请问2018年二级和2017年二级有没有考试内容上的区别？求赐教~~ 二级, 大纲

guang722

如题。想了解一下2018年的考试内容的变化。谢谢。~~

cfaadmin

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;