CFA CFA Level 1 Curriculum Changes from December to June

Curriculum Changes from December to June

  • Author
    • Avatar of PrestigeWorldWidePrestigeWorldWide
        • CFA Level 1

        Hey guys,

        I recently had to push back my test date for the Level 1 from December of this year to June of next year (military obligations)

        I have all the Kaplan Schweser test material from 2014 (including the videos) and was wondering how much the curriculum usually changes from year to year. I really don’t want to have to repurchase and another set of study materials. Can anyone who has taken Level 1 in December and June of the following year comment on this

        Thanks, I really appreciate it.

      • Up

        Thanks for the replies, this was very helpful.

      • Avatar of FinancialExamAcademyFinancialExamAcademy
          • CFA Charterholder


          This year the changes are slightly more dramatic than usual as the number of readings has been reduced and the guideline exam
          weights for the individual topics have been adjusted for the first time
          in years. So if you are re-sitting the test in June 2015 and contemplating using 2014 study materials it is a bit of a gamble.

          The biggest changes are the following:

          1. The Ethical and Professional Standards readings have been updated to reflect the latest Standards of Practice Handbook.
          2. Two readings (33 & 34) from the dreaded Financial Reporting & Analysis topic
            area have been removed and replaced by a single reading (Financial Reporting Quality).
          3. A new reading has been added to Fixed Income again this year (Introduction to Asset-Backed Securities).
          4. Four Derivatives readings (58-61) have been removed and replaced by a single reading (Basics of Derivative Pricing and Valuation).

          So for these 4 out of 10 topic areas I would definitely not rely on the 2014 Schweser materials.

          Sorry I can’t give you a more upbeat response, but hopefully better to know the truth than to waste time studying material that is no longer on the test.

          All the best,

        • Avatar of hairyfairyhairyfairy
            • Undecided

            @PrestigeWorldWide‌ there are changes across the years, but usually providers publish a list of changes that you can refer to.

            There’s a detailed one here:
            And a high-level one here:

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