CFA 2024 Syllabus: Levels 1,2 & 3, Subjects


CFA 2024 Syllabus: prescribed by the CFA Institute for all three exam levels, covers topics essential for developing investment analysis and portfolio management skills. It includes chapters on finance and related subjects like Economics, Financial Statement Analysis, Equity Investments, Derivatives, Alternative Investments, Portfolio Management, and Wealth Planning. The syllabus adapts modern financial practices to the changing economic environment, with differences in difficulty and weightage across levels. To become a charter holder, a CFA student must pass all three levels of the exam and gain necessary work experience.

Here are some key points about the CFA course:

  • CFA isn’t a fixed semester course. It’s designed to certify professionals in financial analysis.
  • Passing all three levels of the CFA exam can get you certified in about 1.5 years.
  • The CFA syllabus focuses on teaching advanced investment analysis and portfolio management.
  • In India, the demand for financial planning skills is growing, making CFA professionals highly sought after.
  • The CFA course has three levels. You need to pass each level to move on to the next.
  • To enroll in the CFA course, you need a bachelor’s degree or relevant work experience.

Core Subjects in CFA Syllabus

CFA SubjectCFA Subject Details
Ethical and Professional StandardsFinancial ethics, challenges to ethical behavior, importance of professionalism, and sticking to ethics in the investment industry.
Quantitative MethodsQuantitative techniques for investment decision-making, financial analysis, probability theory, risk quantification, and characteristics of return distributions.
EconomicsConcepts of demand and supply, market structures, macroeconomic principles, aggregate output, aggregate demand, business cycles, and their economic effects.
Financial Statement AnalysisStandards and procedures of financial reporting, examination of financial statements, effects of alternative accounting methods, and emphasis on analysis.
Corporate IssuersFinance and investment decisions within corporate governance, overview of corporate governance, impact of social and environmental considerations, leverage, and managing working capital.
Equity InvestmentsBasic equity models, equity securities, industry and company analysis, characteristics of equity investments, security markets, and indexes.
Fixed IncomeFixed-income securities, yield measures, risk factors, valuation measurements, calculating yields and values, credit analysis, bond risks and returns, and securitization of assets.
DerivativesDerivative markets, basic derivatives, valuation concepts, forward commitments, arbitrage, and understanding the link between derivative pricing and underlying asset price.
Alternative InvestmentsVarious investment topics such as hedge funds, real estate, infrastructure, debentures, commodities, and more.
Portfolio Management and Wealth PlanningFundamentals of risk and portfolio management, risk and return measurement, creating and managing portfolios, and available investment solutions for institutional and individual investors.

Comprehensive CFA Curriculum

CFA Course LevelCFA SubjectWeightage in CFA ExamCFA Level I Syllabus
Ethical and Professional Standards15-20%
Level IQuantitative Methods8-12%
Financial Statement Analysis12-17%
Corporate Issuers8-12%
Equity Investments10-12%
Fixed Income10-12%
Alternative Investments5-8%
Portfolio Management and Wealth Planning5-8%
Ethical and Professional Standards10-15%
Level IIQuantitative Methods5-10%
Financial Statement Analysis10-15%
Corporate Issuers5-10%
Equity Investments10-15%
Fixed Income10-15%
Alternative Investments5-10%
Portfolio Management and Wealth Planning10-15%
Ethical and Professional Standards10-15%
Level IIIEconomics5-10%
Equity Investments10-15%
Fixed Income15-20%
Alternative Investments5-10%
Portfolio Management and Wealth Planning35-40%

CFA Study Resources: Books and Materials

CFA Institute provides books and study materials for each level of the course. Upon registering for the CFA program, candidates immediately receive access to various study tools and resources. These resources include:


  • Official program curriculum
  • Personalized study plans tailored to individual needs
  • Study sessions designed for each level
  • Practice questions integrated throughout the curriculum
  • Additional study resources and tips
  • Mock exams replicating the exam-day experience

Furthermore, CFA Institute facilitates access to its learning ecosystem and community, aiming to support students. In their journey towards becoming CFA charter holders.


What does a CFA do?

CFA charter holder typically works in roles related to investment banking, portfolio management, asset and wealth management, research, consulting, risk analysis, and management.

How challenging is the CFA exam?

The difficulty of the CFA exam varies based on individual preparation and understanding of finance. With dedication, a solid study plan, access to study materials, mock tests, and practice questions, success is attainable for those with a strong grasp of finance concepts.

What is the CFA certification?

The CFA certification, or Chartered Financial Analyst, is highly regarded in the finance industry. It consists of three levels of examinations assessing candidates’ knowledge of investment tools, asset valuation, portfolio management, and wealth planning

What subjects are covered in the CFA Syllabus 2024?

The CFA Syllabus 2024 covers topics related to investment, finance, and accounting.


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