What are the main topic areas covered in the CFA syllabus?

The CFA syllabus covers topic areas related to investment management, financial analysis, ethics, and professional standards. Main topics are: 1. Ethics and Professional Standards 2. Quantitative Methods: 3. Economics: 4. Financial Reporting and Analysis 5. Corporate Finance 6. Fixed Income 7. Equity Investment 8. Derivatives 9. Alternative Investments 10. Portfolio Management and Wealth Planning These main topic areas are present across all three levels of the CFA exam. The complexity increases with each passing level.

Can I use third-party study materials to supplement the CFA syllabus?

CFA Institute provides the official CFA curriculum but students can always use third-party study material to enhance their CFA exam preparation. Students should opt for study resources from reputable sources. Look for CFA books and study material which explains complex topics and concepts. The CFA Institute provides a list of approved prep providers on its website, which can be a good starting point.

What subjects are there in CFA Level 1?

The CFA Level I exam covers a broad range of topics. Here are the major subject areas included in the Level I syllabus: Ethical and Professional Standards: This section emphasizes the ethical and professional responsibilities of investment professionals, including the CFA Institute's Code of Ethics and Standards of Professional Conduct. Quantitative Methods: This area focuses on quantitative techniques and methods used in investment analysis, including statistical concepts, probability theory, time value of money, and basic regression analysis. Economics: The economics section covers microeconomics and macroeconomics, including supply and demand analysis, market structures, monetary and fiscal policy, and international trade. Financial Reporting and Analysis: This section explores the principles and analysis of financial reporting, including the interpretation of financial statements, financial ratio analysis, and understanding key accounting concepts. Corporate Finance: This area covers topics related to corporate finance, including capital budgeting, cost of capital, capital structure, dividend policy, and corporate governance. Equity Investments: The equity investments section focuses on equity markets, equity valuation models, industry and company analysis, and equity portfolio management. Fixed Income: This section delves into fixed income securities, bond valuation, yield measures, fixed income markets, and fixed income portfolio management. Derivatives: This area covers derivatives instruments, including options, futures, forwards, and swaps, along with their valuation and strategies for their use. Alternative Investments: This section introduces alternative investment types, such as real estate, private equity, hedge funds, and commodities, along with their characteristics and valuation. Portfolio Management and Wealth Planning: This final section addresses portfolio management concepts, including portfolio theory, risk management, performance evaluation, and wealth planning strategies. These topics provide a general overview of the major subject areas covered in the CFA Level I syllabus. Each subject area encompasses various subtopics, and the CFA Institute provides a detailed curriculum that outlines the specific learning outcomes for each level. It's essential to refer to the official CFA Institute curriculum and study materials for a comprehensive understanding of the exam content.

Is the CFA Level 1 syllabus very tough?

The CFA syllabus is considered the toughest amongst all the finance professional courses. CFA Level 1 syllabus is also considered tough, but it is not the toughest among the three levels of the CFA exam. Candidates must dedicate at least 300-400 hours to cover and prepare for the CFA Level 1 exam syllabus.

Why has the CFA institute introduced specialised pathways for Level 3?

The CFA institute has introduced the specialised pathways because: Career discovery Mastering a specific field Choosing which field aligns best with interests and aspirations of the students Credentialing. Passing a challenging exam for the role will benefit the candidates by benefiting their clients and their employers.

Can I change my pathway after registering for the level 3 CFA exam?

No, candidates cannot change their pathway in the middle of the CFA registration process. If the candidate is taking the CFA Level 3 exam for the second time, then they have the option of changing their specialised pathway. The content for all the three pathways are available online for CFA preparation.

CFA Syllabus 2026 (Available): Download Latest Syllabus, Study Material PDF for Level I, II & III Exam

Registration - 12 Aug '25 - 12 Feb '26

Updated on Nov 27, 2025 14:18 IST

By Saumya Jain, Assistant Manager- Content

CFA 2026 syllabus consists of the concepts of the academic disciplines of Finance and Investment. The CFA syllabus for all three levels, i.e. Level I, II and III is the same (more or less); however, the weightage of the questions differs at each level. It assesses the candidates on a varied range of concepts, such as Financial, Accounting-related or Mathematical. The core areas in the CFA study material include Ethical and Professional Standards, Quantitative Methods, Corporate Finance, Equity Investments, Portfolio Management, Fixed Income, Derivatives, etc. Shiksha brings everything about CFA syllabus and weightage of the questions, important topics and subtopics, etc. Read below to know the detailed CFA syllabus 2026 and study materials.

Also Read: When is CFA exam 2026?

Table of contents

CFA Level 1 Syllabus 2026
CFA 2026 Syllabus for Level 2
CFA Exam Syllabus 2026 for Level 3
CFA Level 3 Specialised Pathways
FAQs Related to CFA Syllabus

CFA Level 1 Syllabus 2026

CFA 2026 Syllabus for Level 2

CFA Exam Syllabus 2026 for Level 3

CFA Level 3 Specialised Pathways

FAQs Related to CFA Syllabus

News & Updates

Latest NewsPopular News

CFA Syllabus 2026 (Available): Download Latest Syllabus, Study Material PDF for Level I, II & III Exam

CFA Level 1 Syllabus 2026

CFA 2026 Syllabus for Level 2

CFA Exam Syllabus 2026 for Level 3

CFA Level 3 Specialised Pathways

FAQs Related to CFA Syllabus

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