Discover the official resource for success on the 2025 CFA Level I exam. Get your copy of the CFA(R) Program Curriculum now.

The 2025 CFA Program Curriculum Level I Box Set contains the content you need to perform well on the Level I CFA exam in 2025. Designed for candidates to use for exam preparation and professional reference purposes, this set includes the full official curriculum for Level I and is part of the larger CFA Candidate Body of Knowledge (CBOK).

Covering all ten core topics found on the Level I exam, the 2025 CFA Program Curriculum Level I Box Set helps you:

Develop critical knowledge and skills essential in the industry. Learn from financial thought leaders. Access market-relevant instruction.

The set also features practice questions to assist with your mastery of key terms, concepts, and formulas. Volumes include:

Volume 1: Quantitative Methods Volume 2: Economics Volume 3: Corporate Issuers Volume 4: Financial Statement Analysis Volume 5: Equity Investments Volume 6: Fixed Income Volume 7: Derivatives Volume 8: Alternative Investments Volume 9: Portfolio Management Volume 10: Ethical and Professional Standards

Indispensable for anyone preparing for the 2025 Level I CFA exam, the 2025 CFA Program Curriculum Level I Box Set is a must-have resource for those seeking the foundational skills required to become a Chartered Financial Analyst(R).

Discover the official resource for success on the 2025 CFA Level III exam. Get your copy of the CFA Program Curriculum now.

The 2025 CFA Program Curriculum Level III Box Set contains the content you need to perform well on the Level III CFA exam in 2025. Designed for candidates to use for exam preparation and professional reference purposes, this set includes the full official curriculum for Level III and is part of the larger CFA Candidate Body of Knowledge (CBOK).

Developed to prepare you for the Level III exam's heavy reliance on information synthesis and solution application within the core curriculum as well as the portfolio management, private markets and private wealth pathways, the Level III curriculum will help you master both calculation-based and word-based problems.

The 2025 CFA Program Curriculum Level III Box Set allows you to:

• Develop critical knowledge and skills essential in the industry.
• Learn from financial thought leaders.
• Access market-relevant instruction.

The set also features practice questions to assist with your mastery of key terms, concepts, and formulas. The volumes in the Level III box set are:

Core Curriculum

• Volume 1: Asset Allocation
• Volume 2: Portfolio Construction
• Volume 3: Performance Measurement
• Volume 4: Derivatives And Risk Management
• Volume 5: Ethical and Professional Standards

Portfolio Management

• Volume 1: Portfolio Management Pathway
• Volume 2: Portfolio Management Pathway

Indispensable for anyone preparing for the 2025 Level III CFA exam, the 2025 CFA Program Curriculum Level III Box Set is a must-have resource for those seeking the advanced skills required to become a Chartered Financial Analyst.

Discover the official resource for success on the 2025 CFA Level II exam. Get your copy of the CFA^(R) Program Curriculum now.

The 2025 CFA Program Curriculum Level II Box Set contains the content you need to perform well on the Level II CFA exam in 2025. Designed for candidates to use for exam preparation and professional reference purposes, this set includes the full official curriculum for Level II and is part of the larger CFA Candidate Body of Knowledge (CBOK).

Organized to get you accustomed to the Level II exam's heavy reliance on vignettes, the Level II curriculum will help you master mini case studies and accompanying analyses.

The 2025 CFA Program Curriculum Level II Box Set allows you to:

• Develop critical knowledge and skills essential in the industry.
• Learn from financial thought leaders.
• Access market-relevant instruction.

The set also offers practice questions to assist with your mastery of key terms, concepts, and formulas. The volumes in the Level II box set are:

• Volume 1: Quantitative Methods
• Volume 2: Economics
• Volume 3: Financial Statement Analysis
• Volume 4: Corporate Issuers
• Volume 5: Equity Investments
• Volume 6: Fixed Income
• Volume 7: Derivatives
• Volume 8: Alternative Investments
• Volume 9: Portfolio Management
• Volume 10: Ethics and Professional Standards

Indispensable for anyone preparing for the 2025 Level II CFA exam, the 2025 CFA Program Curriculum Level II Box Set is a must-have resource for those seeking the intermediate skills required to become a Chartered Financial Analyst^(R).

