CFA涓绾15澶╁插洪圭硅瑙

2017骞12CFA涓绾ц璇璺绂绘浠16澶╋姝ゅ绘堕翠藉挨涓洪瑕锛瀵逛绉瑰涔灏ゅ堕瑕涓㈡辰绋风℃ヤ缁涓涓圭硅瑙ｏ涓繁芥浜

1FinancialReportingAnalysis锛璐㈠℃ヨ〃锛

杩澶存FinancialReportingAnalysis锛璐㈠℃ヨ〃锛CFA涓绾ц璇涓姣涓20%锛璇剧涓楂涓ㄨ锛浠ヨ锛杩ㄥ瀹瑰椤诲璧锋浠楂搴瑙锛芥抽寰ㄦ涓

璐㈡ュㄦ翠釜CFA璇剧ヨ浣绯讳甯搁瑕浣澶璇剧虹琛涓绾ц储ョラ逛富瑕浜虹璐㈠℃ヨ〃浼璁″瑙ｏ寰涓娣变ラ㈤甯稿箍锛瑕姹瀵逛浼璁＄ヨ硅藉版妤杈ㄦ瑙ｃ

CFA涓绾ц璇涓储℃ヨ〃辨4涓Session锛Session7璁猴Session8浜寮ヨ〃瑙ｈ锛session9浜浜澶浼璁＄浠缁锛Session10储ヨ川搴ㄣ杩涓Session涓浠ヤ13涓Reading

