Changes in the CFA Level II Curriculum from 2012 to 2013

• Readings have been reduced from 64 to 56
• Employee Compensation, Important FRA reading, has some revisions
• Economics has been revamped to three readings i.e. Currency Exchange Rate Determination & Forecasting, Economic Growth & Investment Decision, & Economic of Regulation
• A Note to Asset Valuation, Industry Analysis, & Valuation in Emerging Markets have been deleted in Equity
• Alternatives first two readings have been replaced with Private Real Estate Investments & Publicly Traded Real Estate Securities
• Fixed Income reading General Principles of Credit Analysis has been replaced with Fundamental of Credit Analysis
• Using Derivatives to Enhance Return & Manage Risk has been replaced with Credit Derivatives: An Overview.
• Two Portfolio Management Readings, A Note on Harry Markowitz’s Market Efficiency and International Asset Pricing, have been deleted.
• Corporate Finance, Quantitative Methods & Ethics are the same