The CFA Level 1 syllabus has ten topic areas, with Ethics and the analytical core (quant, economics, financial reporting) carrying the most weight.
CFA Level I spans ten topic areas. This is a plain-English summary; topic weights are set by CFA Institute and can change, so confirm the current weightings with the official curriculum.
| Topic | Note |
|---|---|
| Ethical and Professional Standards | Heavily weighted; decisive at the margin |
| Quantitative Methods | The analytical toolkit |
| Economics | Micro and macro fundamentals |
| Financial Statement Analysis | Reading and adjusting statements |
| Corporate Issuers | Capital structure and governance |
| Equity Investments | Markets and equity valuation |
| Fixed Income | Bond pricing, yields and risk |
| Derivatives | Forwards, futures, options, swaps |
| Alternative Investments | Real estate, PE, hedge funds, commodities |
| Portfolio Management | Risk, return and diversification |
How the topics group
The analytical core (Quantitative Methods, Economics, Financial Statement Analysis) underpins everything. The asset classes (Equity, Fixed Income, Derivatives, Alternatives) build on it. Ethics and Portfolio Management frame the professional context. Confirm current weights with CFA Institute, as they are reviewed regularly.