Finance Exams
CFA Level 1 Formula Sheet PDF 2026 — 250 Formulas, 98 Definitions + Free Mock
54-page 2026 formula reference: 250 formulas + 98 definitions by topic plus an 80-question recall drill with answer key.
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Free practice test
Free CFA Level 1 Practice Test | 60-Question Readiness
Same CFA Level 1 Formula Reference exam — run the linked 60-question timed check for topic scoring and a pass/no-pass report before you buy the PDF.
Take free 60-question CFA Level 1 Formula Reference practice testPDF previews
Real excerpts from the PDF so you can judge layout and depth before checkout.
Quantitative Methods formula table — typeset math at a glance
Each row shows concept, typeset formula, and a one-line plain-English meaning — the fastest pre-exam scan for TVM and statistics families Level 1 repeats.
Formula Recall Drill — see the formula, name the concept
80 questions with same-topic distractors test whether you can retrieve the concept behind a displayed formula under exam timing.
Drill question with full explanation in the answer key
Every recall question includes why the correct concept matches the formula and why tempting distractors fail — mapped to the validated item bank.
Ready to drill with the full deck?
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Get CFA Level 1 Formula Reference PDF — $14 USDPairs with
CFA Level 1
A concise Anki deck for CFA Level 1 candidates using spaced repetition.
Product facts
- Contents
- 54 pages + 80 recall questions
- Coverage
- 250 CFA Level 1 formulas and 98 key definitions across Quant, Economics, FSA, Corporate Issuers, Equity, Fixed Income, Derivatives, Alternatives, Portfolio Management, and Ethics & GIPS
- Format
- Price
- $14 USD
- Checkout
- Gumroad
- Exam cycle
- 2026 CFA Level 1 preparation cycle
- Delivery
- Printable PDF digital download through Gumroad
What is inside the PDF
| Section | Length | What you get |
|---|---|---|
| Quantitative Methods | 65 entries | TVM, statistics, regression — typeset with one-line meanings |
| Economics | 36 entries | Micro, macro, and currency parity relationships |
| Financial Statement Analysis | 44 entries | Ratios, cash flow linkages, inventory methods |
| Corporate Issuers | 14 entries | Capital structure and governance metrics |
| Equity Investments | 23 entries | Multiples, DDM, and index construction |
| Fixed Income | 51 entries | Duration, convexity, yields, and pricing |
| Derivatives | 49 entries | Forwards, futures, options, and swaps |
| Alternative Investments | 11 entries | Core alternatives metrics |
| Portfolio Management | 27 entries | CAPM, Sharpe, and portfolio risk/return |
| Ethics & GIPS | 28 entries | Key ethics and GIPS definitions |
| Formula Recall Drill | 80 questions | See the formula, name the concept — explained answer key |
Exam facts
CFA Level 1
The CFA Level 1 exam is administered by CFA Institute for investment professionals. This page summarizes structure, 2025 topic weights, and independent UniPrep2Go study products (not official CFA Institute material).
- Questions
- 180 multiple-choice (two 90-question sessions)
- Time
- 4 hours 30 minutes total (two sessions with optional break)
- Passing score
- No fixed passing score published; CFA Institute sets the MPS each cycle
- Delivery
- Computer-based at Prometric test centers
- Administered by
- CFA Institute
Knowledge domains and weights
| Domain | Weight |
|---|---|
| Ethical and Professional Standards | 15–20% |
| Quantitative Methods | 6–9% |
| Economics | 6–9% |
| Financial Statement Analysis | 11–14% |
| Corporate Issuers | 6–9% |
| Equity Investments | 11–14% |
| Fixed Income | 11–14% |
| Derivatives | 5–8% |
| Alternative Investments | 7–10% |
| Portfolio Management | 8–12% |
High-yield facts (commonly tested)
- Ethics and Professional Standards is heavily weighted and can determine pass/fail for borderline candidates.
- FIFO assumes the first units purchased are sold first; LIFO is not permitted under IFRS.
- Duration measures the sensitivity of a bond's price to a change in yield.
