CFA考生注意：2021年與2020年CFA考綱相同，下面我們一起來(lái)看看2020、2021年CFA一級(jí)考綱與19年考綱對(duì)比情況。
相較2019年，每個(gè)級(jí)別都有不小的調(diào)整。高頓CFA研究院專業(yè)的師資團(tuán)隊(duì)傾力，為你解讀考綱變化，令你及時(shí)樹(shù)立備考風(fēng)向標(biāo)，把握考試動(dòng)態(tài)，不做無(wú)用功?。ㄐ璨榭?020年CFA二級(jí)考綱請(qǐng)移步：2020年CFA二級(jí)考綱與19年對(duì)比）
在CFA一級(jí)考綱連續(xù)多年發(fā)生較大變化后，相較于2019年，2020、2021年CFA一級(jí)考綱整體變化幅度較小，實(shí)質(zhì)改變較少但細(xì)節(jié)調(diào)整較多。
首先，相較于2019年，各科目的考試比重未發(fā)生變化。
 
其次，考綱內(nèi)容上，除了經(jīng)濟(jì)學(xué)（Economics）、權(quán)益投資（Equity Investment）、其他類投資（Alternative Investments）無(wú)變化，其他部分細(xì)節(jié)調(diào)整較多。具體而言：
1.倫理道德與專業(yè)準(zhǔn)則（Ethical and Professional Standards）部分：
★Reading 1.Ethics And Trust In The Investment Profession中：
√新增考綱：c.describe professions and how they establish trust;
√取消了對(duì)framework for ethical decision making的應(yīng)用（apply）要求。
2.數(shù)量方法（Quantitative Methods）部分：
★刪除整個(gè)Reading.Discounted Cash Flow Applications
★Reading 7.Statistical Concepts and Market Returns中，2020相比2019年考綱取消了對(duì)夏普比率（Sharpe ratio）的計(jì)算和解釋要求。
★Reading 11.Hypothesis Testing中，新增考綱：k.formulate a test of the hypothesis that the population correlation coefficient equals zero and determine whether the hypothesis is rejected at a given level of significance;
★原Reading 13.Technical Analysis整體移動(dòng)到組合管理（Portfolio Management）部分。
3.公司財(cái)報(bào)分析（Financial Reporting Analysis）
★Reading 20.Financial Reporting Standards中：
√刪除4條考綱要求，分別為：
1.c.describe the status of global convergence of accounting standards and ongoing barriers to developing one universally accepted set of financial reporting standards;
2.f.compare key concepts of financial reporting standards under IFRS and US generally accepted accounting principles(US GAAP)reporting systems;
3.g.identify characteristics of a coherent financial reporting framework and the barriers to creating such a framework;
4.i.analyze company disclosures of significant accounting policies.
√取消財(cái)報(bào)準(zhǔn)則設(shè)置機(jī)構(gòu)的描述、對(duì)國(guó)際證監(jiān)會(huì)組織的角色描述、財(cái)報(bào)的目標(biāo)描述、財(cái)報(bào)的前提準(zhǔn)備等要求。
★Reading 21.Understanding Income Statements中，刪除原考綱要求：
√b.accrual accounting,specific revenue recognition applications(including accounting for long-term contracts,installment sales,barter transactions,gross and net reporting of revenue),and implications of revenue recognition principles for financial analysis;
√d.describe key aspects of the converged accounting standards for revenue recognition issued by the International Accounting Standards Board and Financial Accounting Standards Board in May 2014;
★Reading 26.Long-lived Assets中，刪除原考綱要求：
√o.explain and *uate how leasing rather than purchasing assets affects financial statements and ratios;
√p.explain and *uate how finance leases and operating leases affect financial statements and ratios from the perspective of both the lessor and the lessee.
★Reading 30.Non-current(Long-term)Liabilities中，刪除原考綱要求：
√h.determine the initial recognition,initial measurement,and subsequent measurement of finance leases;
√i.compare the disclosures relating to finance and operating leases;
4.公司金融（Corporate Finance）部分：
★Reading 32.Capital Budgeting，新增考綱：f contrast the NPV decision rule to the IRR decision rule and identify problems associated with the IRR rule;
5.固定收益投資（Fixed income）部分：
★Reading 44.Introduction to Fixed-Income Valuation中，新增考綱：f calculate annual yield on a bond for varying compounding periods in a year;
6.衍生工具（Derivatives）部分：
★Reading 48.Derivative Markets and Instruments中，新增考綱d determine the value at expiration and profit from a long or a short position in a call or put option;
★Reading 49.Basics of Derivative Pricing and Valuation中，
√新增考綱c.calculate a forward price of an asset with zero,positive,or negative net cost of carry;
√刪除原考綱i.explain how the value of a European option is determined at expiration;
7.投資組合（Portfolio Management）部分整體移動(dòng)到其他類投資之后：
★Reading 51.Portfolio Management:An Overview中，新增考綱：b describe the steps in the portfolio management process;
★Reading 52.Portfolio Risk and Return:Part I中，新增考綱：b.compare the money-weighted and time-weighted rates of return and *uate the performance of portfolios based on these measures
★Reading 54.Basics of Portfolio Planning and Construction中，新增考綱：h describe how environmental,social,and governance(ESG)considerations may be integrated into portfolio planning and construction.
相關(guān)閱讀：2020年CFA二級(jí)考綱與19年對(duì)比
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