CFA Formula Pack
Formula and Exam Cheat Sheet
2026 study edition
AAlphura
CFA Formula and Exam Cheat Sheet
A formula booklet built for fast exam review.
350+ formulas across all CFA levels, arranged like a compact study booklet with shortcuts, traps, calculator notes, and review pages candidates can keep open while practicing.
190+Formula index
44Exam traps
32Calculator notes
Exam-weighted order
High-frequency formulas appear first inside each topic.
Calculator ready
BA II Plus and HP 12C reminders sit beside core formulas.
Worked visual checks
Duration, regression, valuation, and return topics include compact exhibits.
Shortcut memory cues
Each page highlights the fastest path and the common trap.
L1
CFA Level 1 Formula Pages
152 formulasBooklet page
Quantitative Methods
- Time Value of Money
- Descriptive Statistics
- Hypothesis Testing
- Linear Regression
Booklet page
Economics
- GDP calculations
- Elasticity formulas
- PPP and IRP
- Money multiplier
Booklet page
Financial Statement Analysis
- DuPont decomposition
- Inventory methods
- Depreciation methods
- Ratio analysis
Booklet page
Corporate Issuers
- WACC
- NPV and IRR
- CAPM
- Operating leverage
Booklet page
Equity Investments
- DDM
- P/E and P/B
- Free cash flow
- Sustainable growth
Booklet page
Fixed Income
- Bond pricing
- Duration
- Convexity adjustment
- Forward rates
Booklet page
Derivatives
- Put-call parity
- Binomial pricing
- Forward pricing
- Option payoffs
Booklet page
Portfolio Management
- CAPM and SML
- Portfolio variance
- Sharpe ratio
- Information ratio
L2
CFA Level 2 Formula Pages
120 formulasBooklet page
Quantitative Methods
- Multiple regression
- Time-series analysis
- Machine learning basics
Booklet page
Financial Reporting
- Intercorporate investments
- Pension accounting
- Multinational operations
Booklet page
Equity Valuation
- Residual income
- Multi-stage DDM
- Private company valuation
Booklet page
Fixed Income
- Term structure models
- Credit analysis
- Structured products
Booklet page
Derivatives
- Black-Scholes-Merton
- Interest rate swaps
- Options Greeks
Booklet page
Alternative Investments
- Real estate valuation
- Private equity
- Hedge fund performance
L3
CFA Level 3 Formula Pages
78 formulasBooklet page
Behavioral Finance
- Prospect theory
- Cognitive biases framework
Booklet page
Asset Allocation
- Mean-variance optimization
- Black-Litterman
- Risk budgeting
Booklet page
Fixed Income PM
- Immunization strategies
- Liability-driven investing
- Key rate duration
Booklet page
Equity PM
- Factor models
- Active share
- Tracking error
Booklet page
Derivatives and Risk
- Delta hedging
- VaR calculations
- Currency overlay
Booklet page
Wealth Planning
- After-tax returns
- Estate planning formulas
- Risk tolerance scoring
More than a formula list
Review pages that connect formulas to decisions.
Each section pairs the formula with the exam situation where it is most often tested, so candidates are not just memorizing symbols.
Print-ready review
Designed for desk review, last-week revision, and offline markups.
PDF-friendly structure
Clear headings and compact spacing for clean browser print output.
Trap callouts
Common distractors, sign errors, and formula variants appear beside the topic.
Practice links
Use the booklet while moving directly into topic practice and daily sets.
Keep the booklet open while you practice.
Pair formula recall with timed questions so the cheat sheet becomes exam-ready memory.
Try free practice