Analyst Dojo

The Level I study map

Each block is a topic, sized by its share of the exam. Each square is a learning module. Squares fill with your belt colour as you finish lessons and checkpoints.

Quantitative Methods

6–9%

Economics

6–9%

Corporate Issuers

6–9%

Financial Statement Analysis

11–14%

Equity Investments

11–14%

Fixed Income

11–14%

Derivatives

5–8%

Alternative Investments

7–10%

Portfolio Management

8–12%

Ethical and Professional Standards

15–20%

All 93 modules

Quantitative Methods 6–9%

  1. Rates and Returns
  2. Time Value of Money in Finance
  3. Statistical Measures of Asset Returns
  4. Probability Trees and Conditional Expectations
  5. Portfolio Mathematics
  6. Simulation Methods
  7. Estimation and Inference
  8. Hypothesis Testing
  9. Parametric and Non-Parametric Tests of Independence
  10. Simple Linear Regression
  11. Introduction to Big Data Techniques

Economics 6–9%

  1. The Firm and Market Structures
  2. Understanding Business Cycles
  3. Fiscal Policy
  4. Monetary Policy
  5. Introduction to Geopolitics
  6. International Trade
  7. Capital Flows and the FX Market
  8. Exchange Rate Calculations

Corporate Issuers 6–9%

  1. Organizational Forms, Corporate Issuer Features, and Ownership
  2. Investors and Other Stakeholders
  3. Corporate Governance: Conflicts, Mechanisms, Risks, and Benefits
  4. Working Capital and Liquidity
  5. Capital Investments and Capital Allocation
  6. Capital Structure
  7. Business Models

Financial Statement Analysis 11–14%

  1. Introduction to Financial Statement Analysis
  2. Analyzing Income Statements
  3. Analyzing Balance Sheets
  4. Analyzing Statements of Cash Flows I
  5. Analyzing Statements of Cash Flows II
  6. Analysis of Inventories
  7. Analysis of Long-Term Assets
  8. Topics in Long-Term Liabilities and Equity
  9. Analysis of Income Taxes
  10. Financial Reporting Quality
  11. Financial Analysis Techniques
  12. Introduction to Financial Statement Modeling

Equity Investments 11–14%

  1. Market Organization and Structure
  2. Security Market Indexes
  3. Market Efficiency
  4. Overview of Equity Securities
  5. Company Analysis: Past and Present
  6. Industry and Competitive Analysis
  7. Company Analysis: Forecasting
  8. Equity Valuation: Concepts and Basic Tools

Fixed Income 11–14%

  1. Fixed-Income Instrument Features
  2. Fixed-Income Cash Flows and Types
  3. Fixed-Income Issuance and Trading
  4. Fixed-Income Markets for Corporate Issuers
  5. Fixed-Income Markets for Government Issuers
  6. Fixed-Income Bond Valuation: Prices and Yields
  7. Yield and Yield Spread Measures for Fixed-Rate Bonds
  8. Yield and Yield Spread Measures for Floating-Rate Instruments
  9. The Term Structure of Interest Rates: Spot, Par, and Forward Curves
  10. Interest Rate Risk and Return
  11. Yield-Based Bond Duration Measures and Properties
  12. Yield-Based Bond Convexity and Portfolio Properties
  13. Curve-Based and Empirical Fixed-Income Risk Measures
  14. Credit Risk
  15. Credit Analysis for Government Issuers
  16. Credit Analysis for Corporate Issuers
  17. Fixed-Income Securitization
  18. Asset-Backed Security (ABS) Instrument and Market Features
  19. Mortgage-Backed Security (MBS) Instrument and Market Features

Derivatives 5–8%

  1. Derivative Instrument and Derivative Market Features
  2. Forward Commitment and Contingent Claim Features and Instruments
  3. Derivative Benefits, Risks, and Issuer and Investor Uses
  4. Arbitrage, Replication, and the Cost of Carry in Pricing Derivatives
  5. Pricing and Valuation of Forward Contracts and for an Underlying with Varying Maturities
  6. Pricing and Valuation of Futures Contracts
  7. Pricing and Valuation of Interest Rates and Other Swaps
  8. Pricing and Valuation of Options
  9. Option Replication Using Put–Call Parity
  10. Valuing a Derivative Using a One-Period Binomial Model

Alternative Investments 7–10%

  1. Alternative Investment Features, Methods, and Structures
  2. Alternative Investment Performance and Returns
  3. Investments in Private Capital: Equity and Debt
  4. Real Estate and Infrastructure
  5. Natural Resources
  6. Hedge Funds
  7. Introduction to Digital Assets

Portfolio Management 8–12%

  1. Portfolio Risk and Return: Part I
  2. Portfolio Risk and Return: Part II
  3. Portfolio Management: An Overview
  4. Basics of Portfolio Planning and Construction
  5. The Behavioral Biases of Individuals
  6. Introduction to Risk Management

Ethical and Professional Standards 15–20%

  1. Ethics and Trust in the Investment Profession
  2. Code of Ethics and Standards of Professional Conduct
  3. Guidance for Standards I–VII
  4. Introduction to the Global Investment Performance Standards (GIPS)
  5. Ethics Application