周教授CFA金融课程（2019年CFA一级全系列课程） 周教授CFA金融课程（2019年CFA二级全系列课程） 申请CFA二级会员免费学习、免费延期、直至通过考试。 周教授CFA金融课程：考点精讲+作答须知（2019年CFA三级全系列课程） 全球最好CFA三级课程,由美国大学金融学资深教授，博士，CFA 持证人、博士生导师 - 周教授亲自授课，中国知名大学教授、硕博团队协作出品，通过率95%以上 CFA报名详细流程图，CFA考生自己即可完成报名

 返回列表 发帖

# 2018年CFA一、二、三级最新考纲变动对比分析

 本帖最后由 RealEstate_CFA 于 2017-8-1 08:54 编辑 2018年CFA一级最新考纲变动对比分析 2018年CFA一级考纲的变动主要体现在删除上，Corporate Finance和Derivatives这两个科目各删除了一个reading，Quantitative Methods这一科目删除了一个考点，而Equity新增了一个考点。 一、2018考纲新增考点： 1.Study session 14 Equity: Analysis and Valuation Reading 49. Equity Valuation: Concepts And Basic Tools中： 考点c：describe regular cash dividends, extra dividends, stock dividends, stock splits, reverse stock splits, and share repurchases; 考点d: describe dividend payment chronology; 二、2018考纲删除考点： 1.Study Session 3 Quantitative Methods: Application Reading 10. Common Probability Distributions中： 考点h: calculate and interpret tracking error; 2.Study Session 11 Corporate Finance: Leverage, Dividends and Share Repurchases, and Working Capital Management Reading 38. Dividends and Share Repurchases: Basics整个reading. 考点内容为： The candidate should be able to: a describe regular cash dividends, extra dividends, liquidating dividends, stock dividends, stock splits, and reverse stock splits, including their expected e?ect on shareholders’ wealth and a company’s financial ratios; b describe dividend payment chronology, including the significance of declaration, holder-of-record, ex-dividend, and payment dates; c compare share repurchase methods; d calculate and compare the e?ect of a share repurchase on earnings per share when 1) the repurchase is financed with the company’s excess cash and 2) the company uses debt to finance the repurchase; e calculate the e?ect of a share repurchase on book value per share; f explain why a cash dividend and a share repurchase of the same amount are equivalent in terms of the e?ect on shareholders’ wealth, all else being equal. 3.Study Session 17 Derivatives Reading 59. Risk Management Applications of Option Strategies整个reading. 考点内容为： The candidate should be able to: a determine the value at expiration, the profit, maximum profit, maximum loss, breakeven underlying price at expiration, and payo? graph of the strategies of buying and selling calls and puts and determine the potential outcomes for investors using these strategies; b determine the value at expiration, profit, maximum profit, maximum loss, breakeven underlying price at expiration, and payo? graph of a covered call strategy and a protective put strategy, and explain the risk management application of each strategy.

 2018年CFA二级最新考纲变动对比分析 根据CFA协会最新公布的2018年CFA二级考纲，考纲发生变化的科目为4门，分别为经济学、公司金融、固定收益与衍生品。 经济学 变化集中在Reading 13 Currency Exchange Rates：Determination and Forecasting。删除3个考点（考点k、考点l和考点p），不再考察决定汇率的三大模型及使用技术分析来预测汇率的方法。新增2个点，forward rate parity远期汇率平价和政府对汇率的干预目标。 删除： 考点k ：describe the Mundell–Fleming model, the monetary approach, and the asset market (portfolio balance) approach to exchange rate determination; 考点l ：forecast the direction of the expected change in an exchange rate based on balance of payment, Mundell–Fleming, monetary, and asset market approaches to exchange rate determination; 考点p ：describe uses of technical analysis in forecasting exchange rates. 变化与新增（加粗部分为变化内容） 考点e ：explain international parity conditions (covered and uncovered interest rate parity, forward rate parity, purchasing power parity, and the international Fisher effect); 考点l：describe objectives of central bank or government intervention and capital controls and describe the effectiveness of intervention and capital controls; 公司金融 变化集中在Reading 23 Dividends and Share Repurchases: Analysis。新增4个考点（考点a，考点h，考点i和考点j，为原一级删除的内容并入二级），2个考点（考点d与考点e）表述发生变化，但无实质影响。 新增与变化 考点a：describe the expected effect of regular cash dividends, extra dividends, liquidating dividends, stock dividends, stock splits, and reverse stock splits on shareholders’ wealth and a company’s financial ratios; 考点h：compare share repurchase methods; 考点i：calculate and compare the effect of a share repurchase on earnings per share when 1) the repurchase is financed with the company’s surplus cash and 2) the company uses debt to finance the repurchase; 考点j：calculate the effect of a share repurchase on book value per share; 考点d：explain how clientele effects and agency costs may affect a company’s payout policy;（原为agency issues） 考点e：explain factors that affect dividend policy in practice;（原无in practice） 固定收益 变化在Reading 38 Credit Analysis Models，为一个考点的掌握要求降低，无实质影响。 考点b ：explain credit scoring and credit ratings; 衍生品 变化在Reading 41 Valuation of Contingent Claims，删除一个考点。 考点d：describe how interest rate options are valued using a two-period binomial model;