FinExPrep

Syllabus

CFA Level I Exam Prep Course

106 lessons. Online and self-paced.

Ethical and Professional Standards

Apply professional obligations to investment scenarios through 12 lessons that connect ethical reasoning, specific standards, preventive policies, and integrated practice.

  1. 1Ethical Reasoning and Professional Trust
  2. 2Code, Standards, and Conduct Enforcement
  3. 3Professionalism and Independent Judgment
  4. 4Market Integrity and Information Use
  5. 5Client Loyalty and Fair Dealing
  6. 6Client Suitability and Portfolio Mandates
  7. 7Client Confidentiality and Permitted Disclosure
  8. 8Fair Performance Presentation
  9. 9Employer Loyalty and Supervisory Responsibilities
  10. 10Research Diligence and Reasonable Basis
  11. 11Research Communication and Record Retention
  12. 12Conflicts, Transaction Priority, and Referrals
  13. 13Candidate Conduct and Credential References
  14. 14Integrated Ethics Cases and Controls

Quantitative Methods

Develop financial calculation and statistical reasoning through 12 lessons supporting valuation, empirical analysis, and portfolio decisions.

  1. 15Required Returns and Risk Premia
  2. 16Financial Return Measurement
  3. 17Performance Benchmarks and Index Weighting
  4. 18Discounting, Implied Returns, and Arbitrage
  5. 19Return Distribution Characteristics
  6. 20Probability Distributions and Bayesian Updating
  7. 21Sampling and Confidence Intervals
  8. 22Hypothesis Tests and Statistical Errors
  9. 23Portfolio Moments and Efficient Selection
  10. 24Historical, Bootstrap, and Monte Carlo Simulation
  11. 25Regression Estimates, Diagnostics, and Predictions
  12. 26Financial Data Science Applications

Economics

Connect firm behavior, economic policy, and international markets through eight lessons emphasizing investment implications.

  1. 27Production Decisions and Market Structures
  2. 28Business Cycles and Economic Indicators
  3. 29Fiscal Tools and Public Debt
  4. 30Monetary Transmission and Policy Interactions
  5. 31Geopolitical Risk and Global Institutions
  6. 32Trade Restrictions and Regional Integration
  7. 33Capital Flows and Currency Regimes
  8. 34Cross-Rates and Forward Exchange Rates

Financial Statement Analysis

Interpret financial reporting and assess company performance through 12 lessons covering statements, accounting adjustments, ratios, and forecasts.

  1. 35Reporting Frameworks and Analysis Sources
  2. 36Income Recognition and Earnings Measures
  3. 37Balance Sheet Assets and Obligations
  4. 38Cash Flow Statement Construction
  5. 39Cash Flow Quality and Coverage
  6. 40Inventory Valuation and Price Changes
  7. 41Long-Term Assets and Impairment
  8. 42Lease Accounting and Financial Analysis
  9. 43Share-Based Compensation Accounting
  10. 44Pension Plan Accounting
  11. 45Income Taxes and Deferred Balances
  12. 46Reporting Quality and Earnings Warning Signs
  13. 47Financial Ratios and DuPont Analysis
  14. 48Integrated Financial Statement Forecasting

Corporate Finance

Evaluate corporate organization, governance, liquidity, and financing decisions through seven lessons linking stakeholder interests to value creation.

  1. 49Business Forms and Ownership Structures
  2. 50Stakeholder Claims and ESG Considerations
  3. 51Agency Conflicts and Governance Mechanisms
  4. 52Working Capital and Liquidity Management
  5. 53Capital Budgeting and Allocation
  6. 54Capital Structure and Financing Costs
  7. 55Business Models and Financial Decisions

Equities

Analyze equity instruments and company value through 12 lessons integrating market structure, forecasting, valuation, and research judgment.

  1. 56Equity Instruments and Ownership Claims
  2. 57Share Classes and Voting Rights
  3. 58Equity Issuance, Trading, and Liquidity
  4. 59Dividends, Repurchases, and Shareholder Returns
  5. 60Industry Structure and Competitive Forces
  6. 61Company Strategy and Operating Drivers
  7. 62Equity Value and Valuation Frameworks
  8. 63CAPM and Equity Factor Models
  9. 64Discounted Cash Flows and Growth
  10. 65Relative Valuation and Peer Selection
  11. 66Equity Forecast Model Construction
  12. 67Equity Research Conclusions and Reports

Fixed Income

Evaluate bond structures, valuation, interest-rate exposure, creditworthiness, and securitized assets through 12 connected lessons.

  1. 68Bond Contracts and Cash-Flow Structures
  2. 69Corporate Debt Issuance and Trading
  3. 70Government Debt Markets
  4. 71Bond Prices and Required Yields
  5. 72Fixed and Floating Yield Measures
  6. 73Spot, Par, and Forward Curves
  7. 74Holding Horizons and Duration Measures
  8. 75Convexity and Portfolio Price Sensitivity
  9. 76Effective, Key-Rate, and Empirical Duration
  10. 77Credit Risk, Ratings, and Spreads
  11. 78Issuer Creditworthiness and Recovery
  12. 79Securitization Transaction Mechanics
  13. 80Asset-Backed Securities and Credit Enhancement
  14. 81Mortgage Securities and Prepayment Risk

Derivatives and Risk Management

Apply replication and no-arbitrage reasoning through eight lessons covering derivative instruments, valuation, and risk applications.

  1. 82Derivative Contracts and Market Organization
  2. 83Derivative Uses and Risk Exposures
  3. 84Replication, Arbitrage, and Carry Costs
  4. 85Forward and Futures Contract Valuation
  5. 86Swap Pricing and Contract Values
  6. 87Option Payoffs and Value Drivers
  7. 88Put–Call Parity and Synthetic Positions
  8. 89One-Period Binomial Derivative Valuation

Alternative Investments

Compare alternative asset structures, return measurement, and portfolio characteristics through seven lessons spanning private capital and real and digital assets.

  1. 90Alternative Investment Access and Structures
  2. 91Alternative Returns, Fees, and Appraisal
  3. 92Private Equity and Private Debt
  4. 93Real Estate and Infrastructure Investments
  5. 94Natural Resources and Commodity Exposure
  6. 95Hedge Fund Strategies and Vehicles
  7. 96Digital Assets and Investment Vehicles

Portfolio Construction

Integrate risk-return analysis, investor circumstances, behavioral insights, and risk governance through 10 lessons supporting disciplined portfolio decisions.

  1. 97Investor Preferences and Diversification
  2. 98Efficient Portfolios and Capital Allocation
  3. 99Market Risk and Required Returns
  4. 100Risk-Adjusted Portfolio Performance
  5. 101Investment Process and Investor Types
  6. 102Investment Policy Objectives and Constraints
  7. 103Portfolio Construction and Policy Alignment
  8. 104Cognitive Errors in Investment Decisions
  9. 105Emotional Biases and Investor Responses
  10. 106Risk Governance and Portfolio Risk Budgets
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