- The CAPM relates expected return to systematic risk (beta).
- Derivatives include forwards, futures, options, and swaps — each with distinct payoff profiles.
Common CFA Level 1 questions
Straight answers to the questions candidates usually search before buying prep or booking the exam.
How many questions are on CFA Level 1?
180 multiple-choice questions split across two 90-question sessions (4 hours 30 minutes total with optional break).
What are the CFA Level 1 topic weights?
Ten topics ranging from 5–8% (Derivatives) to 15–20% (Ethics); see cfainstitute.org for the current cycle.
Is there a fixed passing score for CFA Level 1?
No published cutoff. CFA Institute sets the minimum passing score (MPS) after each exam administration.
Verify current exam fees, scheduling, and administrative details at www.cfainstitute.org/programs/cfa-program/candidate-resources/level-i-exams. Independent study aid — not official exam material.
More about CFA Level 1 Formula ReferenceStudy tips, positioning, and how this PDF compares
CFA Level 1 exam prep
348 entries — 250 formulas and 98 definitions across Quant (65), Fixed Income (51), Derivatives (49), and the remaining Level 1 topics. The 80-question drill tests see-the-formula/name-the-concept recall. Same validated bank as the Anki deck.
Built for: CFA Level 1 candidates who need fast formula retrieval under exam timing — print the reference, run the recall drill, and pair with spaced-repetition review on the companion Anki deck.
Covers: 250 CFA Level 1 formulas and 98 key definitions across Quant, Economics, FSA, Corporate Issuers, Equity, Fixed Income, Derivatives, Alternatives, Portfolio Management, and Ethics & GIPS.
- Printable PDF study material
- 54 pages + 80 recall questions
- Topic coverage table and samples on this page
- Independent supplement to courses and question banks
How this deck compares
Level 1 rewards retrieval speed — you cannot apply a formula you cannot name in three seconds. This reference is the printable recall layer; pair it with Anki for daily reps and the free mock for topic gaps.
| Approach | Typical size | Tradeoffs |
|---|---|---|
| Free community decks | 1,000–3,000 |
|
| Budget mega-packs | 1,000+ |
|
| This deck | 54 pages + 80 recall questions |
|
CFA Level 1 Formula Reference study guide
What is inside
348 entries — 250 typeset formulas and 98 examiner-style definitions across Quantitative Methods (65), Fixed Income (51), Derivatives (49), FSA (44), Economics (36), Ethics & GIPS (28), Portfolio Management (27), Equity (23), Corporate Issuers (14), and Alternatives (11). Each table row shows concept, typeset formula, and a one-line plain-English meaning. The 80-question Formula Recall Drill shows a formula and asks you to name the concept — same-topic distractors mirror exam phrasing.
Four-week recall plan with the Anki deck and free mock
**Week 1:** Quant and FRA tables + 20 [CFA Anki](/decks/cfa-level-1-anki-deck) cards/day. **Week 2:** Fixed income and derivatives tables. **Week 3:** Take the 80-question recall drill timed; run the [free 60-question mock](/mock-exams/cfa-level-1-readiness-check). **Week 4:** Re-print tables for lowest mock topics only; Anki review on missed drill questions.
Pitfalls this reference targets
Candidates memorize formula shape but cannot name the concept under pressure, or confuse duration with convexity applications. The recall drill forces concept retrieval — not passive re-reading of typeset math.
CFA Level 1 & product FAQ
How many questions are on CFA Level 1?
180 multiple-choice questions split across two 90-question sessions (4 hours 30 minutes total with optional break).
What are the CFA Level 1 topic weights?
Ten topics ranging from 5–8% (Derivatives) to 15–20% (Ethics); see cfainstitute.org for the current cycle.
Is there a fixed passing score for CFA Level 1?
No published cutoff. CFA Institute sets the minimum passing score (MPS) after each exam administration.
Is this official CFA Institute material?
No. This is an independent educational product. CFA Institute does not endorse, promote, or warrant the accuracy or quality of this product.
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Last updated 2026-06-12.