CFA Level 2
Chartered Financial Analyst
The CFA Level 2 course shifts the focus from basic understanding to application and analysis. Candidates are expected to apply concepts learned in Level 1 to exam-style scenarios, particularly in valuation, financial statement analysis, and asset classes. This level is more analytical and application-driven.
Syllabus & Subject Weights
Understand the exam weightage across all subjects
Ethics
10 - 15%Quants
5 - 10%Economics
5 - 10%FSA
10 - 15%Corporate Issuers
5 - 10%Portfolio
10 - 15%Equity
10 - 15%Fixed Income
10 - 15%Derivatives
5 - 10%Alt Investments
5 - 10%| Subject | CFA Level 1 | CFA Level 2 | CFA Level 3 |
|---|---|---|---|
| Ethics | 15 - 20% | 10 - 15% | — |
| Quants | 6 - 9% | 5 - 10% | — |
| Economics | 6 - 9% | 5 - 10% | — |
| FSA | 11 - 14% | 10 - 15% | — |
| Corporate Issuers | 6 - 9% | 5 - 10% | — |
| Portfolio | 8 - 12% | 10 - 15% | — |
| Equity | 11 - 14% | 10 - 15% | — |
| Fixed Income | 11 - 14% | 10 - 15% | — |
| Derivatives | 5 - 8% | 5 - 10% | — |
| Alt Investments | 7 - 10% | 5 - 10% | — |
| Asset Allocation | — | — | 15 - 20% |
| Portfolio Construction | — | — | 15-20% |
| Performance Measurement | — | — | 5 - 10% |
| Derivatives and Risk Management | — | — | 10 - 15% |
| Ethical and Professional Standards | — | — | 10 - 15% |
| Portfolio Management Pathway | — | — | 30 - 35% |
| Private Market | — | — | 30 - 35% |
| Private Wealth | — | — | 30 - 35% |
* Ethics and Derivatives in Level 3 are included in the broader curriculum modules.
Career Opportunities
Job roles you can pursue with this certification
Portfolio Management
Manage diversified investment portfolios to balance risk and return. CFA equips you with expertise in asset allocation and risk management.
Research
Analyze markets, industries, and companies to guide investment decisions. CFA strengthens your skills in financial modeling and equity research.
Consulting
Provide strategic advice on financial planning and valuations. The CFA and FRM prepares you for in-depth financial analysis and risk management.
Risk Analysis & Management
Assess and mitigate financial risks for businesses and individuals. FRM specializes in risk frameworks and regulatory compliance.
Asset Management
Oversee investments for institutions or individuals to meet financial goals. CFA sharpens your skills in investment strategies and performance evaluation.
Private Wealth Management
Create customized financial plans for high-net-worth clients. CFA ensures you align investments with client objectives and risk tolerance.
Commercial Banking
Offer credit analysis and financial solutions to businesses and individuals. CFA builds corporate finance expertise, while the FRM designation adds risk evaluation skills.
Investment Banking
Focus on mergers, acquisitions, and capital raising. CFA provides essential skills in financial modeling, valuation, and deal structuring.
Where CFA Charterholders Work
Trusted by leading organizations worldwide
Exam Structure
Understanding the exam format and requirements
Exam Format
- 22 item sets (vignettes with accompanying questions).
- Two sessions of 2 hours, 12 minutes each.
- Optional break between sessions.
Question Format
- Vignette-supported multiple-choice questions.
- Designed to test critical thinking and applied knowledge.
- Three answer choices: A, B, C.
Key Details
- Average pass rate: 46% (2016–2025).
- No negative marking for incorrect answers - attempt every question.
- Results released within 5-7 weeks post-exam
Deadlines & Fees
Registration windows and exam fees for 2026
Important Details
Quick access to essential course information
