CFA Level 2

2022 CFA Curriculum Changes: Our Super Summary 4

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)

CFA Level 2 Resource 2020

CFA Level 2 Schweser Notes 2020 book 1 -5 & QuickSheet

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