CFA Level 1 Topic Weights 2019 Compared To Past Years

CFA Level 1 / Topics / Weights 2019



CFA June 2019 exam is the first exam with the new topic weights. On the graph below you can see how the weights changed for each level 1 topic:


Changes in CFA Level 1 Topics Weights

Click here to see changes

Important: In 2019, CFA level 1 topic weights differ from topic weights applied in previous years. Now, level 1 topics are given 15%, 11%, 10% or 6%. Previously, the values ranged from 20% to 4%. Click above to see exact changes.


CFA June & Dec 2019 Level 1 Topic Weights Ordered

The new hierarchical order of CFA level 1 2019 topic weights is as follows:

  • Financial Reporting and Analysis (FRA) = 15%,
  • Ethical and Professional Standards (Ethics) = 15%,
  • Fixed Income (FI) = 11%,
  • Equity Investments (EI) = 11%,
  • Quantitative Methods (QM) = 10%,
  • Corporate Finance (CF) = 10%,
  • Economics (ECO) = 10%,
  • Portfolio Management (PM) = 6%,
  • Derivative Investments (DI) = 6%,
  • Alternative Investments (AI) = 6%.

See what else you need to know about CFA level 1 topics


We can divide exam topics into 3 groups: most important topics, hardest topics, and easiest topics.

The most important level 1 topics include:

  • Financial Reporting and Analysis (FRA),
  • Ethical and Professional Standards (Ethics), and
  • Quantitative Methods (QM).

You should devote around 40% of your study time to these 3 topics.


Read more about the 3 most important CFA level 1 topics


The hardest level 1 topics include:

  • Financial Reporting and Analysis (FRA),
  • Fixed Income Investments (FI), and
  • Derivative Investments (DI).

Learn why these are the 3 hardest CFA level 1 topics


The easiest level 1 topics include:

  • Equity Investments (EI),
  • Corporate Finance (CF), and
  • Portfolio Management (PM).

Find out when the 3 topics are the easiest


Note: The topic weights on your exam may slightly differ from the benchmark topic weights given by CFA Institute.

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