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CFA CFA-Level-I Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Alternative Investments | 7–10% | - Private equity, real estate, hedge funds - Commodities and infrastructure - Investment characteristics and returns |
| Topic 2: Portfolio Management | 8–12% | - Portfolio planning and construction - Risk and return concepts - Asset allocation and performance measurement |
| Topic 3: Ethical and Professional Standards | 15–20% | - Code of Ethics and Standards of Professional Conduct - Global Investment Performance Standards (GIPS) |
| Topic 4: Derivatives | 5–8% | - Forwards, futures, options, swaps - Derivative markets and instruments - Derivative pricing and valuation basics |
| Topic 5: Equity Investments | 11–14% | - Market organization and structure - Equity valuation models - Industry and company analysis |
| Topic 6: Fixed Income | 11–14% | - Bond valuation and risk measures - Fixed income securities characteristics - Yield measures, spot rates, forward rates |
| Topic 7: Economics | 6–9% | - International trade and currency markets - Monetary and fiscal policy - Macroeconomics - Microeconomics |
| Topic 8: Financial Statement Analysis | 11–14% | - Inventories, long-lived assets, taxes, debt - Financial reporting standards - Income statement, balance sheet, cash flow statement - Ratio analysis and profitability |
| Topic 9: Quantitative Methods | 6–9% | - Regression and time-series analysis - Probability and hypothesis testing - Time value of money - Statistical concepts and returns |
| Topic 10: Corporate Issuers | 6–9% | - Capital budgeting - Business and financial risk - Capital structure - Corporate governance |
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