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Level II Topic Outlines

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The curriculum is organized into topics, and each topic contains learning modules. There are learning outcome statements at the beginning of each learning module.

Below you'll find current outlines by level. Each outline includes learning outcome statements (LOS) and source references for the readings.

2023 Level II Exam Topic Outlines

2022 Level II Exam Topics and Study Session Outlines

2022 Level II Study Sessions combined

Topic Exam Weight Sessions
Quantitative Methods 5–10%

Study Session 1

Study Session 2

Economics 5–10% Study Session 3
Financial Reporting and Analysis 10–15% Study Session 4
Study Session 5
Corporate Issuers
5–10% Study Session 6
Study Session 7
Equity Valuation 10–15% Study Session 8
Study Session 9
Study Session 10
Fixed Income 10–15% Study Session 11
Study Session 12
Derivatives 5–10% Study Session 13
Alternative Investments
5–10% Study Session 14

Portfolio Management 10–15% Study Session 15
Study Session 16
Ethical and Professional Standards 10–15% Study Session 17
Readings 45-47