CFA Level 1 - Quantitative Methods Review for CFA Level 1 Prep

Now that you have finished studying Quantitative methods for CFA Level 1, you need to spend a session to review important areas. It could be an additional day or extra time depending on you time availability. 

Global Formula & Concept Review

Quick tour of all Quant LOS

Time Value of Money (TVM): discounting/compounding, annuities, perpetuities, NPV/IRR.

Descriptive statistics: mean/median, variance/Standard deviation (SD), coefficient of variation, skewness, etc.

Probability: basic rules, conditional probability, Bayes, expected value and variance of random variables.

Sampling & estimation: standard error, point vs interval estimate.

Hypothesis testing & Confidence Interval: what you did Days 10–12.

Correlation & simple regression: slope, intercept, R², limitations.

• For each area, write down 3–5 key formulas 
• Do Topic‑wise Mixed Question Sets (VImp)
• Do it “slow but correct”, speed issue to revisit later in the full‑curriculum phase.

Simulate a compact Quant exam:

• Take 35–40 Quant questions from across topics, mixed and not in order, under a time cap (~60 minutes).
• No pausing to check; just mark guesses.

Review (at least another 45–60 min):

• Build a final Quant error sheet:for review later
• Spend a short block doing 5–10 questions on the single area that still feels worst after the mini‑mock

Here are some Quant review resources. The official CFA curriculum is always by far the best resource for preparation. These are additional helpful materials.

Level 1 Quant Cheat Sheet

CFA Level 1 Quantitative Methods Cheat Sheet 2026

Sample Questions

CFA® Level 1 Quantitative Methods (2025) questions and answers

CFA Level I Crash Course | Session 4: Quantitative Methods - Day 4

CFA Level 1 Hypotheses Testing - Additional Study Resources | Sample Questions

 Here are some study resources for CFA Level 1 Hypotheses testing. The CFA official material is the best way to prepare for any paper. These resources help in refining and revising concepts.

Hypothesis Testing | CFA Level 1 - AnalystPrep

https://youtu.be/qwiEHnEXmz8?si=K_Bh6oD1PLDbUvYJ

https://youtu.be/iz1sfne1cNA?si=rnYJPVJEu7Z1atMX

CFA Level 1 Quantitative Methods Cheat Sheet 2026

Hypothesis Testing - Quantitative Methods | CFA® Level 1 Guide | PrepBuddy

Check out these resources for more understanding on CFA Level 1 Hypotheses testing

Day 8: CFA Level I Probability Basics Study Plan (Quantitative Methods)

Today is a study plan (not official CFA Institute curriculum material) to help you learn probability basics in a practical, test-ready way.

Checklist

• Workspace: Clear your desk; keep only your notes, formula sheet/flashcards, and calculator.
• Materials: 1 notebook page titled “Probability – Rules + Common Traps.”
• Calculator: Set your standard defaults (keep this consistent every day). Practice entering fractions/decimals cleanly.
• Question bank setup: Create a mini-quiz set called “Day 7 Probability” with tags:
• Probability rules
• Conditional probability
• Independence
• Bayes (basic)

Daily Ethics block (15–20 minutes)

Ethics warm-up: Conflicts of interest in everyday life

Restate: Put client/employer interests first; disclose conflicts early and clearly.
Write a 4-line scenario: “A friend asks for ‘sure-shot’ stock tips.” What do you say to avoid misleading them?
Do 5 quick Ethics questions (or 5 short scenario checks). Keep answers in one sentence each.

Main study block (70–90 minutes): Probability fundamentals

Focus on understanding the rules and spotting the keywords that show up in CFA-style questions.

A) Probability language (foundation)

• Random variable vs outcome vs event
• Complement rule: 
• Mutually exclusive events (cannot both happen)

B) Addition and multiplication rules

• Addition rule (general): 
• Mutually exclusive special case: 
• Multiplication rule: 

C) Conditional probability and independence

• 
• Independence test:  (or )
• Common trap: “Independent” is not the same as “mutually exclusive.”

D) Total probability + Bayes (basic intuition)

• Think in “paths” (e.g., different groups that could produce an outcome)
• Bayes’ idea: update your belief when you receive new information
• “Given that…” usually signals conditional probability.

25-question practice target (45–60 minutes)

Timed: aim for ~90 seconds per question.

