详解CFA考试课程设置和评分标准

1、详解CFA考试课程设置和评分标准I. Ethical and Professio nal Sta ndards（伦理和职业道德规范）A. Professi onal Stan dards of PracticeB. Ethical PracticesII. Qua ntitative Methods（定量方法）A. Time Value of MoneyB. ProbabilityC. Probability Distributi ons and Descriptive StatisticsD. Sampli ng and Estimati onE. Hypothesis Test ingF.

2、 Correlati on An alysis and Regressi onG. Time-Series An alysisH. Simulation AnalysisI. Tech ni cal An alysisIII. Eco nomics（经济学）A. Market Forces of Supply and Dema ndB. The Firm and In dustry Orga ni zati onC. Measuri ng Nati onal In come and GrowthD. Busin ess CyclesE. The Mon etary SystemF. I nfl

3、ationG. International Trade and Capital FlowsH. Currency Excha nge RatesI. Mon etary and Fiscal PolicyJ. Econo mic Growth and Developme ntK. Effects of Government Regulatio nL. Impact of Econo mic Factors on In vestme nt MarketsIV. Financial Reporti ng and An alysis(财务报表与分析)A. Financial Reporting Sy

4、stem (with an emphasis on IFRS)B. An alysis of Prin cipal Finan cial Stateme ntsC. Finan cial Report ing QualityD. An alysis of Inven tories and Lon g-Lived AssetsE. An alysis of TaxesF. An alysis of DebtG. An alysis of Off-Bala nce-Sheet Assets and LiabilitiesH. An alysis of Pensions, Stock Compe n

5、sati on, and Other Employee Ben efitsI. An alysis of In ter-Corporate In vestme ntsJ. An alysis of Busin ess Comb in ati onsK. An alysis of Global Operati onsL. Ratio and Finan cial An alysisV. Corporate FinanceA. Corporate GovernanceB. Divide nd PolicyC. Capital In vestme nt Decisi onsD. Busin ess

6、and Finan cial RiskE. Capital Structure Decisi onsF. Work ing Capital Man ageme ntG. Mergers and Acquisiti ons and Corporate Restructuri ngVI. Equity In vestme nts(股权投资)A. Types of Equity Securities and Their CharacteristicsB. Equity Markets: Characteristics and In stitutio nsC. Equity Portfolio Ben

7、 chmarksD. Valuati on of In dividual Equity SecuritiesE. Fun dame ntal An alysis (Sector, I ndustry, Compa ny)F. Equity Market Valuation and Return AnalysisG. Closely Held Compa nies and In actively Traded SecuritiesH. Equity Portfolio Man ageme nt StrategiesVII. Fixed In come(固定收益)A. Types of Fixed

8、-I ncome Securities and Their CharacteristicsB. Fixed-I ncome Markets: Characteristics & In stituti onsC. Fixed In come Portfolio Ben chmarksD. Fixed-I ncome Valuati on (Sector, I ndustry, Compa ny) and Retur n An alysisE. Term Structure Determ in ati on and Yield SpreadsF. An alysis of In terest Ra

9、te RiskG. An alysis of Credit RiskH. Valuing Bonds with Embedded Opti onsI. Structured ProductsJ. Fixed-I ncome Portfolio Man ageme nt StrategiesVIII. Derivatives（衍生产品）A. Types of Derivative In strume nts and Their CharacteristicsB. Forward Markets and Valuati on of Forward Con tractsC. Futures Mark

10、ets and Valuati on of Futures Con tractsD. Opti ons Markets and Valuati on of Opti on Con tractsE. Swaps Markets and Valuati on of Swap Con tractsF. Credit Derivatives Markets and In strume ntsG. Uses of Derivatives in Portfolio Man ageme ntIX. Alternative In vestme nts（另类投资）A. Types of Alter native

11、 In vestme nts and Their CharacteristicsB. Real Estate Valuati onC. Private Equity/Ve nture Capital Valuati onD. Hedge Fund StrategiesE. Distressed Securities/Ba nkruptciesF. Commodities and Man aged FuturesG. Alternative In vestme nt Man ageme nt StrategiesG. CollectiblesX. Portfolio Ma nageme nt a

12、nd Wealth Pla nning（投资组合管理及财产规划）A. The In vestme nt Policy Stateme ntB. Moder n Portfolio Man ageme nt Con ceptsC. Behavioral FinanceD. Man ageme nt of In dividual/Family In vestor PortfoliosE. Man ageme nt of In stituti onal In vestor PortfoliosF. In vestme nt Man ager Select ionG. Econo mic An aly

13、sis and Sett ing Capital Market Expectati onsH. Tax Efficie ncy StrategiesI. Asset Allocatio nJ. Portfolio Con structi on and Revisi onK. Risk Man ageme ntL. Executi on of Portfolio Decisio ns (Tradi ng)M. Performa nee Evaluati onN. Prese ntati on of Performa nee Results*Note: The CBOK Topic Outline

14、 was updated July 2014.CFA评分标准考试成绩分为Pass或者Fail;CFA一级、二级成绩一般在考试结束后60天内公布，CFA三级成绩在考试结束后的90天内公布；评分体系：CFA考试中会对各个科目单独评分，每个科目的成绩分为三档：70%.CFA协会会把考生各个科目成绩汇总做加权平均，从而评判考生是否能通过考试；CFA协会官方尚没公布具体的通过标准，以下标准为根据历年考生的实际通过情况进行估算的：考生正确 的答案数量 =全球成绩排名前1%勺考生的平均正确答案数量的70%例如：试题总量为240题，全球成绩排名前1%勺考生的平均正确答案数量为220题，那么考生必须答对220*70%=154题才可通过本次考试。Ethics部分的影响：如果考生成绩在及格线边缘，那Ethics的成绩会对考生是否通过考试产生重要影响, 如果考生Ethi