3/22/2015

CandidateBodyofKnowledge

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CandidateBodyofKnowledgeTopicOutline
TheCandidateBodyofKnowledge(CBOK)*representsthecoreknowledge,skills,andabilitiesthataregenerallyacceptedandappliedbyinvestment
professionalsthroughouttheworld.Youshouldalsoreviewthe:
Topicareasweightsforeachexamlevel
Studysessionoutlines,LOS,anderrata

I.EthicalandProfessionalStandards
A.ProfessionalStandardsofPractice
B.EthicalPractices

II.QuantitativeMethods
A.TimeValueofMoney

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B.Probability
C.ProbabilityDistributionsandDescriptiveStatistics
D.SamplingandEstimation
E.HypothesisTesting
F.CorrelationAnalysisandRegression
G.TimeSeriesAnalysis
H.SimulationAnalysis
I.TechnicalAnalysis

III.Economics
A.MarketForcesofSupplyandDemand
B.TheFirmandIndustryOrganization
C.MeasuringNationalIncomeandGrowth
D.BusinessCycles
E.TheMonetarySystem
F.Inflation
G.InternationalTradeandCapitalFlows

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H.CurrencyExchangeRates
I.MonetaryandFiscalPolicy
J.EconomicGrowthandDevelopment
K.EffectsofGovernmentRegulation
L.ImpactofEconomicFactorsonInvestmentMarkets

IV.FinancialReportingandAnalysis
A.FinancialReportingSystem(withanemphasisonIFRS)
B.AnalysisofPrincipalFinancialStatements
C.FinancialReportingQuality
D.AnalysisofInventoriesandLongLivedAssets
E.AnalysisofTaxes
F.AnalysisofDebt
G.AnalysisofOffBalanceSheetAssetsandLiabilities
H.AnalysisofPensions,StockCompensation,andOtherEmployeeBenefits
I.AnalysisofInterCorporateInvestments
J.AnalysisofBusinessCombinations

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K.AnalysisofGlobalOperations
L.RatioandFinancialAnalysis

V.CorporateFinance
A.CorporateGovernance
B.DividendPolicy
C.CapitalInvestmentDecisions
D.BusinessandFinancialRisk
E.CapitalStructureDecisions
F.WorkingCapitalManagement
G.MergersandAcquisitionsandCorporateRestructuring

VI.EquityInvestments
A.TypesofEquitySecuritiesandTheirCharacteristics
B.EquityMarkets:CharacteristicsandInstitutions
C.EquityPortfolioBenchmarks
D.ValuationofIndividualEquitySecurities
E.FundamentalAnalysis(Sector,Industry,Company)
F.EquityMarketValuationandReturnAnalysis
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G.CloselyHeldCompaniesandInactivelyTradedSecurities
H.EquityPortfolioManagementStrategies

VII.FixedIncome
A.TypesofFixedIncomeSecuritiesandTheirCharacteristics
B.FixedIncomeMarkets:Characteristics&Institutions
C.FixedIncomePortfolioBenchmarks
D.FixedIncomeValuation(Sector,Industry,Company)andReturnAnalysis
E.TermStructureDeterminationandYieldSpreads
F.AnalysisofInterestRateRisk
G.AnalysisofCreditRisk
H.ValuingBondswithEmbeddedOptions
I.StructuredProducts
J.FixedIncomePortfolioManagementStrategies

VIII.Derivatives
A.TypesofDerivativeInstrumentsandTheirCharacteristics
B.ForwardMarketsandValuationofForwardContracts
C.FuturesMarketsandValuationofFuturesContracts
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D.OptionsMarketsandValuationofOptionContracts
E.SwapsMarketsandValuationofSwapContracts
F.CreditDerivativesMarketsandInstruments
G.UsesofDerivativesinPortfolioManagement

IX.AlternativeInvestments
A.TypesofAlternativeInvestmentsandTheirCharacteristics
B.RealEstateValuation
C.PrivateEquity/VentureCapitalValuation
D.HedgeFundStrategies
E.DistressedSecurities/Bankruptcies
F.CommoditiesandManagedFutures
G.AlternativeInvestmentManagementStrategies

X.PortfolioManagementandWealthPlanning
A.TheInvestmentPolicyStatement
B.ModernPortfolioManagementConcepts
C.BehavioralFinance
D.ManagementofIndividual/FamilyInvestorPortfolios
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E.ManagementofInstitutionalInvestorPortfolios
F.InvestmentManagerSelection
G.EconomicAnalysisandSettingCapitalMarketExpectations
H.TaxEfficiencyStrategies
I.AssetAllocation
J.PortfolioConstructionandRevision
K.RiskManagement
L.ExecutionofPortfolioDecisions(Trading)
M.PerformanceEvaluation
N.PresentationofPerformanceResults
*Note:TheCBOKTopicOutlinewasupdatedJuly2014.

TheCBOKandPracticeAnalysis
TheCandidateBodyOfKnowledge(CBOK)(PDF)representsthecoreknowledge,skills,andabilitiesgenerallyacceptedandappliedbyinvestment
professionalsglobally.Itisgroundedinpractice,meaningthatpanelsandsurveysofthousandsofinvestmentprofessionalshavehadinputintothe
CourseofStudy.Learnmoreaboutpracticeanalysis.

InsidetheCFAProgram
http://www.cfainstitute.org/programs/cfaprogram/courseofstudy/Pages/cbok.aspx

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FromthecreationoftheCandidateBodyofKnowledgetothegradinganddeliveryofexamresults,seehowtheprogramhasevolved.
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