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CFA CFA-Level-I: CFA Institute CFA Level I Chartered Financial Analyst Certification Path

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Reference: https://www.cfainstitute.org/programs/cfa-program/candidate-resources/level-i-exam

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CFA CFA-Level-I Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Portfolio Management8–12%- Portfolio planning and construction
- Risk and return concepts
- Asset allocation and performance measurement
Topic 2: Equity Investments11–14%- Equity valuation models
- Industry and company analysis
- Market organization and structure
Topic 3: Alternative Investments7–10%- Private equity, real estate, hedge funds
- Investment characteristics and returns
- Commodities and infrastructure
Topic 4: Fixed Income11–14%- Fixed income securities characteristics
- Bond valuation and risk measures
- Yield measures, spot rates, forward rates
Topic 5: Derivatives5–8%- Forwards, futures, options, swaps
- Derivative pricing and valuation basics
- Derivative markets and instruments
Topic 6: Corporate Issuers6–9%- Corporate governance
- Business and financial risk
- Capital structure
- Capital budgeting
Topic 7: Ethical and Professional Standards15–20%- Global Investment Performance Standards (GIPS)
- Code of Ethics and Standards of Professional Conduct
Topic 8: Economics6–9%- International trade and currency markets
- Microeconomics
- Monetary and fiscal policy
- Macroeconomics
Topic 9: Financial Statement Analysis11–14%- Income statement, balance sheet, cash flow statement
- Financial reporting standards
- Inventories, long-lived assets, taxes, debt
- Ratio analysis and profitability
Topic 10: Quantitative Methods6–9%- Time value of money
- Regression and time-series analysis
- Statistical concepts and returns
- Probability and hypothesis testing

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