CFA® Exam Topics
I. Ethical and Professional Standards
  • Professional Standards of Practice
  • Ethical Practices
II. Quantitative Methods
  • 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
III. 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
IV. Financial Reporting and Analysis
  • Financial Reporting System (IFRS and GAAP)
  • Principal Financial Statements
  • Financial Reporting Quality
  • Analysis of Inventories
  • Analysis of 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 
V. Corporate Finance
  • Corporate Governance
  • Dividend Policy
  • Capital Investment Decisions
  • Business and Financial Risk
  • Long-Term Financial Policy
  • Short-Term Financial Policy
  • Mergers and Acquisitions and Corporate Restructuring
VI. Equity Investments
  • Types of Equity Securities and their Characteristics
  • Equity Markets: Characteristics, Institutions, and Benchmarks
  • Fundamental Analysis (Sector, Industry, Company) and the Valuation of Individual Equity Securities
  • Equity Market Valuation and Return Analysis
  • Special Applications of Fundamental Analysis (Residual Earnings)
  • Equity of Hybrid Investment Vehicles
VII. Fixed Income
  • Types of Fixed-Income Securities and their Characteristics
  • Fixed-Income Markets: Characteristics, Institutions, and 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
VIII. Derivatives
  • Types of Derivative Instruments and their Characteristics
  • . Forward Markets and Instruments
  • Futures Markets and Instruments
  • Options Markets and Instruments
  • Swaps Markets and Instruments
  • Credit Derivatives Markets and Instruments
IX. Alternative Investments
  • Types of Alternative Investments and their Characteristics
  • Real Estate
  • Private Equity/Venture Capital
  • Hedge Funds
  • Closely-held Companies and Inactively Traded Securities
  • Distressed Securities/Bankruptcies
  • Commodities
  • Tangible Assets with Low Liquidity
X. Portfolio Management and Wealth Planning
  • Portfolio Concepts
  • Management of Individual/Family Investor Portfolios
  • Management of Institutional Investor Portfolios
  • Pension Plans and Employee Benefit Funds
  • Investment Manager Selection
  • Other Institutional Investors
  • Mutual Funds, Pooled Funds, and ETFs
  • Economic Analysis and Setting Capital Market Expectations
  • Tax Efficiency
  • Asset Allocation (including Currency Overlay)
  • Portfolio Construction and Revision
  • Equity Portfolio Management Strategies
  • Fixed-Income Portfolio Management Strategies
  • Alternative Investments Management Strategies
  • Risk Management
  • Execution of Portfolio Decisions (Trading)
  • Performance Evaluation
  • Presentation of Performance Results



Need help? Contact us at +1.800.609.2889
Copyright © 2000-2009 Spherevox LLC.  All rights reserved. 

CFA Institute does not endorse, promote or warrant the accuracy or quality of Spherevox, LLC.  CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.