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CFA Institute, USA

The CFA® Journey

Three levels. One Charter. The most respected designation in the global investment industry. At CapTech Academy, we guide you through every Learning Outcome Statement (LOS) with practitioner insight.

Level I

Master the foundations of finance. Focuses on investment tools, ethical standards, and a broad overview of asset classes.

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Level II

The "Art of Valuation". Dive deep into complex asset valuation models and rigorous financial statement analysis.

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Level III

Synthesis and Portfolio Management. Focuses on asset allocation, wealth planning, and specialized career pathways.

Detailed Curriculum →
Curriculum Updates

What's New in the Exam Cycle

CFA Institute revises the curriculum each year. These are the key additions, weight changes, and topic revisions candidates must know before they sit.

New
Sustainability & Climate Risk in Portfolios
New reading added under Portfolio Management. Introduces physical and transition climate risk as quantifiable portfolio factors, aligned with TCFD reporting standards. Candidates are now tested on ESG materiality at Level I.
Revised
Quantitative Methods — Machine Learning
Expanded ML section now covers supervised vs unsupervised learning, natural language processing for financial text, and AI-assisted investment screening. New LOS added; existing QM LOS restructured.
Revised
Fixed Income — Risk-Free Rate Transition
LIBOR references fully replaced with SOFR and equivalent overnight risk-free rates. Floating-rate bond pricing and duration calculations updated. Covered Bond mechanics added as new sub-topic.
Weight Change
Financial Statement Analysis: 13–17% → 11–14%
Topic weight trimmed; Derivatives weight increased. FSA remains critical — the reduction reflects consolidation of overlapping readings, not reduced exam importance.
Revised
Economics — Post-Pandemic Monetary Policy
Updated macro readings covering central bank balance sheet normalisation, inflation frameworks, and CBDC (Central Bank Digital Currency) introduction as an economic concept.

Source: CFA Institute curriculum announcements and Learning Outcome Statement (LOS) change summaries. CapTech Academy monitors all annual updates and adjusts teaching material before each exam window.

A Charter for Life

Becoming a CFA Charterholder isn't just about passing exams; it's about joining an elite global network of investment professionals. It signals to employers that you possess the highest level of technical competence and ethical integrity.

HKD's Insight

"The CFA curriculum is the 'Bible' of finance. But reading it and using it are two different things. At CapTech, we teach you how to use it."