Study guide
CFA Level I study guide
Read a lesson, then practice the ideas you want to remember.
Lessons
- Eligibility, Registration, Passport, and PSM
- Exam Format, Fees, Windows, and Results
- Official Source Control and 2026 Curriculum
- Three-Hundred-Hour Study Plan — Free Study Guide 2026
- Topic Weights and Session Map — Free Study Guide 2026
- What Level I Tests and Why It Matters — Free Study Guide 2026
- Duties to Clients and Employers — Free Study Guide 2026
- Ethics Weight, Code, and Standards Map — Free Study Guide 2026
- GIPS, Performance Presentation, and Ethics C
- Investment Analysis, Recommendations, and Co
- Professionalism and Integrity of Capital Mar
- Responsibilities as a CFA Candidate and Memb
- Portfolio Mathematics and Safety-First — Free Study Guide 2026
- Probability, Conditional Expectations, and B
- Rates, Returns, and Time Value of Money
- Regression, Simulation, and Big Data — Free Study Guide 2026
- Sampling, Estimation, and Hypothesis Testing
- Statistics, Distributions, and Risk Measures
- Business Cycles and Economic Indicators
- Economics Case Lab — Free CFA Level I Study Guide Guide 2026
- Firm Market Structures and Breakeven Analysi
- Fiscal Policy, Monetary Policy, and Central
- Foreign Exchange, Capital Flows, and Arbitra
- Geopolitics, Globalization, and Trade — Free Study Guide 2026
- Balance Sheets, Assets, Liabilities, and Equ
- Cash Flow Statements and Free Cash Flow
- FSA Framework and Information Quality — Free Study Guide 2026
- Income Statements, Revenue, Expense, and EPS
- Inventories, Long-Lived Assets, and Taxes
- Reporting Quality, Ratios, DuPont, and Model
- Business Models and Corporate Case Lab — Free Study Guide 2026
- Capital Budgeting, NPV, IRR, and Real Option
- Capital Structure, WACC, and Modigliani-Mill
- Organizational Forms and Corporate Features
- Stakeholders, ESG, and Governance Conflicts
- Working Capital, Liquidity, and Cash Convers
- Company Analysis and Competitive Position
- Dividend Discount Models and Valuation Input
- Equity Securities and Industry Analysis
- Market Organization, Orders, and Trading
- Multiples, Private Company Valuation, and Eq
- Security Market Indexes and Efficiency — Free Study Guide 2026
- Bond Features, Issuance, and Cash Flow Struc
- Bond Valuation, Clean Price, and Accrued Int
- Credit Risk, Ratings, and Spreads — Free Study Guide 2026
- Duration, Convexity, and Interest Rate Risk
- Securitization and Fixed Income Case Lab
- Yield Measures, Spot Rates, and Forward Rate
- Arbitrage, Pricing, and No-Arbitrage Intuiti
- Derivative Markets, Forward Commitments, and
- Derivatives Case Lab — Free CFA Level I Study Guide Guide 2026
- Forwards, Futures, and Swap Basics — Free Study Guide 2026
- Hedging, Speculation, and Risk Management
- Option Payoffs, Moneyness, and Risk — Free Study Guide 2026
- Alternatives Case Lab — Free Study Guide 2026
- Alternatives Role, Characteristics, and Stru
- Hedge Funds, Strategies, Fees, and Risks
- Liquidity, Due Diligence, and Performance Me
- Private Capital, Venture, Buyout, and Privat
- Real Estate, Infrastructure, and Commodities
- Behavioral Finance and Client Decision Error
- Fintech, Data, and Portfolio Applications
- Portfolio Case Lab — Free CFA Level I Study Guide Guide 2026
- Portfolio Planning, Policy, and Construction
- Portfolio Return, Risk, and Diversification
- Risk Management and Investor Objectives
- Formula Sheet and Calculator Workflow — Free Study Guide 2026
- Mixed-Topic Case Lab — Free CFA Level I Study Guide Guide 2026
- Mock Exam Review and Error Log — Free Study Guide 2026
- Question Stem Reading and Answer Elimination
- Session One Integration: Ethics, Quant, Econ
- Session Two Integration: Equity, Fixed Incom
- Career Path, Charter Requirements, and Membe
- Exam Week Prometric and Passport Checklist
- Final Readiness Audit — Free Study Guide 2026
- If You Fail: Retake and Deferral Strategy
- If You Pass: Level II Path — Free Study Guide 2026
- Ninety-Day, Sixty-Day, and Thirty-Day Plan
- PSM Completion and Result Release — Free Study Guide 2026