Study guide

CFA Level II study guide

Read a lesson, then practice the ideas you want to remember.

Lessons

  1. Commodities and Commodity Derivatives: Secto
  2. Hedge Fund Strategies: Classification, Imple
  3. Real Estate Investment Features, Due Diligen
  4. Private Real Estate Investments: Direct Capi
  5. Public Real Estate Investments: REIT Structu
  6. Corporate Governance, Board Oversight & ESG
  7. Cost of Capital: Advanced Topics — Free CFA Level 2 Guide 2026
  8. Analysis of Dividends: Policy Theories, Sign
  9. Corporate Restructuring: Types, Motivations,
  10. Restructuring Financial Effects: EPS, Net De
  11. Share Repurchases: Methods, EPS and Book Val
  12. The Black-Scholes-Merton Model, Option Greek
  13. Contingent Claims: Binomial Option Pricing M
  14. Pricing and Valuation of Forward Commitments
  15. Interest Rate Options, Swaptions & the Black
  16. Swap Pricing and Valuation: Interest Rate, C
  17. Economic Growth Theories & Production Functi
  18. Forward Points, the Carry Trade & Policy Eff
  19. Foreign Exchange Parity Relations & Equilibr
  20. Growth Determinants: Natural Resources, Demo
  21. Discounted Dividend Valuation: Gordon Growth
  22. Equity Valuation Framework & Required Rate o
  23. Free Cash Flow Valuation: FCFF and FCFE Mode
  24. Market-Based Valuation: Price and Enterprise
  25. Choosing and Combining Models: Definitions o
  26. Private Company Valuation: Income, Market &
  27. Residual Income Valuation — Free CFA Level 2 Guide 2026
  28. Application of the Code and Standards: Level
  29. Code of Ethics & The Seven Standards of Prof
  30. Recommended Procedures: Compliance Programs,
  31. Duties to Clients & Duties to Employers
  32. Standard V: Investment Analysis, Recommendat
  33. Vignette Analysis: Conflicts of Interest & D
  34. Evaluating the Quality of Financial Reports
  35. Employee Compensation: Defined Benefit Pensi
  36. Analysis of Financial Institutions & The CAM
  37. Integration of Financial Statement Analysis
  38. Intercorporate Investments: Equity Method &
  39. Multinational Operations: Current Rate vs Te
  40. The Arbitrage-Free Valuation Framework & Bin
  41. Credit Analysis Models: Structural vs Reduce
  42. Credit Default Swaps: Mechanics, Pricing & T
  43. Valuation and Analysis of Bonds with Embedde
  44. The Term Structure and Interest Rate Dynamic
  45. Managing Yield-Curve Risk: Key Rate Duration
  46. 2026 Curriculum Structure & 10 Topic Weight
  47. CFA Level II Exam Overview & Item-Set Vignet
  48. 300-Hour Study Plan, Calculator Mastery & Pr
  49. Analysis of Active Portfolio Management & Th
  50. Economics & Investment Markets: Business Cyc
  51. Backtesting and Simulation: Procedures, Metr
  52. Exchange-Traded Funds: Creation, Arbitrage,
  53. Measuring and Managing Market Risk: VaR, CVa
  54. Using Multifactor Models: Macroeconomic, Fun
  55. Big Data Projects: Wrangling, Exploration, F
  56. Extensions of Multiple Regression: Influence
  57. Machine Learning, Deep Learning & Big Data P
  58. Multiple Linear Regression, ANOVA & Hypothes
  59. Regression Diagnostics: Multicollinearity, H
  60. Time-Series Analysis: AR Models, Nonstationa