The essential guide to fixed-income portfolio management, from experts working with CFA Institute

Fixed Income Analysis, 5^th Edition delivers an authoritative overview of how successful investment professionals manage fixed-income portfolios. Back with expanded content on the defining elements of fixed income securities, corporate debt, repurchase agreements, term structure models, and more, the 5^th edition gives students and practitioners alike the tools to understand and apply effective fixed income portfolio management tactics.

Revised and updated by a team of investment experts in collaboration with CFA Institute, this text introduces the fundamental topics of fixed income securities and markets while also providing in-depth coverage of fixed income security valuation. This new edition offers refreshed and expanded content on the analysis and construction of active yield curve and credit strategies for portfolio managers.

Thanks to a wealth of real-world examples, Fixed Income Analysis remains an excellent resource for professionals looking to expand upon their current understanding of this important facet of portfolio management, as well as for students in the undergraduate or graduate classroom.

Through this text, readers will:

• Understand the main features and characteristics of fixed income instruments
• Master the key return and risk measures of fixed income instruments
• Develop and evaluate key fixed income investment strategies based on top-down and bottom-up analysis

The companion workbook (sold separately) includes problems and solutions aligning with the text and allows learners to test their comprehension of key concepts.

CFA Institute is the world's premier association for investment professionals, and the governing body for the CFA(R) Program, CIPM(R) Program, CFA Institute ESG Investing Certificate, and Investment Foundations(R) Program. Investment analysts, portfolio managers, individual and institutional investors and their advisors, and any reader with an interest in fixed income markets will value this accessible and informative guide.

The complete guide to derivatives, from experts working with CFA Institute

Derivatives is the definitive guide to derivatives and derivative markets. Written by experts working with CFA Institute, this book is an authoritative reference for students and investment professionals interested in the role of derivatives within comprehensive portfolio management. General discussion of the types of derivatives and their characteristics gives way to detailed examination of each market and its contracts, including forwards, futures, options, and swaps, followed by a look at credit derivative markets and their instruments. The companion workbook (sold separately) provides problems and solutions that align with the text and allows students to test their understanding while facilitating deeper internalization of the material.

Derivatives have become essential for effective financial risk management and for creating synthetic exposure to asset classes. This book builds a conceptual framework for grasping derivative fundamentals, with systematic coverage and thorough explanations. Readers will:

• Understand the different types of derivatives and their characteristics
• Delve into the various markets and their associated contracts
• Examine the role of derivatives in portfolio management
• Learn why derivatives are increasingly fundamental to risk management

CFA Institute is the world's premier association for investment professionals, and the governing body for CFA^(R) Program, CIPM^(R) Program, CFA Institute ESG Investing Certificate, and Investment Foundations^(R) Program. Those seeking a deeper understanding of the markets, mechanisms, and use of derivatives will value the level of expertise CFA Institute brings to the discussion, providing a clear, comprehensive resource for students and professionals alike. Whether used alone or in conjunction with the companion workbook, Derivatives offers a complete course in derivatives and their use in investment management.

The complete guide to alternative investments, from experts working with CFA Institute

Alternative Investments is the definitive guide to understanding non-traditional asset classes. Alternatives are a disparate group of investments that are distinguished from long-only, publicly traded investments in stocks, bonds, and cash (often referred to as traditional investments). Alternative investments include real estate, commodities, infrastructure, and other non-traditional investments such as private equity or debt and hedge funds. They are attractive to investors because of the potential for portfolio diversification resulting in a higher risk-adjusted return for the portfolio.

