CFA Level I 2026 Syllabus

Topics R No.
Quants 1
Quants 2
Quants 3
Quants 4
Quants 5
Quants 6
Quants 7
Quants 8
Quants 9
Quants 10
Quants 11
Eco 12
Eco 13
Eco 14
Eco 15
Eco 16
Eco 17
Eco 18
Eco 19
CI 20
CI 21
CI 22
CI 23
CI 24
CI 25
CI 26
FRA 27
FRA 28
FRA 29
FRA 30
FRA 31
FRA 32
FRA 33
FRA 34
FRA 35
FRA 36
FRA 37
FRA 38
Equity 39
Equity 40
Equity 41
Equity 42
Equity 43
Equity 44
Equity 45
Equity 46
FI 47
FI 48
FI 49
FI 50
FI 51
FI 52
FI 53
FI 54
FI 55
FI 56
FI 57
FI 58
FI 59
FI 60
FI 61
FI 62
FI 63
FI 64
FI 65
Derivatives 66
Derivatives 67
Derivatives 68
Derivatives 69
Derivatives 70
Derivatives 71
Derivatives 72
Derivatives 73
Derivatives 74
Derivatives 75
AI 76
AI 77
AI 78
AI 79
AI 80
AI 81
AI 82
PM 83
PM 84
PM 85
PM 86
PM 87
PM 88
Ethics 89
Ethics 90
Ethics 91
Ethics 92
Ethics 93
el I 2026 Syllabus
Reading Name
Rates and Return
The Time Value of Money in Finance
Statistical Measures of Asset Returns
Probability Trees and Conditional Expectations
Portfolio Mathematics
Simulation Methods
Estimation and Inference
Hypothesis Testing
Parametric and Non-Parametric Tests of Independence
Simple Linear Regression
Introduction to Big Data Techniques
Firms and Market Structures
Understanding Business Cycles
Fiscal Policy
Monetary Policy
Introduction to Geopolitics
International Trade
Capital Flows and the FX Market
Exchange Rate Calculations
Organizational Forms, Corporate Issuer Features, and Ownership
Investors and Other Stakeholders
Corporate Governance: Conflicts, Mechanisms, Risks, and Benefits
Working Capital and Liquidity
Capital Investments and Capital Allocation
Capital Structure
Business Models
Introduction to Financial Statement Analysis
Analyzing Income Statements
Analyzing Balance Sheets
Analyzing Statements of Cash Flows I
Analyzing Statements of Cash Flows II
Analysis of Inventories
Analysis of Long-Term Assets
Topics in Long-Term Liabilities and Equity
Analysis of Income Taxes
Financial Reporting Quality
Financial Analysis Techniques
Introduction to Financial Statement Modeling
Market Organization and Structure
Security Market Indexes
Market Efficiency
Overview of Equity Securities
Company Analysis: Past and Present
Industry and Competitive Analysis
Company Analysis: Forecasting
Equity Valuation: Concepts and Basic Tools
Fixed-Income Instrument Features
Fixed-Income Cash Flows and Types
Fixed-Income Issuance and Trading
Fixed-Income Markets for Corporate Issuers
Fixed-Income Markets for Government Issuers
Fixed-Income Bond Valuation: Prices and Yields
Yield and Yield Spread Measures for Fixed-Rate Bonds
Yield and Yield Spread Measures for Floating-Rate Instruments
The Term Structure of Interest Rates: Spot, Par, and Forward Curves
Interest Rate Risk and Return
Yield-Based Bond Duration Measures and Properties
Yield-Based Bond Convexity and Portfolio Properties
Curve-Based and Empirical Fixed-Income Risk Measures
Credit Risk
Credit Analysis for Government Issuers
Credit Analysis for Corporate Issuers
