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[全球首发]CFA最新考纲LOS分析报告

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《-CFA一、二、三级考纲LOS对照表》免费索取,请点击》》》CFA一级考纲LOS变化对比(-)相对于的CFA一级的考纲LOS,CFA一级的考点变化还是比较大的一方面,各科目的考试比重发生了某些变化:公司金融(Corporate Finance)从8%降到7%,固定收益投资(Fixed Income)从12%降到10%,投资组合(Portfolio Management)从5%升到7%,其她类投资(Alternative Investments)从3%升到4%具体到每一种科目,也有很大的变化,特别是衍生品这一部分内容,整个框架都发生了变化1. 伦理道德与专业准则(Ethical and Professional Standards)考纲内容与相比基本没有变化,但是Handbook由第10版本更新为第11版本,其中IV(C) Responsibility of supervisor这一条款变动较大2. 数量措施(Quantitative Methods)、公司金融(Corporate Finance)、权益投资(Equity)、投资组合(Portfolio Management)、其她类投资(Alternative Investments)考纲内容与相比基本没有变化3. 经济学(economics)增长了三个考点,具体内容没有发生变化,增长了考察内容,不会产生较大影响。

4. 财务报表分析(FSA)reading 26删除一种考点,删除对分析资产负债表和权益变动表的规定,section 10中删除了reading 34, reading 33财务报表质量部分考纲内容变化很大Reading 33: Financial Reporting Quality: Red Flags and Accounting Warning Signsa. describe incentives that might induce a company’s management to overreport or underreport earnings;b. describe activities that will result in a low quality of earnings;c. describe the three conditions that are generally present when fraud occurs, including the risk factors related to these conditions;d. describe common accounting warning signs and methods for detecting each.Reading 33: Financial Reporting Qualitya. distinguish between financial reporting quality and quality of reported results (including quality of earnings, cash flow, and balance sheet items);b. describe a spectrum for assessing financial reporting quality;c. distinguish between conservative and aggressive accounting;d. describe motivations that might cause management to issue financial reports that are not high quality;e. describe conditions that are conducive to issuing low-quality, or even fraudulent, financial reports;f. describe mechanisms that discipline financial reporting quality and the potential limitations of those mechanisms;g. describe presentation choices, including non-GAAP measures, that could be used to influence an analyst’s opinion;h. describe accounting methods (choices and estimates) that could be used to manage earnings, cash flow, and balance sheet items;i. describe accounting warning signs and methods for detecting manipulation of information in financial reports.5. 固定收益投资(Fixed Income)新增了reading 54资产支持型证券的简介( INTRODUCTION TO ASSET-BACKED SECURITIES),reading 55新增一种考点,增长了key rate duration的定义和应用。

6. 衍生工具(Derivatives)整个考纲内容发生了变化,考点减少删除了考纲中reading 58—reading 61有关远期,期货,期权,互换(forward, futures, options, swaps)的简介,新增长reading 58衍生品定价估值基本l Study session 17 Derivativesl Reading 57: Derivative Markets and Instrumentsl Reading 58: Forward Markets and Contractsl Reading 59: Futures Markets and Contractsl Reading 60: Option Markets and Contractsl Reading 61: Swap Markets and Contractsl Reading 62: Risk Management Applications of Option Strategiesl Study session 17 Derivativesl Reading 57: Derivative Markets and Instrumentsl Reading 58: Basics of Derivative Pricing and Valuationl Reading 59: Risk Management Applications of Option Strategies《-CFA一、二、三级考纲LOS对照表》免费索取,请点击》》》CFA二级考纲LOS变化对比(-)相对于的官方教材,CFA二级的考纲总体来说还是有较大的变化,有多种Study Session发生了内容的调节。

变化较大的科目依次为:fixed income, financial reporting analysis,和ethical and professional standards每一种科目的状况具体如下:l 伦理与职业原则(Ethical and Professional Standards)删除了两个reading分别是study session 1中的reading 3(CFA Institute Soft Dollar Standards)和study session 2中的reading 10(Prudence in Perspective)这个调节还是有点出乎意料的,往年软美元原则是常考知识点但是,删掉软美元原则不意味着之后不考了,毕竟在道德准则三-duties to clients中仍然保存有关规定l 数量措施(Quantitative methods)没有变化;l 经济学(Economic)没有变化;l 财务报表分析(Financial Reporting Analysis)删除了study session 7中的reading 22(The Lessons We Learn)。

Reading 23(Evaluating Financial Reporting Quality)改为reading 20(Evaluating Quality of Financial Reports),该reading不仅内容变化较大,考点也由此前6个增长到13个l 公司金融(Corporate finance)新增了一种reading25(Corporate Performance, Governance, and Business Ethics);l 权益投资(Equity Investments)没有变化;l 其她类投资(Alternative Investments)删除了reading43(investing in hedge funds: A survey)l 固定收益投资(Fixed Income Investments)变化很大,固定收益部分变化最大新考纲中删除3个章节增长2个章节(且把R. 45 CREDIT ANALYSIS MODELS由 SS14 放入到SS15),现共有5个章节新增部分为:R. 43 THE ARBITRAGE-FREE VALUATION FRAMEWORK 和R. 46 INTRODUCTION TO ASSET-BACKED SECURITIES。

删除部分为:原考纲中的R. 48 MORTGAGE-BACKED SECTOR OF THE BOND MARKET ,R. 49 ASSET-BACKED SECTOR OF THE BOND MARKET和R. 50 VALUING MORTGAGE-BACKED AND ASSET-BACKED SECURITIES固定收益既有的5个章节是:R42 The Term Structure and Interest Rate Dynamics,R43 The Arbitrage-Free Valuation Framework,R44 Valuation and Analysis: Bonds with Embedded Options,R45 Credit Analysis Models,R46 Introduction to Asset-Backed Securities固定收益的参照书目也发生了变化,SS14 R42. THE TERM STRUCTURE AND INTEREST RATE DYNAMICS,参照书为Fixed Income Analysis for the Chartered Financial Analyst Program, Second Edition, by Frank J. Fabozzi, CFA,新版本改为by Thomas S.Y. Ho, Sang Bin Lee, and Stephen E. Wilcox, CFA。

SS14 R44. VALUATION AND ANALYSIS: BONDS WITH EMBEDDED OPTIONS,参照书为Fixed Income Analysis for the Chartered Financi。

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