Alternative Investments and its accompanying workbook (sold separately) lead students and investment professionals through the many characteristics of non-traditional assets, including:

• Narrow specialization of the investment managers
• Relatively low correlation of returns with those of traditional investments
• Less regulation and less transparency than traditional investments
• Limited historical risk and return data
• Unique legal and tax considerations
• Higher fees, often including performance or incentive fees
• Concentrated portfolios
• Restrictions on redemptions (i.e. lockups and gates)

CFA Institute is the world's premier association for investment professionals, and the governing body for the CFA^(R) Program, CIPM^(R) Program, CFA Institute ESG Investing Certificate, and Investment Foundations^(R) Program. Those seeking a deeper understanding of the markets, mechanisms, and use of alternatives will value the level of expertise CFA Institute brings to the discussion, providing a clear, comprehensive resource for students and professionals alike. Whether used alone or in conjunction with the companion workbook, Alternative Investments offers a complete course in alternative investments and their role in investment management.

Evaluate your understanding of fixed-income portfolio management with exercises for today's investment practitioner

Fixed Income Analysis, 5^th Edition offers the key component of effective learning--practice. Designed for both students and professionals, this companion workbook aligns with the latest Fixed Income Analysis text chapter-by-chapter. To improve your comprehension of core concepts, this book includes brief chapter summaries before diving into challenging practice questions and their solutions, while also laying out learning objectives so you can understand the why of each exercise.

Fixed Income Analysis Workbook, 5^th Edition will help you:

• Synthesize essential material from the main Fixed Income Analysis text using real-world applications.
• Understand the key fundamentals of fixed income securities and portfolio management.
• Work toward specific chapter objectives to internalize important information.

CFA Institute is the world's premier association for investment professionals, and the governing body for the CFA(R) Program, CIPM(R) Program, CFA Institute ESG Investing Certificate, and Investment Foundations(R) Program. Those seeking a deeper understanding of fixed income portfolio management tactics will value the level of expertise CFA Institute brings to the discussion as well as the extra practice delivered in the fifth edition Fixed Income Analysis Workbook based on real scenarios investors face every day.

Hands-on practice with alternative investments based on real-world scenarios

Alternative Investments Workbook provides the key component of effective learning--practice. Designed for both students and investment professionals, this companion workbook conveniently aligns with the Alternative Investments text chapter-by-chapter, offers brief chapter summaries to refresh your memory on key points before you begin working, and explicitly lays out the learning objectives so you understand the why of each problem. This workbook helps you:

• Synthesize essential material from the Alternative Investments text using real-world applications
• Understand the key characteristics of non-traditional investments
• Work toward specific chapter objectives to internalize important information

CFA Institute is the world's premier association for investment professionals, and the governing body for the CFA^(R) Program, CIPM^(R) Program, CFA Institute ESG Investing Certificate, and Investment Foundations^(R) Program. Those seeking a deeper understanding of the markets, mechanisms, and use of alternatives will value the level of expertise CFA Institute brings to the discussion as well as the extra practice delivered in Alternative Investments Workbook based on real scenarios investors face every day.

Discover the official resource for success on the 2024 CFA Level II exam. Get your copy of the CFA^(R) Program Curriculum now.

The 2024 CFA Program Curriculum Level II Box Set contains the content you need to perform well on the Level II CFA exam in 2024. Designed for candidates to use for exam preparation and professional reference purposes, this set includes the full official curriculum for Level II and is part of the larger CFA Candidate Body of Knowledge (CBOK).

Organized to get you accustomed to the Level II exam's heavy reliance on vignettes, the Level II curriculum will help you master mini case studies and accompanying analyses.

The 2024 CFA Program Curriculum Level II Box Set allows you to:

• Develop critical knowledge and skills essential in the industry.
• Learn from financial thought leaders.
• Access market-relevant instruction.

The set also offers practice questions to assist with your mastery of key terms, concepts, and formulas. The volumes in Level II's box set are:

• Volume 1: Quantitative Methods and Economics
• Volume 2: Financial Statement Analysis
• Volume 3: Corporate Issuers and Equity Valuation
• Volume 4: Equity Valuation and Fixed Income
• Volume 5: Derivatives, Alternative Investments, and Portfolio Management
• Volume 6: Portfolio Management and Ethical and Professional Standards

Indispensable for anyone preparing for the 2024 Level II CFA exam, the 2024 CFA Program Curriculum Level II Box Set is a must-have resource for those seeking the intermediate skills required to become a Chartered Financial Analyst^(R).

