Written by CFA charterholders. Sub-topic analysis, exam strategy, and everything in between.
65 articles · Page 1 of 6
CFA Level 2 changes the format from standalone MCQs to item-set vignettes, shifts you from breadth to depth, and adds ~50–100 hours of stud…
Only ~9% of candidates pass all three CFA levels on first attempt (43% × 43% × 50%). Fewer than 1 in 5 Level 1 registrants ever earn the ch…
The CFA score report doesn't show an exact score — only three performance bands per topic (above 70%, 50–70%, below 50%) and a score box sh…
Roughly 170,000–200,000 candidates register for CFA Level 1 each year — down ~40% from the 2019 peak of 280,000. The drop is mainly a China…
Transfer coefficient (TC) sits in the Full Fundamental Law: IR = IC × √BR × TC. It measures how much forecasting skill survives real-world …
You can attempt each CFA level a maximum of 6 times — 18 total across the programme. There's also a 6-month gap rule and a 2-per-calendar-y…
Macaulay = weighted-average time to cash flows. Modified = Macaulay / (1 + YTM/m), price sensitivity per 1% yield change. Effective = scena…
FCFF goes to all capital providers, discounted at WACC → enterprise value. FCFE goes to equity holders only, discounted at cost of equity →…
FIFO expenses the oldest inventory first; LIFO expenses the newest. In rising prices: LIFO means higher COGS, lower profit, lower tax, lowe…
Mosaic theory is legal under CFA Standard II-A: analysts can combine non-material public and non-material nonpublic information into a mate…
Quant nearly doubles, Ethics shrinks and four topics are renamed. What changes in the 2027 CFA Level 1 curriculum, who it affects, and how …
Active return, active risk (tracking error) and the information ratio explained for CFA candidates, with worked examples and the traps the …
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