Fixed-Income Securitization
Asset-Backed Security (ABS) Instrument and Market Features
Mortgage-Backed Security (MBS) Instrument and Market Features
Derivative Instrument and Derivative Market Features
Forward Commitment and Contingent Claim Features and Instruments
Derivative Benefits, Risks, and Issuer and Investor Uses
Arbitrage, Replication, and the Cost of Carry in Pricing Derivatives
Pricing and Valuation of Forward Contracts and for an Underlying with Varying
Maturities
Pricing and Valuation of Futures Contracts
Pricing and Valuation of Interest Rates and Other Swaps
Pricing and Valuation of Options
Option Replication Using Put–Call Parity
Valuing a Derivative Using a One-Period Binomial Model
Alternative Investment Features, Methods, and Structures
Alternative Investment Performance and Returns
Investments in Private Capital: Equity and Debt
Real Estate and Infrastructure
Natural Resources
Hedge Funds
Introduction to Digital Assets
Portfolio Risk and Return: Part I
Portfolio Risk and Return: Part II
Portfolio Management: An Overview
Basics of Portfolio Planning and Construction
The Behavioral Biases of Individuals
Introduction to Risk Management
Ethics and Trust in the Investment Profession
Code of Ethics and Standards of Professional Conduct
Guidance for Standards I–VII
Introduction to the Global Investment Performance Standards (GIPS)
Ethics Applications
Refer Video Lecture No.
Lecture 1 and 2
Lecture 1 and 2
Lecture 76
Lecture 77
Lecture 78
Lecture 85 to 90
Lecture 85 to 90
Lecture 85 to 90
Lecture 85 to 90
Lecture 85 to 90
Lecture 85 to 90
Lecture 71
Lecture 75
Lecture 72 and 73
Lecture 72 and 73
Lecture 74
Lecture 68 to 70
Lecture 68 to 70
Lecture 68 to 70
Lecture 48 to 50
Lecture 48 to 50
Lecture 48 to 50
Lecture 47
Lecture 46
Lecture 51 and 52
Lecture 51 and 52
Lecture 8
Lecture 6
Lecture 11
Lecture 4 and 5
Lecture 7
Lecture 3
Lecture 4 and 5
Lecture 12
Lecture 9
Lecture 13
Lecture 10
Lecture 14
Lecture 55
Lecture 56
Lecture 57
Lecture 54
Lecture 58 to 60
Lecture 58 to 60
Lecture 58 to 60
Lecture 53
Lecture 28 and 29
Lecture 28 and 29
Lecture 30 to 32
Lecture 30 to 32
Lecture 30 to 32
Lecture 20 to 23
Lecture 20 to 23
Lecture 20 to 23
Lecture 20 to 23
Lecture 24 to 27
Lecture 24 to 27
Lecture 24 to 27
Lecture 24 to 27
Lecture 33 to 35
Lecture 33 to 35
Lecture 33 to 35
Lecture 33 to 35
Lecture 33 to 35
Lecture 33 to 35
Lecture 36 to 45
Lecture 36 to 45
Lecture 36 to 45
Lecture 36 to 45
Lecture 36 to 45
Lecture 36 to 45
Lecture 36 to 45
Lecture 36 to 45
Lecture 36 to 45
Lecture 36 to 45
Lecture 61 to 67
Lecture 61 to 67
Lecture 61 to 67
Lecture 61 to 67
Lecture 61 to 67
Lecture 61 to 67
Lecture 61 to 67
Lecture 79 and 80
Lecture 79 and 80
Lecture 81 and 82
Lecture 81 and 82
Lecture 84
Lecture 83
Lecture 15 to 18
Lecture 15 to 18
Lecture 15 to 18
Lecture 19
Lecture 15 to 18
CFA Level I 2026 Syllabus
Topics Lecture No. R No.
Quants 1 NA
Quants 2 NA
CI 3 24
CI 4 23
CI 5 20/21/22

