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2020CFA考纲变化,你看懂了吗?

作者:融仕国际文章来源:原创点击数:64更新时间:2020-01-09 16:29:01

2020CFA考试变化

2020年上半年的CFA考试时间表已出,安排如下:



CFA一级考纲变化
CFA一级考纲连续多年都在大改,相较过往而言,2020年的CFA一级考纲整体变化幅度较小,主要是各项细节调整,具体调整如下:

01 伦理道德与专业准则

Reading 1. Ethics And Trust In The Investment Profession中,新增考纲:c. describe professions and how they establish trust;取消对framework for ethical decision making的应用(apply)要求。

02 数量方法

删除整个Reading. Discounted Cash Flow ApplicationsReading 7. Statistical Concepts and Market Returns中,19相比18年考纲取消对夏普比率(Sharpe ratio)的计算和解释要求。Reading 11. Hypothesis Testing中,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;原Reading 13. Technical Analysis 整体移动到组合管理(Portfolio Management)部分。

03 公司财报分析

Reading 20. Financial Reporting Standards中,删除原考纲要求:c. describe the status of global convergence of accounting standards and>f. compare key concepts of financial reporting standards under IFRS and US generally accepted accounting principles (US GAAP) reporting systems;g. identify characteristics of a coherent financial reporting framework and the barriers to creating such a framework;i. analyze company disclosures of significant accounting policies.

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中,删除原考纲要求:
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;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中,删除原考纲要求:o. explain and evaluate how leasing rather than purchasing assets affects financial statements and ratios;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中,删除原考纲要求:h. determine the initial recognition, initial measurement, and subsequent measurement of finance leases;i. compare the disclosures relating to finance and operating leases。

04 公司金融

Reading 32. Capital Budgeting中,新增考纲:f.contrast the NPV decision rule to the IRR decision rule and identify problems associated with the IRR rule。

05 固定收益投资

Reading 44. Introduction to Fixed-Income Valuation中,新增考纲:f.calculate annual yield>

06 衍生工具

Reading 48. Derivative Markets and Instruments中,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中,新增考纲:c. calculate a forward price of an asset with zero, positive, or negative net cost of carry;删除原考纲:i . explain how the value of a European option is determined at expiration。

07 投资组合

该部分整体移动到其他类投资之后:Reading 51. Portfolio Management: An Overview中,新增考纲:b.describe the steps in the portfolio management process;Reading 52. Portfolio Risk and Return: Part I中,新增考纲:b. compare the money-weighted and time-weighted rates of return and evaluate the performance of portfolios based>Reading 54. Basics of Portfolio Planning and Construction中,新增考纲:h.describe how environmental, social, and governance (ESG) considerations may be integrated into portfolio planning and construction.
因为基本新增的部分都是CFA肯定会安排的部分,所以值得我们特别注意。
前不久,上海和北京相继开了2019年度CFA资格认证授证仪式。截止2019年8月22日,中国大陆(不含港澳台)的CFA持证人数量为6078名。主要集中在北上广,累计达4759位,占比近九成。其中上海市的CFA大牛最多,简直是收割机。

虽然数字好看,但是还提醒蠢蠢欲动的各位,考证有风险,毕竟Notes、Mock题目、错题、教材加起来多到吓人,而缺乏有章法有体系的指导和有重点的冲刺技巧,你面对的就是复习越多心里越没底。

2019年12月考试已经飙到了26万人,但今年的缺考率缺考的人也是5万以上,沉没成本除了1万考试费用还有大量的时间,所以一定要提前想清楚再考,准备充足。

《金融时报》杂志也将CFA专业资格比喻成投资专才的“黄金标准”,人民日报》也多次将CFA资格推荐为含金量很高证书之一。而通过CFA考试的金融人才已经成为各大金融机构重点争夺对象,对未来职业规划帮助重大。

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