A final-revision summary for CFA Level I. Study aid only — no notes in the proctored exam (an approved calculator is permitted).
The ten topics
Ethics · Quantitative Methods · Economics · Financial Statement Analysis · Corporate Issuers · Equity · Fixed Income · Derivatives · Alternative Investments · Portfolio Management.
Core formulas to know
| Concept | Idea |
|---|---|
| Future value | FV = PV × (1 + r)ⁿ |
| Present value | PV = FV ÷ (1 + r)ⁿ |
| NPV | Sum of discounted cash flows minus initial outlay |
| Current ratio | Current assets ÷ current liabilities |
| ROE | Net income ÷ shareholders’ equity |
| Bond price | Present value of coupons + principal |
The Code and Standards (ethics)
Seven Standards of Professional Conduct: Professionalism; Integrity of Capital Markets; Duties to Clients; Duties to Employers; Investment Analysis and Recommendations; Conflicts of Interest; Responsibilities as a CFA Member/Candidate.
Exam-day reminders
Two sessions of multiple-choice questions · master the approved calculator · ethics can decide a borderline result · manage time per item.