2019CFA三级(18V19)考纲变化分析,详细版!

主页 > CFA考试动态 > 2019CFA三级(18V19)考纲变化分析,详细版!
中国CFA考试网 2018-08-08 13:56

———————————————————————————————————————


  2019年CFA三个级别的考纲,均已经新鲜出炉。相较2018年,每个级别有了不同程度的变更。
 
  继去年CFA协会对三级考纲的资产配置和固定收益相关章节发生了重大变化后,今年又对权益进行了大规模的修订。此外,职业道德、资产配置、固定收益组合管理、交易这四门科目科目的考纲发生改变。
 
  下列科目的考纲无任何变化:
 
  ü行为金融(Behavior Finance, SS4)
 
  ü私人财富管理(Private Wealth Management, SS5-6)
 
  ü机构投资的组合管理(Portfolio Management for Institutional Investors, SS7)
 
  ü经济分析的组合管理应用(Application of Economic Analysis to Portfolio Management, SS8)
 
  ü另类投资的组合管理(Alternative Investments for Portfolio Management, SS15)
 
  ü风险管理(Risk Management, SS16-17)
 
  ü业绩评估(Performance Evaluation, SS19)
 
  ü全球投资业绩标准(Global Investment Performance Standards, SS20)
  下列科目发生变化:
 
  ü职业道德(Ethical and Professional Standards, SS1-3):新增Study session 3,包括2个章节;Study session 1和2中,无实质性变化,只有措辞些微改变。
 
  ü资产配置(Asset Allocation and Related Decision in Portfolio Management, SS9-10):Study Session 9中的Reading 18(原Reading16)删除1条考纲;Study Session10删除一整章。
 
  ü固定收益组合管理(Fixed-Income Portfolio Management, SS11-12):Study Session 11无变化;Study Session 12中的Reading 24(原Reading23)新增2条考纲。
 
  ü权益组合管理(Equity Portfolio Management, SS13-14):整个部分完全重新编写,由原来的1个session变成2个session;修改后的Study session 13-14,包括4个章节。
 
  ü交易(Trading, SS18):Session的名称改变,从“Trading, Monitoring and Rebalancing”修改为“Trading”;Study Session 18(原Session16) 中删除一整章。

        关于2018-2019年CFA学习,建议可以早点下载2018-2019新版CFA电子资料进行了解学习点我领取) 
 
  各科目的具体变化如下:
 
  职业道德(Study Session 1 - 3)
 
  1.新增Study session 3,包括2个章节,分别为:
 
  ?Reading 5. Overview of the Asset Management Industry and Portfolio Management
 
  a.describe the structure of the asset management industry;
 
  b.discuss a portfolio management process that supports achieving asset owners’ objectives;
 
  c.discuss the elements of effective investment governance.
 
  ?Reading 6. Professionalism in Investment Management
 
  d.describe professions and how they establish trust;
 
  e.explain professionalism in investment management;
 
  f.describe expectations of and challenges for investment management professionals.
 
  2.Study session 1和2中,无实质性变化,只有措辞些微改变。
 
  将“the Code of Ethics and Standards of Professional Conduct”改为“the CFA Institute Code of Ethics and Standards of Professional Conduct”或“the Code and Standards”
 
  资产配置(Study Session 9-10)
 
  1.Study Session 9中的Reading 18(原Reading16)删除1条考纲。
 
  ?Reading 18. Introduction to Asset Allocation
 
  a.describe elements of effective investment governance and investment governance considerations in asset allocation;
 
  2.Study Session10删除一整章
 
  原Reading 20. Market Indexes and Benchmarks整章删除。
 
  固定收益组合管理(Study Session 11-12)
 
  1.Study Session 11无变化
 
  2.Study Session 12中的Reading 24(原Reading23)新增2条考纲。
 
  Reading 24. Yield Curve Strategies
 
  b.  explain how to execute a carry trade;
 
  g.  discuss inter-market curve strategies;
 
  权益组合管理(Study Session 13-14)
 
  1.整个部分完全重新编写,由原来的1个session变成2个session。
 
  2.修改后的Study session 13-14,包括4个章节,分别为:
 
  Reading 26. Introduction to Equity Portfolio Management
 
  a.describe the roles of equities in the overall portfolio;
 
  b.describe how an equity manager’s investment universe can be segmented;
 
  c.describe the types of income and costs associated with owning and managing an equity portfolio and their potential effects on portfolio performance;
 
  d.describe the potential benefits of shareholder engagement and the role an equity manager might play in shareholder engagement;
 
  e.describe rationales for equity investment across the passive–active spectrum.
 
  Reading 27. Passive Equity Investing
 
  a.discuss considerations in choosing a benchmark for a passively managed equity portfolio;
 
  b.compare passive factor-based strategies to market-capitalization-weighted indexing;
 
  c.compare different approaches to passive equity investing;
 
  d.compare the full replication, stratified sampling, and optimization approaches for the construction of passively managed equity portfolios;
 
  e.discuss potential causes of tracking error and methods to control tracking error for passively managed equity portfolios;
 
  f.explain sources of return and risk to a passively managed equity portfolio.
 
  Reading 28. Active Equity Investing: Strategies
 
  a.compare fundamental and quantitative approaches to active management;
 
  b.analyze bottom-up active strategies, including their rationale and associated processes;
 
  c.analyze top-down active strategies, including their rationale and associated processes;
 
  d.analyze factor-based active strategies, including their rationale and associated processes;
 
  e.analyze activist strategies, including their rationale and associated processes;
 
  f.describe active strategies based on statistical arbitrage and market microstructure;
 
  g.describe how fundamental active investment strategies are created;
 
  h.describe how quantitative active investment strategies are created;
 
  i.discuss equity investment style classifications.
 
