CFA Exam Syllabus

The CFA Level I exam covers a broad range of topics. Here are the major subject areas included in the Level I syllabus:

1. 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.

2. 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.

3. Economics: The economics section covers microeconomics and macroeconomics, including supply and demand analysis, market structures, monetary and fiscal policy, and international trade.

4. 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.

5. Corporate Finance: This area covers topics related to corporate finance, including capital budgeting, cost of capital, capital structure, dividend policy, and corporate governance.

6. Equity Investments: The equity investments section focuses on equity markets, equity valuation models, industry and company analysis, and equity portfolio management.

7. Fixed Income: This section delves into fixed income securities, bond valuation, yield measures, fixed income markets, and fixed income portfolio management.

8. Derivatives: This area covers derivatives instruments, including options, futures, forwards, and swaps, along with their valuation and strategies for their use.

9. Alternative Investments: This section introduces alternative investment types, such as real estate, private equity, hedge funds, and commodities, along with their characteristics and valuation.

10. 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.