CFA Level I glossary
3,584 terms from all 10 topics of the Level I curriculum, A to Z. Each one is defined in a sentence or two and links to the lesson where it is taught, so you can go straight from a word you have forgotten to the idea behind it.
0–9 4 terms
All 4 terms starting with 0–9A 164 terms
- Abandonment option
- Ability to bear risk
- Absolute risk objective
- Absolute valuation
- Accounting earnings management
- Accrued interest
- Action lag
- Active management
B 139 terms
- Backfill bias
- Backup line of credit
- Backwardation
- Balanced budget multiplier
- Balloon payment
- Balloon risk
- Bank
- Bankruptcy remote
C 433 terms
- Call period
- Call price
- Call protection
- Call protection period
- Call risk
- Callable bond
- Callable preference shares
- Callable preferred stock
D 238 terms
- Daily settlement
- Data capture
- Data curation
- Data science
- Data storage
- Data transfer
- Day-count fraction
- Days of inventory
E 168 terms
- Early stage
- Earnings quality
- Earnings smoothing
- EBIT to interest expense
- EBITDA margin
- Economic influences
- Economic moat
- Economic rights
F 210 terms
- F-statistic
- Fact versus opinion
- Factor-based peer group
- Factory and warehouse
- Fair dealing
- Fair value hedge
- Fair value hierarchy
- Fair value less costs to sell
G 72 terms
- G-spread
- Gain or loss on sale
- Gains from trade
- Gate
- General partner (GP)
- General partnership
- Generalized discounted cash flow model
- Generative AI
H 69 terms
- Haircut
- Halo effect
- Hard commodities
- Hard hurdle rate
- Hard-bullet covered bond
- Harvesting period
- Hedge accounting
- Hedge funds
I 221 terms
- I-spread
- IASB
- Ideal currency regime
- Identifiable intangible
- Identifying the client
- Idiosyncratic risk
- If-converted method
- IFRS
J 15 terms
- J-curve effect
- Jensen’s alpha
- Joint distribution function
- Joint normal distribution
- Judgmental sampling
- Justified dividend yield
- Justified multiple
- Justified trailing P/E
K 7 terms
- Key audit matters
- Key rate duration
- Keynesians
- Kinked demand curve
- Knowledge of the law
- Knowledge, skills and abilities
- Kurtosis
L 143 terms
- Lagging economic indicators
- Large language model (LLM)
- Last in, first out
- Later stage
- Law of one price
- Leading dividend yield
- Leading economic indicators
- Lease liability
M 192 terms
- M²
- Macaulay duration
- Macro risk
- Maintaining competence
- Maintenance capital expenditures
- Maintenance margin
- Managed float
- Managed futures
N 125 terms
- Naive or story-based valuation
- Nash equilibrium
- National security tools
- Nationalism
- Nationalization
- Nature and value of consideration
- Nature of services and costs
- Negative convexity
O 91 terms
- Obtainable market
- Off-exchange trading
- Off-the-run securities
- Oligopoly
- Omission
- Omnichannel
- On-the-run
- On-the-run securities
P 304 terms
All 304 terms starting with PQ 16 terms
- Qualified opinion
- Quality spectrum
- Quantitative easing
- Quartiles
- Quick ratio
- Quota rent
- Quote-driven market
- Quoted margin
R 270 terms
- R_p below r_e
- Rapid amortization provision
- Rationalization
- Razor-razorblade pricing
- RCF to net debt
- Real assets
- Real earnings management
- Real estate investment trust (REIT)
S 368 terms
- Sample standard deviation
- Sampling error
- Sampling with replacement
- Scenario evaluation (calculation engine)
- Scenario generation
- Search
- Seasoned equity offering
- Secondary equity market
T 161 terms
- T-statistic for a correlation
- T-test of the slope
- Tabulator or registrar
- Tactical asset allocation (TAA)
- Tag cloud
- Tail risk
- Take-private transaction
- Tangency portfolio
U 50 terms
- Uncommitted line of credit
- Unconditional covariance
- Unconditional mean
- Unconditional standard deviation
- Unconditional variance
- Underfitting
- Underlying
- Undervalued
V 67 terms
- Validation dataset
- Validators
- Valuation allowance
- Value added resellers
- Value anomaly
- Value at expiration
- Value at initiation
- Value at risk
W 41 terms
- WACC at or below the cost of equity
- Watch list and restricted list
- Weather risk
- Weighted average cost
- Weighted average coupon
- Weighted average maturity
- Weighted average number of shares
- Weighted-average cost of capital (WACC)
Y 7 terms
- Yield curve
- Yield level effect
- Yield spread
- Yield to call
- Yield to maturity
- Yield to worst
- Yield-to-maturity
Z 9 terms
- Z-spread
- Z-tranche
- Zero curve
- Zero rate
- Zero value at inception
- Zero-coupon bond
- Zero-coupon bonds
- Zero-investment portfolio
Practicing? Try the free practice questions by topic, or keep the formula sheet open alongside.