CFA Level 2 Topic Weights

The table shows the weights for all CFA level 2 topics as of June 2019 exam:


As you can see, among the most important topics are:

  • Equity Investments (EI),
  • Financial Reporting and Analysis (FRA),
  • Fixed Income (FI), and
  • Ethical and Professional Standards (Eth).

You should devote even up to 60% of your study time to these four topics.

Also – among the topics with the highest number of questions in the exam – you can expect to find Porfolio Management (PM).

Estimated Average Number of Questions for Each CFA Topic

ETH = 15

FRA = 15

DI = 10

PM = 12

QM = 10

CF = 10

FI = 15

TOTAL = 120 questions

ECO = 9

EI = 15

AI = 9

3 minutes per question

Note that the number of questions in your exam may slightly differ from the numbers given above depending on the applied topic weights.

Remember! CFA level 2 exam questions are arranged into item sets. Each item set includes 6 questions. Generally, one item set is devoted to one topic. Do not be surprised, however, if you see an item set with questions from various topics. That's also possible.


Posted in: