2020年CFA一级考纲与19年对比!收藏!

  随着2020年6月CFA报名时间的公布,随之而来当然有2020年CFA考纲!
 
  相较2019年,每个级别都有不小的调整。高顿CFA研究院专业的师资团队倾力,为你解读考纲变化,令你及时树立备考风向标,把握考试动态,不做无用功!(需查看2020年CFA二级考纲请移步:2020年CFA二级考纲与19年对比
 
  在CFA一级考纲连续多年发生较大变化后,相较于2019年,2020年CFA一级考纲整体变化幅度较小,实质改变较少但细节调整较多。
 
  首先,相较于2019年,各科目的考试比重未发生变化。
 
  其次,考纲内容上,除了经济学(Economics)、权益投资(Equity Investment)、其他类投资(Alternative Investments)无变化,其他部分细节调整较多。具体而言:
 
  1.伦理道德与专业准则(Ethical and Professional Standards)部分:
 
  ★Reading 1.Ethics And Trust In The Investment Profession中:
 
  √新增考纲:c.describe professions and how they establish trust;
 
  √取消了对framework for ethical decision making的应用(apply)要求。
 
  2.数量方法(Quantitative Methods)部分:
 
  ★删除整个Reading.Discounted Cash Flow Applications
 
  ★Reading 7.Statistical Concepts and Market Returns中,19相比18年考纲取消了对夏普比率(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。
 
  3.公司财报分析(Financial Reporting Analysis)
 
  ★Reading 20.Financial Reporting Standards中:
 
  √删除4条考纲要求,分别为:
 
  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 financial reporting 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.
 
  √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;
  4.公司金融(Corporate Finance)部分:
 
  ★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;
 
  5.固定收益投资(Fixed income)部分:
 
  ★Reading 44.Introduction to Fixed-Income Valuation中,新增考纲:f calculate annual yield on a bond for varying compounding periods in a year;
 
  6.衍生工具(Derivatives)部分:
 
  ★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;
 
  7.投资组合(Portfolio Management)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 on these measures
 
  ★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.

  相关阅读:2020年CFA二级考纲与19年对比

  2020年6月CFA考试报名时间:
 
  
 
  2020年6月CFA报名时间:
 
  第一阶段报名时间:2019年8月08日至2019年10月02日,报名费用为:700美元;
 
  第二阶段报名时间:2019年10月18日至2020年2月12日,报名费用为:1000美元;
 
  第三阶段报名时间:2020年2月13日至2020年3月11日,报名费用为:1450美元;
 
  (所有报名时间截至美国东部时间23:59)

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