很多備考CFA考試的同學不知道復習的進度如何了,有很多人咨詢CFA考試難度怎么過?CFA十個科目怎么學習這樣的問題。其實可以理解,畢竟CFA考試注冊報名費用這么貴,一次性通過CFA每級考試十分有必要。
下面高頓CFA老師總結CFA十個科目怎么學的相關回答。
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CFA考試一共分為10個科目,這10門科目可分為三個框架,分別是:基礎框架、財務主導的框架、金融工具框架。其中基礎框架涵蓋有:道德與職業(yè)行為標準(Ethics and Professional Standards)、定量分析(Quantitative)以及經(jīng)濟學(Economics)。財務主導的框架包含:財務報表分析(Financial Statement Analysis)、公司理財(Corporate Finance)、權益投資(Equity Investments)。金融工具框架則由固定收益投資(Fixed Income)、衍生工具(Derivatives)、其他類投資(Alternative Investments)以及投資組合管理(Portfolio Management)部分組成。
以下為詳細的章節(jié)內(nèi)容
I.Ethical and Professional Standards(倫理和職業(yè)標準)
A.Professional Standards of Practice
B.Ethical Practices
II.Quantitative Methods(定量方法)
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(經(jīng)濟學)
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(財務報告與分析)
A.Financial Reporting System(with an emphasis on IFRS)
B.Analysis of Principal Financial Statements
C.Financial Reporting Quality
D.Analysis of Inventories and Long-Lived Assets
E.Analysis of Taxes
F.Analysis of Debt
G.Analysis of Off-Balance-Sheet Assets and Liabilities
H.Analysis of Pensions,Stock Compensation,and Other Employee Benefits
I.Analysis of Inter-Corporate Investments
J.Analysis of Business Combinations
K.Analysis of Global Operations
L.Ratio and Financial Analysis
V.Corporate Finance(企業(yè)融資)
A.Corporate Governance
B.Dividend Policy
C.Capital Investment Decisions
D.Business and Financial Risk
E.Capital Structure Decisions
F.Working Capital Management
G.Mergers and Acquisitions and Corporate Restructuring
VI.Equity Investments(股權投資)
A.Types of Equity Securities and Their Characteristics
B.Equity Markets:Characteristics and Institutions
C.Equity Portfolio Benchmarks
D.Valuation of Individual Equity Securities
E.Fundamental Analysis(Sector,Industry,Company)
F.Equity Market Valuation and Return Analysis
G.Closely Held Companies and Inactively Traded Securities
H.Equity Portfolio Management Strategies
VII.Fixed Income(固定收益產(chǎn)品)
A.Types of Fixed-Income Securities and Their Characteristics
B.Fixed-Income Markets:Characteristics&Institutions
C.Fixed Income Portfolio Benchmarks
D.Fixed-Income Valuation(Sector,Industry,Company)and Return Analysis
E.Term Structure Determination and Yield Spreads
F.Analysis of Interest Rate Risk
G.Analysis of Credit Risk
H.Valuing Bonds with Embedded Options
I.Structured Products
J.Fixed-Income Portfolio Management Strategies
VIII.Derivatives(衍生產(chǎn)品)
A.Types of Derivative Instruments and Their Characteristics
B.Forward Markets and Valuation of Forward Contracts
C.Futures Markets and Valuation of Futures Contracts
D.Options Markets and Valuation of Option Contracts
E.Swaps Markets and Valuation of Swap Contracts
F.Credit Derivatives Markets and Instruments
G.Uses of Derivatives in Portfolio Management
IX.Alternative Investments(另類投資)
A.Types of Alternative Investments and Their Characteristics
B.Real Estate Valuation
C.Private Equity/Venture Capital Valuation
D.Hedge Fund Strategies
E.Distressed Securities/Bankruptcies
F.Commodities and Managed Futures
G.Alternative Investment Management Strategies
G.Collectibles
X.Portfolio Management and Wealth Planning(投資組合管理和財富規(guī)劃)
A.The Investment Policy Statement
B.Modern Portfolio Management Concepts
C.Behavioral Finance
D.Management of Individual/Family Investor Portfolios
E.Management of Institutional Investor Portfolios
F.Investment Manager Selection
G.Economic Analysis and Setting Capital Market Expe
ctations
H.Tax Efficiency Strategies
I.Asset Allocation
J.Portfolio Construction and Revision
K.Risk Management
L.Execution of Portfolio Decisions(Trading)
M.Performance Evaluation
N.Presentation of Performance Results
CFA一共有三級,一級基本是金融的基礎知識,難點在于覆蓋的點非常廣泛,基本涵蓋了你能想到的所有經(jīng)濟金融的方方面面。二級就會開始有些側重和深度,三級基本偏重應用了。三級全部考完后,你還并不是
注冊金融分析師,這時你還只是candidate,還需要給CFA管理委員會提交申請,他們會結合你的實際工作經(jīng)驗決定是否頒給你最終的證書,這個也就是chartered的含義。
可能還會有很多人咨詢CFA科目具體的備考事宜,其實就CFA考試來說,不同級別的考試備考差異還是挺大的,這里以CFA二級備考為例提供一份考試經(jīng)驗供參考。
1、明確動力和目標。
決定考試前,必須想清楚自己考試的目的和意義,這很重要,因為它關系到你今后將會以什么心態(tài)去備考。生活中,我經(jīng)常會看到有些同學在備考過程中問:考CFA到底對我今后就業(yè)轉行有沒有幫助?這類的問題。對于這些問題,我個人看法是,這些問題應該是在你決定開始考證前就應做好的盡調(diào),而不是在考試途中反復考慮的問題。
開始備考之前,你必須想清楚自己考證是為了什么,你可以是為了系統(tǒng)學習金融知識,也可以是為了豐富業(yè)余生活,甚至可以是為了讓自己的名片多一個title,這都ok。
但你一定要明確自己做這件事的目的。如果對自己的目標不明確,很容易產(chǎn)生厭學、棄學的心理。
2、制定復習計劃。
以我自己為例,我給自己自己的CFA二級備考定的計劃分為三個階段:
第一階段,通讀notes,并完成首輪知識點的總結,做題??颇宽樞蛲耆梢砸蛉硕悾业捻樞蚴前训赖潞蛿?shù)量放在前面,因為比較重要,后面復習的時候,還要再強調(diào)一下這兩個科目。第二階段,主要借助高頓講義、筆記、高頓的課程進行第二輪復習。
第三階段,刷題。
3、執(zhí)行計劃。
具體而言,將復習計劃明確切分到每月、周、日,設定階段性目標。CFA考試共有10個科目,自己大概有4個月的復習時間,也就是16周,平均每個科目學一周就可以了,剩下6周的時間就是沖刺。我的執(zhí)行要求為:工作日每晚學習兩個小時,周末兩天每天6個小時的學習時間保證,這樣比較輕松。
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