CFA Free 101 Concepts (2024)

101 concepts level I

101 concepts level II

2021 Level I Corporate Finance Full Videos

2021 Level I Economics Full Videos

2021 Level I Ethics Full Videos

2021 Level I FRA Full Videos

2021 Level I Portfolio Management Full Videos

2021 Level I Quantitative Methods Full Videos

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All-Levels

Alternative Investments

Alternative Investments (AI)

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Corporate Issuers

Corporate Issuers (CI)

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Derivatives

Derivatives (DV)

Economics

Economics (EC)

Equity

Equity Investments (EI)

Ethical and Professional Standards (ES)

Ethics

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Financial Reporting and Analysis

Financial Statement Analysis (FSA)

Fixed Income

Fixed Income (FI)

Level I

Level II

Level III

LM01 Alternative Investment Features, Methods, and Structures.

LM01 Categories, Characteristics, and Compensation Structures of Alternative Investments

LM01 Corporate Structures and Ownership

LM01 Derivative Instrument and Derivative Market Features

LM01 Derivative Instrument and Derivative Market Features.

LM01 Ethics and Trust in the Investment Profession

LM01 Ethics and Trust in the Investment Profession.

LM01 Fixed-Income Instrument Features.

LM01 Fixed-Income Securities: Defining Elements

LM01 Introduction to Financial Statement Analysis

LM01 Introduction to Financial Statement Analysis.

LM01 Market Organization & Structure.

LM01 Market Organization and Structure

LM01 Organizational Forms, Corporate Issuer Features, and Ownership.

LM01 Portfolio Management Overview

LM01 Portfolio Management: An Overview.

LM01 Rates and Returns.

LM01 The Firm & Market Structures.

LM01 Topics in Demand and Supply Analysis

LM02 Alternative Investment Performance and Returns.

LM02 Analyzing Income Statements.

LM02 Code of Ethics and Standards of Professional Conduct Profession

LM02 Code of Ethics and Standards of Professional Conduct.

LM02 Financial Reporting Standards

LM02 Fixed Income Markets - Issuance Trading and Funding

LM02 Fixed-Income Cash Flows and Types.

LM02 Forward Commitment and Contingent Claim Features and Instruments

LM02 Forward Commitment and Contingent Claim Features and Instruments.

LM02 Introduction to Corporate Governance and Other ESG Considerations

LM02 Investors and Other Stakeholders.

LM02 Organizing, Visualizing, and Describing Data

LM02 Performance Calculation and Appraisal of Alternative Investments

LM02 Portfolio Risk & Return: Part I.

LM02 Portfolio Risk and Return Part I

LM02 Security Market Indexes

LM02 Security Market Indexes.

LM02 The Firm and Market Structures

LM02 Time Value of Money in Finance.

LM02 Understanding Business Cycles.

LM03 Aggregate Output, Prices and Economic Growth

LM03 Analyzing Balance Sheets.

LM03 Business Models & Risks

LM03 Corporate Governance: Conflicts, Mechanisms, Risks, and Benefits.

LM03 Derivative Benefits, Risks, and Issuer and Investor Uses

LM03 Derivative Benefits, Risks, and Issuer and Investor Uses.

LM03 Fiscal Policy.

LM03 Fixed-Income Issuance and Trading.

LM03 Guidance for Standards I-VII

LM03 Guidance for Standards I–VII.

LM03 Introduction to Fixed Income Valuation

LM03 Investments in Private Capital: Equity and Debt.

LM03 Market Efficiency

LM03 Market Efficiency.

LM03 Portfolio Risk & Return: Part II.

LM03 Portfolio Risk and Return Part II

LM03 Private Capital, Real Estate, Infrastructure, Natural Resources, and Hedge Funds

LM03 Probability Concepts

LM03 Statistical Measures of Asset Returns.

LM03 Understanding Income Statements

LM04 An Introduction to Asset-Backed Securities

LM04 Analyzing Statements of Cash Flows I.

LM04 Arbitrage, Replication, and the Cost of Carry in Pricing Derivatives

LM04 Arbitrage, Replication, and the Cost of Carry in Pricing Derivatives.

LM04 Basics of Portfolio Planning & Construction

LM04 Basics of Portfolio Planning and Construction.

LM04 Capital Investments

LM04 Common Probability Distributions

LM04 Fixed-Income Markets for Corporate Issuers.

LM04 Introduction to the Global Investment Performance Standards (GIPS)

LM04 Introduction to the Global Investment Performance Standards (GIPS).

LM04 Monetary Policy.

