CFA Program Curriculum

Curriculum Errata

For the 2015 curriculum, as of 3 November: For the 2016 curricula, as of 6 November:

How to report errors you find in the curriculum.

The curriculum for each of the three levels is organized into 18 study sessions. Each study session contains

  • Assigned readings
  • Learning outcome statements (LOS)
  • Problem sets (to practice applying your knowledge)

All exam questions are based on the content in the corresponding curriculum for that level.

View current curriculum study session outlines, including Learning Outcome Statements (LOS), for each level.

Your Curriculum eBook

The CFA Program curriculum eBook is included in your registration fee. Your exam registration confirmation email will include the eBook code and instructions for accessing your eBook on the VitalSource website (VitalSource is our eBook provider).

Using your curriculum eBook you can

  • Access all your digital notes and highlighting across devices. You can also synchronize your changes between the web version of your eBook and your downloaded version.
  • Copy/paste curriculum text and export your notes to a text file.
  • Search either a single volume of the curriculum or the entire curriculum for your exam level.

Get more information about Bookshelf, the VitalSource eBook platform, including a current list of supported devices and browsers.

Accessing the eBook

Follow the instructions in your registration confirmation email to activate your eBook. As part of the process, you'll be prompted to create a VitalSource account. When you are logged into your VitalSource account as a registered candidate, you can access your curriculum eBook:

  • On the VitalSource website ( (VitalSource login required)), using a supported browser.
  • Through the CFA Program mobile study app offered by CFA Institute.
  • By using the VitalSource eBook app.

Get the VitalSource Bookshelf Quickstart Guide (PDF).

Note: The VitalSource eBook app does not sync with the eBook available through the CFA Program mobile study app (e.g., notes, highlights, etc. don’t carry over from the VitalSource app to the CFA Program study app).

Downloading your eBook

In addition to studying your eBook online, you can also use the VitalSource Bookshelf software to download the eBook on up to two computers and up to two mobile devices. Learn more and get the Bookshelf software from VitalSource.

Printing your eBook

The print feature was designed to print sections of the eBook, not the entire curriculum. However, curriculum eBooks can be printed via your laptop or desktop, up to a chapter at a time, from the VitalSource Bookshelf app online or from the VitalSource Bookshelf desktop app. Watch the video tutorials below (provided by VitalSource) for specific instructions.

Note: The "page" numbers as they appear in the eBook are actually section numbers and do not equate to page numbers for the purpose of printing.

For immediate answers to common technical support issues, please contact VitalSource. Candidates may also contact CFA Institute for customer service support.

Access the eBook After Your Exam

Your eBook provides digital access to the current year curriculum for the June and December exams. For example, if you have access to the Level I eBook for the June 2015 exam and you do not pass the June 2015 exam, you can use the same Level I eBook for the December 2015 exam.

Access to the web-based version of the eBook will remain active for five calendar years. For example, candidates who purchased the 2015 eBook as part of their registration will have access to it until December 2020.

eBooks are made available with a perpetual license so they remain available to you for future reference, but perpetual ongoing access refers only to the downloaded VitalSource eBooks and do not apply to the online access.

How to Submit Errata

If you think there is an error in the curriculum, please let us know. We investigate all submissions and include validated problems and corrections in the updated errata posted on the website.

Note: Page numbers in eBooks are not usually present or relevant, and location markers within eBooks are inconsistent across devices with different font and screen sizes. Please provide as much contextual information as you can.

To report an eBook curriculum error by email:

  • Copy a section of the text (ideally no smaller than a paragraph) into an email message and include:
    • The curriculum year, level, volume, and chapter number
    • The title of the reading, a section title and/or number (if available)
    • A description of the problem in the text
  • ​Send the email to

To report a curriculum error to us by phone, please have the following information available:

  • The curriculum year and level, volume, and chapter number
  • The title of the reading, a section title and/or number (if available)
  • Any other contextual information, such as whether an exhibit or example precedes or follows the text in question