浠璇瑕搴ョ锛Session8&9锛朵腑Reading25-32锛瑕锛浜缁澶чㄥ

浠ヤReading25-Reading32涓瑕圭荤锛寤鸿浠ㄩㄦ锛

Reading25:UnderstandingIncomeStatements锛瑙ｅ╂鼎琛

?杈ㄦsingle-stepmultiple-step煎╂鼎琛

?杈ㄦUnusualorinfrequentitems锛Extraordinaryitems浠ュDiscontinuedoperations锛

?璁＄挎跺ワ璐圭ㄤ互╂鼎

?杈ㄦgross浠ュnetrevenue纭

?璁＄BasicEPSDilutiveEPS

?璁板朵绫荤患剁锛OCI锛锛骞朵璁＄缁煎剁

Reading26:UnderstandingBalanceSheets锛瑙ｈ浜ц鸿〃锛

?ClassifiedB/Sュ煎璁板蜂绉绉板锛

?杈ㄦ涓绫诲measurementbase瀵逛B/S褰卞锛

?涓绫诲璧浜у浣琚B/S锛浠ュ舵濡浣褰卞I/S

?commonsize规ュ璧浜ц鸿〃

Reading27:UnderstandingCashFlowStatements锛瑙ｇ娴〃锛

?杈ㄦ娴GAAPIFRS涓绫伙CFO锛CFI锛CFF锛锛

?浣跨ㄧ存娉存娉璁＄缁ユх娴锛

?璁＄璧у璧х娴

?璁＄FCFF浠ュFCFE

Reading28:FinancialAnalysisTechniques锛璐㈠″

?浜瑙5澶х被甯歌璐㈠℃浠ュ朵腑稿锛

?璁＄cashconversioncycle锛

?浜瑙ｆ浣瑙ROE

?浜瑙Valuationratio浣ㄤ＄エ浼板肩

Reading29:Inventories锛瀛璐у锛

?杈ㄦㄧ浜уㄦ涓璐圭ㄥ浠ヨ涓哄璐э借垂ㄥ锛

?浜瑙ｅ绉瀛璐х璁￠规锛硅鲸FIFOLIFO锛

?浜瑙periodicperpetual璁

?璁板LIFO璋FIFO讹ヨ〃瑕璋寸稿虫茶姹

Reading30:Long-livedAssets锛挎璧浜у锛

?璧璐圭ㄥ浼璁″瀵逛浜ц鸿〃锛╂鼎琛ㄤ互娴〃浠ュ稿璐㈠℃褰卞锛

?浜瑙ｅ褰㈣浜э

?3绉ф规璁＄锛

?璁板GAAP&IFRS涓濡浣兼璇浠ュ兼澶辩璁￠

?IFRS涓Revaluationmodel瀵逛艰浆规澶锛

?IFRS涓璧ф垮颁骇Fairvaluemodel涓规澶规

Reading31:IncomeTaxes

?杈ㄦ璐㈠℃ヨ〃绋℃ヨ〃涓寰绋稿崇绫绘锛

?瑙ｉ寤剁浜х规宠储″绋℃ヨ〃绋垂舵у樊寮锛

?璁＄璧浜х璐虹绋哄璐环硷

?浣跨ㄧ哄璐环肩宸璁＄褰寤舵寰绋棰锛

?杈ㄦ甯歌舵у樊寮姘镐у樊寮锛

?瑙valuationallowance浣轰灞涓昏ゆ奖╂鼎

Reading32:Non-current(Long-term)Liabilities锛挎璐哄锛

?杈ㄦ哄稿ㄥ琛杩绋涓浜B/S,I/S,浠ュCFS褰卞锛

?浜瑙ｅ虹搁ㄤ璁℃ヨ〃涓稿澶锛

?杈ㄦ璧х璧缁ユх璧锛

?浜瑙ｈ璧х璧缁ユх璧瀵逛璐㈠¤〃浠ュ璐㈠℃褰卞锛

?浜瑙Salestypelease浠ュDirectfinancinglease瀵逛璐㈠¤〃浠ュ璐㈠℃褰卞锛

?杈ㄦDCplanDBplan

娉界ǚCFA鹃锛蹇澶绁涓涓淇椹炬よ

甯规骞寸棰杩骞撮瑕归剧圭

绮惧3000+癸烘兜璇瑕ヨ

甯ㄩ剧逛逛磋交剧┛姊

杩浣瀹规蹇ヨ广句互璁板纰瀹

12瀛ｆヤ复涔璺璁ゆ璇瑰

CFA涓绾ц璇ㄧ骞撮杩43%

甯绐撮杩锛瓒瓒83%

A瀛寮虹浠骞村浜浣跨

瑰

2Economics锛缁锛

CFA涓绾хEconomics锛缁锛绠涔绉蹇椤绘虹锛涓ㄨ璇涓姣涔杈惧颁10%锛瑕寮璧疯瑰虫敞

CFA涓绾хEconomics3涓study session锛涓9涓reading

朵腑锛Reading 13-15璁茬烘缁锛渚姹崇郴浜х稿崇璁猴杩涓虹姒蹇佃疮绌夸翠釜缁

Reading 16绠姒杩颁寰缁腑娑涓猴浠ュ稿甯轰渚姹崇郴

Reading 17涓昏璁茶В浜浠ュ藉涓哄浣渚姹崇郴锛讳缁婚姹

Reading 18-19绠姒杩颁Business Cycle锛缁ㄦ锛稿崇瑰锛戒骇绀句锛Unemployment锛澶变锛Inflation锛璐цㄨ锛锛浠ュ垮稿跨斤Monetary Policy锛璐у跨锛Fiscal Policy锛璐㈡挎跨锛

Reading 20-21瀵瑰介璐告姹杞㈠浜绠浠缁

浠璇瑕搴ョ锛Reading 15Reading 16Reading 17Reading19瑕锛Reading 14涓瑕锛跺灞涓甯瀵归瑕Reading硅琛浜荤锛浠ヤ瀹瑰缓璁浠ㄩㄦ