LM04 Overview of Equity Securities

LM04 Overview of Equity Securities.

LM04 Probability Trees and Conditional Expectations.

LM04 Real Estate and Infrastructure.

LM04 Understanding Balance Sheets

LM04 Understanding Business Cycles

LM04 Working Capital and Liquidity.

LM05 Analyzing Statements of Cash Flows II.

LM05 Capital Investments and Capital Allocation.

LM05 Company Analysis: Past and Present.

LM05 Fixed-Income Markets for Government Issuers.

LM05 Introduction to Geopolitics.

LM05 Introduction to Industry and Company Analysis

LM05 Monetary and Fiscal Policy

LM05 Natural Resources.

LM05 Portfolio Mathematics.

LM05 Pricing and Valuation of Forward Contracts and for an Underlying with Varying Maturities

LM05 Pricing and Valuation of Forward Contracts.

LM05 Sampling and Estimation

LM05 The Behavioral Biases of Individuals

LM05 The Behavioral Biases of Individuals.

LM05 Understanding Cash Flow Statements

LM05 Understanding Fixed-Income Risk and Return

LM05 Working Capital & Liquidity

LM06 Analysis of Inventories.

LM06 Capital Structure.

LM06 Cost of Capital-Foundational Topics

LM06 Equity Valuation: Concepts and Basic Tools

LM06 Financial Analysis Techniques

LM06 Fixed-Income Bond Valuation: Prices and Yields.

LM06 Fundamentals of Credit Analysis

LM06 Hedge Funds.

LM06 Hypothesis Testing

LM06 Industry and Competitive Analysis.

LM06 International Trade.

LM06 Introduction to Geopolitics

LM06 Introduction to Risk Management

LM06 Introduction to Risk Management.

LM06 Pricing and Valuation of Futures Contracts

LM06 Pricing and Valuation of Futures Contracts.

LM06 Simulation Methods.

LM07 Analysis of Long-Term Assets.

LM07 Business Models.

LM07 Capital Flows and the FX Market.

LM07 Capital Structure

LM07 Company Analysis: Forecasting.

LM07 Estimation and Inference.

LM07 International Trade and Capital Flows

LM07 Introduction to Digital Assets.

LM07 Introduction to Linear Regression

LM07 Inventories

LM07 Pricing and Valuation of Interest Rate and Other Swaps.

LM07 Pricing and Valuation of Interest Rates and Other Swaps

LM07 Technical Analysis

LM07 Yield and Yield Spread Measures for Fixed-Rate Bonds.

LM08 Currency Exchange Rates

LM08 Equity Valuation: Concepts and Basic Tools.

LM08 Exchange Rate Calculations.

LM08 Fintech in Investment Management

LM08 Hypothesis Testing.

LM08 Long Lived Assets

LM08 Measures of Leverage

LM08 Pricing and Valuation of Options

LM08 Pricing and Valuation of Options.

LM08 Topics in Long-Term Liabilities and Equity.

LM08 Yield and Yield Spread Measures for Floating-Rate Instruments.

LM09 Analysis of Income Taxes.

LM09 Income Taxes

LM09 Option Replication Using Put-Call Parity

LM09 Option Replication Using Put–Call Parity.

LM09 Parametric and Non-Parametric Tests of Independence.

LM09 The Term Structure of Interest Rates: Spot, Par, and Forward Curves.

LM10 Financial Reporting Quality.

LM10 Interest Rate Risk and Return.

LM10 Non-current (Long-Term) Liabilities

LM10 Simple Linear Regression.

LM10 Valuing a Derivative Using a One-Period Binomial Model

LM10 Valuing a Derivative Using a One-Period Binomial Model.

LM11 Financial Analysis Techniques.

LM11 Financial Reporting Quality

LM11 Introduction to Big Data Techniques.

LM11 Yield-Based Bond Duration Measures and Properties.

LM12 Applications of Financial Statement Analysis

LM12 Introduction to Financial Statement Modeling.

LM12 Yield-Based Bond Convexity and Portfolio Properties.

LM13 Curve-Based and Empirical Fixed-Income Risk Measures.

LM14 Credit Risk.

LM15 Credit Analysis for Government Issuers.

LM16 Credit Analysis for Corporate Issuers.

LM17 Fixed-Income Securitization.

LM18 Asset-Backed Security (ABS) Instrument and Market Features.

LM19 Mortgage-Backed Security (MBS) Instrument and Market Features.