Discover the official resource for success on the 2024 CFA Level III exam. Get your copy of the CFA^(R) Program Curriculum now.

The 2024 CFA Program Curriculum Level III Box Set contains the content you need to perform well on the Level III CFA exam in 2024. Designed for candidates to use for exam preparation and professional reference purposes, this set includes the full official curriculum for Level III and is part of the larger CFA Candidate Body of Knowledge (CBOK).

Developed to prepare you for the Level III exam's heavy reliance on information synthesis and solution application regarding portfolio management and wealth planning, the Level III curriculum will help you master both calculation-based and word-based problems.

The 2024 CFA Program Curriculum Level III Box Set allows you to:

• Develop critical knowledge and skills essential in the industry.
• Learn from financial thought leaders.
• Access market-relevant instruction.

The set also features practice questions to assist with your mastery of key terms, concepts, and formulas. The volumes in Level III's box set are:

• Volume 1: Behavioral Finance, Capital Market Expectations, and Asset Allocation
• Volume 2: Derivatives, Currency Management, and Fixed Income
• Volume 3: Fixed Income and Equity Portfolio Management
• Volume 4: Alternative Investment, Portfolio Management, and Private Wealth Management
• Volume 5: Institutional Investors, Other Topics in Portfolio Management, and Cases
• Volume 6: Ethics and Professional Standards

Indispensable for anyone preparing for the 2024 Level III CFA exam, the 2024 CFA Program Curriculum Level III Box Set is a must-have resource for those seeking the advanced skills required to become a Chartered Financial Analyst^(R).

Discover the official resource for success on the 2025 CFA Level III exam. Get your copy of the CFA Program Curriculum now.

The 2025 CFA Program Curriculum Level III Box Set contains the content you need to perform well on the Level III CFA exam in 2025. Designed for candidates to use for exam preparation and professional reference purposes, this set includes the full official curriculum for Level III and is part of the larger CFA Candidate Body of Knowledge (CBOK).

Developed to prepare you for the Level III exam's heavy reliance on information synthesis and solution application within the core curriculum as well as the portfolio management, private markets and private wealth pathways, the Level III curriculum will help you master both calculation-based and word-based problems.

The 2025 CFA Program Curriculum Level III Box Set allows you to:

• Develop critical knowledge and skills essential in the industry.
• Learn from financial thought leaders.
• Access market-relevant instruction.

The set also features practice questions to assist with your mastery of key terms, concepts, and formulas. The volumes in the Level III box set are:

Core Curriculum

• Volume 1: Asset Allocation
• Volume 2: Portfolio Construction
• Volume 3: Performance Measurement
• Volume 4: Derivatives And Risk Management
• Volume 5: Ethical and Professional Standards

Private Markets

• Volume 1: Private Markets Pathway
• Volume 2: Private Markets Pathway

Indispensable for anyone preparing for the 2025 Level III CFA exam, the 2025 CFA Program Curriculum Level III Box Set is a must-have resource for those seeking the advanced skills required to become a Chartered Financial Analyst.

Discover the official resource for success on the 2025 CFA Level III exam. Get your copy of the CFA Program Curriculum now.

The 2025 CFA Program Curriculum Level III Box Set contains the content you need to perform well on the Level III CFA exam in 2025. Designed for candidates to use for exam preparation and professional reference purposes, this set includes the full official curriculum for Level III and is part of the larger CFA Candidate Body of Knowledge (CBOK).

Developed to prepare you for the Level III exam's heavy reliance on information synthesis and solution application within the core curriculum as well as the portfolio management, private markets and private wealth pathways, the Level III curriculum will help you master both calculation-based and word-based problems.

The 2025 CFA Program Curriculum Level III Box Set allows you to:

• Develop critical knowledge and skills essential in the industry.
• Learn from financial thought leaders.
• Access market-relevant instruction.

