CFA Level 2: 2024 Curriculum Changes (vs. 2023)
Summary:
- 2024's L2 curriculum is largely similar to 2023's.
New
Updated
- L2 2024 has 47 LMs: 3 LMs removed and 1 added vs 2023.
Removed
Moved
- Overall, not much changes vs. 2023 except a chapter in FSA, Equity and Alt Investment.
Topic
Quantitative Methods
(QM)
Economics
Financial Statement
Analysis (FSA)
Corporate Issuers
Equity
Fixed Income
Derivatives
Alternative Investments
Portfolio Management
(PM)
Ethics
Learning Mod. #
Reading Name
1
Basics of Multiple Regression and Underlying Assumptions
Comments
2
Evaluating Regression Model Fit and Interpreting Model Results
3
Model Misspecification
4
Extensions of Multiple Regression
5
Time-Series Analysis
6
Machine Learning
7
Big Data Projects
8
Currency Exchange Rates: Understanding Equilibrium Value
9
Economic Growth
10
Economics of Regulations
11
Intercorporate Investments
12
Employee Compensation: Post Employment and Share-based
13
Multinational Operations
14
Analysis of Financial Institutions
15
Evaluating Quality of Financial Reports
16
Integration of Financial Statement Analysis Techniques
17
Financial Statement Modeling
18
Analysis of Dividends and Share Repurchases
19
Environmental, Social, and Governance (ESG) Considerations in Investment Analysis
20
Cost of Capital: Advanced Topics
21
Corporate Restructuring
22
Equity Valuation: Applications and Processes
23
Discounted Dividend Valuation
24
Free Cash Flow Valuation
25
Market-Based Valuation: Price and Enterprise Value Multiples
26
Residual Income Valuation
27
Private Company Valuation
28
The Term Structure & Interest Rate Dynamics
29
The Arbitrage Free Valuation Framework
30
Valuation & Analysis of Bonds with Embedded Options
31
Credit Analysis Models
32
Credit Default Swaps
33
Pricing & Valuation of Forward Commitments
34
Valuation of Contingent Claims
39 35
Introduction to Commodities & Commodity Derivatives
35 36
Overview of Types of Real Estate Investment
36
Investment in Real Estate Through Private Vehicles
37
Investments in Real Estate Through Publicly Traded Securities
38
Private Equity Investments
38
Hedge Fund Strategies
40 39
Exchange-Traded Funds: Mechanics & Applications
41 40
Using Multifactor Models
42 41
Measuring & Managing Market Risk
43 42
Backtesting and Simulation
44 43
Economics and Investment Markets
45 44
Analysis of Active Portfolio Management
46
Trading Costs and Electronic Markets
47 45
Code of Ethics and Standards of Professional Conduct
48 46
Guidance for Standards I-VII
49 47
Application of the Code and Standards: Level II
Major revision: all LOS changed, 1 added.
Major revision: 1 LOS removed, 4 updated.
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