A Smarter Way to Pass CFA® Level I

Standalone multiple-choice questions across all ten Level I topics, plus timed mocks, flashcards, and readiness tracking, with Savvy, your AI study partner, built in.

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Everything You Need for CFA Level I

Organized by the ten Level I topics and their learning modules. Learn each concept, practice it the way Level I tests it, then keep it with spaced review.

LEVEL I · QUANTITATIVE METHODS

Question 3 of 10

1:30

A bank quotes a stated annual rate of 6%, compounded monthly. The effective annual rate is closest to:

A6.00%

B6.17%

C6.09%

Hint: interest added during the year earns interest too.Why B? Monthly compounding lifts 6% to about 6.17%.

(1 + 0.06 ÷ 12)¹² − 1

Annually6.00%

Quarterly6.14%

Monthly6.17%

LEVEL I · QUANTITATIVE METHODS

Question 3 of 10

1:30

A bank quotes a stated annual rate of 6%, compounded monthly. The effective annual rate is closest to:

A6.00%

B6.17%

C6.09%

Hint: interest added during the year earns interest too.Why B? Monthly compounding lifts 6% to about 6.17%.(1 + 0.06 ÷ 12)¹² − 1

Practice Questions

Standalone multiple-choice questions with three options, the way Level I asks them, by topic and learning module. Every answer is explained, right and wrong.

Quantitative Methods · FormulaQuestion

Convert a stated annual rate into an effective annual rate.

Tap to reveal

EAR = (1 + r ÷ m)ᵐ − 1

More compounding periods, a higher EAR.

FORGOTHARDGOODEASY

Next review in 4 days

Flashcards and Formula Visuals

Flashcards on spaced repetition for Level I formulas, key terms, and the Ethics standards, plus visuals that show what a formula does before you memorize it.

Level I › Quantitative Methods

The Time Value of Money

Stated and effective rates

A quoted annual rate hides how often interest is added. The effective annual rate shows what you really earn in a year.

Divide the stated rate by the periods per year, compound, and subtract one:

EFFECTIVE ANNUAL RATE

EAR = (1 + r ÷ m)ᵐ − 1

r6%m12→EAR6.17%

Here monthly compounding turns a stated 6% into 6.17% a year.

The more often interest compounds, the wider the gap between the two rates.

EFFECTIVE ANNUAL RATE

EAR = (1 + r ÷ m)ᵐ − 1

r6%m12→EAR6.17%

Interactive Lessons

Clear explanations, worked examples, and visuals that turn dense Level I readings into concepts you actually understand.

Savvy: Your AI Study Partner

Savvy is your AI study partner for Level I. It's there whenever you need help, learns how you study, and helps you the way you learn best.

9:41

LEVEL I

M29

T30

I've got today's plan ready for you.

Quantitative Methods +160minEDIT

Lesson & Exercises

Time value of money • 15 min

Practice Questions

20 questions • 30 min

Flashcards

12 formula cards • 15 min

Plan updated until Friday

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Quarter-end at work. Can we go lighter this week?

9:41

Time Value

Why is the effective annual rate higher than the stated rate?

Because interest is added more than once a year, and each addition earns interest too.

The rule

The more often it compounds, the bigger the gap. At 6% compounded monthly, you earn about 6.17%.

Show me the compounding step by step

Quiz me on time value of money

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PDF

Quantitative Methods reading.pdf

From the curriculum you already have

Explain the Ethics standardsFlashcards for Fixed Income formulas

Always Know Where You Stand

A readiness score for every Level I topic and learning module shows what's exam-ready and what still needs work. Timed mocks and custom quizzes close the gaps.

LEVEL I READINESSPractice set done · 17 / 20▲ 6 this week

55OUT OF 1003 of 10 topics exam ready

Knowledge17 / 25

Coverage15 / 25

Exam Instinct12 / 25

Application11 / 25

Ethical and Professional Standards81Exam ready

Quantitative Methods54Developing

Equity Investments58Developing

LEVEL I READINESS

Practice set done · 17 / 20▲ 6 this week

55OUT OF 100

Knowledge17 / 25

Coverage15 / 25

Exam Instinct12 / 25

Application11 / 25

3 of 10 topics exam ready

Ethical and Professional Standards81Exam ready

Quantitative Methods54Developing

Equity Investments58Developing

Readiness Tracking

A readiness score for each of the ten Level I topics and their learning modules, built from what you know, what you remember, and what you can apply under time.

47 / 90

LEVEL I MOCK · SESSION 1 OF 2

1:18:40

Which action is most likely a violation of Standard I(C), Misrepresentation?

