Each year CFA Institute makes changes to the exam curriculum. This year there have been many updates throughout the Level I curriculum. There are 60 readings in the 2022 Level I curriculum versus 57 in 2021.
For details on what has been added, removed, or changed for Level I please see the chart here: Level I 2021-2022 Program Changes To learn more about the 2022 Level I exam and make your study strategy, watch our advice videos. If you have any comments or questions please visit the IFT Help Desk. Best Regards, Team IFT ISBN: 978-1-950-15760-0 June 2021 Editions Previous Next Download Product Flyer Download Product FlyerDownload Product Flyer is to download PDF in new tab. This is a dummy description. Download Product Flyer is to download PDF in new tab. This is a dummy description. Download Product Flyer is to download PDF in new tab. This is a dummy description. Download Product Flyer is to download PDF in new tab. This is a dummy description. DescriptionPrepare for success on the 2022 CFA Level I exam with the latest official CFA® Program Curriculum. The 2022 CFA Program Curriculum Level I Box Set contains all the material you need to succeed on the Level I CFA exam in 2022. This set includes the full official curriculum for Level I and is part of the larger CFA Candidate Body of Knowledge (CBOK). Highly visual and intuitively organized, this box set allows you to:
The set also includes practice questions to assist with your recall of key terms, concepts, and formulas. Perfect for anyone preparing for the 2022 Level I CFA exam, the 2022 CFA Program Curriculum Level I Box Set is a must-have resource for those seeking the foundational skills required to become a Chartered Financial Analyst®. About the AuthorCFA Institute is a global association of investment professionals. The organization offers the Chartered Financial Analyst (CFA) designation, the Certificate in Investment Performance Measurement (CIPM) designation, and the Claritas Investment Certificate. It provides continuing education conferences, seminars, webcasts, and publications to allow members and other participants to stay current on developments in the investment industry. In order to stay up to date with current topics and challenges professionals in the investment management industry face, CFA Institute updates the material covered in the CFA exam annually. The CFA curriculum for 2022 was updated from 2021, which is represented in the CFA Institute's learning outcome statements (LOS). Knowing what information has changed and if topic weights have been adjusted is important to understand because you don’t want your CFA prep materials to be outdated. This is especially true if you’re wondering what to do after failing a previous year’s CFA exam. TABLE OF CONTENTS:
2022 CFA Curriculum and Weight ChangesAll three levels of the CFA curriculum received updates in 2022. The most notable changes were:
Below we will break down the CFA curriculum changes in detail for each level of the CFA Exam. Level I CFA Curriculum and Weight ChangesThe CFA Level I curriculum received major updates in 2022 but topic area weight ranges in 2022 did not change from 2021. Below we break down CFA curriculum changes for Level I by each topic. Quantitative MethodsThe Quantitative Methods topic area was rewritten substantially. Two readings were new for 2022: “Organizing, Visualizing, and Describing Data” and “Introduction to Linear Regression.” The readings “Probability Concepts,” “Common Probability Distributions,” “Sampling and Estimation,” and “Hypothesis Testing” underwent material revisions. EconomicsIn the Economics topic area, the reading “Aggregate Output, Prices, and Economic Growth” was revised, replacing the IS-LM model for deriving the aggregate demand curve with an explanation of wealth, interest rate, and exchange rate effects. A new LOS concerning credit cycles was added to the reading “Understanding Business Cycles.” Financial Statement AnalysisFinancial Reporting and Analysis was renamed as the Financial Statement Analysis topic. The reading “Non-Current (Long-Term) Liabilities” was updated to reflect changes in accounting standards for leases. Corporate IssuersCorporate Finance was renamed as the Corporate Issuers topic. New readings “Uses of Capital,” “Sources of Capital,” and “Cost of Capital—Foundational Topics” replaced the old readings “Capital Budgeting,” “Working Capital Management,” and “Cost of Capital.” New reading “Capital Structure” added material to Level I that had previously been covered at Level II. Fixed IncomeThe Fixed Income topic area was updated to reflect the phase-out of LIBOR as a reference rate. One new LOS was added to each of the readings “Introduction to Asset-Backed Securities” and “Understanding Fixed-Income Risk and Return.” Alternative InvestmentsThe single reading in the Alternative Investments topic area was rewritten virtually end-to-end, adding new material on investing methods, fee structures, and performance appraisal, and removing much of the old material about the valuation of alternative investments. Portfolio Management