Reading 15:Demand and Supply Analysis:The Firm锛璁猴

? Economic profit锛缁╂鼎锛璁＄锛

? Production function锛浜у芥帮Cost curve锛茬嚎锛稿虫蹇碉

? Profit maximization锛╂鼎澶у锛′欢

? Perfect competitive market锛瀹ㄧ浜甯猴涓long-run equilibrium锛挎琛★

short-equilibrium锛琛★

Reading 16:The Firm and Market Structures锛甯虹锛

? 涓虹瑰哄

? Monopolistic competition锛浜锛瑰跨琛★

? Oligopoly锛瀵″ご锛瑰涓ā锛朵腑Kinked-demand model锛寮姹茬嚎妯″锛Nash equilibrium锛绾充琛★瑕

? Monopoly锛瑰跨琛″垮绠°

Reading 17:Aggregate Output,Prices,and Economic Growth 锛讳骇恒浠锋煎缁匡

? GDP涓绉哥瑰

? IS-LMAD-AS妯″姒蹇碉浠ュ浼瀵兼哄讹

? AD-AS妯″涓绉琛★剁瑰垮稿跨斤

? 缁缁跨瑕绱

Reading 19:Monetary and Fiscal Policy锛璐у跨涓储挎跨锛

? Money multiplier锛璐у涔帮璁＄锛

? Monetary policy锛璐у跨锛宸ュ枫浼瀵兼哄躲ゅ灞э

? Fiscal policy锛璐㈡挎跨锛宸ュ枫浼瀵兼哄躲ゅ灞э

? 涓ゆ跨褰卞

3Fixed Income锛哄剁锛

瀵逛CFA涓绾хヨ锛姣涓10%Fixed Income锛哄剁锛绠惧涓楠ㄥご浜杩ㄥ瀹规涔ф剧璇剧涔涓

CFA涓绾хFixed Income2涓study session锛浠52~57涓6涓reading锛朵腑锛Reading 52Reading 54Reading 55璁茬骇涓恒

浠璇瑕搴ョ锛Reading 54Reading 56瑕锛Reading 52Reading 55舵锛Reading 53Reading 57涓瑕

姣釜reading瑕瑰涓锛

Reading 52: Fixed-Income Securities: Defining Elements

? 哄哥浜涓basic features锛

? 哄哥cash flow structure璁捐锛绁ㄦ

? 哄哥宓(embedded option)锛callputconvertible

Reading 53: Fixed-Income Markets: Issuance, Trading, and Funding

? 哄镐绾у猴Primary market锛琛哄讹

? 璐Repo锛瀹涔锛褰卞repo raterepo margin绱

Reading 54: Introduction to Fixed-Income Valuation

? ╃ㄥ涓虫╃杩╃缁哄稿浠风规璁＄锛

? 版剁锛YTM锛璧剁锛YTC锛锛

? 搴璁″╂AI锛浠锋笺ㄤ环硷

? 虫╃锛spot rate锛璺杩╃锛forward rate锛涔寸㈢

Reading 55: Introduction to Asset-Backed Securities

? Mortgage瑰锛

? MBS夸椋╃瀹涔ц川涓　

? CMO灞灞椋╃瑰

Reading 56:Understanding Fixed-Income Risk and Return

? 哄稿ョユ锛╃椋╃绫伙

? 涔(Duration)瀹涔锛绫诲褰卞涔澶у绱锛

? 稿害稿害搴

Reading 57: Fundamentals of Credit Analysis

? 淇＄ㄩ╃4C

4Equity锛璧锛

璧CFA涓绾ц璇涓姣涓10%锛杞伙涓杩绾уㄨ涓杈瀹规璇剧涔涓锛浠ュ苟涓浠よ澶寸笺杩ㄨ圭规ㄦц寮猴稿充缁瑰＄エ浣缁瀛瀛ョ稿姣杈杞绘俱

CFA涓绾хEquity2涓study session锛朵腑涓6涓reading

朵腑锛Reading 46涓昏瀵硅哄绉浜у浜烘缁锛杩ㄥ瀹逛负Fixed Income锛哄剁锛Alternative锛朵绫绘璧锛Derivative锛琛锛浜哄浜瑙ｈ＄エ璧歌绋绫讳浠ゃ

