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2018年CFA®一级*新考纲变动对比分析
文章来源：中博教育
发布时间：2017-12-18 13:52
阅读：3958次
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年CFA®考试考纲新增考点：
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年CFA®考试考纲删除考点：
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®一级课程变化概况
以上图片来源于WILEY
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Crystal
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