CFA Exam Pattern & Time Management Tips (CBT Format)
Table of Contents
Facing the CFA curriculum through the computer-based testing (CBT) format demands both content mastery and optimal time management. Knowing the CFA Exam Pattern, pacing each section, and practicing under timed conditions can drastically improve your outcome. This updated guide covers:
Breakdown of Python-like CPMBT exam sessions
Timing strategy per question and section
Prioritized study & pacing tactics
Mock exam best practices
Real candidate insights
1. Understanding the CBT Format & Exam Pattern
Since 2021, the CFA exams have transitioned entirely to CBT, offering enhanced flexibility through multiple testing windows and smaller test-center batches.
Level structure & time allocation:
Level
Questions Per Session
Session Time (min)
Total Exam Time(mins)
Break(mins)
Total Day Time
I
90
135
270 (4.5 hrs)
30
~5.5 hrs
II
88
132
264
30
~5.5 hrs
III
88
(mix 132 min item/ essay)
264
30
~5.5 hrs
Each level retains two equal-length sessions with an optional 30-minute break.
Question types:
Level I: Direct multiple-choice
Level II: Item-set style with mini-case scenarios and 4–6 questions each
Level III: Mix of constructed-response and item-set questions
Arrive early; set CBT timer; warm up with easy questions
Morning session
Start with strengths; flag tough ones; pace per block
Break
Replenish food & fluids; reset mentally
Afternoon
Tackle flagged and mid-weight items; avoid burn-out
Final minutes
Review flagged; ensure all answered; no blanks
7. Final Words
Mastering the CBT exam pattern and pacing are game-changers in CFA exam success. The CFA CBT format demands discipline—with approximately 90 seconds per question, strategic reviewing, and smart test-taking tactics. Pair this with timed mock practices, structured study schedules, and real candidate insights—and you’ll enter the exam room with confidence.