CFA Exam Topic Area Weights
CFA Exam Topic Area Weights
CFA Exam Topic Area Weights
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CFA Exam Topic Area Weights
Topic Area Level ILevel IILevel III
Ethical and Professional Standards 15 10-15 10-15
Quantitative Methods 12 5-10 0
Economics 10 5-10 5-15
Financial Reporting and Analysis 20 15-20 0
Corporate Finance 7 5-15 0
Equity Investments 10 15-25 5-15
Fixed Income 10 10-20 10-20
Derivatives 5 5-15 5-15
Alternative Investments 4 5-10 5-15
Portfolio Management and Wealth Planning7 5-10 40-55
Total 100 100 100
Note: These weights (updated July 2014) 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.
The CBOK and Practice Analysis
The Candidate Body Of Knowledge (CBOK) (PDF) represents the core knowledge, skills, and abilities
generally accepted and applied by investment professionals globally. It is grounded in practice, meaning that
panels and surveys of thousands of investment professionals have had input into the Course of Study. Learn
more about practice analysis.
What is GBIK?
The Candidate Body of Knowledge (CBOK) is derived from the Global Body of Investment Knowledge (GBIK).
See the GBIK outline.
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