest pass rate of the three levels (around 41 or 42%), it is fair to argue that the CFA Level I Exam is the hardest of the three CFA Exams, especially for CFA candidates without a finance background. The CFA Exam is particularly challenging because most candidates have to balance working with studying for the exam.

The 10-year weighted average CFA Exam pass rate for Level I is less than 40%, which is the lowest among all three exam levels.

The CFA Institute recommends that CFA candidates study at least 300 hours on average to succeed on the exam.

You must register for Level I through the CFA Institute’s website. After completing the registration and your one-time enrollment fee has been processed, you can schedule your exam using the Prometric scheduling tool within your registration dashboard.

CFA candidates must pay a one-time enrollment fee of $450 when registering for the CFA Level I Exam (not charged in subsequent levels). Candidates should also prepare to spend between $700 and $1,000 in registration fees; filing by the early registration deadline will cost you $700, while the standard registration fee is $1,000.

In addition to enrollment and registration fees, CFA candidates should also consider the costs associated with purchasing third-party CFA prep materials.

CFA Level 1 Exam QBank Pricing

Questions about subscriptions/renewals? Click here.

QBank   |    Renewals

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UWorld, LLC is a CFA® Institute Prep Provider. Only CFA® Institute Prep Providers are permitted to make use of CFA® Institute copyrighted materials which are the building blocks of the exam. We are also required to update our materials every year and this is validated by CFA® Institute.
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Renewal Instructions

  •   Please purchase a renewal using the "Renew" option from the My Account page
  •   To qualify for renewal pricing, course must be renewed before it expires
  •   All renewals are effective from the current expiration date and cannot be deferred
  •   Test information cannot be reset (deleted) with renewal unless eligibility criteria is met (see Help page)

Frequently Asked Questions

New Purchase: All new subscriptions go into effect from the time they are activated and not at the time of setup/purchase. A subscription can be activated immediately or any time thereafter. If your initial purchase consists of multiple courses (Qbank, Self-Assessment exam, CCS, etc.), each can be activated individually and independently via your account on our website. This process of activating a subscription after purchase allows you the flexibility to start a subscription when you are truly ready to use it.

We recommend that all subscriptions be activated within 180 days of setup/ purchase. Once a subscription is activated, it cannot be paused or suspended for any reason and will run continuously for the duration of the course material.

Renewal: A renewal is an extension of time to continue access to a current activated subscription. Because a renewal is an extension to an already active subscription, it is effective from the existing expiration date, not from the day of purchase and cannot be deferred to start at a later date/time.

Note: All of our subscriptions are based on the Eastern Time Zone (GMT/UTC -5 hours or New York Time), which may be different than your local time zone. 

Any of our product offerings can be purchased from our website with payment due in full at time of purchase via a credit or debit card with American Express, Discover, MasterCard, or Visa logo.

You will need to register for an account in order to purchase any of our products. Once you have registered for an account or if you already have an account:

  • Log in to your UWorld account
  • Click on the Cart icon at the top of the page and then select your desired product to see a list of available packages and their prices
  • Select the package you wish to purchase
  • Verify your profile information, address, and educational status, then click the Update button
  • Enter your Billing address and credit/debit card information, then click Review Order
  • Verify that the correct product is in your cart and click Place Order
  • A purchase receipt will automatically be sent to your registered email address

If you complete your purchase but do not receive a receipt, please contact the Customer Care Team at [email protected]

You can subscribe to any of our online courses/services using a credit or debit card with a Visa, MasterCard, Discover or American Express logo. After a successful payment, your subscription will immediately be available for activation via your account on our website or available complementary mobile applications.

You can also subscribe via personal check, money order, or demand drafts taken in U.S. dollars. These types of payments should be mailed to us and should include the name of the subscription and the duration, along with the details asked for in the registration form. We will set up your account as soon as we receive your payment and notify you via email of your access credentials. All direct-mail payments must be in U.S. dollars and made payable to:

UWorld, LLC
9111 Cypress Waters Blvd
Suite 300
Dallas, TX 75019

We do not accept cash via mail, currencies other than U.S. dollars or payments via fax.

Individuals purchasing our CPA Review product may finance their purchase using Affirm during checkout process. Your eligibility depends on your credit score and other criteria, as per Affirm’s policies (outlined here). A soft credit check, a credit check that does not affect your credit score, will be performed by Affirm to determine your loan eligibility. You will need a US based bank account to qualify.

All refunds are evaluated on a case-by-case basis for products purchased directly from UWorld. One case has no bearing on another. Refund amounts determined by UWorld are final.

In-App Purchases: We are unable to process any refunds for purchases made via mobile application (in-app). Please contact Apple for all refund/credit requests for Apple in-app

USMLE Step 2 CS, Step 3 CCS, Subject Reviews & Self-Assessment Exams: These subscriptions are non-refundable, non-transferable, and cannot be converted into another subscription.

