Why 300 hours and 20 weeks?
CFA Institute says successful candidates report spending over 300 hours on average per level. At 15 hours a week, 300 hours takes 20 weeks. If you can only manage 10 hours a week, stretch the same plan to 30 weeks; at 20 hours, compress it to 15. See how long to study for CFA Level I for the trade-offs.
How should the time be weighted?
By the exam outline. CFA Institute's 2027 Level I outline gives these ranges (check the outline that applies to your window on CFA Level I explained):
- 11-14%: Quantitative Methods, Financial Statement Analysis, Equities, Fixed Income
- 10-15%: Ethical and Professional Standards
- 8-12%: Portfolio Construction
- 6-9%: Economics, Corporate Finance, Derivatives and Risk Management, Alternative Investments
The plan below gives two weeks to each of the five heaviest topics and one week to each of the others.
What does the 20-week plan look like?
Phase 1: learn every topic (weeks 1 to 15, about 225 hours). Read, take notes, and finish each week with practice questions on that week's topic only.
| Week | Topic |
|---|---|
| 1-2 | Quantitative Methods (learn the calculator alongside it) |
| 3 | Economics |
| 4-5 | Financial Statement Analysis |
| 6 | Corporate Finance |
| 7-8 | Equities |
| 9-10 | Fixed Income |
| 11 | Derivatives and Risk Management |
| 12 | Alternative Investments |
| 13 | Portfolio Construction |
| 14-15 | Ethical and Professional Standards |
Phase 2: mixed review (weeks 16 and 17, about 30 hours). Mixed question sets across all topics. Track your accuracy by topic and spend most of the time on the weakest three.
Phase 3: mock exams (weeks 18 to 20, about 45 hours). At least two full 180-question mocks under exam timing (two 135-minute sessions with a break), each followed by a review session as long as the mock. In the final week, revise formulas and Ethics, and rest the day before.
Why this order?
- Quantitative Methods first, because time value of money, statistics and the calculator keystrokes reappear in Fixed Income, Equities, Derivatives and Portfolio Construction. Our free BA II Plus guide helps here.
- Financial Statement Analysis before Equities and Corporate Finance, because valuation leans on reading statements.
- Ethics near the end, because its rules are detailed and easy to forget, and it carries a heavy weight. A dedicated block close to the exam keeps it fresh; a few Ethics questions every week from the start help too.
How do you keep the plan on track?
- Fix the hours in your calendar, for example two hours on four weekday evenings and seven hours at the weekend.
- Add one buffer week before Phase 3 (21 weeks in all) for illness, work peaks or a topic that runs long. If you never need it, use it for more mocks.
- Measure, do not guess. Your accuracy by topic on mixed sets and mocks tells you where the next hour should go.
- Do not skip the review of a mock. Reading why each missed answer was wrong is where much of the learning in the last weeks happens.
How do you build a plan for your own date?
The free study plan generator takes your exam date and spreads the 2027 Level I topics across the weeks you have, weighted the same way. Pick your window from CFA exam dates, and take the free 30-question mini mock in week one to see which topics need the most time.
Frequently asked questions
How many weeks do I need to study for CFA Level I?
About 20 weeks at 15 hours a week, to reach the 300 hours CFA Institute says successful candidates report. At 10 hours a week, plan about 30 weeks.
Which CFA Level I topic should I study first?
Quantitative Methods, because its tools (time value of money, statistics and the calculator) are used across Fixed Income, Equities, Derivatives and Portfolio Construction.
How many mock exams should I take for CFA Level I?
At least two full 180-question mocks under exam timing in the last three weeks, each followed by a full review of every missed question.
When should I study Ethics for CFA Level I?
In a dedicated block near the end of the learning phase, so the detailed rules are fresh on exam day, with a few practice questions each week before that.
Sources
Figures that change by year were read from these pages on 19 October 2026. Fees, dates and rules can change: check the source before you register.