CFA Level I study plan

Map each of the seven Standards of Professional Conduct to a plain-language rule and a self-authored example of a violation

Apply the Standards to at least 10 short written dilemma scenarios and justify each conclusion in one sentence

Compute holding-period, arithmetic mean, geometric mean, and distinguish money-weighted from time-weighted returns

Calculate standard error, apply the central limit theorem, and select the appropriate sampling method for a stated research question

Rebuild an income statement, balance sheet, and cash flow statement from a single trial balance and verify that all three articulate

Convert accrual net income into operating cash flow using the indirect method on two self-constructed examples

Compute and interpret liquidity, solvency, profitability, and activity ratios from a completed balance sheet

Identify and explain the reporting choices that most distort comparability across firms

Compare FIFO, LIFO, and weighted-average inventory methods and quantify the effect of each on gross margin and inventory turnover

Analyze how lease classification and pension assumptions change reported leverage and coverage ratios

Evaluate a corporate governance structure by testing board independence, shareholder rights, and stakeholder mechanisms

Compute WACC, cost of equity via CAPM, and after-tax cost of debt, then test how a change in capital structure moves WACC

Value a common equity using a dividend discount model, an FCFE model, and at least two relative multiples, then reconcile the estimates

Apply Gordon growth and a two-stage model and identify which single input drives the widest valuation range

Price bonds from spot rates, compute YTM and forward rates, and estimate price change using duration and convexity

Explain the shape of the yield curve under pure expectations, liquidity preference, and segmented market theories

Analyze securitization structures, mortgage prepayment risk, and the standard measures of credit risk and yield spreads

Explain how GDP, inflation, and unemployment are measured and how each behaves across the business cycle

Trace the transmission of a policy rate change through short rates, long rates, and bond prices

Compute spot and forward currency cross rates and interpret the effect of monetary and fiscal policy on exchange rates

Price equity, bond, and currency forwards and futures using the cost-of-carry relationship and identify arbitrage when price deviates

Compute option payoffs at expiration, verify put-call parity numerically, and interpret delta, gamma, theta, and vega

Distinguish hedge fund, private capital, real estate, and commodity strategies by return source, liquidity, and leverage

Calculate net-of-fee returns for a fund with a management fee and incentive fee, and compare IRR to the multiple-of-invested-capital measure

Compute portfolio expected return, variance, and covariance for two- and three-asset portfolios and quantify the diversification benefit

Calculate beta, CAPM required return, and the Sharpe ratio, and place a portfolio on the capital market line

Draft the risk and return objectives and constraints of an investment policy statement for a stated client profile

Re-solve the Ethics scenarios missed in week 1 and restate the governing Standard behind each answer

Complete two full-length timed mock exams under exam conditions and log every error by domain and by error type

Recompute from memory every missed calculation item in Quantitative Methods, Fixed Income, and Derivatives without consulting notes

Answer 20 new Ethics scenario questions at 85% or higher using the week 1 decision framework

Compress each domain into a one-page formula and concept sheet written from recall