CFA (Chartered Financial Analyst) Syllabus 2024: Subjects, Semester-wise Syllabus PDF, Top Colleges, Books
Pragati SinghSenior Executive - Content
CFA Syllabus: CFA Institute prescribes the CFA course syllabus for all three exam levels. The topics included in the CFA course curriculum for all three exam levels remain the same, with differences in the difficulty level and the weightage. CFA course covers topics that help students develop investment analysis and portfolio management skills. With a dynamic CFA syllabus, the institute focuses on adapting modern financial practices to equip students with the ever-changing economic environment.
CFA syllabus includes chapters focusing on finance and related topics, such as Economics, Financial Statement Analysis, Equity Investments, Derivatives, Alternative Investments, Portfolio Management, Wealth Planning, etc. A CFA student must pass all three levels of the CFA exam along with the necessary work experience to become a charter holder.
- CFA Syllabus: Important Facts About the Course
- CFA Syllabus
- 2.1 Core Subjects in CFA Syllabus
- Detailed CFA Syllabus
- CFA Books & Study Material
- FAQs on CFA Syllabus
CFA Syllabus: Important Facts About the Course
- CFA is not a fixed semester course: CFA course is designed to certify professionals in the field of financial analysis. The course is globally recognised by organisations to entrust charter holders with their financial planning skills. Candidates can obtain a charter in approximately 1.5 years if they pass three levels of the CFA exam in their first attempt.
- Scope of CFA in India: CFA syllabus focuses on delivering foundational and critical knowledge of advanced investment analysis and portfolio management. With the growing economy, the skill of financial planning will be required by the masses. Wealth management firms, with the help of CFA professionals, are expected to grow enormously in the coming years.
- Levels of CFA Course: CFA Institute offers the course in three levels. Candidates must pass the first level to be eligible for the second level of the CFA course. Similarly, CFA level 2 qualifiers are eligible for the level 3 exam.
- Eligibility: Candidates must hold a bachelor’s degree in relevant fields to register for a CFA course. Candidates who are in the last year of the degree are also eligible to appear for Level I exam; however, will not be allowed to sit in Level II exam until they receive the degree. Alternatively, 4000+ hours of relevant work experience makes the aspirant eligible for a CFA course.
CFA Syllabus
After passing the CFA exam for three-course levels, one is designated a CFA or Chartered Financial Analyst. As per the CFA course curriculum, students are taught as many as 10 core CFA subjects.
Core Subjects in CFA Syllabus
The space below mentions the CFA core subjects in all three levels of the CFA course:
| CFA Subject |
CFA Subject Details |
|---|---|
| Ethical and Professional Standards |
Under this CFA subject, students are taught financial ethics, challenges to ethical behaviour, and the importance of being a professional. Additionally, students are taught to stick to these ethics in the investment industry. |
| Quantitative Methods |
This study of this CFA subject comprises quantitative techniques and applications of investment decision-making. Financial analysis is explored and tested with these quantitative techniques. This section also considers probability theory, its application in quantifying risk, and the characteristics of return distributions. |
| Economics |
This CFA subject introduces the concepts related to demand and supply. Various existing market structures for firms, macroeconomic concepts, and principles such as aggregate output, aggregate demand, business cycles, and its effects in economic terms are also covered under this topic of CFA curriculum. |
| Financial Statement Analysis |
The standards governing and disclosing financial reporting as well as procedures of financial reporting are effectively explained in this CFA subject. Techniques to examine primary financial statements are provided to conduct financial statement analysis. Additionally, students learn the basic financial statements, how alternative accounting methods affect these statements and how analysis is emphasised. |
| Corporate Issuers |
This CFA subject comprises knowledge to make finance and investment decisions within corporate governance. Additionally, students get an overview of corporate governance, the impact that social and environmental consideration have on investing, using leverage, and managing working capital. |
| Equity Investments |
In this CFA topic, students learn everything related to equity, including how basic equity models are used, equity securities, how to analyse industries and companies, characteristics of equity investments, security markets, and indexes. |
| Fixed Income |
This CFA subject describes securities categorised under fixed-income, yield measures, risk factors, drivers, and measurements of valuation. Calculating yields and values of fixed income securities, basic principles of credit analysis, fundamentals of bonds risks and returns, and securitisation of assets are also covered. |
| Derivatives |
Students learn about the derivative markets and basic derivatives in this section of CFA syllabus. Students are introduced to valuation concepts and essential features for forward commitment. Additionally, students learn about arbitrage to understand the link between derivative pricing and the underlying asset price. |
| Alternative Investments |
Several minute topics other than equity are covered under this subject of CFA syllabus. Topics include hedge funds, real estate, infrastructure, debentures, commodities, and more. |
| Portfolio Management and Wealth Planning |
This CFA subject focuses on the fundamentals of risk and portfolio, along with risk and return measurement. Students learn about managing and creating portfolios. The range of available investment solutions are taught focusing the institutional and individual investors. |
The CFA course curriculum does not have any elective subjects. Candidates, irrespective of their course level, have to study all the core subjects mentioned above.
