眾所周知，CFA認(rèn)證考試考綱每年都會有所變動。因CFA考試難度之大，所以對應(yīng)CFA考綱來復(fù)習(xí)通過CFA考試就變得極為必要了。下面我們來看看2017CFA二級考綱變動情況
 
　　1、經(jīng)濟學(xué)
 
　　無變化
 
　　2、財務(wù)報表分析
 
　　原2016年Reading 16刪除
 
　　Inventories:Implications for Financial Statements and Ratios原2016年Reading 17刪除
 
　　Long-lived Assets:Implications for Financial Statements and Ratios
 
　　3、股權(quán)投資
 
　　原2016年Reading 31刪除
 
　　The Five Competitive Forces That Shape Strategy原2016年Reading 32刪除
 
　　Your Strategy Needs a Strategy
 
　　4、另類投資
 
　　原2016年Reading 42改變
 
　　從2016 A Primer on Commodity Investing
 
　　改變?yōu)?017 Commodities and Commodity Derivatives:An Introduction
 
　　以下為2017年新內(nèi)容
 
　　A.compare characteristics of commodity sectors;B.compare the life cycle of commodity sectors from production through trading or consumption;C.contrast the valuation of commodities with the valuation of equities and bonds;D.describe types of participants in commodity futures markets;E.analyze the relationship between spot prices and expected future prices in markets in contango and markets in backwardation;F.compare theories of commodity futures returns;G.describe,calculate,and interpret the components of total return for a fully collateralized commodity futures contract;H.contrast roll return in markets in contango and markets in backwardation;I.describe how commodity swaps are used to obtain or modify exposure to commodities;J.describe how the construction of commodity indexes affects index returns.
 
　　5、投資組合
 
　　新增2017年
 
　　Measuring and Managing Market Risk
 
　　Algorithmic trading and high-frequency trading以下為2017年新內(nèi)容
 
　　Measuring and Managing Market Risk
 
　　A.explain the use of value at risk(VaR)in measuring portfolio risk;B.compare the parametric(variance-covariance),historical simulation,and Monte Carlo simulation methods for estimating VaR;C.estimate and interpret VaR under the parametric,historical simulation,and Monte Carlo simulation methods;D.describe advantages and limitations of VaR;E.describe extensions of VaR;
 
　　F.describe sensitivity risk measures and scenario risk measures and compare these measures to VaR;G.demonstrate how equity,fixed-income,and options exposure measures may be used in measuring and managing market risk and volatility risk;H.describe the use of sensitivity risk measures and scenario risk measures;I.describe advantages and limitations of sensitivity risk measures and scenario risk measures;J.describe risk measures used by banks,asset managers,pension funds,and insurers;K.explain constraints used in managing market risks,including risk budgeting,position limits,scenario limits,and stop-loss limits;L.explain how risk measures may be used in capital allocation decisions.
 
　　Algorithmic trading and high-frequency tradingA.define algorithmic trading;
 
　　B.distinguish between execution algorithms and high-frequency trading algorithms;C.describe types of execution algorithms and high-frequency trading algorithms;D.describe market fragmentation and its effects on how trades are placed;E.describe the use of technology in risk management and regulatory oversight;F.describe issues and concerns related to the impact of algorithmic and high-frequency trading on securities markets.
 
　　6、道德
 
　　無變化
 
　　7、量化分析
 
　　無變化
 
　　8、公司金融
 
　　無變化
 
　　9、固定收益
 
　　新增：
 
　　READING 39.CREDIT DEFAULT SWAPS
 
　　The candidate should be able to:
 
　　a describe credit default swaps(CDS),single-name and index CDS,and the parameters that define a given CDS product;b describe credit events and settlement protocols with respect to CDS;c explain the principles underlying,and factors that influence,the market’s pricing of CDS;d describe the use of CDS to manage credit exposures and to express views regarding changes in shape and/or level of the credit curve;e describe the use of CDS to take advantage of valuation disparities among separate markets,such as bonds,loans,equities,and equity-linked instruments.
 
　　10、衍生品
 
　　結(jié)構(gòu)雖然有大的調(diào)整，但是核心知識點并未改變，見下面黃色字體標(biāo)注關(guān)鍵變動：
 
　　1.CDS刪除，實際移動到固定收益
 
　　2.2016年CFA考試大綱提及到的Eurodollar Future,cap and floor,contango and backwardation,FRA，2017年CFA考試大綱中并未重點提到。點擊:2016-2017CFA最完整資料下載(資料包含CFA必考點總結(jié),提升備考效率,加分必備).
　　Three Levels
 
　　The course of study is organized into three levels and each level requires passing a six-hour exam.The program curriculum increases in complexity as you move through the three levels:
 
　　Level I:Focuses on a basic knowledge of the ten topic areas and simple analysis using investment tools
 
　　Level II:Emphasizes the application of investment tools and concepts with a focus on the valuation of all types of assets
 
　　Level III:Focuses on synthesizing all of the concepts and analytical methods in a variety of applications for effective portfolio management and wealth planning
 
　　CFA考試
 
　　CFA課程大體上分為三個層次，每個層次都要通過六個小時的考試。隨著你一個個通過三個層次時，課程的復(fù)雜性也隨之增加：
 
　　CFA一級：重點關(guān)注十個主題領(lǐng)域的基本知識，并使用投資工具進行簡單分析
 
　　CFA二級：強調(diào)投資工具和概念的應(yīng)用，重點是所有類型資產(chǎn)的估值
 
　　CFA三級：重點綜合各種應(yīng)用中的所有概念和分析方法，進行有效的投資組合管理和財富規(guī)劃