CFA Level 1 Curriculum
CFA Level 1 Curriculum:- The curriculum for each exam level is organized into 18 study sessions, where each study session includes assigned readings, learning outcome statements (LOS), and problem sets that demonstrate practical application and reinforce understanding of the concepts presented in the reading.

cfa-level-1-curriculum
CFA Program candidates and prospective candidates should order the curriculum during the registration process.
Curriculum Options and Samples
- The printed version provides the curriculum as a set of six printed volumes.
- The eBook version provides access to the curriculum in digital format for use on a personal computer, iOS devices (Apple), and Android devices, including the Kindle Fire, eliminating shipping and customs fees.
CFA Level 1 Curriculum
Purchase the 2016 Curriculum
All fees are in U.S. dollars.
eBook | |||
CFA Institute Members | $150 (+$20 shipping*) | $150 | Purchase CFA Curriculum (login required) |
Non-members | $150 (+$20 shipping*) | $150 | Contact us to order |
*Shipping charges are US$20 for locations within the United States and Canada. Shipping charges for locations outside of this area are US$75.
When you register for an exam you gain access to the curriculum materials for your exam level, including study session outlines, learning outcome statements (LOS), and source references for the readings.
Each level of the curriculum is organized into study sessions, with each study session containing a number of readings. There are learning outcome statements at the beginning of each reading.
CFA Level 1 Curriculum
What is a Learning Outcome Statement?
Learning Outcome Statements (LOS) are descriptions of specific knowledge, skills, and abilities that you should be able to apply after you complete a reading. The statements use command words such as “demonstrate,” “formulate,” or “evaluate” to indicate how much you should know about a given topic.
Curriculum Corrections
We continually update the curriculum with errata — corrections we collect, verify, and publish for your review. See the latest errata (if any) above.
CFA Level 1 Curriculum- Study Session Outlines and LOS
Below you’ll find current study session outlines, by level, which include:
- Learning outcome statements (LOS) for the readings in each study session
- Reading assignment source references
We have also provided, for each level:
- Access to the curriculum content (readings) for Study Session 1
- All study sessions combined (18 study sessions for Levels I and III, 17 study sessions for Level II)
- An index for all the study sessions combined
CFA Level 1 Curriculum
Topic | Percentage of marks | Sub-topic |
---|---|---|
Financial reporting analysis | 20 | Financial reporting mechanics & Standards |
Understanding income statements | ||
Understanding balance sheet | ||
Ethics | 15 | Standards of professional conduct |
Global Investment Performance standard | ||
Quantitative analysis | 12 | Time value of money |
Discounted cash flow applications | ||
Statistical concepts and market returns | ||
Fixed income analysis | 10 | Fixed income securities |
Fixed income markets | ||
Introduction to fixed income valuation | ||
Equity Investment | 10 | Market organization and structure |
Security market indices | ||
Market efficiency | ||
Economics | 10 | Demand & supply analysis |
The Firm & market structures | ||
Aggregate output, Prices, Economic growth | ||
Corporate finance | 7 | Capital budgeting |
Cost of capital | ||
Portfolio management and wealth planning | 7 | Portfolio management |
Basics of portfolio planning and construction | ||
Derivatives | 5 | Derivatives market and instruments |
Basics of derivative pricing and valuation | ||
Alternative investment | 4 | Mutual funds |
Real Estate | ||
Total | 100 |
CFA Level 1 Curriculum- 2016 Level I Study Sessions
Exam Weight: 15%
Exam Weight: 12%
Exam Weight: 10%
Exam Weight: 20%
Exam Weight: 7%
Exam Weight: 7%
Exam Weight: 10%
Exam Weight: 10%
Exam Weight: 5%
Exam Weight: 4%
CFA Level 1 Curriculum- 2017 Level I Study Sessions
2017 Level I Study Sessions index |2017 Level I Study Sessions combined
Exam Weight: 15%
Exam Weight: 12%
Exam Weight: 10%
Exam Weight: 20%
Exam Weight: 7%
Exam Weight: 7%
Exam Weight: 10%
Exam Weight: 10%
Exam Weight: 5%
Exam Weight: 4%
Best Recommended Read:- CFA Level 1 Syllabus and Subjects
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