CFA

Topic area weights for the CFA exam

Topic Area Level I Level II Level III
Ethical and Professional Standards Total 15 10 10
Quantitative Methods 12 5-10 0
Economics 10 5-10 0
Financial Reporting and Analysis 20 15-25 0
Corporate Finance 8 5-15 0
Investment Tools Total 50 30-60 0
Equity Investments 10 20-30 5-15
Fixed Income 12 5-15 20-20
Derivatives 5 5-15 5-15
Alternative Investments 3 5-15 5-15
Asset Valuation Total 30 35-75 35-45
Portfolio Management and Wealth PlanningTotal 5 5-15 45-55
Note: These weights are intended to guide the curriculum and examination developments processes. Actual exam weights may vary slightly from year to year. Please note that some topics are combined for testing purposes.

 


 
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