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Master the complete CFA Level 1 curriculum with our comprehensive topic guides. Each topic includes detailed subtopics, learning outcomes, and practice questions aligned with the latest CFA Institute standards.
10
Core Topics
99
Subtopics
521
Key Concepts
2026
Curriculum Year
Click on any topic to explore subtopics and detailed learning outcomes
Statistical and mathematical tools for investment analysis and portfolio management.
Microeconomic and macroeconomic principles affecting investment decisions.
Corporate governance, capital structure, and business operations analysis.
Analysis and interpretation of financial statements for investment decisions.
Equity markets, security analysis, and valuation techniques.
Bond markets, valuation, and interest rate risk management.
Derivative instruments, pricing, and risk management applications.
Private equity, real estate, commodities, and hedge fund investments.
Portfolio theory, asset allocation, and risk management strategies.
CFA Institute Code of Ethics, Standards of Practice, and GIPS.
Understanding the exam weight distribution helps you allocate study time effectively
Quantitative Methods
6-9%
Economics
6-9%
Corporate Issuers
6-9%
Financial Statement Analysis
11-14%
Equity Investments
11-14%
Fixed Income
11-14%
Derivatives
5-8%
Alternative Investments
5-8%
Portfolio Management
8-12%
Ethical and Professional Standards
15-20%
The CFA Level 1 exam consists of 180 multiple-choice questions split across two 2-hour 15-minute sessions. Topics with higher weights naturally have more questions, so prioritize accordingly. Ethical and Professional Standards carries the highest weight at 15-20%.
Access our comprehensive question bank with thousands of practice questions, detailed explanations, and performance tracking to help you pass the CFA Level 1 exam.
3,000+
Questions
10
Topics
100%
2026 Curriculum
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