CFA Program Curriculum 2019 Level III Volumes 1-6 Box Set

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Beskrivning

Apply CFA Program concepts and skills to real-world wealth and portfolio management for the 2019 examThe same official curricula that CFA Program candidates receive with program registration is now publicly available for purchase. CFA Program Curriculum 2019 Level III, Volumes 1-6 provides complete, authoritative guidance on synthesizing the entire CFA Program Candidate Body of Knowledge (CBOK) into professional practice for the 2019 exam. This book helps you bring together the skills and concepts from Levels I and II to formulate a detailed, professional response to a variety of real-world scenarios. Coverage spans all CFA Program topics and provides a rigorous treatment of portfolio management, all organized into individual study sessions with clearly defined Learning Outcome Statements. Visual aids clarify complex concepts, and practice questions allow you to test your understanding while reinforcing major content areas.Levels I and II equipped you with foundational investment tools and complex analysis skill; now, you'll learn how to effectively synthesize that knowledge to facilitate effective portfolio management and wealth planning. This study set helps you convert your understanding into a professional body of knowledge that will benefit your clients' financial futures. Master essential portfolio management and compliance topicsSynthesize your understanding into professional guidanceReinforce your grasp of complex analysis and valuationApply ethical and professional standards in the context of real-world casesCFA Institute promotes the highest standards of ethics, education, and professional excellence among investment professionals. The CFA Program curriculum guides you through the breadth of knowledge required to uphold these standards. The three levels of the program build on each other. Level I provides foundational knowledge and teaches the use of investment tools; Level II focuses on application of concepts and analysis, particularly in the valuation of assets; and Level III builds toward synthesis across topics with an emphasis on portfolio management.

Produktinformation

Utgivningsdatum:2018-08-24
Språk:Engelska
Antal sidor:2 832
Filformat:PDF
Kopieringsskydd:LCP
ISBN:9781119516880
Förlag:John Wiley & Sons Inc
Serie:CFA Curriculum 2019

Utforska kategorier

Finansiering inom Ekonomi och Ledarskap

Mer om författaren

CFA Institute is the global association of investment professionals that sets the standard for professional excellence and credentials. The organization is a champion for ethical behavior in investment markets and a respected source of knowledge in the global financial community. The end goal: to create an environment where investors’ interests come first, markets function at their best, and economies grow. CFA Institute has more than 155,000 members in 165 countries and territories, including 150,000 CFA® charterholders, and 148 member societies. For more information, visit www.cfainstitute.org.

