Level I study guide (2027)
2027 orientation. Level I emphasizes learning and describing foundational concepts. Topic labels and ranges below are public planning metadata from CFA Institute, accessed 28 September 2026; they are not a predicted question count.
| Topic | Published range | PureAlpha entry point |
|---|---|---|
| Ethical and Professional Standards | 10–15% | Ethics and professional practice |
| Quantitative Methods | 11–14% | Quantitative methods |
| Economics | 6–9% | Economics |
| Financial Statement Analysis | 11–14% | Financial statement analysis |
| Corporate Finance | 6–9% | Corporate finance |
| Equities | 11–14% | Equity investments |
| Fixed Income | 11–14% | Fixed income |
| Derivatives and Risk Management | 6–9% | Derivatives and risk management |
| Alternative Investments | 6–9% | Alternative investments |
| Portfolio Construction | 8–12% | Portfolio management |
Recommended loop
- Diagnose prerequisite gaps.
- Read an original concept article and reproduce its logic unaided.
- Work calculations in the Calculator lab and by hand.
- Complete original retrieval questions in the Practice studio.
- Record errors by concept, not only by score.
Official reference
CFA Institute: Level I exam (accessed 28 September 2026). Use the official source for current rules and materials.