Hi Dean,
Generally, schools want to know two things when selecting MBA students: are you smart enough, and are you cool enough. Having passed the CFA level one helps a little with the are you smart enough question since the pass rate is only 35% or so, but I think most people only start talking about the CFA once they've passed two levels. This is partly because passing the CFA level 1 doesn't really make you "cool" . That is, there are a fair number of applicants that have passed the level 1 exam or have done equally or more difficult things so passing the level 1 CFA exam doesn't really make you that unique.
That said, when you say that you want to do an MBA in IT, do you plan on doing something that connects IT with finance? If so, stating that you've taking the CFA level one exam could help show that you're on your way to making this plan a reality.
Cheers
Dan
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