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CFA Certificate Course Outline (Level II)

Instructor:
Mr. Roy Guo, MBA, CFA, CAIA, CGA, B.G.S. Life Long Member

 

Course Outline

Study Session 1

ETHICAL AND PROFESSIONAL STANDARDS

 

1.   Code of Ethics and Standards of Professional Conduct

2.   Guidance for Standards I – VII

3.   CFA Institute Soft Dollar Standards

4.   CFA Institute Research Objectivity Standards

 

Study Session 2
ETHICAL AND PROFESSIONAL STANDARDS

 

5.   The Glenarm Company

6.   Preston Partners

7.   Super Selection

8.   Trade Allocation: Fair Dealing and Disclosure

9.   Changing Investment Objectives

10.  Prudence in Perspective

 

Study Session 3
QUANTITATIVE METHODS FOR VALUATION

 

11.  Correlation and Regression

12.  Multiple Regression and Issues in Regression Analysis

13.  Time-Series Analysis

 

Study Session 4
ECONOMICS FOR VALUATION

 

14.  Economic Growth

15.  Regulation and Antitrust Policy in a Globalized Economy

16.  Trading with the World

17.  The Exchange Rate and the Balance of Payments

18.  Currency Exchange Rates

19.  Foreign Exchange Parity Relations

20.  Measuring Economic Activity

 

Study Session 5
FINANCIAL REPORTING AND ANALYSIS:

Intercorporate Investments

 

21.  Intercorporate Investments

 

Study Session 6
FINANCIAL REPORTING AND ANALYSIS:

Post-Employment and Share-Based Compensation and Multinational Operations

 

22.  Employee Compensation: Post-Employment and Share-Based

23.  Multinational Operations

 

Study Session 7
FINANCIAL REPORTING AND ANALYSIS:

Earnings Quality Issues and Financial Ratio Analysis

 

24.  The Lessons We Learn

25.  Evaluating Financial Reporting Quality

26.  Integration of Financial Statement Analysis Techniques

 

Study Session 8
CORPORATE FINANCE

 

27.  Capital Budgeting

28.  Capital Structure and Leverage

29.  Dividends and Dividend Policy
 

Study Session 9
CORPORATE FINANCE:

Financing and Control Issues

 

30.  Corporate Governance
31.  Mergers and Acquisitions

 

Study Session 10
EQUITY VALUATION:

Valuation Concepts

 

32.  A Note on Asset Valuation
33.  Equity Valuation: Applications and Processes
34.  Equity: Markets and Instruments

35. Return Concepts

 

Study Session 11
EQUITY VALUATION:

Industry and Company Analysis in a Global Context

 

36. Equity: Concepts and Techniques

37. The Five Competitive Forces that Shape Strategy

38. Industry Analysis

39. Valuation in Emerging Markets

40. Discounted Dividend Valuation

 

Study Session 12
EQUITY INVESTMENTS:

Valuation Models

 

41. Free Cash Flow Valuation

42. Market-Based Valuation: Price and Enterprise Value Multiples

43. Residual Income Valuation

44. Private Company Valuation

 

Study Session 13
ALTERNATIVE ASSET VALUATION

 

45. Investment Analysis

46. Income Property Analysis and Appraisal

47. Private Equity Valuation

48. Investing in Commodities

49.  Evaluating the Performance of Your Hedge Funds

50.  Buyers Beware: Evaluating and Managing the Many Facets of the Risks of Hedge Funds

 

Study Session 14
FIXED INCOME:

Valuation Concepts

 

51.  General Principles of Credit Analysis

52.  The Liquidity Conundrum

53.  Term Structure and Volatility of Interest Rates

54.  Valuing Bonds with Embedded Options

 

Study Session 15
FIXED INCOME:

Structured Securities

 

55. Mortgage-Backed Sector of the Bond Market

56. Asset-Backed Sector of the Bond Market

57. Valuing Mortgage-Backed and Asset-Backed Securities

 

Study Session 16
DERIVATIVE INVESTMENTS:

Forwards and Futures

 

58. Forward Markets and Contracts

59. Futures Markets and Contracts

 

Study Session 17 

DERIVATIVE INVESTMENTS:

Options, Swaps, and Interest Rate and Credit Derivatives

 

60. Option Markets and Contracts

61. Swap Markets and Contracts

62. Interest Rate Derivative Instruments

63. Using Credit Derivatives to Enhance Return and Manage Risk

 

Study Session 18
PORTFOLIO MANAGEMENT:

Capital Market Theory and the Portfolio Management Process

 

64. Portfolio Concepts

65. A Note on Harry M. Markowitz’s “Market Efficiency: A Theoretical Distinction and So What?”

66. International Asset Pricing

67. The Theory of Active Portfolio Management

68. The Portfolio Management Process and the Investment Policy Statement

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