Also Read: CFA Exam Syllabus
Detailed CFA Syllabus
The Chartered Financial Analyst syllabus comprises topics under accounting, investing, and economics. The table below indicates CFA syllabus for Level I, II, and III with the topic weightage in the exam:
| CFA Course Level |
CFA Subject |
Weightage in CFA Exam |
|---|---|---|
| CFA Level I Syllabus |
Ethical and Professional Standards |
15-20 |
| Quantitative Methods |
8-12 |
|
| Economics |
8-12 |
|
| Financial Statement Analysis |
12-17 |
|
| Corporate Issuers |
8-12 |
|
| Equity Investments |
10-12 |
|
| Fixed Income |
10-12 |
|
| Derivatives |
5-8 |
|
| Alternative Investments |
5-8 |
|
| Portfolio Management and Wealth Planning |
5-8 |
|
| CFA Level II Syllabus |
Ethical and Professional Standards |
10-15 |
| Quantitative Methods |
5-10 |
|
| Economics |
5-10 |
|
| Financial Statement Analysis |
10-15 |
|
| Corporate Issuers |
5-10 |
|
| Equity Investments |
10-15 |
|
| Fixed Income |
10-15 |
|
| Derivatives |
5-10 |
|
| Alternative Investments |
5-10 |
|
| Portfolio Management and Wealth Planning |
10-15 |
|
| CFA Level III Syllabus |
Ethical and Professional Standards |
10-15 |
| Economics |
5-10 |
|
| Equity Investments |
10-15 |
|
| Fixed Income |
15-20 |
|
| Derivatives |
5-10 |
|
| Alternative Investments |
5-10 |
|
| Portfolio Management and Wealth Planning |
35-40 |
CFA Books & Study Material
CFA Institute provides the books for each course level. Soon after the candidates register for the CFA program, they gain access to several study tools and resources. CFA books help candidates prepare for the exam.
Soon after the CFA registration, candidates gain access to the following:
- Official program curriculum
- Custom study plans designed just for you
- Study sessions for each level
- Practice questions throughout the curriculum
- Study resources and tips
- Mock exam, mimicking the exam-day experience
CFA Institute facilitates access to its learning ecosystem and community to help students on their path to becoming CFA charter holders.
Read More:
- CFA Exam Exam Pattern
- Chartered Accountancy
- CPA (Certified Public Accountant)
- Certificate in Wealth Management (CWM)
- All About Company Secretary (CS)
FAQs on CFA Syllabus
Q: What does a CFA do?
Q: How difficult is CFA?
Q: What is the CFA certification?
Q: What type of topics are included in the CFA syllabus?
Q: What is the eligibility for CFA Level I exam?
Q: Are CFAs in demand?
Q: What careers are the best after pursuing CFA?
Q: Can I study CFA on my own?
Q: What is the CFA course duration?
Q: Is there any age limit to apply for the course?
Q: Can I go abroad after CFA?
Q: Does CFA help you pursue a career in stock markets?
Q: How many times can you take the exam?
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News & Updates
Dec 5, 2024
Student Forum
Anything you would want to ask experts?Answered 2 weeks ago
Some of the highest paid CFAs are as follows:
- Junior Analyst: INR 6 Lacs to INR 10 Lacs per year
- Chief Investment Officer: INR 40 Lacs to INR 1 crore+ per year
- Investment Banker: INR 10 Lacs to INR 30 Lacs per year
- Portfolio Manager: INR 18 Lacs to INR 40 Lacs per year
M
Beginner-Level 4
Answered 2 weeks ago
In India, CFAs earn better than CAs as average salary for CAs is INR 7 to 15 LPA, while for CFAs it is INR 9 to 40 LPA. However, it can vary based on the location, experience and designation.
R
Beginner-Level 4
Answered 2 weeks ago
CFA was earlier known as the Association for Investment Management and Research, CFA Institute (AIMR). Through its tests and certifications, the CFA Institute ensures that there are financial experts who have a high standard of excellence. The CFA Institute offers an Investment Foundations Program a
M
Beginner-Level 4
Answered 3 weeks ago
College of Fine Arts (CFA) Thiruvananthapuram usually opens its admission in May or June. It consists of application form submission either online or offline, entrance exam to evaluate the artistic skill, and may require a portfolio during the interview process. The final selection will be made thro
A
Contributor-Level 7
Answered a month ago
I want to know that CFA SPSAT CUET AMU LUACMAT URATPG By giving which exam I'll get the best package, less package. For BBA
A
Contributor-Level 10
Answered 2 months ago
The CFA Program enables candidates to customize their preparation to match their individual needs and circumstances. Following are some numbers to consider in planning a study strategy for the CFA Level II exam.
- Successful candidates report studying on average over 300 hours for each level of the CFA
A
Contributor-Level 10
Answered 2 months ago
The CFA Institute is a global, not-for-profit professional organization that provides investment professionals with finance education. Here are its main features:
- Education: The CFA Institute offers educational programs, including a digital learning platform with study tools, practice questions, and
A
Contributor-Level 10
Answered 2 months ago
CFA full form is Chartered Financial Analyst. It's a professional certification program that teaches students about investment analysis and other areas of finance. The CFA program is offered by the CFA Institute, a US-based organization. The CFA program is designed to:
- Provide students with the skill
A
Contributor-Level 10
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