CPA Review: Students may request to cancel their CPA review product only within 10-days of activation of any of the materials. To qualify for a refund, no more than 10% of the course (lectures, Qbank, or a combination there-of) may have been used per exam section. All CPA Review refunds are subject to a cancellation fee of $75 (for single section purchases) or $250 (for package purchases), plus any applicable shipping charges. No return of merchandise is necessary.

All other Qbanks: Refunds are considered for subscriptions of more than 30 days. Refund amounts are based on the number of days elapsed since the subscription start date or the number of questions used, whichever amounts to a higher deductible.

Example scenarion: An individual purchases a 180-day Qbank subscription and generates a few test blocks equal to 20% of the questions in the Qbank. After 45 days, he/she requests a refund. Because the elapsed duration is greater than the percentage of questions used, the refund amount will be based on a subscription converted to the closest duration (60 days) by deducting the applicable 60-day subscription fee from the refund. In the same scenario, if the individual had used 85% of the questions, the refund would be 15% of the subscription fee paid.

Note 1: A processing fee of 10% (minimum of $10 and maximum of $25) will be applied to all refund amounts.

Note 2: All refunds, pro-rated or otherwise, must be requested within 360 days of original purchase. Refunds for purchases made more than 360 days ago will be issued as non-refundable, non-transferable store credit.

Note 3: Subscribers must notify UWorld of their intent to obtain a refund before activating their subscription (or) during the active duration. If the reset option is used or all of the questions are used, no refund will be allowed (see “I want to reset/delete my Qbank test history (or) start all over again, is this possible?” below for further details). No refunds will be offered for expired subscriptions.

Note 4: For combination package purchases, individual subscription fees will be applied when calculating the refund. If any self-assessment Exam(s) is utilized from a package, the entire purchase is rendered non-refundable.

Note 5: Although access to Qbanks via certain mobile devices is provided as an additional feature, it is not intended to be a replacement for computer access, and no refunds or cancellations will be honored due to user inability to install and/or use the provided software on any mobile device (regardless of whether the device meets the minimum system requirements).

Please use the following steps to purchase a renewal for your subscription:

  • Log in to your account on our website
  • Click on the User Icon in the top right corner of the screen
  • Click on the Renew button corresponding to your subscription
  • Select the Renewal duration you wish to purchase
  • Verify your profile information, address, and educational status, then click the Update button
  • Enter your Billing address and credit/debit card information, then click Review Order
  • Verify that the correct package is in your cart and click Place Order

Upon a successful transaction, you will be sent a confirmation email receipt.

A renewal is an extension of time to continue accessing an active subscription, and it will not start the subscription over, provide a reset, or grant access to additional questions that were not previously accessible. Because a renewal is an extension to an already active subscription, it is effective from the existing expiration date, not from the date of purchase, and cannot be deferred in any way to start at a later date/time.

Please note that to qualify for renewal pricing, you will need to renew the course before it expires. Renewals are not offered to expired subscriptions. If you fail to secure a renewal before the expiration date, you will need to purchase a new subscription at the regular price directly from our website to regain access to the material.

Note: All times and dates displayed for subscription expiration correspond with the Eastern Time Zone (GMT/UTC -5 hours or New York Time), which may be different than your local time zone.

Note: If your initial purchase was a combination package, you will need to renew each active subscription individually. You do not need to renew a course that has not been activated.

You may request to upgrade or downgrade your subscription purchase as long as it has not been activated. If you purchase a combination package, all included subscriptions must be unused. Please be advised that current subscription pricing will apply.

If your subscription has been activated, unfortunately, we cannot upgrade it retroactively. If seeking to downgrade, please refer to our refund policy for available options.

We do not offer custom duration(s) or combination packages other than those outlined on the website. Please refer to our purchase page for currently available subscriptions (including discounted combination packages for some products).

Self-Assessment exam subscriptions are for 14 days each. Subscribers whose active subscription(s) have not expired can purchase renewals from 7 days or more at any time before their active subscription expires. Please refer to the respective course description page for renewal options.

We offer a demo on each of our product pages that contains a sample of the product interface and a few sample questions. We do not offer guest/trial accounts to test our software and view materials.

It is possible to purchase a subscription as a gift for someone else. However, the intended recipient will need to register an account on our website (or have an account registered for them, with their profile information entered accurately). If the user is present at the time of purchase, the purchase can be made from their account on our website using any credit or debit card with a Visa, MasterCard, American Express, or Discover logo.

If the user is not present, or you wish for the gift to be a surprise, please contact Support directly using the contact form to arrange payment for the gift subscription. You will need to provide the user’s registered email address so the account can be located.