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Level I
2027 curriculum
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Prepare for the CFA® Program with question practice and full mock exams.
Start with the Level I Question Bank, practice any topic, sit full mock exams and see progress across the curriculum. Cliro then helps you decide what to practice next.
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A 2,500+ question bank for CFA® Level I.
Practice by topic, build mixed sessions, sit three full mock exams and track progress across the 2027 curriculum.
- 2,500+
- Practice questions
- 2
- Full mock exams
- 159
- Formula cards
- 20-question
- Optional diagnostic
Practice
Fixed Income · Duration & Convexity
A bond has a modified duration of 7.5. If its yield rises by 50 basis points, its price will most likely:
AIncrease by approximately 3.75%
BDecrease by approximately 3.75%
CRemain unchanged
Correct
The duration estimate is -7.5 × 0.005, giving an approximate price change of -3.75%.
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Answer a representative CFA® Level I question and see the kind of feedback Cliro gives you.
Take the free diagnosticCFA® Level I · Fixed Income
Bond prices and yields
Public example
A fixed-rate bond is issued at par value. Immediately after issuance, its required yield rises above its coupon rate. The bond's price will most likely:
What you study across the CFA® Program
Level ILearn & describeMultiple-choice exam format
- 01Ethical and Professional Standards
- 02Quantitative Methods
- 03Economics
- 04Financial Statement Analysis
- 05Corporate Finance
- 06Equities
- 07Fixed Income
- 08Derivatives and Risk Management
- 09Alternative Investments
- 10Portfolio Construction
CFA® exam windows
Level I is normally offered four times a year.
2027
Feb
- Level I
- Level III
May
- Level I
- Level II
Aug
- Level I
- Level II
- Level III
Nov
- Level I
- Level II
Level I in 2027: February · May · August · November
Remaining 2026 window: November · Level I · Level II
Exam availability, dates and registration deadlines are set by CFA Institute and may change. Confirm your exam window with CFA Institute before registering.
Check CFA Institute datesA study plan that changes as you study.
Cliro uses your exam window, available study time and question results to help you choose what to practice next.
Live study plan
February 2027 exam window
Updated from your results
Plan inputs
- Your availability
- 8 hrs / week
- Exam window
- February 2027
- Time remaining
- 137 days
- Current phase
- Build
FoundationsBuildConsolidate
Focus areas
Next 7 days
- 01Fixed IncomeReview due · high exam relevanceNeeds work
- 02Financial Statement AnalysisAccuracy has slippedDeveloping
- 03DerivativesFew questions answeredNot assessed
Recommended next action
18-minute Fixed Income practice
- Built around your exam date
- Tracks progress by topic
- Updated with every answer
Preparing for CFA® Level I?
Study the 2027 curriculum with 2,500+ practice questions, three full mock exams, 159 Formula Gym cards and a study plan that updates from your results.