CFA® Program Level I study planner

Your exam and your time

Exam window

Window: 11–17 May 2027 (check the official website). The plan counts to the first day of the window.

Start of the plan

Study hours a week

An example – enter what your week really allows.

Benchmark, hours in total

300 is the minimum two prep and careers websites, Soleadea and 300Hours, suggest planning for Level I (secondary sources, see Sources).

How confident are you in each topic area?

“New to me” gets 1.5 times the standard learning time, “Confident” half of it.

Ethical and Professional Standards

Quantitative Methods

Economics

Financial Statement Analysis

Corporate Issuers

Equity Investments

Fixed Income

Derivatives

Alternative Investments

Portfolio Management

27weeks to 11 May 2027

Meets the benchmark

27 weeks × 12 hours = 324 hours, 24 hours above the 300-hour benchmark.

Learn: 14 weeks · Catch-up: 2 weeks · Review: 7 weeks · Mock exams: 4 weeks · then 3 days of light review before the exam.

Learning time by topic area
Topic area	Hours	Weeks
Ethical and Professional StandardsSome background	16.8	Weeks 1–2
Quantitative MethodsSome background	16.8	Weeks 2–3
EconomicsSome background	16.8	Weeks 3–5
Financial Statement AnalysisSome background	16.8	Weeks 5–6
Corporate IssuersSome background	16.8	Weeks 6–7
Equity InvestmentsSome background	16.8	Weeks 8–9
Fixed IncomeSome background	16.8	Weeks 9–10
DerivativesSome background	16.8	Weeks 10–12
Alternative InvestmentsSome background	16.8	Weeks 12–13
Portfolio ManagementSome background	16.8	Weeks 13–14

Phases
Phase	Weeks	Dates
Learn	Weeks 1–14	31 October 2026 – 5 February 2027
Catch-up	Weeks 15–16	6–19 February 2027
Review	Weeks 17–23	20 February – 9 April 2027
Mock exams	Weeks 24–27	10 April – 7 May 2027

Week-by-week plan
Week	Dates	Focus
1	31 October – 6 November 2026	LearnEthical and Professional Standards (12 h)
2	7–13 November 2026	LearnEthical and Professional Standards (4.8 h), Quantitative Methods (7.2 h)
3	14–20 November 2026	LearnQuantitative Methods (9.6 h), Economics (2.4 h)
4	21–27 November 2026	LearnEconomics (12 h)
5	28 November – 4 December 2026	LearnEconomics (2.4 h), Financial Statement Analysis (9.6 h)
6	5–11 December 2026	LearnFinancial Statement Analysis (7.2 h), Corporate Issuers (4.8 h)
7	12–18 December 2026	LearnCorporate Issuers (12 h)
8	19–25 December 2026	LearnEquity Investments (12 h)
9	26 December 2026 – 1 January 2027	LearnEquity Investments (4.8 h), Fixed Income (7.2 h)
10	2–8 January 2027	LearnFixed Income (9.6 h), Derivatives (2.4 h)
11	9–15 January 2027	LearnDerivatives (12 h)
12	16–22 January 2027	LearnDerivatives (2.4 h), Alternative Investments (9.6 h)
13	23–29 January 2027	LearnAlternative Investments (7.2 h), Portfolio Management (4.8 h)
14	30 January – 5 February 2027	LearnPortfolio Management (12 h)
15	6–12 February 2027	Catch-upCatch up on anything left over; no new topic areas
16	13–19 February 2027	Catch-upCatch up on anything left over; no new topic areas
17	20–26 February 2027	ReviewMixed practice across all topic areas
18	27 February – 5 March 2027	ReviewMixed practice across all topic areas
19	6–12 March 2027	ReviewMixed practice across all topic areas
20	13–19 March 2027	ReviewMixed practice across all topic areas
21	20–26 March 2027	ReviewMixed practice across all topic areas
22	27 March – 2 April 2027	ReviewMixed practice across all topic areas
23	3–9 April 2027	ReviewMixed practice across all topic areas
24	10–16 April 2027	Mock examsOne full mock exam under timed conditions, then go through every mistake
25	17–23 April 2027	Mock examsOne full mock exam under timed conditions, then go through every mistake
26	24–30 April 2027	Mock examsOne full mock exam under timed conditions, then go through every mistake
27	1–7 May 2027	Mock examsOne full mock exam under timed conditions, then go through every mistake

