2019 Curriculum Changes for the Level I, II, and III CFA® Program Exams

Writing the CFA Program exam in 2019? Understanding the curriculum is critical to success, particularly if you are re-taking the exam, as you’ll want to optimize your study time and ensure you pay particular attention to new or amended study sessions: there is 1 new reading for the Level I, 5 at Level II and 6 at Level III. For 2019, the CFA Program Exam Curriculum has also added a hot industry topic, Fintech, including big data, data analysis and artificial intelligence. Plus, be sure to note the substantially modified 2019 CFA topic weightings:

TOPIC AREA LEVEL I LEVEL II LEVEL III
Ethics & Professional Standards 15% 10-15% 10-15%
Quantitative Methods 12% 2018
10% 2019
5-10% 0
Economics 10% 5-10% 5-10%
Financial Reporting & Analysis 20% 2018
15% 2019
15-20% 2018
10-15% 2019
0
Corporate Finance 7% 2018
10% 2019
5-15% 2018
5-10% 2019
0
Equity Investments 10% 2018
11% 2019
15-25% 2018
10-15% 2019
5-15% 2018
10-15% 2019
Fixed Income 10% 2018
11% 2019
10-20% 2018
10-15% 2019
10-20% 2018
15-20% 2019
Derivative Investments 5% 2018
6% 2019
5-15% 2018
5-10% 2019
5-15% 2018
5-10% 2019
Alternative Investments 4% 2018
6% 2019
5-10% 5-15% 2018
5-10% 2019
Portfolio Management & Wealth Management 7% 2018
6% 2019
5-10% 2018
5-15% 2019
40-55% 2018
35-40% 2019
TOTAL 100% 100% 100%

To help, Wiley has put together a handy cheat sheet of the 2019 CFA curriculum changes for Level I, II, and III.

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