CI 6 21

Ethics 7 89 to 93
Ethics 8 89 to 93
Derivatives 9 66 to 75
Derivatives 10 66 to 75
Derivatives 11 66 to 75
Derivatives 12 66 to 75
FI 13 52 & 53

FI 14 54 & 55

FI 15 56 & 57

FI 16 58 & 59

FI 17 47 & 48

FI 18 49 to 51

FI 19 63 to 65

FI 20 60 to 62

AI 21 76 to 82
AI 22 76 to 82
Equity 23 42
Equity 24 46
Equity 25 39
Equity 26 40
Equity 27 41
Equity 28 43 to 45

Quants 1 1
Quants 2 2
Quants 29 3
Quants 30 4&5

PM 31 83
PM 32 84
PM 33 85
PM 34 86
PM 35 87
PM 36 88
Quants 37 6 and 7
Quants 38 8 and 9

Quants 39 10
Quants 40 11
Eco 41 12 and 13

Eco 42 14 and 15

Eco 43 16
Eco 44 17 to 19

Eco 45 18

FRA 46 27
FRA 47 28
FRA 48 29
FRA 49 30
FRA 50 31
FRA 51 32
FRA 52 33
FRA 53 34
FRA 54 35
FRA 55 36
FRA 56 37
FRA 57 38
Reading Name Date
How to use calculator 17-May-25
How to use calculator 18-May-25
Capital Investments and Capital Allocation 24-May-25
Working Capital and Liquidity 25-May-25
Organizational Forms, Corporate Issuer Features, and Ownership, 31-May-25
Investors and Other Stakeholders
Corporate Governance: Conflicts, Mechanisms, Risks, and Benefits

Capital Structure 1-Jun-25

Business Models

Ethics 7-Jun-25
Ethics 8-Jun-25
Derivatives 14-Jun-25
Derivatives 15-Jun-25
Derivatives 21-Jun-25
Derivatives 22-Jun-25
Fixed-Income Bond Valuation: Prices and Yields 28-Jun-25
Yield and Yield Spread Measures for Fixed-Rate Bonds

Yield and Yield Spread Measures for Floating-Rate Instruments 29-Jun-25

The Term Structure of Interest Rates: Spot, Par, and Forward Curves

Interest Rate Risk and Return 5-Jul-25

Yield-Based Bond Duration Measures and Properties

Yield-Based Bond Convexity and Portfolio Properties 6-Jul-25

Curve-Based and Empirical Fixed-Income Risk Measures

Fixed-Income Instrument Features 12-Jul-25

Fixed-Income Cash Flows and Types

Fixed-Income Issuance and Trading 13-Jul-25

Fixed-Income Markets for Corporate Issuers
Fixed-Income Markets for Government Issuers

Fixed-Income Securitization 19-Jul-25

Asset-Backed Security (ABS) Instrument and Market Features
Mortgage-Backed Security (MBS) Instrument and Market Features

Credit Risk 20-Jul-25

Credit Analysis for Government Issuers
Credit Analysis for Corporate Issuers

AI 26-Jul-25
AI 27-Jul-25
Overview of Equity Securities 2-Aug-25
Equity Valuation: Concepts and Basic Tools 3-Aug-25
Market Organization and Structure 9-Aug-25
Security Market Indexes 10-Aug-25
Market Efficiency 16-Aug-25
Company Analysis: Past and Present 17-Aug-25
Industry and Competitive Analysis
Company Analysis: Forecasting

Rates and Return 23-Aug-25

The Time Value of Money in Finance 24-Aug-25
Statistical Measures of Asset Returns 30-Aug-25
Probability Trees and Conditional Expectations 31-Aug-25
Portfolio Mathematics

Portfolio Risk and Return: Part I 6-Sep-25

Portfolio Risk and Return: Part II 7-Sep-25
Portfolio Management: An Overview 13-Sep-25
Basics of Portfolio Planning and Construction 14-Sep-25
The Behavioral Biases of Individuals 20-Sep-25
Introduction to Risk Management 21-Sep-25
Simulation Methods 27-Sep-25
Hypothesis Testing 28-Sep-25
Parametric and Non-Parametric Tests of Independence

Simple Linear Regression 4-Oct-25

Introduction to Big Data Techniques 5-Oct-25
Firms and Market Structures 11-Oct-25
Understanding Business Cycles

