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CFA Level 1 Syllabus

The document outlines the topics covered in the CFA Level 1 syllabus. It is divided into 10 main subject areas: Ethics and Professional Standards, Financial Reporting and Analysis, Quantitative Methods, Economics, Corporate Finance, Equity Investments, Fixed Income, Derivatives, Alternative Investments, and Portfolio Management and Wealth Planning. Each subject area lists the key concepts and topics candidates are expected to understand for the exam.

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4K views3 pages

CFA Level 1 Syllabus

The document outlines the topics covered in the CFA Level 1 syllabus. It is divided into 10 main subject areas: Ethics and Professional Standards, Financial Reporting and Analysis, Quantitative Methods, Economics, Corporate Finance, Equity Investments, Fixed Income, Derivatives, Alternative Investments, and Portfolio Management and Wealth Planning. Each subject area lists the key concepts and topics candidates are expected to understand for the exam.

Uploaded by

john rambo
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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CFA Level 1 Syllabus

The CFA Level 1 Syllabus 2018 can be broadly divided into the following topic areas which
are as follows:

Ethics and Professional Standards: CFA Syllabus Level 1

 The CFA – CFA Level I Ethics Module offers over 50 lectures covering the CFA ethics
module. Topics covered in the course include Professionalism.
 Integrity of Capital Markets, Duties to Clients, Duties to Employers, Investment
Analysis, Recommendations, Actions, Responsibilities as a CFA Institute Member or
CFA Candidate and GIPS.
 The course videos and study materials are designed for commerce graduates, MBA’s,
professionals and engineers. Topics covered in Ethics and Professional Standards are
as follows:
 Professional Standards of Practice
 Ethical Practices

Financial Reporting and Analysis: Syllabus Of CFA Level 1

 Popularly known as the “Accounting” module, the Financial and Reporting Analysis
module accounts for twenty percent of the marks in the CFA Level 1 exam.
 Financial reporting requires a solid foundation in accounting techniques. A strong
understanding of income statements, balance sheets
 Financial Reporting System (with an emphasis on IFRS)
 Analysis of Principal Financial Statements
 Financial Reporting Quality
 Analysis of Inventories and Long-Lived Assets
 Analysis of Taxes
 Analysis of Debt
 Analysis of Off-Balance-Sheet Assets and Liabilities
 Analysis of Pensions, Stock Compensation, and Other Employee Benefits
 Analysis of Inter-Corporate Investments
 Analysis of Business Combinations
 Analysis of Global Operations
 Ratio and Financial Analysis

Quantitative Methods: Syllabus For CFA Level 1

 The Quantitative Methods module accounts for twelve percent of the marks in the
level 1 CFA exam.
 The topics covered in this module require a firm grasp and understanding of
mathematics and statistics.
 Time Value of Money
 Probability
 Probability Distributions and Descriptive Statistics
 Sampling and Estimation
 Hypothesis Testing
 Correlation Analysis and Regression
 Time-Series Analysis
 Simulation Analysis
 Technical Analysis

Economics:

 Market Forces of Supply and Demand


 The Firm and Industry Organization
 Measuring National Income and Growth
 Business Cycles
 The Monetary System
 Inflation
 International Trade and Capital Flows
 Currency Exchange Rates
 Monetary and Fiscal Policy
 Economic Growth and Development
 Effects of Government Regulation
 Impact of Economic Factors on Investment Markets

Corporate Finance:

 Corporate Governance
 Dividend Policy
 Capital Investment Decisions
 Business and Financial Risk
 Capital Structure Decisions
 Working Capital Management
 Mergers and Acquisitions and Corporate Restructuring

Equity Investments:

 Types of Equity Securities and Their Characteristics


 Equity Markets: Characteristics and Institutions
 Equity Market Indexes and Benchmarks
 Valuation of Individual Equity Securities
 Fundamental Analysis (Sector, Industry, Company)
 Equity Market Valuation and Return Analysis
 Equity Portfolio Management Strategies

Fixed Income:

 Types of Fixed-Income Securities and Their Characteristics


 Fixed-Income Markets: Characteristics & Institutions
 Fixed Income Portfolio Benchmarks
 Fixed-Income Valuation (Sector, Industry, Company) and Return Analysis
 Term Structure Determination and Yield Spreads
 Analysis of Interest Rate Risk
 Analysis of Credit Risk
 Valuing Bonds with Embedded Options
 Structured Products
 Fixed-Income Portfolio Management Strategies

Derivatives:

 Types of Derivative Instruments and Their Characteristics


 Forward Markets and Valuation of Forward Contracts
 Futures Markets and Valuation of Futures Contracts
 Options Markets and Valuation of Option Contracts
 Swaps Markets and Valuation of Swap Contracts
 Credit Derivatives Markets and Instruments
 Uses of Derivatives in Portfolio Management

Alternative Investments:

 Types of Alternative Investments and Their Characteristics


 Real Assets and Valuation
 Real Estate Valuation
 Investment Entities and Valuation
 Private Equity/Venture Capital and Valuation
 Hedge Fund Strategies and Valuation
 Commodities
 Asset Allocation to Alternative Investments

Portfolio Management and Wealth Planning: CFA Level 1 Syllabus 2018

 The Investment Policy Statement


 Modern Portfolio Management Concepts
 Behavioral Finance
 Environmental, Social, and Governance (ESG) Investing
 Management of Individual/Family Investor Portfolios
 Management of Institutional Investor Portfolios
 Investment Manager Selection
 Economic Analysis and Setting Capital Market Expectations
 Tax Efficiency Strategies
 Asset Allocation
 Portfolio Construction and Revision
 Risk Management
 Execution of Portfolio Decisions (Trading)
 Performance Evaluation
 Presentation of Performance Results

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