Use this page to scan the full Level 2 syllabus, jump to any module, and understand where the deeper application work sits.
Overview
Eligibility, exam structure, topic weights, and prep priorities for Level II.
Syllabus
Module-by-module chapter list for the Level II curriculum.
Study Plan
A vignette-focused weekly roadmap built for Level II preparation.
Dates & Deadlines
Exam windows, registration deadlines, and scheduling dates for CFA candidates.
Full coverage
CFA Level II shifts from foundation-building to application and analysis. The syllabus is built around item sets, so each module should be studied with valuation, exhibit interpretation, and decision-making in mind.
Modules
10
Best use
Item-set mapping
Next step
Study plan
Quick navigation
Suggested workflow
Level 2 overview
Go back to the main Level 2 page for eligibility, exam structure, and prep priorities.
Study plan
Use the study plan page to convert this syllabus into a vignette-focused preparation roadmap.
Dates and deadlines
Check exam windows and time your syllabus coverage against your target attempt.
Ethics remains a high-value scoring area at Level II, where professional judgement is tested inside more subtle item-set scenarios.
Chapter list
Quant at Level II moves deeper into model interpretation, regression diagnostics, time-series analysis, machine learning, and big data applications.
Chapter list
Economics focuses on currency valuation, exchange-rate equilibrium, and growth concepts that support valuation and portfolio decisions.
Chapter list
FSA is one of the most application-heavy Level II areas, covering reporting quality, intercorporate investments, pensions, and multinational operations.
Chapter list
Corporate Issuers connects financing, payout, ESG, capital costs, and restructuring decisions to valuation and investor outcomes.
Chapter list
Equity Investments is valuation-focused, with applications across dividend discount, free cash flow, market multiples, residual income, and private companies.
Chapter list
Fixed Income builds deeper bond analysis through term structure, arbitrage-free valuation, embedded options, credit models, and credit default swaps.
Chapter list
Derivatives focuses on pricing and valuation of forward commitments and contingent claims in valuation and risk-management settings.
Chapter list
Alternative Investments covers commodities, real estate structures, publicly traded real estate securities, and hedge fund strategies.
Chapter list
Portfolio Management integrates active management, ETFs, multifactor models, market risk, backtesting, simulation, and wealth planning logic.
Chapter list