AUsing a firm research report with credit

BPresenting a forecast as a fact

Answer recorded, graded when you finish

Timed Mock Exams

Sit a timed, exam-style Level I mock before the real one, so you know your pace and exam day holds no surprises.

Create QuizLEVEL I

Quantitative MethodsEquity InvestmentsFixed IncomeCorporate Finance

Questions–10+

START QUIZ

Your quiz is ready · 20 questions, 2 topics

Custom Quizzes

Build a quiz from any mix of Level I learning modules, choose how many questions, and practice at your own pace or against the clock.

Practice That Feels Like a Game

Two quick games built on CFA topics. Play one between study sessions to keep concepts fresh and find out what you haven't locked in yet.

Probe:Solve the Finance Mystery

Elle reads out one clue at a time and you say your answer out loud. The fewer clues you need, the better you know it.

CLUE 1

It's measured in years.

CLUE 2

It shows how much a bond's price moves when rates change.

Elle

Clue one. It's measured in years.

Elle is speaking…

Synapses:Find the Four Hidden Groups

Sixteen CFA terms, four hidden groups. Link the concepts that belong together before your lifelines run out.

Create groups of 4!

Test your LEVEL I knowledge

00:08

Sharpe ratioLoyaltyCouponFIFO

Treynor ratioWeighted averageDiligenceDuration

Fair dealingJensen's alphaYieldLIFO

ConvexityMisconductSpecific IDSortino ratio

LIFELINES

RESETCHECK

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Learners love Oncourse

Real feedback from learners using the current Oncourse app.

Arjun MehtaLevel I candidate

Studying full time, it was easy to read for hours and remember little. Oncourse moved me into questions early and kept formulas coming back until they stuck.

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Rohan IyerLevel I candidate, analyst

My evenings are short after work. Oncourse turns them into focused question sets and formula reviews, so I’m not rereading the same reading every night.

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Emily CarterLevel II candidate, parent

Between work and my son, I get pockets of time, not hours. Oncourse fits prep into those pockets and still keeps me on pace for Level II.

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Kevin ZhangLevel II candidate

I fell weeks behind and almost deferred. Oncourse rebuilt my plan from where I actually was, and I caught up without cramming.

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James WhitakerLevel III candidate

In final review, every hour matters. Oncourse used each mock to pick my next weak area, so I stopped redoing topics I already knew.

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Hannah BrooksRetaking Level II

After missing Level II, I didn’t want to start from zero. Oncourse focused my retake on the topics that cost me, and the vignettes finally clicked.

CFA

Arjun MehtaLevel I candidate

Studying full time, it was easy to read for hours and remember little. Oncourse moved me into questions early and kept formulas coming back until they stuck.

CFA

Rohan IyerLevel I candidate, analyst

My evenings are short after work. Oncourse turns them into focused question sets and formula reviews, so I’m not rereading the same reading every night.

CFA

Emily CarterLevel II candidate, parent

Between work and my son, I get pockets of time, not hours. Oncourse fits prep into those pockets and still keeps me on pace for Level II.

CFA

Kevin ZhangLevel II candidate

I fell weeks behind and almost deferred. Oncourse rebuilt my plan from where I actually was, and I caught up without cramming.

CFA

James WhitakerLevel III candidate

In final review, every hour matters. Oncourse used each mock to pick my next weak area, so I stopped redoing topics I already knew.

CFA

Hannah BrooksRetaking Level II

After missing Level II, I didn’t want to start from zero. Oncourse focused my retake on the topics that cost me, and the vignettes finally clicked.

CFA

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Prices in USD. Every plan includes all three levels.

Frequently asked questions

What does Oncourse cover for CFA Level I?

All ten Level I topics on the 2027 curriculum, from Ethical and Professional Standards and Quantitative Methods to Fixed Income and Portfolio Construction, organized by learning module.

Are the practice questions in the Level I format?

Yes. Level I practice uses standalone multiple-choice questions with three options, like the exam, and every answer comes with an explanation.

Can I study for Level I around a full-time job or university?

Yes. Your daily plan is sized to the time you have, and you can tell Savvy when things get busy so the plan adjusts.

Can I use Oncourse alongside the CFA Institute curriculum?

Yes. Upload a chapter, your notes, or screenshots from the curriculum or any other course, and Savvy can explain them or quiz you on them.

Does Oncourse include official CFA Institute questions?

Oncourse questions are written by Oncourse and modeled closely on the CFA exam's item sets and multiple-choice formats for each level, so you practice the way you'll be tested and build exam readiness. They aren't official CFA Institute questions.

How much does Oncourse cost?

$134.99 a year with a 7-day free trial, $19.99 a month, or $6.99 a week. Every plan includes all three levels.

Start Level I with a free week

Practice questions, mock exams, flashcards, and Savvy for CFA Level I.

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