Level I CFA : 2014 - 2015 Program Changes

Notes and Key The 2015 curriculum readings have been reduced from 63 to 60 Red Removed

The changes are primarily on Derivatives. Green New/Added

For any questions or comments please email us at support@irfanullah.co Yellow Updated

Topic 2014 # 2014 Reading Name 2015 # 2015 Reading Name Comments1 Code of Ethics and Standards of Professional Conduct 1 Code of Ethics and Standards of Professional Conduct

2 Guidance for Standards IVII 2 Guidance for Standards IVII Revised SOPH

3 Introduction to the Global Investment Performance Standards (GIPS) 3 Introduction to the Global Investment Performance Standards (GIPS)

4 Global Investment Performance Standards (GIPS) 4 Global Investment Performance Standards (GIPS)

5 The Time Value of Money 5 The Time Value of Money Updated Examples

6 Discounted Cash Flow Applications 6 Discounted Cash Flow Applications Updated Examples

7 Statistical Concepts and Market Returns 7 Statistical Concepts and Market Returns Updated Examples

8 Probability Concepts 8 Probability Concepts Updated Examples

9 Common Probability Distributions 9 Common Probability Distributions Updated Examples

10 Sampling and Estimation 10 Sampling and Estimation Updated Examples

11 Hypothesis Testing 11 Hypothesis Testing Updated Examples

12 Technical Analysis 12 Technical Analysis

13 Demand and Supply Analysis: Introduction 13 Demand and Supply Analysis: Introduction

14 Demand and Supply Analysis: Consumer Demand 14 Demand and Supply Analysis: Consumer Demand

15 Demand and Supply Analysis: The Firm 15 Demand and Supply Analysis: The Firm

16 The Firm and Market Structures 16 The Firm and Market Structures

17 Aggregate Output, Prices, and Economic Growth 17 Aggregate Output, Prices, and Economic Growth

18 Understanding Business Cycles 18 Understanding Business Cycles

19 Monetary and Fiscal Policy 19 Monetary and Fiscal Policy

20 International Trade and Capital Flows 20 International Trade and Capital Flows

21 Currency Exchange Rates 21 Currency Exchange Rates

22 Financial Statement Analysis: An Introduction 22 Financial Statement Analysis: An Introduction

23 Financial Reporting Mechanics 23 Financial Reporting Mechanics

24 Financial Reporting Standards 24 Financial Reporting Standards

25 Understanding Income Statements 25 Understanding Income Statements

26 Understanding Balance Sheets 26 Understanding Balance Sheets

27 Understanding Cash Flow Statements 27 Understanding Cash Flow Statements

28 Financial Analysis Techniques 28 Financial Analysis Techniques

29 Inventories 29 Inventories

30 Long-Lived Assets 30 Long-Lived Assets

31 Income Taxes 31 Income Taxes

32 Non-current (Long-Term) Liabilities 32 Non-current (Long-Term) Liabilities

33 Financial Reporting Quality: Red Flags and Accounting Warning Signs 33 Financial Reporting Quality New Authors

34 Accounting Shenanigans on the Cash Flow Statement 34 Financial Statement Analysis: Applications

35 Financial Statement Analysis: Applications

36 Capital Budgeting 35 Capital Budgeting

37 Cost of Capital 36 Cost of Capital

38 Measures of Leverage 37 Measures of Leverage

39 Dividends and Share Repurchases: Basics 38 Dividends and Share Repurchases: Basics

40 Working Capital Management 39 Working Capital Management

41 The Corporate Governance of Listed Companies: A Manual for Investors 40 The Corporate Governance of Listed Companies: A Manual for Investors

Ethics

Quantitative

Methods

Economics

FRA

Corporate

Finance

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Level I CFA : 2014 - 2015 Program Changes

Topic 2014 # 2014 Reading Name 2015 # 2015 Reading Name Comments

42 Portfolio Management: An Overview 41 Portfolio Management: An Overview

43 Portfolio Risk and Return: Part I 42 Portfolio Risk and Return: Part I

44 Portfolio Risk and Return: Part II 43 Portfolio Risk and Return: Part II

45 Basics of Portfolio Planning and Construction 44 Basics of Portfolio Planning and Construction

46 Market Organization and Structure 45 Market Organization and Structure

47 Security Market Indices 46 Security Market Indices

48 Market Efficiency 47 Market Efficiency

49 Overview of Equity Securities 48 Overview of Equity Securities

50 Introduction to Industry and Company Analysis 49 Introduction to Industry and Company Analysis

51 Equity Valuation: Concepts and Basic Tools 50 Equity Valuation: Concepts and Basic Tools

52 Fixed-Income Securities: Defining Elements 51 Fixed-Income Securities: Defining Elements

53 Fixed-Income Markets: Issuance, Trading, and Funding 52 Fixed-Income Markets: Issuance, Trading, and Funding

54 Introduction to Fixed-Income Valuation 53 Introduction to Fixed-Income Valuation

55 Understanding Fixed-Income Risk and Return 54 An Introduction to Asset-Backed Securities

56 Fundamentals of Credit Analysis 55 Understanding Fixed-Income Risk and Return

56 Fundamentals of Credit Analysis

57 Derivative Markets and Instruments 57 Derivative Markets and Instruments

58 Forward Markets and Contracts 58 Basics of Derivative Pricing and Valuation

59 Futures Markets and Contracts 59 Risk Management Applications of Option Strategies

60 Option Markets and Contracts

61 Swap Markets and Contracts

62 Risk Management Applications of Option Strategies

63 Introduction to Alternative Investments 60 Introduction to Alternative InvestmentsAlternative

Investments

Portfolio

Management

Equity

Fixed Income

Derivatives

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