12 questions: addition/multiplication rules (union/intersection)
6 questions: conditional probability 
2 questions: independence vs mutually exclusive (identify which is which)
5 questions: Ethics warm-up set (or 5 mini scenarios)

After each set of 5 questions: pause for 60 seconds and write the one rule you forgot or misread.

5) Mistake-log prompt (write 1–2 lines per miss)

Use exactly one label per mistake:

• Concept gap
• Formula gap
• Calculator error
• Reading error

(If Ethics errors happen, classify them mainly as Concept gap or Reading error.)

6) Five-question review checkpoint (10 minutes)

Answer without notes:

1. If , what is ?
2. If events are mutually exclusive, what is ?
3. Write the general addition rule for .
4. Write the multiplication rule for .
5. In one sentence: what does “independent” mean in probability?

Tomorrow preview (Day 9) Tomorrow, we move into probability distributions (what mean/variance are telling you, and how to recognize common distribution setups fast).

Day 6: CFA Level I Quant Study Plan: Descriptive Statistics - CFA Level 1 90 Days

 Day 6 - Level 1 CFA in 90 Days

Day 6 begins a new Quantitative Methods block. After several days of time value of money, today shifts into descriptive statistics: how data is summarized, interpreted, and compared. The Quant questions cover mean, weighted mean, geometric mean, variance, standard deviation, coefficient of variation, skewness, and kurtosis.

This is a study-plan blog post, not official CFA curriculum material. Use it to structure your preparation, then rely on your CFA materials, notes, or question bank for the actual readings and practice problems.

Checklist

Spend 10-15 minutes preparing your study setup.

Materials: Keep your formula sheet, calculator, question bank, and notebook ready.
Calculator check: Confirm how to enter a small data set and calculate mean and standard deviation.
Formula focus: Mark formulas for mean, weighted mean, geometric mean, variance, standard deviation, coefficient of variation, and range.
Flash cards: Keep your flash cards handy or ready to be prepared
Question bank filter: Select Quant questions tagged statistics, descriptive statistics, measures of central tendency, and dispersion.
Time block: Plan for study, review and questions, 2-3 hours 

Today’s goal is to understand what each statistic tells you, not just how to calculate it.

Daily Ethics reading and prep

Spend 10-15  minutes on Ethics before the Quant block.

Today’s Ethics focus: misrepresentation and data presentation.

Read one short scenario where an analyst presents performance results, charts, or statistics to a client. Ask yourself:

• Is the analyst showing the full picture?
• Are any numbers being cherry-picked?
• Are assumptions clearly explained?
• Could the presentation mislead the client?
• What disclosure would make the communication fairer?

Then complete 5 quick Ethics questions or flashcards. If you miss one, classify it mainly as a Concept gap or Reading error.

Main study block

Today’s Quantitative Methods focus is descriptive statistics.

Subtopics to study

Day 5: CFA Level I Quant Study Plan: Rates, Compounding, and TVM Practice - 90 Days to CFA

Day 5 of the CFA Level I study plan is focused on rates, compounding, and mixed time value of money practice. The goal today is not to memorize more formulas. The goal is to learn how to identify the problem type before touching the calculator. You have already worked through present value, future value, annuities, and cash-flow timing. Today, the focus is on rates, compounding, discounting, and mixed time value of money questions.

Disclaimer: This is a study-plan blog post, not official CFA curriculum material. Use it to organize your preparation, then rely on your CFA materials, notes, or question bank for the actual readings and problem sets.

Checklist before starting

Spend 10 minutes setting up before you begin.

• Calculator reset: Clear TVM memory. Check decimal places, payments per year, compounding periods per year, and BEGIN/END mode.
• Formula sheet: Open the section on effective annual rate, periodic rate, present value, future value, annuities, and perpetuities.
• Flash Cards - Keep them nearby, ready to fill or filled ones
• Timeline habit: Keep one blank page only for cash-flow timelines.
• Question bank filter: Select time value of money questions that mix single sums, annuities, rates, and compounding.
• Timer: Use three blocks: 40 minutes study, 35 minutes questions, 15 minutes review.

Your prep goal today is simple: reduce mechanical errors before they become repeated habits.

Daily Ethics reading and prep

Spend 10-15 minutes on Ethics before the Quant block.

Today’s Ethics focus: integrity and professional judgment.

