Curriculum Errata

Updated 7 May
CFA Program Study Sessions

Candidates who register for an exam receive a complete curriculum that includes the study session outlines, learning outcome statements (LOS), and source readings references for that exam level. Study session outlines, LOS, and some sample source readings are included below.

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June 2012 Level I Study Sessions

2012 Level I Study Sessions Combined (PDF)

Level I Curriculum Index (PDF)

TopicWeightOutline and LOSReadings
Ethical and Professional Standards15Study Session 1 (PDF)1-4 (PDF)
Quantitative Methods12Study Session 2 (PDF)5-8
Study Session 3 (PDF)9-12
Economics10Study Session 4 (PDF)13-16
Study Session 5 (PDF)17-19
Study Session 6 (PDF)20-21
Financial Reporting and Analysis20Study Session 7 (PDF)22-24
Study Session 8 (PDF)25-28
Study Session 9 (PDF)29-32
Study Session 10 (PDF)33-35
Corporate Finance8Study Session 11 (PDF)36-42
Portfolio Management5Study Session 12 (PDF)43-46
Equity10Study Session 13 (PDF)47-49
Study Session 14 (PDF)50-52
Fixed Income12Study Session 15 (PDF)53-56
Study Session 16 (PDF)57-59
Derivatives5Study Session 17 (PDF)60-65
Alternative Investments3Study Session 18 (PDF)66-67
December 2012 Level I Study Sessions

2012 Level I Study Sessions Combined (PDF)

Level I Curriculum Index (PDF)

TopicWeightOutline and LOSReadings
Ethical and Professional Standards15Study Session 1 (PDF)1-4 (PDF)
Quantitative Methods12Study Session 2 (PDF)5-8
Study Session 3 (PDF)9-12
Economics10Study Session 4 (PDF)13-16
Study Session 5 (PDF)17-19
Study Session 6 (PDF)20-21
Financial Reporting and Analysis20Study Session 7 (PDF)22-24
Study Session 8 (PDF)25-28
Study Session 9 (PDF)29-32
Study Session 10 (PDF)33-35
Corporate Finance8Study Session 11 (PDF)36-42
Portfolio Management5Study Session 12 (PDF)43-46
Equity10Study Session 13 (PDF)47-49
Study Session 14 (PDF)50-52
Fixed Income12Study Session 15 (PDF)53-56
Study Session 16 (PDF)57-59
Derivatives5Study Session 17 (PDF)60-65
Alternative Investments3Study Session 18 (PDF)66-67
June 2012 Level II Study Sessions

2012 Level II Study Sessions combined (PDF)

Level II Curriculum Index (PDF)

TopicWeightOutline and LOSReadings
Ethical and Professional Standards10Study Session 1 (PDF)1-4 (PDF)
Study Session 2 (PDF)5-10
Quantitative Methods5-10Study Session 3 (PDF)11-13
Economics5-10Study Session 4 (PDF)14-19
Financial Reporting and Analysis15-25Study Session 5 (PDF)20-21
Study Session 6 (PDF)22-24
Study Session 7 (PDF)25-27
Corporate Finance5-15Study Session 8 (PDF)28-30
Study Session 9 (PDF)31-32
Equity20-30Study Session 10 (PDF)33-35
Study Session 11 (PDF)36-39
Study Session 12 (PDF)40-43
Alternative Investments5-15Study Session 13 (PDF)44-47
Fixed Income5-15Study Session 14 (PDF)48-50
Study Session 15 (PDF)51-53
Derivatives5-15Study Session 16 (PDF)54-55
Study Session 17 (PDF)56-59
Portfolio Management5-15Study Session 18 (PDF)60-64