相对于2019年，各科目的考试比重未发生变化；考纲内容上，除了经济学、权益投资、其他类投资无变化，其他部分细节调整较多。

　　2020年CFA一级考纲变动内容：

　　除了经济学、权益投资、其他类投资三个科目无变化，其他部分细节调整较多。具体而言：

　　1.伦理道德与专业准则部分：

　　√Reading 1.Ethics And Trust In The Investment Profession中：

　　新增考纲：c.describe professions and how they establish trust;

　　取消了对framework for ethical decision making的应用（apply）要求。

　　2.数量方法部分：

　　√删除整个Reading.Discounted Cash Flow Applications

　　√Reading 7.Statistical Concepts and Market Returns中，2020年相比2019年考纲取消了对夏普比率（Sharpe ratio）的计算和解释要求。

　　√Reading 11.Hypothesis Testing中，新增考纲：k.formulate a test of the hypothesis that the population correlation coefficient equals zero and determine whether the hypothesis is rejected at a given level of significance;

　　√原Reading 13.Technical Analysis整体移动到组合管理（Portfolio Management）部分。

　　3.公司财报分析部分：

　　√Reading 20.Financial Reporting Standards中：

　　删除4条考纲要求

　　取消财报准则设置机构的描述、对国际证监会组织的角色描述、财报的目标描述、财报的前提准备等要求。

　　√Reading 21.Understanding Income Statements中，删除原考纲要求：

　　b.accrual accounting,specific revenue recognition applications（including accounting for long-term contracts,installment sales,barter transactions,gross and net reporting of revenue），and implications of revenue recognition principles for financial analysis;

　　d.describe key aspects of the converged accounting standards for revenue recognition issued by the International Accounting Standards Board and Financial Accounting Standards Board in May 2014;

　　√Reading 26.Long-lived Assets中，删除原考纲要求：

　　o.explain and evaluate how leasing rather than purchasing assets affects financial statements and ratios;

　　p.explain and evaluate how finance leases and operating leases affect financial statements and ratios from the perspective of both the lessor and the lessee.

　　√Reading 30.Non-current（Long-term）Liabilities中，删除原考纲要求：

　　h.determine the initial recognition,initial measurement,and subsequent measurement of finance leases;

　　i.compare the disclosures relating to finance and operating leases;

　　4.公司金融部分：

　　√Reading 32.Capital Budgeting，新增考纲：f contrast the NPV decision rule to the IRR decision rule and identify problems associated with the IRR rule;

　　5.固定收益投资部分：

　　√Reading 44.Introduction to Fixed-Income Valuation中，新增考纲：f calculate annual yield on a bond for varying compounding periods in a year;

　　6.衍生工具部分：

　　√Reading 48.Derivative Markets and Instruments中，新增考纲d determine the value at expiration and profit from a long or a short position in a call or put option;

　　√Reading 49.Basics of Derivative Pricing and Valuation中，

　　新增考纲c.calculate a forward price of an asset with zero,positive,or negative net cost of carry;

　　删除原考纲i.explain how the value of a European option is determined at expiration;

　　7.投资组合部分整体移动到其他类投资之后：

　　√Reading 51.Portfolio Management:An Overview中，新增考纲：b describe the steps in the portfolio management process;

　　√Reading 52.Portfolio Risk and Return:Part I中，新增考纲：b.compare the money-weighted and time-weighted rates of return and evaluate the performance of portfolios based on these measures

　　√Reading 54.Basics of Portfolio Planning and Construction中，新增考纲：h describe how environmental,social,and governance（ESG）considerations may be integrated into portfolio planning and construction.