Free CFA L1 Exam Prep

CFA Institute Code and Standards, professionalism, market integrity, client duties, employer duties, conflicts, candidate responsibilities, and performance presentation foundations.

Rates and returns, time value of money, statistics, probability, portfolio math, simulation, sampling, hypothesis testing, regression, and big data techniques.

Market structures, business cycles, fiscal and monetary policy, geopolitics, international trade, capital flows, foreign exchange, and exchange-rate calculations.

Financial statements, revenue and expense recognition, EPS, cash flows, inventories, long-lived assets, taxes, reporting quality, ratio analysis, DuPont, and modeling.

Business forms, stakeholders, governance, ESG factors, working capital, capital allocation, NPV, IRR, WACC, capital structure, and business models.

Market organization, security indexes, market efficiency, equity securities, industry and company analysis, DDM, multiples, and private company valuation basics.

Bond features, issuance, cash flows, yields, spot and forward rates, valuation, duration, convexity, credit analysis, and securitization.

Derivative markets, forwards, futures, swaps, options, payoffs, arbitrage, pricing intuition, hedging, speculation, and risk-management use cases.

Hedge funds, private capital, real estate, infrastructure, commodities, structures, fees, liquidity, due diligence, and diversification roles.

Return and risk, diversification, portfolio planning, construction, investor objectives, risk management, behavioral finance, and fintech applications.