2020年CFA一级考试有哪些重点?

对于CFA一级考试,知识点多,学习上一定要有方向,不要太杂。要了解每门科目的要点。今天融跃小编就和大家来说说2020年CFA一级考试有哪些重点?

CFA一级考试重点

先来了解下CFA一级考试科目:

1.道德与职业行为标准(Ethics and Professional Standards)

2.定量分析(Quantitative)

3.经济学(Economics)

4.财务报表分析(Financial Statement Analysis)

5.公司理财(Corporate Finance)

6.投资组合管理 (Portfolio Management)

7.权益投资(Equity Investments)

8.固定收益投资(Fixed Income)

9.衍生工具(Derivatives)

10.其他类投资(Alternative Investments)

小跃根据CFA协会发布的公告,整理考纲变化内容如下:

上图是cfa科目占cfa一级考试比重

从上述表格可以了解到2020年CFA一级考试主要考察考生对投资工具和基础知识的掌握,重点在职业道德伦理和财务报表的版块。从考试各科目成绩占比来看

2020年CFA一级没有任何变化,但从考纲内容的调整来看,科目细节变化较多。

2020年CFA一级考试的重点

变化科目一、职业伦理与道德

(Ethical and Professional Standards)

Reading 1.Ethics And Trust In The Investment Profession

新增考纲:c.describe professions and how they establish trust;

取消内容:对framework for ethical decision making的应用(apply)要求。

变化科目二、数量方法

(Quantitative Methods)

Reading.Discounted Cash Flow Applications

全部删除

Reading 7.Statistical Concepts and Market Returns

取消内容:2019年考纲已取消对夏普比率(Sharpe ratio)的计算和解释要求。2020年同2019年,无变化。

Reading 11.Hypothesis Testing

新增考纲: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

内容移动:整体移动到组合管理(Portfolio Management)部分。

变化科目三、财务报表及分析

(Financial Statement and Analysis)

Reading 20.Financial Reporting Standards

删除4条考纲:

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.

变化内容主要为:取消财报准则设置机构的描述、对国际证监会组织的角色描述、财报的目标描述、财报的前提准备等要求。

Reading 21.Understanding Income Statements

删除2条考纲:

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

删除2条考纲:

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

删除2条考纲:

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;

变化科目四、公司金融

(Corporate Finance)

Reading 32.Capital Budgeting

新增考纲:f contrast the NPV decision rule to the IRR decision rule and identify problems associated with the IRR rule;

变化科目五、固定收益

(Fixed Income)

Reading 44.Introduction to Fixed-Income Valuation

新增考纲:f calculate annual yield on a bond for varying compounding periods in a year;

变化科目六、衍生工具

(Derivatives)

Reading 48.Derivative Markets and Instruments

新增考纲: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

新增考纲:c.calculate a forward price of an asset with zero,positive,or negative net cost of carry;

删减考纲:i.explain how the value of a European option is determined at expiration;

变化科目七、投资组合管理

(Alternative Investments)

Reading 51.Portfolio Management:An Overview

新增考纲:b.describe the steps in the portfolio management process;

Reading 52.Portfolio Risk and Return:Partl

新增考纲: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

新增考纲:h.describe how environmental,social,and governance(ESG)considerations may be integrated into portfolio planning and construction.

以上内容整理来自CFA协会、中国CFA考试网

根据往年CFA考试的经验,职业道德标准、财务报表分析、投资工具和资产评估都在历年考试中占据着较大的比重,大家要着重复习。2020年CFA一级考试变化大家都了解了吗?

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