Fiscal Policy 12-Oct-25

Monetary Policy

Introduction to Geopolitics 18-Oct-25

International Trade 19-Oct-25
Capital Flows and the FX Market

Capital Flows and the FX Market 25-Oct-25

Exchange Rate Calculations

Introduction to Financial Statement Analysis 26-Oct-25

Analyzing Income Statements 1-Nov-25
Analyzing Balance Sheets 2-Nov-25
Analyzing Statements of Cash Flows I 8-Nov-25
Analyzing Statements of Cash Flows II 9-Nov-25
Analysis of Inventories 15-Nov-25
Analysis of Long-Term Assets 16-Nov-25
Topics in Long-Term Liabilities and Equity 22-Nov-25
Analysis of Income Taxes 23-Nov-25
Financial Reporting Quality 29-Nov-25
Financial Analysis Techniques 30-Nov-25
Introduction to Financial Statement Modeling 6-Dec-25
Day Timing Refer Video Lecture No.
Saturday 2 pm to 6 pm NA
Sunday 2 pm to 6 pm NA
Saturday 2 pm to 6 pm Lecture 46
Sunday 2 pm to 6 pm Lecture 47
Saturday 2 pm to 6 pm Lecture 48 to 50

Sunday 2 pm to 6 pm Lecture 48 to 50

Saturday 2 pm to 6 pm Lecture 15 to 19
Sunday 2 pm to 6 pm Lecture 15 to 19
Saturday 2 pm to 6 pm Lecture 36 to 45
Sunday 2 pm to 6 pm Lecture 36 to 45
Saturday 2 pm to 6 pm Lecture 36 to 45
Sunday 2 pm to 6 pm Lecture 36 to 45 Batch 5 will be over.
Saturday 2 pm to 6 pm Lecture 20 to 23

Sunday 2 pm to 6 pm Lecture 20 to 23

Saturday 2 pm to 6 pm Lecture 24 to 27

Sunday 2 pm to 6 pm Lecture 24 to 27

Saturday 2 pm to 6 pm Lecture 28 and 29

Sunday 2 pm to 6 pm Lecture 30 to 32

Saturday 2 pm to 6 pm Lecture 33 to 35

Sunday 2 pm to 6 pm Lecture 33 to 35

Saturday 2 pm to 6 pm Lecture 61 to 67
Sunday 2 pm to 6 pm Lecture 61 to 67 Batch 6 will be over
Saturday 2 pm to 6 pm Lecture 54
Sunday 2 pm to 6 pm Lecture 53
Saturday 2 pm to 6 pm Lecture 55
Sunday 2 pm to 6 pm Lecture 56
Saturday 2 pm to 6 pm Lecture 57
Sunday 2 pm to 6 pm Lecture 58 to 60

Saturday 2 pm to 6 pm Lecture 1 and 2

Sunday 2 pm to 6 pm Lecture 1 and 2
Saturday 2 pm to 6 pm Lecture 76
Sunday 2 pm to 6 pm Lecture 77 and 78

Saturday 2 pm to 6 pm Lecture 79 and 80

Sunday 2 pm to 6 pm Lecture 79 and 80
Saturday 2 pm to 6 pm Lecture 81 and 82
Sunday 2 pm to 6 pm Lecture 81 and 82
Saturday 2 pm to 6 pm Lecture 84
Sunday 2 pm to 6 pm Lecture 83
Saturday 2 pm to 6 pm Lecture 85 to 90
Sunday 2 pm to 6 pm Lecture 85 to 90

Saturday 2 pm to 6 pm Lecture 85 to 90
Sunday 2 pm to 6 pm Lecture 85 to 90 Batch 7 will be over
Saturday 2 pm to 6 pm Lecture 71 and 75

Sunday 2 pm to 6 pm Lecture 72 and 73

Saturday 2 pm to 6 pm Lecture 74
Sunday 2 pm to 6 pm Lecture 68 to 70

Saturday 2 pm to 6 pm Lecture 68 to 70

Sunday 2 pm to 6 pm Lecture 8
Saturday 2 pm to 6 pm Lecture 6
Sunday 2 pm to 6 pm Lecture 11
Saturday 2 pm to 6 pm Lecture 4 and 5
Sunday 2 pm to 6 pm Lecture 7
Saturday 2 pm to 6 pm Lecture 3
Sunday 2 pm to 6 pm Lecture 4 and 5
Saturday 2 pm to 6 pm Lecture 12
Sunday 2 pm to 6 pm Lecture 9
Saturday 2 pm to 6 pm Lecture 13
Sunday 2 pm to 6 pm Lecture 10
Saturday 2 pm to 6 pm Lecture 14 Batch 8 will be over