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 AREALEVEL I (2019)LEVEL I (2020)LEVEL IILEVEL III
Ethics & Professional Standards15%15%10–15%10–15%
Quantitative Methods12% 2018
10% 2019
10% 
5–10%
 
0%
Economics10%10%5–10%5–10%
Financial Reporting & Analysis20% 2018
15% 2019
15% 
10–15%
 
0%
Corporate Finance7% 2018
10% 2019
10% 
5–10%
 
0%
Equity Investments10% 2018
11% 2019
11% 
10–15%
 
10–15%
Fixed Income10% 2018
11% 2019
11% 
10–15%
 
15–20%
Derivative Investments5% 2018
6% 2019
11% 
5–10%
 
5–10%
Alternative Investments4% 2018
6% 2019
6% 
5–10%
 
5–10%
Portfolio Management & Wealth Management7% 2018
6% 2019
6% 
5–15%
 
35-40%
TOTAL100%100%100%100%