The set also features practice questions to assist with your mastery of key terms, concepts, and formulas. The volumes in the Level III box set are:

Core Curriculum

• Volume 1: Asset Allocation
• Volume 2: Portfolio Construction
• Volume 3: Performance Measurement
• Volume 4: Derivatives And Risk Management
• Volume 5: Ethical and Professional Standards

Private Wealth

• Volume 1: Private Wealth Pathway
• Volume 2: Private Wealth Pathway

Indispensable for anyone preparing for the 2025 Level III CFA exam, the 2025 CFA Program Curriculum Level III Box Set is a must-have resource for those seeking the advanced skills required to become a Chartered Financial Analyst.

The companion workbook to the Investment Management volume in the CFA Institute's Portfolio Management in Practice series provides students and professionals with essential practice regarding key concepts in the portfolio management process. Filled with stimulating exercises, this text is designed to help learners explore the multifaceted topic of investment management in a meaningful and productive way.

The Investment Management Workbook is structured to further readers' hands-on experience with a variety of learning outcomes, summary overview sections, challenging practice questions, and solutions. Featuring the latest tools and information to help users become confident and knowledgeable investors, this workbook includes sections on professionalism in the industry, fintech, hedge fund strategies, and more.

With the workbook, readers will learn to:

• Form capital market expectations
• Understand the principles of the asset allocation process
• Determine comprehensive investment strategies within each asset class
• Integrate considerations specific to high net worth individuals or institutions into the selection of strategies
• Execute and evaluate chosen strategies and investment managers

Well suited for individuals who learn on their own, this companion resource delivers an example-driven method for practicing the tools and techniques covered in the primary Investment Management volume, incorporating world-class exercises based on actual scenarios faced by finance professionals every day.

The complete guide to corporate finance, for today's practitioners from CFA Institute

After ten years, the third edition of the CFA Institute Investment Series' Corporate Finance text has arrived with a decisive focus on the needs of today's investment professionals. Now titled Corporate Finance: Economic Foundations and Financial Modeling, this third edition outlines the essential tools, concepts, and applications within the discipline of corporate finance that businesses need to thrive.

New and refreshed content on Environmental, Social, and Governance (ESG) considerations alongside foundational coverage of capital structure and measures of leverage empower readers to support the growth of their organizations and develop the skills to succeed in our current corporate world. Six new chapters expand this updated discussion of corporate finance via topics such as corporate structures and ownership, capital investments, business models and risks, corporate restructuring, and more.

The companion workbook (sold separately) offers problems and solutions aligning with the text and allows learners to test their comprehension of key concepts.

Through Corporate Finance: Economic Foundations and Financial Modeling, 3^rd Edition, readers will become proficient in the following areas:

• Corporate structures and governance
• Capital budgeting
• Cost of capital
• Measures of leverage
• Business models, risks, and restructurings

CFA Institute is the world's premier association for investment professionals, and the governing body for the CFA(R) Program, CIPM(R) Program, CFA Institute ESG Investing Certificate, and Investment Foundations(R) Program. Those seeking a deeper understanding of the fundamentals behind corporate finance will value the level of expertise CFA Institute brings to the discussion, providing a clear, comprehensive resource for students and professionals alike.

Evaluate your understanding of corporate finance with practice for today's professional

Corporate Finance: Economic Foundations and Financial Modeling Workbook, 3^rd Edition offers the key component of effective learning--practice. Designed for both students and investment professionals, this companion workbook aligns with the latest Corporate Finance text chapter-by-chapter. To improve your comprehension of core concepts, this book includes brief chapter summaries before diving into challenging practice questions and their solutions, while also laying out learning objectives so you can understand the why of each exercise.

Corporate Finance: Economic Foundations and Financial Modeling Workbook, 3^rd Edition will help you:

• Synthesize essential material from the main Corporate Finance text using real-world applications.
• Understand the key fundamentals of the corporate finance discipline.
• Work toward specific chapter objectives to internalize important information.

