The course

• 1

  Start here

  CFA Institute sets 88 questions in 22 item sets over two 132-minute sessions

  Free: A tour of Level II
• 2

  Quantitative Methods

  5 to 10% of the exam (CFA Institute's Level II topic weights)

  Multiple regression: testing, fit and misspecificationTime series, machine learning and big data20 questions
• 3

  Economics

  5 to 10% of the exam (CFA Institute's Level II topic weights)

  Currency parity and economic growth20 questions
• 4

  Financial Statement Analysis

  10 to 15% of the exam (CFA Institute's Level II topic weights)

  Intercorporate investments and foreign operationsPensions, share pay, banks and reporting quality26 questions
• 5

  Corporate Finance

  5 to 10% of the exam (CFA Institute's Level II topic weights)

  Payouts, cost of capital and restructuring20 questions
• 6

  Equities

  10 to 15% of the exam (CFA Institute's Level II topic weights)

  Free: Dividend and free cash flow modelsMultiples, residual income and private companies23 questions
• 7

  Fixed Income

  10 to 15% of the exam (CFA Institute's Level II topic weights)

  Term structure and arbitrage-free valuationEmbedded options, credit models and credit default swaps24 questions
• 8

  Derivatives and Risk Management

  5 to 10% of the exam (CFA Institute's Level II topic weights)

  Forwards, swaps and option valuation19 questions
• 9

  Alternative Investments

  5 to 10% of the exam (CFA Institute's Level II topic weights)

  Commodities, real estate and hedge funds24 questions
• 10

  Portfolio Construction

  10 to 15% of the exam (CFA Institute's Level II topic weights)

  Active management, factor models and market pricingETFs, market risk and backtesting24 questions
• 11

  Ethical and Professional Standards

  10 to 15% of the exam (CFA Institute's Level II topic weights)

  Free: Duties to clients and the marketsDuties to employers, analysis and conflicts22 questions
• 12

  Test day

  Pace each 132-minute session of 11 item sets

  Test day