CIPM Level I Study Plan: 10-Week Schedule
- Kateryna Myrko
- Aug 22
- 5 min read
If you’re targeting the March or September CIPM® windows in 2025–2026, you need a plan that is tight, realistic, and aligned to what the exam actually tests. This 10-week schedule is built directly on the current CFA Institute guidance for exam structure, topic weights, and expected study time, then optimized to fit a compressed timeline without sacrificing comprehension or practice. CIPM Level I Study Plan
Quick facts for 2025–2026 candidates CIPM Level I Study Plan
Exam windows: CIPM exams for both levels run each March and September via in-person Prometric test centers.
Format (Level I): One 3-hour session with 100 multiple-choice questions. Results are typically released within 60 days.
Official topic weights (Level I):
Ethics & Professionalism — 15%
Performance Measurement — 35%
Performance Attribution Analysis — 25%
Performance Evaluation & Appraisal — 10%
Portfolio Performance Presentation — 15%
Study time: Candidates report ~155 hours per level on average; this plan allocates that across 10 weeks (~15–16 hours/week).
Study tools: The CFA Institute Learning Ecosystem (LES) includes the full curriculum, topic-level objectives, personalized plans, flashcards, practice questions, and mocks.
Rescheduling: Moving an appointment within your exam window incurs a USD 25 fee.
How to use this 10-week schedule
Total hours: ~155.
Weekly pace: 15–18 hours (5–6 study blocks of ~3 hours).
Assessment cadence: Short quiz every study block; one mid-plan diagnostic (Week 6); two full mocks (Weeks 9–10).
Weight-driven time split:
Performance Measurement ~54 hours (Weeks 2–4)
Attribution ~39 hours (Weeks 5–6)
Presentation ~23 hours (Week 8)
Ethics ~23 hours (Weeks 1 & 9)
Evaluation/Appraisal ~16 hours (Week 7)
Tip: Treat Ethics like a “boomerang” topic—hit it early for definitions and again late for precision.
Week-by-week plan (Level I)
Each week below lists objectives, core tasks, practice goals, and deliverables.
Week 1 (15–16h): Orientation + Ethics foundations
Objectives:
Understand exam structure, scoring, and question style.
Build Ethics base (Code & Standards, professional conduct, common violations).
Core tasks:
Read LES overview and set your personalized plan.
Ethics readings: duties to clients/prospects, communication with clients, suitability, misrepresentation, misconduct.
Quick skim: overview chapters for Measurement, Attribution, Presentation.
Practice goals: 150–200 Ethics MCQs (untimed, accuracy >70%).
Deliverables: One-page “Ethics traps” sheet (what each Standard does and does not allow).
Week 2 (18h): Performance Measurement I — returns & conventions
Objectives:
Master money-weighted vs. time-weighted return; linking; geometric vs. arithmetic means; day-count and compounding conventions.
Core tasks:
All Measurement readings on return definitions, calculation nuances, and handling external flows.
Build a formula deck for TWR, MWR (IRR), modified Dietz, linked returns.
Practice goals: 200 MCQs; drill computational speed (≤90 sec/item).
Deliverables: Calculation cheat sheet with formula inputs and units.
Week 3 (18h): Performance Measurement II — risk & benchmarks
Objectives:
Risk metrics: variance, standard deviation, downside risk, tracking error; risk-adjusted metrics (Sharpe, Information Ratio, Sortino).
Benchmarks: properties, construction pitfalls, custom vs. standard indexes.
Core tasks:
Convert returns to excess returns, annualization, and active risk.
Create a “benchmark quality” checklist.
Practice goals: 200 MCQs; mini-sets mixing calculation + concept.
Deliverables: Risk-adjusted performance measures table (inputs, interpretation, caveats).
Week 4 (18h): Performance Measurement III — composites & data quality
Objectives:
Composites, dispersion, carve-outs, fees/expenses, gross vs. net, cash/FX impacts.
Data hygiene: outliers, survivorship/look-ahead biases.
Core tasks:
Work composite construction cases; calculate composite dispersion and interpret.
Build a “data pitfalls” checklist.
