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CFA Level II - STUDY PLAN 2026

  • Overview

  • Instructor's
    Notes

  • Video
    Explanation

The CFA Level II study plan is designed to build upon the foundational knowledge gained in Level I, diving deeper into specialized areas such as market risk, credit risk, operational risk, liquidity risk, investment management, and current issues in financial markets. This comprehensive plan aims to provide a thorough understanding of each topic, ensuring a balanced and in-depth preparation for the exam.
Click  here  to download the Schedule as pdf.

KEY used to represent the five modules:

MR

Market Risk Measurement and Management

CR

Credit Risk Measurement and Management

OR

Operational Risk and Resiliency

LR

Liquidity and Treasury Risk Management

IM

Risk Management & Investment Management

CI

Current Issues in Financial Markets

Schedule

WEEK

01

MR

WEEK

02

IM

WEEK

03

MR
  • Some Correlation Basics - Properties, Motivation, Terminology [MR‑7]
  • Empirical Properties of Correlation [MR‑8]
  • Financial Correlation Modeling—Bottom-Up Approaches [MR‑9]
  • Volatility Smiles [MR‑15]

WEEK

04

MR
  • Empirical Approaches to Risk Metrics & Hedging [MR‑10]
  • The Science of Term Structure Models [MR‑11]
  • The Evolution of Short Rates & the Shape of the Term Structure [MR‑12]
  • The Art of Term Structure Models – Drift [MR‑13]
  • The Art of Term Structure Models – Volatility and Distribution [MR‑14]