2020 Curriculum Changes for the Level I, II, and III CFA® Program Exams
Are you taking the CFA Program exam in 2020? 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. Be sure to note the substantially modified 2020 CFA topic weightings. To help, Wiley has put together a handy cheat sheet of the 2020 CFA curriculum changes for Level I, II, and III.
| TOPIC AREA | LEVEL I (2019) | LEVEL I (2020) | LEVEL II | LEVEL III |
|---|---|---|---|---|
| Ethics & Professional Standards | 15% | 15% | 10–15% | 10–15% |
| Quantitative Methods | 12% 2018 10% 2019 |
10% | 5–10% |
0% |
| Economics | 10% | 10% | 5–10% | 5–10% |
| Financial Reporting & Analysis | 20% 2018 15% 2019 |
15% | 10–15% |
0% |
| Corporate Finance | 7% 2018 10% 2019 |
10% | 5–10% |
0% |
| Equity Investments | 10% 2018 11% 2019 |
11% | 10–15% |
10–15% |
| Fixed Income | 10% 2018 11% 2019 |
11% | 10–15% |
15–20% |
| Derivative Investments | 5% 2018 6% 2019 |
11% | 5–10% |
5–10% |
| Alternative Investments | 4% 2018 6% 2019 |
6% | 5–10% |
5–10% |
| Portfolio Management & Wealth Management | 7% 2018 6% 2019 |
6% | 5–15% |
35-40% |
| TOTAL | 100% | 100% | 100% | 100% |
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