對(duì)于CFA一級(jí)考試,知識(shí)點(diǎn)多,學(xué)習(xí)上一定要有方向,不要太雜。要了解每門科目的要點(diǎn)。今天融躍小編就和大家來說說2020年CFA一級(jí)考試有哪些重點(diǎn)?
先來了解下CFA一級(jí)考試科目:
1.道德與職業(yè)行為標(biāo)準(zhǔn)(Ethics and Professional Standards)
2.定量分析(Quantitative)
3.經(jīng)濟(jì)學(xué)(Economics)
4.財(cái)務(wù)報(bào)表分析(Financial Statement Analysis)
5.公司理財(cái)(Corporate Finance)
6.投資組合管理 (Portfolio Management)
7.權(quán)益投資(Equity Investments)
8.固定收益投資(Fixed Income)
9.衍生工具(Derivatives)
10.其他類投資(Alternative Investments)
小躍根據(jù)CFA協(xié)會(huì)發(fā)布的公告,整理考綱變化內(nèi)容如下:
上圖是cfa科目占cfa一級(jí)考試比重
從上述表格可以了解到2020年CFA一級(jí)考試主要考察考生對(duì)投資工具和基礎(chǔ)知識(shí)的掌握,重點(diǎn)在職業(yè)道德倫理和財(cái)務(wù)報(bào)表的版塊。從考試各科目成績(jī)占比來看
2020年CFA一級(jí)沒有任何變化,但從考綱內(nèi)容的調(diào)整來看,科目細(xì)節(jié)變化較多。
2020年CFA一級(jí)考試的重點(diǎn)
變化科目一、職業(yè)倫理與道德
(Ethical and Professional Standards)
Reading 1.Ethics And Trust In The Investment Profession
新增考綱:c.describe professions and how they establish trust;
取消內(nèi)容:對(duì)framework for ethical decision making的應(yīng)用(apply)要求。
變化科目二、數(shù)量方法
(Quantitative Methods)
Reading.Discounted Cash Flow Applications
全部刪除
Reading 7.Statistical Concepts and Market Returns
取消內(nèi)容:2019年考綱已取消對(duì)夏普比率(Sharpe ratio)的計(jì)算和解釋要求。2020年同2019年,無變化。
Reading 11.Hypothesis Testing
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;
Reading 13.Technical Analysis
內(nèi)容移動(dòng):整體移動(dòng)到組合管理(Portfolio Management)部分。
變化科目三、財(cái)務(wù)報(bào)表及分析
(Financial Statement and Analysis)
Reading 20.Financial Reporting Standards
刪除4條考綱:
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 financialreporting 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.
變化內(nèi)容主要為:取消財(cái)報(bào)準(zhǔn)則設(shè)置機(jī)構(gòu)的描述、對(duì)國際證監(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
刪除2條考綱:
① 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;
② 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
刪除2條考綱:
① o.explain and evaluate how leasing rather than purchasing assets affects financial statements and ratios;
② p.explain and evaluate 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
刪除2條考綱:
① h.determine the initial recognition,initial measurement,and subsequent measurement of finance leases;
② i.compare the disclosures relating to finance and operating leases;
變化科目四、公司金融
(Corporate Finance)
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;
變化科目五、固定收益
(Fixed Income)
Reading 44.Introduction to Fixed-Income Valuation
新增考綱:f calculate annual yield on a bond for varying compounding periods in a year;
變化科目六、衍生工具
(Derivatives)
Reading 48.Derivative Markets and Instruments
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
新增考綱:c.calculate a forward price of an asset with zero,positive,or negative net cost of carry;
刪減考綱:i.explain how the value of a European option is determined at expiration;
變化科目七、投資組合管理
(Alternative Investments)
Reading 51.Portfolio Management:An Overview
新增考綱:b.describe the steps in the portfolio management process;
Reading 52.Portfolio Risk and Return:Partl
新增考綱:b.compare the money-weighted and time-weighted rates of return and evaluate the performance of portfolios based on these measures;
Reading 54.Basics of Portfolio Planning and Construction
新增考綱:h.describe how environmental,social,and governance(ESG)considerations may be integrated into portfolio planning and construction.
以上內(nèi)容整理來自CFA協(xié)會(huì)、中國CFA考試網(wǎng)
根據(jù)往年CFA考試的經(jīng)驗(yàn),職業(yè)道德標(biāo)準(zhǔn)、財(cái)務(wù)報(bào)表分析、投資工具和資產(chǎn)評(píng)估都在歷年考試中占據(jù)著較大的比重,大家要著重復(fù)習(xí)。2020年CFA一級(jí)考試變化大家都了解了嗎?
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