CFA Level 2 Topic Weights (vs. Previous Year)
| Topics / Weight | 2018 | 2019 | 2020 | 2021 |
|---|---|---|---|---|
| Ethics | 10-15% | 10-15% | 10-15% | 10-15% |
| Quant Methods | 5-10% | 5-10% | 5-10% | 5-10% |
| Economics | 5-10% | 5-10% | 5-10% | 5-10% |
| FRA | 15-20% | 10-15% | 10-15% | 10-15% |
| Corp Fin | 5-15% | 5-10% | 5-10% | 5-10% |
| Equity | 15-25% | 10-15% | 10-15% | 10-15% |
| Fixed Income | 10-20% | 10-15% | 10-15% | 10-15% |
| Derivatives | 5-15% | 5-10% | 5-10% | 5-10% |
| Alt. Investments | 5-10% | 5-10% | 5-10% | 5-10% |
| Portfolio Mgmt. | 5-10% | 5-15% | 5-15% | 10-15% |
CFA Level 2 Curriculum Changes
In short, Level 2’s curriculum experienced a relatively small update this year.
There are 47 readings in 2022’s Level 2 Curriculum (vs. 48 in 2020/2021):
- 3 readings from 2020/2021 were removed:
- Reading 9 – Excerpt from Probabilistic Approaches
- Reading 22 – Corporate Governance & Other ESG Considerations in Investment Analysis
- Reading 40 – Publicly Traded Real Estate Securities
- 2 new readings were added:
- Reading 17 – Environmental, Social, and Governance (ESG) Considerations in Investment Analysis
- Reading 41 – Backtesting and Simulation
- 13 readings were updated, mostly minor changes, except R33 Pricing & Valuation of Forward Commitments (Derivatives) and R35 Real Estate Investments – the latter due to merging of 2 readings into one.
(source: 300 hours)