Innehållsförteckning

How to Use the CFA Program Curriculum viiCurriculum Development Process viiOrganization of the Curriculum viiiFeatures of the Curriculum viiiDesigning Your Personal Study Program ixFeedback xiEthical and Professional StandardsStudy Session 1 Ethical and Professional Standards (1) 3Reading 1 Code of Ethics and Standards of Professional Conduct 5Preface 5Evolution of the CFA Institute Code of Ethics and Standards of Professional Conduct 6Standards of Practice Handbook 6Summary of Changes in the Eleventh Edition 7CFA Institute Professional Conduct Program 9Adoption of the Code and Standards 10Acknowledgments 10Ethics and the Investment Industry 11Why Ethics Matters 11CFA Institute Code of Ethics and Standards of Professional Conduct 15Preamble 15The Code of Ethics 15Standards of Professional Conduct 16Reading 2 Guidance for Standards I–VII 21Standard I: Professionalism 21Standard I(A) Knowledge of the Law 21Guidance 21Recommended Procedures for Compliance 26Application of the Standard 27Standard I(B) Independence and Objectivity 30Guidance 30Recommended Procedures for Compliance 35Application of the Standard 36Standard I(C) Misrepresentation 43Guidance 43Recommended Procedures for Compliance 46Application of the Standard 48Standard I(D) Misconduct 53Guidance 53Recommended Procedures for Compliance 54Application of the Standard 54Standard II: Integrity of Capital Markets 56Standard II(A) Material Nonpublic Information 56Guidance 56Recommended Procedures for Compliance 60Application of the Standard 63Standard II(B) Market Manipulation 68Guidance 68Application of the Standard 69Standard III: Duties to Clients 73Standard III(A) Loyalty, Prudence, and Care 73Guidance 73Recommended Procedures for Compliance 77Application of the Standard 78Standard III(B) Fair Dealing 82Guidance 82Recommended Procedures for Compliance 84Application of the Standard 86Standard III(C) Suitability 90Guidance 90Recommended Procedures for Compliance 93Application of the Standard 94Standard III(D) Performance Presentation 97Guidance 97Recommended Procedures for Compliance 98Application of the Standard 98Standard III(E) Preservation of Confidentiality 101Guidance 101Recommended Procedures for Compliance 103Application of the Standard 103Standard IV: Duties to Employers 105Standard IV(A) Loyalty 105Guidance 105Recommended Procedures for Compliance 109Application of the Standard 109Standard IV(B) Additional Compensation Arrangements 116Guidance 116Recommended Procedures for Compliance 116Application of the Standard 116Standard IV(C) Responsibilities of Supervisors 118Guidance 118Recommended Procedures for Compliance 120Application of the Standard 122Standard V: Investment Analysis, Recommendations, and Actions 126Standard V(A) Diligence and Reasonable Basis 126Guidance 126Recommended Procedures for Compliance 130Application of the Standard 130Standard V(B) Communication with Clients and Prospective Clients 137Guidance 138Recommended Procedures for Compliance 140Application of the Standard 141Standard V(C) Record Retention 146Guidance 146Recommended Procedures for Compliance 147Application of the Standard 148Standard VI: Conflicts of Interest 149Standard VI(A) Disclosure of Conflicts 149Guidance 149Recommended Procedures for Compliance 152Application of the Standard 152Standard VI(B) Priority of Transactions 157Guidance 157Recommended Procedures for Compliance 158Application of the Standard 160Standard VI(C) Referral Fees 162Guidance 162Recommended Procedures for Compliance 162Application of the Standard 162Standard VII: Responsibilities as a CFA Institute Member or CFA Candidate 165Standard VII(A) Conduct as Participants in CFA Institute Programs 165Guidance 165Application of the Standard 167Standard VII(B) Reference to CFA Institute, the CFA Designation, and the CFA Program 170Guidance 170Recommended Procedures for Compliance 172Application of the Standard 173Practice Problems 175Solutions 185Study Session 2 Ethical and Professional Standards (2) 193Reading 3 Application of the Code and Standards 195Introduction 195The Consultant 196Mark Vernley 196The Consulting Contract 197Evaluation of the Situation 197Pearl Investment Management (A) 200Knowledge of the Law and Obligation to Obey 201Responsibilities of Supervisors 202Trading for Personal Accounts 202Maintaining Confidential Client Information 203Pearl Investment Management (B) 203Responsibility of Candidates to Comply with the Code and Standards 204Dealing with Clients 204Errors in Client Accounts 205Pearl Investment Management (C) 206Proper Care and Independent Judgment 207Use of Insider Information 208Using the Research of Others 209Reasonable Basis for a Research Opinion 209Relevant Factors and Fact versus Opinion in Research Reports 209Misrepresentation of Services and Performance Presentation 210Practice Problems 211Solutions 228Reading 4 Asset Manager Code of Professional Conduct 235Introduction 235Adopting the Code and Claiming Compliance 237Acknowledgement of Claim of Compliance to CFA Institute 237General Principles of Conduct 237Asset Manager Code of Professional Conduct 238Loyalty to Clients 238Investment Process and Actions 238Trading 238Risk Management, Compliance, and Support 239Performance and Valuation 239Disclosures 239Appendix 6—Recommendations and Guidance 240Loyalty to Clients 240Investment Process and Actions 241Trading 244Risk Management, Compliance, and Support 246Performance and Valuation 250Disclosures 251Practice Problems 255Solutions 260Portfolio ManagementStudy Session 3 The Asset Management Industry and Professionalism 265Reading 5 Overview of the Asset Management Industry and Portfolio Management 267Introduction 267The Asset Management Industry 268Industry Overview 268Active versus Passive Management 269Traditional versus Alternative Asset Managers 270Ownership Structure 271Asset Management Clients 271Major Investment Products 275Asset Management Industry Trends 278The Portfolio Management Process 281Fundamentals of Investment Governance 283Governance Structures 284Articulating Investment Objectives 284Allocation of Rights and Responsibilities 285Investment Policy Statement 287Asset Allocation and Rebalancing Policy 288Reporting Framework 288The Governance Audit 288Summary 291Reading 6 Professionalism in Investment Management 293Introduction 293Professions 294How Professions Establish Trust 294Professions Are Evolving 296Professionalism in Investment Management 296Trust in Investment Management 297CFA Institute as an Investment Management Professional Body 298Expectations of Investment Management Professionals 299Challenges for Investment Management Professionals 300Summary 301Practice Problems 303Solutions 304Glossary G-1Index I-1