Tuesday, March 20, 2012

CBOK: Candidate Body of Knowledge - Outline of Topics + Some info about the CFA Institute & CFA Designation.

The CFA Program
The Chartered Financial Analyst (CFA) designation is a mark of distinction that is globally recognized by employers, investment professionals, and investors as the definitive standard by which to measure serious investment professionals.

The CFA Program reflects a broad Candidate Body of Knowledge™ (CBOK) developed and continuously updated by active practitioners in countries around the world to ensure that charterholders possess knowledge grounded in the real world of today’s global investment industry.

Learn more about the CFA charter, the CFA Program, and current charterholders (PDF).

Review the CFA Program enrollment and exam registration deadlines, view the CFA exam fee schedule, and get started.

How to become a charterholder

Value for Your Career
The CFA Program equips you with the practical and fundamental knowledge you need for a wide variety of career choices in the investment profession. Completing the program confirms your mastery of the rigorous CFA curriculum and your success in passing all three exam levels. How can the CFA Program benefit your career?

Value for Employers
Employers cite the extensive knowledge charterholders possess in investment topics outside their own specializations as one of the primary reasons for hiring them. Employers can post jobs and gain access to this highly qualified, exclusive group of investment professionals through our job board. Why hire a charterholder

From the link: http://www.cfainstitute.org/cfaprogram/courseofstudy/curriculum/Pages/cbok.aspx

I. Ethical and Professional Standards

A. Professional Standards of Practice
B. Ethical Practices

II. Quantitative Methods

A. Time Value of Money
B. Probability
C. Probability Distributions and Descriptive Statistics
D. Sampling and Estimation
E. Hypothesis Testing
F. Correlation Analysis and Regression
G. Time Series Analysis
H. Simulation Analysis
I. Technical Analysis

III. Economics

A. Market Forces of Supply and Demand
B. The Firm and Industry Organization
C. Measuring National Income and Growth
D. Business Cycles
E. The Monetary System
F. Inflation
G. International Trade and Capital Flows
H. Currency Exchange Rates
I. Monetary and Fiscal Policy
J. Economic Growth and Development
K. Effects of Government Regulation
L. Impact of Economic Factors on Investment Markets

IV. Financial Reporting and Analysis

A. Financial Reporting System (IFRS and GAAP)
B. Principal Financial Statements
C. Financial Reporting Quality
D. Analysis of Inventories
E. Analysis of Long-Lived Assets
F. Analysis of Taxes
G. Analysis of Debt
H. Analysis of Off-Balance-Sheet Assets and Liabilities
I. Analysis of Pensions, Stock Compensation, and Other Employee Benefits
J. Analysis of Inter-Corporate Investments
K. Analysis of Business Combinations
L. Analysis of Global Operations
M. Ratio and Financial Analysis

V. Corporate Finance

A. Corporate Governance
B. Dividend Policy
C. Capital Investment Decisions
D. Business and Financial Risk
E. Long-Term Financial Policy
F. Short-Term Financial Policy
G. Mergers and Acquisitions and Corporate Restructuring

VI. Equity Investments

A. Types of Equity Securities and Their Characteristics
B. Equity Markets: Characteristics, Institutions, and Benchmarks
C. Fundamental Analysis (Sector, Industry, Company) and the Valuation of Individual Equity Securities
D. Equity Market Valuation and Return Analysis
E. Special Applications of Fundamental Analysis (Residual Earnings)
F. Equity of Hybrid Investment Vehicles

VII. Fixed Income

A. Types of Fixed-Income Securities and Their Characteristics
B. Fixed-Income Markets: Characteristics, Institutions, and Benchmarks
C. Fixed-Income Valuation (Sector, Industry, Company) and Return Analysis
D. Term Structure Determination and Yield Spreads
E. Analysis of Interest Rate Risk
F. Analysis of Credit Risk
G. Valuing Bonds with Embedded Options
H. Structured Products

VIII. Derivatives

A. Types of Derivative Instruments and Their Characteristics
B. Forward Markets and Instruments
C. Futures Markets and Instruments
D. Options Markets and Instruments
E. Swaps Markets and Instruments
F. Credit Derivatives Markets and Instruments

IX. Alternative Investments

A. Types of Alternative Investments and Their Characteristics
B. Real Estate
C. Private Equity/Venture Capital
D. Hedge Funds
E. Closely Held Companies and Inactively Traded Securities
F. Distressed Securities/Bankruptcies
G. Commodities
H. Tangible Assets with Low Liquidity

X. Portfolio Management and Wealth Planning

A. Portfolio Concepts
B. Management of Individual/Family Investor Portfolios
C. Management of Institutional Investor Portfolios
D. Pension Plans and Employee Benefit Funds
E. Investment Manager Selection
F. Other Institutional Investors
G. Mutual Funds, Pooled Funds, and ETFs
H. Economic Analysis and Setting Capital Market Expectations
I. Tax Efficiency
J. Asset Allocation (including Currency Overlay)
K. Portfolio Construction and Revision
L. Equity Portfolio Management Strategies
M. Fixed-Income Portfolio Management Strategies
N. Alternative Investments Management Strategies
O. Risk Management
P. Execution of Portfolio Decisions (Trading)
Q. Performance Evaluation
R. Presentation of Performance Results

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