Read one short scenario involving an analyst who receives pressure from a supervisor, client, or colleague. Ask yourself:

• Is the analyst being pushed to ignore evidence?
• Are facts and opinions clearly separated?
• Is the recommendation based on reasonable analysis?
• Is there any misleading communication?
• What should the analyst do before acting?

Then complete 5 Ethics warm-up questions or review 5 Ethics flashcards. Log any mistake as a Concept gap or Reading error.

Main study block

Today’s Quantitative Methods focus is mixed time value of money practice.

Study these subtopics:

• Nominal rate: The quoted annual rate before adjusting for compounding.
• Periodic rate: The rate applied each period.
• Effective annual rate: The annual rate after compounding is considered.
• Compounding frequency: Annual, semiannual, quarterly, monthly, or continuous compounding.
• Discounting: Moving future cash flows back to the present.
• Compounding: Moving present cash flows forward to the future.
• Perpetuities: Level payments that continue indefinitely.
• Mixed TVM questions: Problems where you must decide whether to solve for PV, FV, PMT, N, or I/Y.

Today’s main skill is diagnosis. Before calculating, ask: “What variable is the question really asking me to solve?”

25-question practice target

Complete 25 questions today.

Use this breakdown:

• 4 questions: Nominal, periodic, and effective annual rates
• 4 questions: Compounding and discounting single sums
• 4 questions: Ordinary annuity and annuity due review
• 3 questions: Perpetuity calculations
• 3 questions: Mixed TVM variable identification
• 2 questions: Calculator setup and sign convention checks
• 5 questions: Ethics warm-up or scenario questions

For each Quant question, write down the unknown variable before solving: PV, FV, PMT, N, or I/Y. This one step can prevent many wrong answers.

Five-question review checkpoint

End the session by answering these five questions:

1. Can I explain the difference between nominal, periodic, and effective annual rates?
2. Did I identify the unknown variable before solving each TVM problem?
3. Which caused more errors today: rate conversion, cash-flow timing, or calculator input?
4. What was my accuracy on the 20 Quant questions and the 5 Ethics questions?
5. Which TVM concept should I revisit before moving into statistics and probability?

Mistake log - As we have been doing so far, create a mistake log book. It will be easy to refer back to those

After practice, record every missed or guessed question using these four labels:

• Concept gap: I did not understand the question's underlying idea.
• Formula gap: I understood the idea but forgot the correct formula or setup.
• Calculator error: I entered values incorrectly, used the wrong mode, forgot to clear memory, or made a sign error.
• Reading error: I misunderstood the wording, timing, rate, or variable being asked.

For Ethics mistakes, use mainly Concept gap or Reading error.

Day 6 begins the next Quantitative Methods block: descriptive statistics, measures of central tendency, dispersion, probability foundations, and distribution basics.

CFA Level 1 TVM Free Resources, Questions, Downloads

 As you are preparing for CFA Level 1, TVM is one of the first things you come across. From my CFA study plan, TVM is the Day 3 preparation. Please check out these resources on TVM as you go through CFA Level 1 preparation.

The best plan for preparing for CFA Level 1 is to follow the study material and answer the questions from the book. These resources are supplementary for further understanding or to clarify concepts. You can find sample questions here too.

Time Value of Money in Finance | CFA Level 1

Introduction to Time Value of Money | Quantitative Methods – 1 | CFA Level 1 | FRM Part 1

CFA Level 1: TVM for Fixed Income & Equity Valuation

Download Free CFA Level 1 Sample Questions at cfainstitute.org

The  CFA Institute website provides free CFA Level 1 sample questions. Follow the link to get the questions.

CFA® Program Level I Sample Questions | CFA Institute

The free sample questions are a good way to understand the CFA exam format and familiarise oneself with the curriculum. 

Preparing for CFA needs around 300 hours of  preparation, so the sample questions are a good way to understand the process. 

Downlad the questions from the link.

CFA Level 1 for August - What to Prepare Today - Day 1 | 90 Days to CFA

CFA Level 1 90 Days Journey

Suppose you are starting your CFA Level 1 prep today for August. The right way would be to use the information accumulated from years of CFA prep stories. August exams is approximately 90 Days away. Here is how to start the prep journey.