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Portfolio Management

Portfolio Management (PM)

Quantitative Methods

Quantitative Methods (QM)

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CFA Free 101 Concepts (2024)

FAQs

Is 60% enough to pass CFA? ›

Passing Scores

Candidates must get a minimum passing score (MPS) of 70% on the multiple-choice questions on the CFA Level I exam, a minimum score of 65% to 70% on the multiple-choice questions on the CFA Level II exam, and a minimum passing score (MPS) of 60% on the multiple-choice questions on the CFA Level III exam.

Can you pass CFA 1 by guessing? ›

If you can be 100% sure of the answers to half of the questions, and correctly guess at a 50% rate for the other half, you've just passed the exam!

How many questions do you need to get right to pass the CFA? ›

The exam is composed of 90 questions in the first session and 90 questions in the second session. To pass this exam, aim for correctly answering at least 75% of the questions. That means you need to correctly answer at least 180(0.75) = 135 questions total, or about 68 questions in each session.

What is the hardest topic in CFA? ›

Generally, our research shows that candidates' CFA Level 1 hardest topics are Financial Statement Analysis, Fixed Income, Quantitative Methods, Derivatives and Economics. Meanwhile, CFA Level 2 most difficult topics are typically Financial Statement Analysis, Portfolio Management, Ethics and Derivatives.

Can you pass CFA with 50%? ›

To pass CFA Level I, you probably need to target 70% in as many topics as possible... In other words, you don't have to get more than 70% in everything to pass. Some say you can get as low as 65%, or even 63%. You don't even need to get more than 51% in everything to pass.

Can I pass CFA Level 1 with 65%? ›

CFA Level 1 Passing Score

Some years test takers will receive a 65% overall score and fail, while in other years candidates have received a 62% score and passed.

What is the average IQ to pass the CFA exam? ›

A survey carried out using a sample of 50 CFA Level I candidates reveals an average IQ of 105. Assuming that IQs are distributed normally, carry out a statistical test to determine whether the mean IQ is greater than 100.

Why do so many people fail CFA Level 1? ›

Some candidates consider themselves to be fairly ethical people and so think that the answers on the exam will be intuitive. They neglect the topic and end up failing on the exam. Other candidates read the material, to the point of memorizing the Code and Standards, but neglect to do practice problems.

How many people pass CFA Level 1 first try? ›

Here's what you should know about pass rates on the CFA: Average pass rates tend to fluctuate. Level 1 pass rates have hovered around 37% Level 2 pass rates have been around 45%

Is passing CFA a big deal? ›

There also may be financial benefits. You may see your salary increase after you've become a CFA or you may surpass other applicants who don't have this designation when competing for a new job.

Are CFA mocks harder than exams? ›

Are CFA Practice Questions Harder than the Actual CFA Exam? CFA practice questions are designed to be similar to the actual exam questions at every level. If candidates are experiencing difficulty with practice questions this usually means that candidate is not fully prepared or their nerves got the best of them.

How many times can I fail CFA? ›

How many times can you retake the CFA? Candidates have six maximum attempts to pass each level of the CFA exam, and each level can be attempted only twice per year (at least six months apart).

Which CFA topic is easiest? ›

Easiest Level 1 CFA Exam Topics
Level 1 CFA Exam TopicShort DescriptionNo. of Formulas
Portfolio ManagementPortfolio: structure, risks & returnsaround 30
Corporate Issuers*Corporate governance & decision-makingaround 30
EquityMarket, industry & company analysisaround 40
Feb 28, 2024

Does CFA have a lot of math? ›

You won't pass your CFA exam unless you're fluent at least in basic mathematics. Also, calculator literacy is a must! Otherwise, you may fail your CFA exam because you won't have enough time to do your test. Though it may sound surprising, many CFA candidates struggle with maths.

Which level of CFA is most difficult? ›

Many CFA charterholders consider the Level 3 CFA Exam the most difficult because of the time and thought needed to answer the constructed responses successfully. While the typical Level 3 CFA Exam pass rates are the highest of the CFA Exams, only around 56% of CFA candidates pass the exam.

What is the pass rate for CFA? ›

Exam Pass Rates by Level

From 2012 to 2022, pass rates for the level 1 exam have averaged 41%. Since 2020, the average has been hovering around 37%.

Is 6 months enough to pass CFA Level 1? ›

For the majority of candidates, we recommend a 6-month study plan.

What is a good CFA score? ›

It is also scoring greater than 60 in each individual event, as this is estimated to be passing per event. Anything below is considered “at-risk”. Shooting for a minimum of 80 points and above per event is your best bet, but keep in mind that if you only hit 80 points per event you would only score a 480.

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