  ?Reading 29. Active Equity Investing: Portfolio Construction
 
  a.describe elements of a manager’s investment philosophy that influence the portfolio construction process;
 
  b.discuss approaches for constructing actively managed equity portfolios;
 
  c.distinguish between Active Share and active risk and discuss how each measure relates to a manager’s investment strategy;
 
  d.discuss the application of risk budgeting concepts in portfolio construction;
 
  e.discuss risk measures that are incorporated in equity portfolio construction and describe how limits set on these measures affect portfolio construction;
 
  f.discuss how assets under management, position size, market liquidity, and portfolio turnover affect equity portfolio construction decisions;
 
  g.evaluate the efficiency of a portfolio structure given its investment mandate;
 
  h.discuss the long-only, long extension, long/short, and equitized market-neutral approaches to equity portfolio construction, including their risks, costs, and effects on potential alphas.
 
  交易(Study Session18)
 
  1.Session的名称改变,从“Trading, Monitoring and Rebalancing”修改为“Trading”
 
  2.Study Session 18(原Session16) 中删除一整章
 
  原Reading 32. Monitoring and Rebalancing整章删除。
 
  (以上内容由高顿CFA提供,版权归高顿CFA所有,仅供交流学习)
 
  中国CFA考试网(www.cfa.cn)综合整理,来源:中国CFA考试网,原创文章,经授权转载,若需引用或转载,请注明出处 ,仅供参考、交流之目的。
 
  相关CFA内容推荐阅读:
 
 
推荐:全球95%考生都在用CFA资料>>【点我领取2018-2019CFA最完整资料】 (资料包含CFA必考点总结,提升备考效率,加分必备)


0条评论

  • 【重磅】2019年6月CFA报名一阶段延长至10月17日截止!2019年6月CFA考试第一阶段的报名截止时间更改为美国东岸时间10月17日。

    CFA考试网 阅读(124) 2018-10-10 08:43
  • 2018年12月CFA考试52天,复习冲刺火热进行!要知道CFA考试是一场持久战,CFA一级的内容就像是这只小恐龙一样,并不可怕,还有点可爱,打败它就是在给我们打基础、练内功。

    CFA考试网 阅读(108) 2018-10-09 16:27
  • CFA二级考试经验分享附复习时间安排;说说整个备考过程的时间安排,我整个备考的时间安排都是基于制定的学习计划。学服老师自动帮我生成了学习计划,指定我在哪个时间段必须读

    CFA考试网 阅读(160) 2018-10-09 15:54
  • 协会重要通知!36小时后,你将多花2000元CFA报名费!2019年6月CFA考试第一阶段报名最后两天,报名的正确姿势你get了吗?

    CFA考试网 阅读(158) 2018-10-09 13:16
  • 朋友圈被CFA刷爆,看个综艺都在学CFA!今天起来朋友圈被CFA刷爆,看个综艺都在学CFA!什么叫做比你优秀的人还比你努力[笑cry],看个综艺人家都在学CFA!

    CFA考试网 阅读(52) 2018-10-08 17:27
  • 温馨提醒2019CFA一阶段报名即将截止(10.10止);第一阶段考试+注册费用只需$1100,千万不要错过哦!错过第一阶段,多花300刀!错过第一第二阶段,多花730刀!

    CFA考试网 阅读(153) 2018-10-08 10:10
  • 博士国企高管,CFA资深会员,辞职后种橘子,年入千万!“证霸”之名,魏刚也是坐的实实的。除了CPA、ACCA、HKCPA证书外,金融领域最有含金量的证书CFA,魏刚也已收入麾下。从这些证

    CFA考试网 阅读(95) 2018-10-08 09:28
  • CFA考生读研进修有福了!这些学府的豁免政策开放...高顿君在考友群内,看到有同学说计划申请国外研究生项目。从聊天记录得知,该同学目前已经通过CFA二级。高顿君突然想起,在申

    CFA考试网 阅读(120) 2018-10-08 08:48
  • CFA二级学霸轻松过CFA二级经验分享!今年8月中旬出成绩的时候看到了CFA INSTITUE发来的邮件,看到上面的Congratulations!瞬间有点睡不着,给好几个人发了邮件截图、发朋友圈……

    CFA考试网 阅读(139) 2018-09-30 14:57
  • CFA复习冲刺只剩两个月,应该注意什么?国庆假期开始,除了一心想给祖国庆生,还有日渐接近的考试冲刺阶段,CFA冲刺赛程过半,应该注意什么?

    CFA考试网 阅读(151) 2018-09-30 14:38
  • 2019年CFA考试用什么资料?附资料下载、说明;介绍2019年CFA一二三级考纲、考纲对比资料;2019年CFA原版书、CFA notes(英文基础差推荐:CFA中英文教材);2019年CFA MOCK...

    CFA考试网 阅读(108) 2018-09-29 13:55
  • 2019CFA三级考纲变化分析,快速入手指南!对于第一次参加该级别考试的学员,最关键的就是要知道新增知识点是什么,因为每年CFA考纲的新增的考点一定就是协会出题的重点。

    CFA考试网 阅读(88) 2018-09-28 11:29

————————————————————————————————————————我是有底线的————————————————————————————————————————

CopyRight © 2003-2017 CFA.cn 中国CFA考试网