Syllabus

A structured study plan is vital to a successful preparation. Proactive Testing provides a customized syllabus with two preliminary exams to help clients stay on track. Please see this sample syllabus for the 2006 Level I exam that outlines the structure of our tutorial.

2006 Sample Syllabus: Level I CFA® exam

Lesson Weeks Topic Details
Quant.
SS #2
Jan 9
&
Jul 10
Time value of money
DCF applications
Statistical & probability concepts
Quant.
SS #3
Jan 16
&
Jul 17
Probability distributions
Sampling & estimation
Hypothesis testing
Correlation & Regression
FSA
SS #7
Jan 23
&
Jul 24
Layout & meaning of items on financial statements
Cash flows: CFO (direct vs. indirect), CFI, CFF
Financial ratios
FSA
SS #8
Jan 30
&
Jul 31
Inventory (LIFO, FIFO, weighted average)
Dilutive securities and EPS
FSA
SS #9
Feb 6
&
Aug 7
Capitalization vs. expensing
Depreciation & impairment
Taxes (DTA, DTL, temp & permanent difference)
FSA
SS #10
Feb 13
&
Aug 14
Bonds issued at par, discount, and premium
Capital vs. operating leases and other OBS debt
Corp. finance
SS #11
Feb 20
&
Aug 21
Cost of capital
Capital budgeting (IRR & NPV)
Cash flow estimation
Replacement chain, equivalent annuity, etc.
(pick up preliminary exam #1)
Test & review

Feb 27
&
Aug 28

Prelim 1
(covers lessons 1 – 7)
Equity
SS #13
Mar 6
&
Sep 4
DDM (single & double stage)
PE ratios, growth rates, and ROE
Required rates of return
Fixed- income
SS #14 & 15
Mar 13
&
Sep 11
Bond valuation & price behavior
Duration & convexity measures
Spot rates, forward rates, and bootstrapping
Arbitrage-free valuation
Deriv.
SS #16
Mar 20
&
Sep 18
Options (long/short calls and puts)
Futures & swaps
Deriv.
SS #16 & 17
Mar 27
&
Sep 25
Risk management strategies
Alternative investments
Forex
SS #6
Apr 3
&
Oct 2
Gain from int’l trade
Cross Rates, forward discount/premium
Parity relations (IRP & CIA)
(pick up preliminary exam #2)
Test & review Apr 10
&
Oct 9
Prelim 2
(covers lessons 8 – 12)
Econ
SS #4 & 5
Apr 17
&
Oct 16
Macroeconomics
Microeconomics
Port
SS #12 & 18
Apr 24
&
Oct 23
Securities markets
Portfolio management
Ethics
SS #1
May 1
&
Oct 30
Ethics (study the original ethics books and review every sample question in it)
Review May 8
&
Nov 6
Review (practice a few representative questions that you have already done in each study session)
Review May 15
&
Nov 13
Take under exam conditions the 2003 & 2002 sample exams. Review weak areas.
Review May 22
&
Nov 20
Take at least two online exams on CFA Institute’s website. Review weak areas.
Review May 29
&
Nov 27
Take this whole week off from work Take more sample and online exams and review
Good Luck! Jun 3
&
Dec 2
TEST DAY