CFA Program Course of Study

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The CFA Program is organized into three levels and each level requires passing a six-hour exam. The program curriculum increases in complexity as you move through the three levels:

  • Level I: Focuses on a basic knowledge of the ten topic areas and simple analysis using investment tools
  • Level II: Emphasizes the application of investment tools and concepts with a focus on the valuation of all types of assets
  • Level III: Focuses on synthesizing all of the concepts and analytical methods in a variety of applications for effective portfolio management and wealth planning

Candidates report dedicating in excess of 300 hours of study per level to prepare for each exam.

Study Tools and Materials

The following resources are provided to registered candidates:

Mobile Study App
All study materials and tools are available using the CFA Program mobile study app:
For your Android device | For your Apple device

Study Support

Candidates should be able to succeed by studying the curriculum and LOS; however, some candidates may benefit from taking prep courses or using review notes. These should be used to supplement and not replace the CFA curriculum.