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17年CFA二级考纲会有何变化?
时间: 2016-08-03 来源:浦江财经 作者:flora 点击:
CFA备考要从考纲开始,通过握好考试的侧重点,然后合理的分配好备考的时间这样才可以做到事半功倍,提高CFA考试通过率。昨天浦江财经分享了CFA一级考纲的变化,那么今天就趁热呈上二级考纲变化给大家~
 
1、经济学
 
无变化
 
2、财务报表分析
 
原2016年Reading 16删除
 
Inventories:Implications for Financial Statements and Ratios
 
原2016年Reading 17删除
 
Long-lived Assets:Implications for Financial Statements and Ratios
 
3、股权投资
 
原2016年Reading 31删除
 
The Five Competitive Forces That Shape Strategy
 
原2016年Reading 32删除
 
Your Strategy Needs a Strategy
 
4、另类投资
 
原2016年Reading 42改变
 
从2016 A Primer on Commodity Investing
 
改变为2017 Commodities and Commodity Derivatives:An Introduction
 
新增内容部分:
 
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、投资组合
 
新增内容部分:
 
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 trading
 
A.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
 
无变化
 
7、量化分析
 
无变化
 
8、公司金融
 
无变化
 
9、固定收益
 
新增内容部分:
 
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
 
结构虽然有大的调整,但是核心知识点并未改变。
 
关键变动:
 
1、CDS删除,实际移动到固定收益
 
2、16年考纲提及到的Eurodollar Future,cap and floor,contango and backwardation,FRA在17年考纲中并未重点提到。
填写表单送惊喜