CFA Institute is the world's premier association for investment professionals, and the governing body for the CFA(R) Program, CIPM(R) Program, CFA Institute ESG Investing Certificate, and Investment Foundations(R) Program. Those seeking a deeper understanding of corporate finance and its overall impact on organizational growth will value the level of expertise CFA Institute brings to the discussion as well as the extra practice delivered in the third edition Corporate Finance: Economic Foundations and Financial Modeling Workbook based on real scenarios investors face every day.

An in-depth exploration of economics as it applies to investing and investment analysis In the newly revised second edition of Economics for Investment Decision Makers: Micro, Macro, and International Economics, the CFA Institute presents a robust and authoritative discussion of macro- and microeconomics relevant to investors and investment analysts. The book explores foundational topics in significant detail while including coverage of topics like international trade, currency exchange rate forecasting, and foreign exchange markets. Distinguished academics and practitioners also provide resources relevant to securities analysis, industry analysis, country analysis, portfolio management, and capital market strategy. They equip readers to understand and apply economic news to their own valuations and offer an expansive selection of examples and illustrations to highlight the application of the concepts discussed within.

The Asset Allocation Workbook offers a range of practical information and exercises that reinforce the key concepts explored in Portfolio Management in Practice, Volume 2: Asset Allocation. Part of the reputable CFA Institute Investment Series, the workbook is designed to further students' and professionals' hands-on experience with a variety of learning outcomes, summary overview sections, and challenging problems and solutions.

The workbook provides the necessary tools and latest information to help learners advance their skills in this critical facet of portfolio management. Aligning chapter-by-chapter with the main text so readers can easily pair exercises with the appropriate content, this workbook covers:

• Setting capital market expectations to support the asset allocation process
• Principles and processes in the asset allocation process, including handling ESG-integration and client-specific constraints
• Allocation beyond the traditional asset classes to include allocation to alternative investments
• The role of exchange-traded funds can play in implementing investment strategies

The Asset Allocation Workbook has been compiled by experienced CFA members to give learners world-class examples based on scenarios faced by finance professionals every day. For practice on additional aspects of portfolio management, explore Volume 1: Investment Management, Volume 3: Equity Portfolio Management, and their accompanying workbooks to complete the Portfolio Management in Practice series.

The Explanation of the Provisions in Section 21 provides interpretation of each provision contained in Section 21: Fundamentals of Compliance. Asset owners that choose to comply with the Global Investment Performance Standards (GIPS(R)) must comply with all applicable requirements of the GIPS standards, including any Guidance Statements, interpretations, and Questions and Answers (Q&As) published by CFA Institute and the GIPS standards governing bodies.The Fundamentals of Compliance section includes several core principles that create the foundation for the GIPS standards, including properly defining the asset owner, providing GIPS Asset Owner Reports to those who have direct oversight responsibility for total fund assets and total asset owner assets, adhering to applicable laws and regulations, and ensuring that information presented is not false or misleading.Each provision appears in a grey text box. Some words in the provisions are in small capital letters, which indicates defined terms that can be found in the GIPS Standards Glossary. Following each provision is a discussion that provides interpretive guidance to help readers understand the provision.

The Explanation of the Provisions in Section 22 provides interpretation of each provision contained in Section 22: Input Data and Calculation Methodology. Asset owners that choose to comply with the Global Investment Performance Standards (GIPS(R)) must comply with all applicable requirements of the GIPS standards, including any Guidance Statements, interpretations, and Questions and Answers (Q&As) published by CFA Institute and the GIPS standards governing bodies. Consistency of input data used to calculate performance is critical to effective compliance with the GIPS standards and establishes the foundation for full and fair investment performance presentations. Achieving transparency among asset owners' performance presentations requires uniformity in methods used to calculate returns. The GIPS standards mandate the use of certain calculation methodologies to facilitate a clear understanding of the information. It is important that the data being presented to the oversight body is consistent and transparent to aid in the evaluation of performance information and foster strong investment decision-making.Each provision is included in a grey text box. Within the provisions are words appearing in small capital letters. This indicates defined terms that can be found in the GIPS Standards Glossary. Below each provision is a discussion that provides interpretive guidance to help readers understand the provision.