do you need to have a bachelor degree to sit for CFA1?

I know at the time of registration you must have a bachelor degree or be in the final year. But what about at the time of the actual test, can I still be in final year as well?

yes

But you would not be able to register for Level 2 until you had your degree. This is for those in the future who may sit L1 in December of thier final year, they would not be able to sit L2 the following June.

agreed

^not true. CFAI accepts up to two years professional work experience (finance related or otherwise) to substitute for years of school. For example, someone who may have left college early to start their own business is still qualified to sit for all 3 exams. This is exactly what I did and im a Level 3 candidate. What ever happened to consulting the website for the most accurate information or simply calling them? All of it is there in writing and you dont risk getting bad information from a third party public forum.