2020年CFA一級(jí)科目?jī)?nèi)容有變動(dòng)了？

2020年CFA一級(jí)共有七個(gè)科目?jī)?nèi)容發(fā)生變動(dòng)，分別為：

（1）倫理道德與專(zhuān)業(yè)準(zhǔn)則（Ethical and Professional Standards）部分：

Reading 1. Ethics And Trust In The Investment Profession中：

新增考綱：c. describe professions and how they establish trust；

取消了對(duì)framework for ethical decision making的應(yīng)用（apply）要求。

（2）數(shù)量方法（Quantitative Methods）部分：

刪除整個(gè)Reading. Discounted Cash Flow Applications

Reading 7. Statistical Concepts and Market Returns中，19相比18年考綱取消了對(duì)夏普比率（Sharpe ratio）的計(jì)算和解釋要求。

Reading 11. Hypothesis Testing中，新增考綱：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 整體移動(dòng)到組合管理（Portfolio Management）部分。

（3）公司財(cái)報(bào)分析（Financial Reporting Analysis）部分：

Reading 20. Financial Reporting Standards中：

刪除4條考綱要求，分別為：

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.

取消財(cái)報(bào)準(zhǔn)則設(shè)置機(jī)構(gòu)的描述、對(duì)國(guó)際證監(jiān)會(huì)組織的角色描述、財(cái)報(bào)的目標(biāo)描述、財(cái)報(bào)的前提準(zhǔn)備等要求。

Reading 21. Understanding Income Statements 中，刪除原考綱要求：

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;

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Reading 26. Long-lived Assets 中，刪除原考綱要求：

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，刪除原考綱要求：

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，新增考綱：f contrast the NPV decision rule to the IRR decision rule and identify problems associated with the IRR rule;

（5）固定收益投資（Fixed income）部分：

Reading 44. Introduction to Fixed-Income Valuation中，新增考綱：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，新增考綱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，

新增考綱c. calculate a forward price of an asset with zero, positive, or negative net cost of carry;

刪除原考綱i . explain how the value of a European option is determined at expiration;

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（7）投資組合（Portfolio Management）部分整體移動(dòng)到其他類(lèi)投資之后：

Reading 51. Portfolio Management: An Overview中，新增考綱：b describe the steps in the portfolio management process;

Reading 52. Portfolio Risk and Return: Part I中，新增考綱：b. compare the money-weighted and time-weighted rates of return and evaluate the performance of portfolios based on these measures》》》點(diǎn)擊咨詢(xún)更多CFA相關(guān)內(nèi)容

Reading 54. Basics of Portfolio Planning and Construction中，新增考綱：h describe how environmental, social, and governance （ESG） considerations may be integrated into portfolio planning and construction.

每一個(gè)科目?jī)?nèi)容發(fā)生的變動(dòng)都是CFA考生需要著重學(xué)習(xí)的地方，2020年CFA一級(jí)科目權(quán)重未發(fā)生變化，CFA考生可結(jié)合科目權(quán)重來(lái)決定科目學(xué)習(xí)順序。

2020年CFA一級(jí)科目權(quán)重：

職業(yè)倫理道德15%、定量分析10%、經(jīng)濟(jì)學(xué)10%、財(cái)務(wù)報(bào)表分析15%、公司理財(cái)10%、投資組合管理6%、權(quán)益投資11%、固定權(quán)益投資11%、衍生品投資6%、其他投資6%.

完善下表，48小時(shí)內(nèi)查收以下CFA備考資料

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備注：（CFA備考資料包含：1、CFA職業(yè)倫理道德手冊(cè) 2、CFA專(zhuān)用詞匯表3、CFA專(zhuān)用公式表4、CFA協(xié)會(huì)歷年MOCK習(xí)題5、CFA前導(dǎo)課程6、CFA報(bào)名流程引導(dǎo)圖 7、CFA電子版資料 8、CFA百題精選題）