Browse CFA Level I Study Guide

Alternative Investments for CFA Level I

Real estate, private markets, hedge funds, and alternative-asset tradeoffs for Level I.

Alternative Investments is where Level I shifts from familiar public-market structures into assets with different liquidity, valuation, and governance features. Questions often hinge on recognizing what the investor is giving up or gaining relative to traditional securities.

Current Chapter Focus

  • real estate and real-asset exposure
  • private equity and private credit structures
  • hedge-fund strategies and fee logic
  • diversification claims versus liquidity and transparency tradeoffs

The chapter root is live. Section lessons will be added after the first foundational chapters are in place.