The average candidate for Level I of the CFA exam must spend a minimum of 300 hours over six months preparing for the exam. CFA Institute preparation providers are prohibited from including in their products and services simulated questions for the official CFA Institute exam or any other question other than the final reading question. Practical skills modules are an additional educational requirement that you must complete to receive the results of the CFA Level I exam. It's important to know the passing rate of the CFA exam, considering that only 20% of candidates who start the program obtain certification, according to the CFA Institute.
CFA candidates spent an average of 323 hours preparing for exams, and level 3 candidates spent the most time. The weighting of the subjects of the level I exams is subject to change from year to year, at the discretion of the CFA Institute. The general idea is that candidates should spend an average of 300 hours studying for each level of the CFA Program exam.