Key facts

Prep and careers websites suggest planning at least 300 study hours for Level I of the CFA® Program – a planning figure, not a requirement.
The planner keeps about 15% of your weeks for mock exams (one to four weeks), 25% for mixed review and, from 12 weeks on, one or two catch-up weeks; the rest is for learning.
A topic area marked “new to me” gets 1.5 times the standard learning time, one marked “confident” half of it.
Example: 12 hours a week from 2 November 2026 to the window of 11–17 May 2027 (check the official website) give 27 weeks and 324 hours, 24 more than the 300-hour benchmark.
The plan downloads as a calendar file (.ics) or prints as a PDF; nothing is stored.

How is the result calculated?

The planner counts the full weeks from your start to the first day of the exam window. Days left over after the last full week are for light review and rest.

W = \left\lfloor \frac{d}{7} \right\rfloor

The weeks are split into four phases, in this order: learning, catch-up, review and mock exams.

M = \min\bigl(4, \max(1, \operatorname{round}(0.15\,W))\bigr), \qquad R = \max\bigl(1, \operatorname{round}(0.25\,W)\bigr), \qquad L = W - M - R - B

$M$ is the number of mock-exam weeks, $R$ the review weeks and $L$ the learning weeks. $B$ is the number of catch-up weeks: none below 12 weeks, one from 12 weeks and two from 26 weeks. Plans run from 4 to 104 weeks.

The learning weeks’ hours are shared among the topic areas by how confident you are in each, with the factor $f = 1.5$ for “new to me”, $1$ for “some background” and $0.5$ for “confident”:

h_i = L \times H \times \frac{f_i}{\sum_j f_j}

$H$ is your study hours a week. The topic areas follow one another in the order of the exam’s topic areas, each filling your weekly hours before the next one starts. Finally, the plan’s hours, $W \times H$ , are compared with the benchmark $T$ ; to reach it in the same weeks you would need $T / W$ hours a week.

The phase shares and the factors are our own planning rules, close to the three phases of our SQE1 study plan; they are not a recommendation of CFA Institute. The planner does not use the exam’s topic weights: CFA Institute publishes them for each exam year (CFA Institute, Level I exam), and they can change from one year to the next. The 300-hour benchmark is what two prep and careers websites suggest as a minimum (Soleadea, study hours (secondary source)) (300Hours, preparing for Level I (secondary source)).

Worked example

You start on Monday 2 November 2026, plan for the window of 11–17 May 2027 (check the official website) and study 12 hours a week. To the first day of the window there are 190 days: 27 full weeks and 1 day. The phases are 4 weeks of mock exams, 7 of review, 2 catch-up weeks and 14 weeks of learning.

You mark Ethical and Professional Standards and Fixed Income as new to you, Financial Statement Analysis as confident and the other 7 topic areas as some background. The learning weeks hold 14 × 12 = 168 hours, and the factors add up to 10.5:

h_{\text{new}} = 168 \times \frac{1.5}{10.5} = 24, \qquad h_{\text{some}} = 16, \qquad h_{\text{confident}} = 8

Ethical and Professional Standards fills weeks 1–2, Fixed Income weeks 9–10. In total the plan has 27 × 12 = 324 hours, 24 more than the 300-hour benchmark.

For the window of 22–28 February 2027 (check the official website), the same start leaves only 16 weeks: 192 hours at 12 hours a week, 108 below the benchmark. Reaching 300 hours would take 18.8 hours a week.

How do you use the plan week by week?

Start each week with the topic areas listed for it, and practise with questions from the first day rather than reading first and testing later. If a topic area takes longer than planned, move on anyway: the catch-up weeks are there for what is left. In the review weeks, mix questions from all topic areas and give extra time to those you marked as new. In the mock-exam weeks, sit one full mock under timed conditions each week – in the format of the exam, two sessions of 90 questions with 2 hours 15 minutes each – and spend the following days on every question you got wrong.

Not sure your week really has the hours? Check it first with the study-time budget calculator, which counts what your job, commute, sleep and family leave free.

Which planning mistakes are common?