Reading 47涓昏浠缁璇稿烘版浣

Reading 48涓昏浠缁甯虹璁恒

Reading 49瀵规绫昏镐绫诲烘缁

Reading 50涓昏浠缁琛涓绌舵规

Reading 51浠缁＄エ浼板肩涓规

瀵规釜Reading瑕硅琛荤锛寤鸿浠ㄩㄦ浠ヤReading25-Reading32涓瑕圭荤锛寤鸿浠ㄩㄦ

Reading 46:Market Organization and Structure锛甯虹缁缁锛

? Primary market锛涓绾у猴Secondary market锛浜绾у猴浠缁涓绫伙

? Short positions锛绌哄ご澶村锛margin锛淇璇锛浠缁稿宠绠锛

? Order锛浠わ绉绫诲浠缁

Reading 47:Security Market Indices锛璇稿烘帮

? Market Index锛帮寤轰规缂虹癸稿宠绠锛

? Fixed-income indices锛哄告帮绫诲瑰浠缁

Reading 48:Market Efficiency锛甯猴

? Market value锛甯轰环硷intrinsic value锛ㄤ环硷哄

? Market Efficiency锛甯猴3绉绫诲哄杈锛

? Market Anomaly锛甯哄甯革锛

? Behavioral Finance锛琛涓洪锛璧蹇樊涓绫诲

Reading 49:Overview of Equity Securities锛璇告瑕锛

? Equity Securities锛璇革涓绫诲剁瑰锛

? Depository Receipts锛瀛锛锛

? Market value锛甯轰环硷book value锛璐环硷哄

? Return on Equity锛璧浜ф剁锛cost of Equity锛℃哄

Reading 50:Introduction to Industry and Company Analysis锛琛涓烘缁锛

? Porters model锛娉㈢逛妯″锛锛

? Industry Life Cycle锛琛涓藉ㄦ锛涓舵剁瑰锛

? Barriers to entry锛杩ュ锛锛industry concentration锛琛涓涓害锛锛industry capacity锛琛涓寮宸ョ锛锛market share stability锛甯轰唤棰绋冲э绛industry analysis锛琛涓锛瑕绌剁涓归

? Reading 51:Equity Valuation:Concepts and Basic Tools锛浼板硷姒蹇靛烘伐凤

? Equity valuation model锛浼板兼ā锛3绉规浠缁锛稿宠绠浼缂虹广

5Economics锛缁锛

CFA涓绾хEconomics锛缁锛绠涔绉蹇椤绘虹锛涓ㄨ璇涓姣涔杈惧颁10%锛瑕寮璧疯瑰虫敞

CFA涓绾хEconomics3涓study session锛涓9涓reading

朵腑锛Reading 13-15璁茬烘缁锛渚姹崇郴浜х稿崇璁猴杩涓虹姒蹇佃疮绌夸翠釜缁

Reading 16绠姒杩颁寰缁腑娑涓猴浠ュ稿甯轰渚姹崇郴

Reading 17涓昏璁茶В浜浠ュ藉涓哄浣渚姹崇郴锛讳缁婚姹

Reading 18-19绠姒杩颁Business Cycle锛缁ㄦ锛稿崇瑰锛戒骇绀句锛Unemployment锛澶变锛Inflation锛璐цㄨ锛锛浠ュ垮稿跨斤Monetary Policy锛璐у跨锛Fiscal Policy锛璐㈡挎跨锛