Very Important

Choose the right starting topic

Evidence‑based study orders for CFA Level 1 recommend starting with Quantitative Methods, especially time value of money, basic statistics, and probability, because these feed into Fixed Income, Derivatives, and Portfolio.

Concrete Day 1 Plan  (Assuming 3-4 hours)

1. Understand format for exams

2. Learn the ecosystem, see dashboard and topics 

(If you haven't done these so far!)

3. Study the first Quant reading on time value of money and cash flow basics from your notes/videos/study provider content

4. Immediately do the end‑of‑reading / topic questions (aim 20–30 questions) to cement formulas like , , annuities, and basic return measures

 You don't want me to explain what FV, PV are!

4. Read a short summary of the Code of Ethics and Standards of Professional Conduct, without trying to memorise every detail

A daily dose of ethics keeps one acquainted with the nuances of Ethics and most study providers suggest that. 

5. Start an excel tracker of topics covered (or you can download those available), and cross off topics. A calendar always helps

6. Start a flash card of key formulas and definitions

7. Write down the exact Day 2 plan.

Come back tomorrow for the Day 2 plan

CFA Level 1 in 2026: Strategy, Stats, and Cracking the Code

So, you’ve decided to sit for the CFA Level 1. Whether you’re a finance veteran or a career-switcher, you’re now facing the mountain of knowledge. With over 3,000 pages of curriculum and a pass rate that historically hovers around 40-45%, this isn't an exam you can "cram" for over a long weekend.

To help you navigate the 2026 landscape, we’ve broken down the dos and don'ts strategy that will help crack Level 1. 

1. The Numbers You Need to Know

The most recent data from the November 2025 and August 2025 sessions shows a consistent 43% pass rate. But here’s the kicker: First-time candidates see a pass rate closer to 49-50%. Retakers (after a deferral) drop significantly to 29%.

The Lesson: Momentum is everything. If you start, finish. Deferring doesn't just cost you a fee; it statistically lowers your chances of passing.

2. The 2026 Curriculum: What’s New?The good news? The 2026 syllabus is largely a carry-over from 2025, providing a stable foundation. Here is the approximate weighting you'll be dealing with:Topic AreaWeightingPriority LevelEthics & Professional Standards15–20%Critical (Tie-breaker)Financial Statement Analysis (FSA)11–14%High (Heavy technicals)Fixed Income11–14%High (Complex math)Equity Investments11–14%HighPortfolio Management8–12%MediumQuantitative Methods6–9%FoundationalCorporate Issuers6–9%MediumEconomics6–9%MediumAlternative Investments7–10%Low/MediumDerivatives5–8%Low (Very technical)

3. Strategy: The "Non-Linear" Study OrderDon't just start at Page 1. To build a mental framework that actually sticks, try this order:

• Quantitative Methods: It’s the "language" of the exam (Time Value of Money, etc.).
• FSA: The most time-consuming. Get through it early while your brain is fresh.
• Fixed Income & Equity: These build directly on your Quant and FSA skills.
• Ethics: Save this for the final 4 weeks. It’s about nuance and "CFA-speak"; you want it in your short-term memory. 

4. The "Practical Skills" Requirement - Remember, passing the exam isn't enough anymore. You must complete one Practical Skills Module (PSM) to receive your results. For Level 1, you choose between: Financial Modeling: Best for aspiring Investment Bankers or Equity Analysts. 

Python Programming Fundamentals: Best for those looking toward FinTech or 

Data Science.

Pro Tip: Don't leave the PSM for the week after the exam. It takes about 10–15 hours to complete. Do it during a "light" study week to break up the monotony of the textbooks.

5. The Final 30-Day Rule - The last month is where the exam is won or lost.

Mock Exams: Aim for at least 4–6 full-length mocks.

The 70% Threshold: If you’re scoring consistently above 70% in mocks, you’re in the "Safe Zone.

Master the Calculator: If you’re still hunting for the $[N]$ or $[I/Y]$ buttons on your TI BA II Plus during the exam, you’ve already lost. 

Speed is a skill.

Final Thoughts: Level 1 isn't necessarily about "genius-level" math; it’s an endurance test. It tests your ability to manage 10 different disciplines simultaneously. Stay disciplined, respect the "Ethics Adjustment," and we’ll see you at Level 2.

Are you targeting the August or November window? Let us know your biggest struggle in the comments below!