Planning more hours than the week holds. A plan that needs every free evening breaks in the first busy week; enter the hours you can keep up.
Skipping the review phase when learning runs late. Mixed practice is where topic areas learned months earlier come back; cut new detail before you cut review.
Leaving mock exams to the last few days. A mock is useful only with time to go through the mistakes afterwards.
Treating 300 hours as a promise. It is a planning figure. Watch your pace in the first weeks and adjust the plan.

What this tool covers

Last updated

30 October 2026

Based on

Your start date, weekly hours and confidence in each topic area
Exam windows from our register of exam dates, linked to CFA Institute’s dates page
A 300-hour planning figure published by prep and careers websites (secondary sources)
The general names of the ten topic areas and the session format of the Level I exam

Includes

A week-by-week plan with dates, in four phases
Learning hours and weeks for each topic area
A comparison with the 300-hour benchmark
A calendar file (.ics) and a print version

Not included

The curriculum or its learning outcome statements – use CFA Institute’s own materials
The topic weights of your exam year – check them on CFA Institute’s Level I page
Registration deadlines and fees

Frequently asked questions

How many hours should I study for the CFA® Program Level I?

Prep and careers websites suggest planning at least 300 hours. Your own need depends on your background: topic areas you already know take less time, new ones more. The planner compares the hours in your plan with the benchmark you enter.

How many weeks do I need for Level I?

At 12 hours a week, 300 hours take 25 weeks; at 19 hours a week, about 16. Count back from the first day of your exam window and keep one or two weeks spare for catching up.

How does the planner share the time between topic areas?

Each topic area gets a share of the learning weeks. With the same confidence everywhere the shares are equal. A topic area marked “new to me” gets 1.5 times the standard share, one marked “confident” half of it. These factors are our planning rule, not the exam’s topic weights.

Why does the planner not use the exam’s topic weights?

CFA Institute publishes topic weights for each exam year, and they can change from one year to the next. Check the weights for your exam year on its Level I page, and mark a heavily weighted topic area you find hard as “new to me” to give it more time.

When should I take mock exams?

In the last weeks before the exam: the planner keeps about 15% of your weeks for them, between one and four weeks, with one full mock exam a week. A full mock has two sessions of 90 questions with 2 hours 15 minutes each.

Which exam window should I plan for?

The planner lists the windows in our register, for example 22–28 February 2027 (check the official website) and 11–17 May 2027 (check the official website), and plans to the first day of the window you choose. If your window is not listed, enter your exam date instead.

Can I put the plan in my calendar?

Yes. The calendar button saves an .ics file with one all-day entry per week and one for the first day of the exam window, which most calendar apps can import. The file is made in your browser; nothing is sent to us.

Does the planner save my plan?

No. The plan is calculated in your browser. Your choices appear only in the page address after the # sign, so you can bookmark or share the plan; they are not sent to us.

Sources

Soleadea (exam prep provider, secondary source): How Many Study Hours Does the CFA® Exam Really Take? (3 August 2026). Accessed 30 October 2026.
300Hours (finance careers website, secondary source): CFA Level 1: How to Prepare & Pass CFA in 18 Months (9 September 2026). Accessed 30 October 2026.
CFA Institute: CFA Program Level I exam: format and topic weights. Accessed 26 October 2026.
UWorld Finance (exam prep provider, secondary source): CFA Exam Fees and Registration Guide for 2027. Accessed 30 October 2026.
CFA Institute: CFA exam dates and fees. Accessed 26 October 2026.

Study aid only – not legal, financial or careers advice. The tool runs in your browser and stores nothing.

High Performer Certs is an independent study platform. It is not affiliated with, endorsed by, or sponsored by CFA Institute or the Global Association of Risk Professionals (GARP). We are not a CFA Institute Prep Provider and not a GARP Exam Preparation Provider. CFA Institute does not endorse, promote, review or warrant the accuracy or quality of our products and services. GARP does not endorse, promote, review or warrant the accuracy of our products or services. All questions and explanations are our own original material and contain no CFA Institute or GARP exam, curriculum or practice questions. CFA®, Chartered Financial Analyst®, CIPM® and GIPS® are registered trademarks owned by CFA Institute. FRM® and GARP® are trademarks owned by the Global Association of Risk Professionals.