CFA Level 1 Notes
CFA Level 1 Notes
CFA
Pre1
P - Basics of Hypothesis Testing
P - Common Probability Distributions
P - Interest Rates, Present Value, and Future Value
P - Organizing, Visualizing, and Describing Data
P - Probability Concepts
P - Sampling and Estimation
Pre2
P - Aggregate Output, Prices, and Economic Growth
P - Currency Exchange Rates
P - International Trade and Capital Flows
P - Introduction to Business Cycles
P - Introduction to the Firm and Market Organization
P - Monetary and Fiscal Policy
P - Topics in Demand and Supply Analysis
Pre3
P - Applications of Financial Statement Analysis
P - Balance Sheets
P - Cash Flow Statements
P - Income Statements
P - Income Taxes
P - Introduction to Financial Reporting
P - Inventories
P - Long-Lived Assets
P - Non-Current (Long-Term) Liabilities
Vol1
Estimation and Inference
Hypothesis Testing
Intro to Big Data Techniques
Portfolio Maths
Probability Tree and Conditional Expectations
Rates and Returns
Simple Linear Regression
Simulation Methods
Statistical Measure of Asset Returns
Tests of Independence
Time Value of Money
Vol2
Capital Flows and FX Market
Exchange Rate Calculations
Fiscal Policy
International Trade
Intro to Geopolitics
Monetary Policy
The Firm and Market Structures
Understanding Business Cycles
Vol3
Business Models
Capital Investments and Capital Allocation
Capital Structure
Corp Gov- Conflicts, Mechanisms, Risks and Benefits
Investors and Other Stakeholders
Org Forms, Corp Issuer Features and Ownership
Working Capital and Liquidity
Vol4
Balance Sheets
Cash Flows I
Cash Flows II
Financial Analysis Techniques
Financial Reporting Quality
Income Statements
Income Taxes
Intro to Fin Statement Modeling
Intro to FSA
Inventories
Long Term Assets
Long Term Labilities and Equity
Vol5
Company Analysis - Past and Present
Equity Valuation - Basic Tools
Industry and Competitive Analysis
Market Efficiency
Market Org and Structure
Overview of Equity Securities
Security Market Indexes
Vol6
Asset-Backed Security (ABS) Instrument and Market Features
Bond Valuation - Prices and Yields
Cash Flows and Types
Credit Analysis for Corporate Issuers
Credit Analysis for Government Issuers
Credit Risk
Curve-Based and Empirical Fixed-Income Risk Measures
Fixed-Income Securitization
Instrument Features
Interest Rate Risk and Return
Issuance and Trading
Markets for Corporate Issuers
Markets for Government Issuers
Mortgage-Backed Security (MBS) Instrument and Market Features
Term Structure of Interest Rates - Spot, Par, and Forward Curves
Yield and Yield Spread Measures for Fixed-Rate Bonds
Yield and Yield Spread Measures for Floating-Rate Instruments
Yield-Based Bond Convexity and Portfolio Properties
Yield-Based Bond Duration Measures and Properties
Vol7
Arbitrage, Replication and Cost of Carry
Benefits, Risks, Uses
Forward Commitment and Contingent Claim Features
Instrument and Market Features
Option Replication using Put Call Parity
Pricing of Forward Contracts
Pricing of Futures Contracts
Pricing of Interest Rate and Other Swaps
Pricing of Options
Valuing using One Period Binomial Model
Vol8
Features, Methods and Structures
Hedge Funds
Intro to Digital Assets
Invest in Private Capital - Equity and Debt
Natural Resources
Performance and Returns
Real Estate and Infra
Vol9
Behavioral Biases of Individuals
Intro to Risk Management
Overview
Planning and Construction
Risk and Return - I
Risk and Return - II
Vol10
Code of Ethics and Standards
Ethics and Trust in Investment
Ethics Application
Guidance for Standards I-VII
Intro to Global Investment Performance Standards
Alternative Investments
Corporate Issuers
Derivatives
Economics
Equity Investments
Ethics and Professional Standards
Financial Statement Analysis
Fixed Income
Home
IFT
Portfolio Management
Pre - Economics
Pre - Financial Statement Analysis
Pre - Quantitative Methods
Pre-Reads
Quantitative Methods
Volumes
Risk and Return - II
Topics
Introduction
Capital Market Theory: Risk-Free and Risky Assets
Portfolio of Risk-Free and Risky Assets
Capital Market Theory: The Capital Market Line
Passive and Active Portfolios
What Is the “Market”?
The Capital Market Line (CML)
Capital Market Theory: CML - Leveraged Portfolios
Leveraged Portfolios with Different Lending and Borrowing Rates
Systematic and Nonsystematic Risk
Systematic Risk and Nonsystematic Risk
Return Generating Models
Return-Generating Models
Decomposition of Total Risk for a Single-Index Model
Return-Generating Models: The Market Model
Calculation and Interpretation of Beta
Estimation of Beta
Beta and Expected Return
Capital Asset Pricing Model: Assumptions and the Security Market Line
Assumptions of the CAPM
The Security Market Line
Capital Asset Pricing Model: Applications
Estimate of Expected Return
Beyond CAPM: Limitations and Extensions of CAPM
Limitations of the CAPM
Extensions to the CAPM
Portfolio Performance Appraisal Measures
The Sharpe Ratio
The Treynor Ratio
M2: Risk-Adjusted Performance (RAP)
Jensen’s Alpha
Applications of the CAPM in Portfolio Construction
Security Characteristic Line
Security Selection
Implications of the CAPM for Portfolio Construction