About Portfolio Management for the Level I CFA Exam

This forum contains discussion of Portfolio Management topics for the Level I CFA exam.

  • Portfolio Management is covered in Study Sessions 18 and 19
  • Portfolio Management has an exam weight of 6%

Study Session 18

“This study session introduces the concept of a portfolio approach to investments. The needs of individual and institutional investors are each examined, along with the range of available investment solutions. The three main steps in the portfolio management process (planning, execution, and feedback) are outlined. Common measures of portfolio risk and return and the introduction of modern portfolio theory—a quantitative framework for asset pricing and portfolio selection—then follow.”
Source: CFA Institute

Study Session 19

“This study session introduces the portfolio planning and construction process, including the development of an investment policy statement (IPS). A discussion of risk management, including the various types and measures of risk, follows, and a risk management framework is provided. Technical analysis, a set of tools that uses asset price, trading volume, and other similar data for making investment decisions, is then examined. The session concludes with coverage on how financial technology (fintech) is impacting areas within the investment industry, such as investment analysis, automated advice, and risk management.”
Source: CFA Institute