Reading 20-21瀵瑰介璐告姹杞㈠浜绠浠缁

浠璇瑕搴ョ锛Reading 15Reading 16Reading 17Reading19瑕锛Reading 14涓瑕锛跺灞涓

瀵归瑕Reading硅琛荤锛浠ヤ瀹瑰缓璁浠ㄩㄦ

Reading 15:Demand and Supply Analysis:The Firm锛璁猴

? Economic profit锛缁╂鼎锛璁＄锛

? Production function锛浜у芥帮Cost curve锛茬嚎锛稿虫蹇碉

? Profit maximization锛╂鼎澶у锛′欢

? Perfect competitive market锛瀹ㄧ浜甯猴涓long-run equilibrium锛挎琛★short-equilibrium锛琛★

Reading 16:The Firm and Market Structures锛甯虹锛

? 涓虹瑰哄

? Monopolistic competition锛浜锛瑰跨琛★

? Oligopoly锛瀵″ご锛瑰涓ā锛朵腑Kinked-demand model锛寮姹茬嚎妯″锛Nash equilibrium锛绾充琛★瑕

? Monopoly锛瑰跨琛″垮绠°

Reading 17:Aggregate Output,Prices,and Economic Growth 锛讳骇恒浠锋煎缁匡

? GDP涓绉哥瑰

? IS-LMAD-AS妯″姒蹇碉浠ュ浼瀵兼哄讹

? AD-AS妯″涓绉琛★剁瑰垮稿跨斤

? 缁缁跨瑕绱

Reading 19:Monetary and Fiscal Policy锛璐у跨涓储挎跨锛

? Money multiplier锛璐у涔帮璁＄锛

? Monetary policy锛璐у跨锛宸ュ枫浼瀵兼哄躲ゅ灞э

? Fiscal policy锛璐㈡挎跨锛宸ュ枫浼瀵兼哄躲ゅ灞э

? 涓ゆ跨褰卞

6Portfolio Management锛璧缁绠＄锛

界惰ㄨ甯搁瑕锛浣浠惧害涓ヨ锛绾т腑瀹规涓ㄨ涔涓锛涔瀹规挎弧涓涓

浠CFA涓绾х瑰甯ョ锛Portfolio Management锛璧缁绠＄锛ㄨ璇涓姣涓7%涓杩锛杩ㄨ浣涓CFA璇剧4澶фā涔涓璐┛浜绾э浜绾э涓绾х瀛涓界跺ㄤ绾т腑姣涓澶э浣画瀛锛舵浼姝ュ锛瑰ㄤ绾т腑锛涓CFA璇剧瑕瑰绘涓涓肩璧缁绠＄

浠璇瑕搴ョ锛Reading 43Reading 44瑕锛Reading 45涓瑕锛跺灞涓

涓㈠瑕Reading硅琛荤锛

Reading 43: Portfolio Risk and Rewards: Part I

? Returnrisk搴规锛

? Risk averse, risk neutral, risk seeking瑰稿indifference curves锛

? 涓や釜risky assets寤虹portfolioreturnrisk璁＄锛

? Minimum-variance FrontierEfficient Frontier圭

? CAL浠缁浠ュ濡浣杩CALEfficient Frontier甯璧璧浜ч缃

Reading 44: Portfolio Risk and Rewards: Part II

? CML浠缁浠ュ濡浣杩CMLEfficient Frontier甯璧璧浜ч缃

? Systematic risk (Beta肩璁＄)unsystematic risk

? CAPM妯″浠缁锛杩ㄥ跺璁撅浠ュSML杩

? Sharpe Ratio, M-square, Treynor Ratio, Jensens alpha杩ㄣ

7Derivatives锛琛锛

寰澶CFA借涓轰绾чDerivatives锛琛锛甯搁撅纰板拌涓灏辫寰澶寸笺濂藉ㄨ涓ㄥㄨ璇涓姣浠涓5%锛涓杩CFA涓绾ц璇琛绉璇浠ュ涓浜璁＄锛浣ㄤ互瀹ч负涓伙瑕姹界瑙ｅ朵腑憋惧害涓锛涓瑕浜х炬缁

CFA涓绾ц璇Derivatives锛琛锛蜂瀹圭ヨ瑰1涓study session锛3涓reading

朵腑锛Reading 57瀵硅甯鸿琛浜哄骞跺4澶х被琛杩琛浜烘涔锛Reading 58璁茶瀹浠峰浼板肩烘锛骞跺4澶х被琛烘浠峰浜浠缁锛Reading 59瀵规浜杩涓姝ュ锛浠缁涓ょ涓ょ绛ョ搴ㄣ

浠璇瑕搴ョ锛Reading 58Reading 59瑕锛Reading 57舵锛朵Reading瑕т澶с

瀵归瑕Reading硅琛浜荤锛浠ヤ瀹瑰缓璁浠ㄩㄦ

Reading 57:Derivative Markets and Instruments锛琛甯哄宸ュ凤

? 琛瀹涔锛

? 琛甯虹绫诲哄;

? 琛绫伙

? 琛浼缂虹广

Reading 58:Basics of Derivative Pricing and Valuation锛琛烘浠峰浼板煎锛

? 琛瀹浠风烘锛

? 哄璐у绾瀹浠蜂互浼板硷

? 绾涓浣璁＄杩浠峰硷浠ュ瑙ｅ奖杩浠峰肩绱锛

? 瑙ｉ璐у杩瀹浠风寮锛

? 瑙ｉ浜㈠杩瀹浠风涓锛

? 娆у浠峰肩璁＄浠ュ褰卞绱锛

? 娆у骞充环杩骞充环互浜妯″瑙ｏ

? 缇涓寮瀹浠风宸

Reading 59:Risk Management Applications of Option Strategies锛椋╃搴绛ワ

? 娑ㄦ璺版浠峰笺╂鼎澶/灏浜浜钩琛＄圭璁＄锛

? Covered callprotective put版浠峰笺╂鼎澶/灏浜浜钩琛＄圭璁＄

浠ヤ癸浣芥濂戒锛璁板惰涓绁澶у涓娆￠杩CFA涓绾ц璇锛