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📊 CFA Level II — Asset Valuation (Exam-Prep)

A free, independent walkthrough of the Level II item-set curriculum, with the heaviest focus on equity and fixed-income valuation.

Last updated: June 2026

A free, independent walkthrough of the Level II item-set curriculum, with the heaviest focus on equity and fixed-income valuation. It maps to CFA Program Level II (item-set / vignette format). The course is organized into 14 modules, ending with a final exam (pass mark 70%). It is independent, free exam-preparation training — not an official or accredited review course.

What you'll learn

  • Ethics, Professional Standards & GIPS (Level II Application)
  • Quantitative Methods
  • Economics — Currency Exchange Rates, Economic Growth, and the Economics of Regulation
  • FSA I — Intercorporate Investments & Business Combinations
  • FSA II — Pensions, Share-based Compensation & Multinational Operations
  • FSA III — Financial Institutions & Quality of Reporting
  • Corporate Issuers
  • Equity I — Discounted Dividend & Free-Cash-Flow Valuation
  • Equity II — Residual Income, Market-Based & Private Company Valuation
  • Fixed Income I — Term Structure & Arbitrage-Free Valuation
  • Fixed Income II — Credit Analysis Models, CDS & Structured Products
  • Derivatives — Pricing & Valuation
  • Alternative Investments: Real Estate, Private Equity & Commodities
  • Active Portfolio Management: Active Return, the Information Ratio, the Fundamental Law, Active Risk Analysis, ETFs, and Trading/Risk Management

Learning objectives

  • Understand the CFA Level II credential, the vignette/item-set format, and an effective study plan.
  • Apply the Code and Standards and quantitative tools (multiple regression, time-series) to scenario data.
  • Analyze advanced financial statements: intercorporate investments, pensions, FX translation, and reporting quality.
  • Value equities using DDM, FCFF/FCFE, residual income, market multiples, and private-company methods.
  • Price fixed-income securities with term-structure models, credit analysis, CDS, and structured products.
  • Value derivatives and alternative investments, and apply multifactor portfolio models.
  • Execute disciplined exam-day strategy across a full set of item sets.