Practice goals: 150–200 MCQs; 1 × 60-question timed set (54 minutes target).
Deliverables: Composite policy outline (admission/exit criteria, significant cash flows).
Week 5 (19–20h): Performance Attribution I — equity (Brinson)
Objectives:
Master Brinson models (original, Brinson-Fachler), allocation/selection/interaction effects.
Core tasks:
Decompose examples; write your own explanations.
Sensitivity drills for sector weights and returns.
Practice goals: 200 MCQs; 2 caselets with table-based inputs.
Deliverables: Attribution worksheet template.
Week 6 (19–20h): Performance Attribution II — fixed income & multi-currency
Objectives:
Fixed-income attribution (yield curve, duration, spread, carry/roll-down).
Multi-currency attribution (Karnosky-Singer).
Core tasks:
Build duration/curve buckets and FX contribution examples.
Mid-plan diagnostic: 60–80 mixed questions under time.
Practice goals: 200 MCQs; >70% accuracy on fixed-income and currency.
Deliverables: One-pager on “when Brinson fails.”
Week 7 (15–16h): Performance Evaluation & Appraisal
Objectives:
Distinguish skill vs. luck; persistence; appraisal ratios; market-timing tests.
Core tasks:
Analyze track records; reconcile conflicting metrics.
Draft a memo recommending retention or replacement of a manager.
Practice goals: 120–150 MCQs; 1 × 60-question timed set.
Deliverables: Due diligence and evaluation checklists.
Week 8 (16–17h): Portfolio Performance Presentation (incl. GIPS®)
Objectives:
Fair, accurate, compliant reporting; disclosure requirements; portability.
Core tasks:
Build a model factsheet with mandatory vs. optional disclosures.
Audit sample reports for compliance.
Practice goals: 150–180 MCQs focused on presentation.
Deliverables: Presentation checklist.
Week 9 (15–16h): Ethics return + Mock #1
Objectives:
Refresh Ethics with edge-case scenarios.
Sit Mock #1 (3 hours, 100 questions).
Core tasks:
Ethics question pack (≥150 items).
Review Mock #1 and build error log.
Practice goals: Mock ≥65–70%.
Deliverables: “Last-week fix list” by topic.
Week 10 (15–18h): Final tune-up + Mock #2
Objectives:
Polish weak areas; endurance training.
Core tasks:
Mock #2 early in week; deep review the next day.
Re-test weak items.
Light-touch review of formulas and disclosure lists.
Practice goals: Raise weak domains to ≥70%; timed bursts ≤85 sec/item.
Deliverables: Printed exam-day checklist.
Exam-day checklist
Timing: 100 MCQs in 180 minutes = 1.8 minutes/question.
Triage rules: Solve fast, defer time sinks.
Ethics: Watch for absolutes like “always/never.”
Math hygiene: Label rates and check magnitudes.
Presentation/GIPS: Stick to required disclosures.
Admin: Confirm Prometric location, ID, and reschedule policy (USD 25).
What to do if you’re behind
Pair 45-min rereads with 45-min quizzes; recap errors.
Protect Measurement + Attribution (60%) and Ethics (15%).
Use 10-question micro-drills during downtime.
Common pitfalls (and fixes)
Over-reliance on formulas. → Write plain-language blurbs.
Ignoring benchmark quality. → Memorize benchmark properties.
Treating Presentation lightly. → Practice auditing factsheets.
Delaying Ethics. → Two passes: Week 1 & Week 9.
Skipping mocks. → Do two full timed mocks.
FAQ (2025–2026 quick answers)
How many hours should I plan for a 10-week sprint?
About 155 hours total (≈15–16 per week).
What does the Level I exam look like?
One 3-hour session, 100 MCQs, results within 60 days.
When are the next sittings?
Each March and September.
How important is Ethics?
It’s 15% of Level I.
Do I need third-party notes?
Not required—the LES is sufficient for most candidates.
CIPM Level I rewards candidates who are methodical. Keep strict control of your time, practice with exam-style MCQs, and focus on Measurement, Attribution, and Ethics. Two full mocks in Weeks 9–10 will make exam day feel familiar and manageable.
Good luck — and use this roadmap as your guide.
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