and Wealth PlanningIn the Portfolio Management topic area, a new reading “The Behavioral Biases of Individuals” moved into Level I from Level III. The reading “Technical Analysis” was revised, adding material on approaches to asset allocation and removing old material on cycles, Elliott wave theory, and Fibonacci ratios. Ethical and Professional StandardsIn the Ethical and Professional Standards topic area, the reading “Introduction to the Global Investment Performance Standards” replaced two old readings and reflects the new 11th edition of GIPS. A new reading “Ethics Application” was added. Sign up for our question of the day and get a CFA question sent directly to your inbox every day to help you prepare for the next sitting.Level II CFA Curriculum and Weight ChangesThe CFA Level II curriculum received major updates in 2022 and topic area weight ranges have been adjusted in 2022. Below we break down CFA curriculum, reading, and weight changes for the 2022 CFA Level II Exam. 2022 Level II CFA Curriculum Changes Highlights
2022 Level II CFA Reading ChangesThere is an entirely new 2022 CFA Level II reading:
Four CFA Level II readings were substantially rewritten for 2022, which are being treated as new:
Numerous readings within the CFA Level II curriculum contain material changes for 2022:
Two CFA Level II readings were deleted:
Level III CFA Curriculum and Weight ChangesThe Level III CFA curriculum received major updates in 2022 but topic area weight ranges in 2022 did not change from 2021. Below we break down the major CFA curriculum changes for Level III of the CFA Exam. Ethical and Professional StandardsThe Ethical and Professional Standards topic moved to the end of the curriculum. Old reading Professionalism in Investment Management dropped from the curriculum. New case on Sovereign Investment Corp added to the reading Application of the Code and Standards: Level III. As part of ethics, the GIPS reading is substantially revised with the following items taken out: real estate, private equity, wrap fees, and separately managed accounts. Behavioral FinanceIn the Behavioral Finance topic, the reading The Behavioral Finance Perspective was dropped from the curriculum. Fixed IncomeAll Fixed Income topic readings have some changes with new Learning Outcome Statements added, other LOS deleted, and revisions to the readings. Substantial changes are in the last 2 fixed income readings; Yield Curve Strategies and Fixed-Income Active Management: Credit Strategies. Private Wealth ManagementIn the Private Wealth Management topic, new reading Topics in Private Wealth Management replaced three readings that were dropped; Taxes in Private Wealth Management in a Global Context, Estate Planning in a Global Context, and Concentrated Single Asset Positions. Portfolio Management and Risk ManagementThere is a new reading Integrated Cases in Risk Management: Institutional, which is a case study that was added to the Study Session Cases in the Portfolio Management and Risk Management topic. Before you choose your exam date, download this free Before You Decide to Sit for the CFA Exam eBook.What Is The CFA Program Candidate Body of Knowledge?The CFA Program Candidate Body of Knowledge (CBOK), is a document that represents the core competencies used by investment professionals. The CFA Institute released the 2022 Candidate Body of Knowledge, which contains the latest survey results from investment professionals around the world about what should be included in the CFA 2022 Program curriculum. CFA Candidate Body of Knowledge Topic Areas
What Is The Global Body Of Investment Knowledge?The Global Body of Investment Knowledge® is an all-inclusive document about the knowledge needed for the investment profession. The concepts contained in the GBIK are for CFA charterholders to use as a source of inspiration for new concepts and lifelong learning opportunities throughout their careers. The GBIK® is maintained by the CFA Education Advisory Committee, which is composed of individuals around the world from various backgrounds in the investment management industry. Who Makes Changes To The CFA Curriculum?The CFA Institute makes changes to the CFA curriculum through the practice analysis process and guidance from the CFA Institute Education Advisory Committee. What Is The Practice Analysis Process?The practice analysis process is a methodology for the CFA Institute to keep the CFA curriculum up to date with current skills and competencies for success in the investment management industry. The Practice Analysis Process contains multiple stages from which the Candidate Body of Knowledge ultimately gets updated. CFA Exam UpdatesThere are no major changes to how the CFA Exam will be administered in 2022, except that there is one less exam window in 2022 vs 2021. CFA Exam Dates » How To Prepare For CFA Curriculum ChangesThe most important way to prepare for curriculum changes is to keep your CFA prep materials up to date. If you do decide to use previous years’ materials, try to avoid outdated topics and trends and focus on what will be present on the exam. |