Arithmetic mean
Level I
The sum of the observations divided by the number of observations.
CFA RESOURCE
CFA Glossary of Terms and Formulas
Use this glossary to search CFA terms, formulas, and finance concepts while you study. Browse alphabetically, search for a specific term, or review short definitions across the CFA Program.
This page is built for candidates preparing for CFA Level I, Level II, or Level III.
Search by CFA Level
Search by specific terms
Arms index
Level I
A flow of funds indicator applied to a broad stock market index to measure the relative extent to which money is moving into or out of rising and declining stocks.
Asian call option
Level I
A European-style option with a value at maturity equal to the difference between the stock price at maturity and the average stock price during the life of the option, or $0, whichever is greater.
Ask
Level I
The price at which a dealer or trader is willing to sell an asset, typically qualified by a maximum quantity (ask size). See offer.
Ask size
Level I
The maximum quantity of an asset that pertains to a specific ask price from a trader. For example, if the ask for a share issue is $30 for a size of 1,000 shares, the trader is offering to sell at $30 up to 1,000 shares.
COMMON QUESTIONS
FAQs About KeyPoint Learning's CFA Glossary
What is a CFA glossary?
A CFA glossary is a reference list of terms, formulas, and finance concepts that appear across the CFA Program. It helps candidates review key ideas while studying for Level I, Level II, or Level III.
CFA Glossary
Does this glossary cover CFA Level I, Level II, and Level III?
This glossary is designed to support candidates across the CFA Program. Where level information is available, terms can be labeled by CFA Level I, Level II, or Level III.
CFA Glossary
Does this glossary include CFA formulas?
Yes, formula-related terms may be included in the glossary. For a more focused formula review, use the CFA Formula Sheet resource.
CFA Glossary
Should I memorize every CFA term?
No. It is better to understand important terms in context than to memorize every definition by itself. Focus on how each concept works, where it appears in the curriculum, and how it may be tested.
CFA Glossary
Where can I find more CFA study resources?
You can explore KeyPoint Learning’s CFA resources for study planning, calculator guidance, formulas, GIPS Standards, and CFA Program information.
CFA Glossary
KEEP BUILDING YOUR UNDERSTANDING
Explore More CFA Resources
Definitions are useful when you need a quick review. But CFA prep also requires structure, practice, and a clear plan for your exam window.
Use these resources to keep studying: