Topic Area Weights for the CFA Exam


Topic Area Weights for the CFA Exam

Topic Area
Level I
Level II
Level III
Ethical and Professional Standards (total)
15
10
10
Quantitative Methods
12
5-10
0
Economics
10
5-10
0
Financial Reporting and Analysis
20
15-25
0
Corporate Finance
8
5-15
0
Investment Tools (total)
50
30-60
0
Equity Investments
10
20-30
5-15
Fixed Income
12
5-15
10-20
Derivatives
5
5-15
5-15
Alternative Investments
3
5-15
5-15
Asset Classes (total)
30
35-75
35-45
Portfolio Management and Wealth Planning (total)
5
5-15
45-55

Note: These weights are intended to guide the curriculum and exam development processes. Actual exam weights may vary slightly from year to year. Please note that some topics are combined for testing purposes.