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Home > Business and Economics Books > Finance and accounting > Finance and the finance industry > CFA Program Curriculum 2019 Level III Volumes 1-6 Box Set: (CFA Curriculum 2019)
CFA Program Curriculum 2019 Level III Volumes 1-6 Box Set: (CFA Curriculum 2019)

CFA Program Curriculum 2019 Level III Volumes 1-6 Box Set: (CFA Curriculum 2019)


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About the Book

Apply CFA Program concepts and skills to real-world wealth and portfolio management for the 2019 exam The same official curricula that CFA Program candidates receive with program registration is now publicly available for purchase. CFA Program Curriculum 2019 Level III, Volumes 1-6 provides complete, authoritative guidance on synthesizing the entire CFA Program Candidate Body of Knowledge (CBOK) into professional practice for the 2019 exam. This book helps you bring together the skills and concepts from Levels I and II to formulate a detailed, professional response to a variety of real-world scenarios. Coverage spans all CFA Program topics and provides a rigorous treatment of portfolio management, all organized into individual study sessions with clearly defined Learning Outcome Statements. Visual aids clarify complex concepts, and practice questions allow you to test your understanding while reinforcing major content areas. Levels I and II equipped you with foundational investment tools and complex analysis skill; now, you'll learn how to effectively synthesize that knowledge to facilitate effective portfolio management and wealth planning. This study set helps you convert your understanding into a professional body of knowledge that will benefit your clients' financial futures. Master essential portfolio management and compliance topics Synthesize your understanding into professional guidance Reinforce your grasp of complex analysis and valuation Apply ethical and professional standards in the context of real-world cases CFA Institute promotes the highest standards of ethics, education, and professional excellence among investment professionals. The CFA Program curriculum guides you through the breadth of knowledge required to uphold these standards. The three levels of the program build on each other. Level I provides foundational knowledge and teaches the use of investment tools; Level II focuses on application of concepts and analysis, particularly in the valuation of assets; and Level III builds toward synthesis across topics with an emphasis on portfolio management.

Table of Contents:
How to Use the CFA Program Curriculum vii Curriculum Development Process vii Organization of the Curriculum viii Features of the Curriculum viii Designing Your Personal Study Program ix Feedback xi Ethical and Professional Standards Study Session 1 Ethical and Professional Standards (1) 3 Reading 1 Code of Ethics and Standards of Professional Conduct 5 Preface 5 Evolution of the CFA Institute Code of Ethics and Standards of Professional Conduct 6 Standards of Practice Handbook 6 Summary of Changes in the Eleventh Edition 7 CFA Institute Professional Conduct Program 9 Adoption of the Code and Standards 10 Acknowledgments 10 Ethics and the Investment Industry 11 Why Ethics Matters 11 CFA Institute Code of Ethics and Standards of Professional Conduct 15 Preamble 15 The Code of Ethics 15 Standards of Professional Conduct 16 Reading 2 Guidance for Standards I–VII 21 Standard I: Professionalism 21 Standard I(A) Knowledge of the Law 21 Guidance 21 Recommended Procedures for Compliance 26 Application of the Standard 27 Standard I(B) Independence and Objectivity 30 Guidance 30 Recommended Procedures for Compliance 35 Application of the Standard 36 Standard I(C) Misrepresentation 43 Guidance 43 Recommended Procedures for Compliance 46 Application of the Standard 48 Standard I(D) Misconduct 53 Guidance 53 Recommended Procedures for Compliance 54 Application of the Standard 54 Standard II: Integrity of Capital Markets 56 Standard II(A) Material Nonpublic Information 56 Guidance 56 Recommended Procedures for Compliance 60 Application of the Standard 63 Standard II(B) Market Manipulation 68 Guidance 68 Application of the Standard 69 Standard III: Duties to Clients 73 Standard III(A) Loyalty, Prudence, and Care 73 Guidance 73 Recommended Procedures for Compliance 77 Application of the Standard 78 Standard III(B) Fair Dealing 82 Guidance 82 Recommended Procedures for Compliance 84 Application of the Standard 86 Standard III(C) Suitability 90 Guidance 90 Recommended Procedures for Compliance 93 Application of the Standard 94 Standard III(D) Performance Presentation 97 Guidance 97 Recommended Procedures for Compliance 98 Application of the Standard 98 Standard III(E) Preservation of Confidentiality 101 Guidance 101 Recommended Procedures for Compliance 103 Application of the Standard 103 Standard IV: Duties to Employers 105 Standard IV(A) Loyalty 105 Guidance 105 Recommended Procedures for Compliance 109 Application of the Standard 109 Standard IV(B) Additional Compensation Arrangements 116 Guidance 116 Recommended Procedures for Compliance 116 Application of the Standard 116 Standard IV(C) Responsibilities of Supervisors 118 Guidance 118 Recommended Procedures for Compliance 120 Application of the Standard 122 Standard V: Investment Analysis, Recommendations, and Actions 126 Standard V(A) Diligence and Reasonable Basis 126 Guidance 126 Recommended Procedures for Compliance 130 Application of the Standard 130 Standard V(B) Communication with Clients and Prospective Clients 137 Guidance 138 Recommended Procedures for Compliance 140 Application of the Standard 141 Standard V(C) Record Retention 146 Guidance 146 Recommended Procedures for Compliance 147 Application of the Standard 148 Standard VI: Conflicts of Interest 149 Standard VI(A) Disclosure of Conflicts 149 Guidance 149 Recommended Procedures for Compliance 152 Application of the Standard 152 Standard VI(B) Priority of Transactions 157 Guidance 157 Recommended Procedures for Compliance 158 Application of the Standard 160 Standard VI(C) Referral Fees 162 Guidance 162 Recommended Procedures for Compliance 162 Application of the Standard 162 Standard VII: Responsibilities as a CFA Institute Member or CFA Candidate 165 Standard VII(A) Conduct as Participants in CFA Institute Programs 165 Guidance 165 Application of the Standard 167 Standard VII(B) Reference to CFA Institute, the CFA Designation, and the CFA Program 170 Guidance 170 Recommended Procedures for Compliance 172 Application of the Standard 173 Practice Problems 175 Solutions 185 Study Session 2 Ethical and Professional Standards (2) 193 Reading 3 Application of the Code and Standards 195 Introduction 195 The Consultant 196 Mark Vernley 196 The Consulting Contract 197 Evaluation of the Situation 197 Pearl Investment Management (A) 200 Knowledge of the Law and Obligation to Obey 201 Responsibilities of Supervisors 202 Trading for Personal Accounts 202 Maintaining Confidential Client Information 203 Pearl Investment Management (B) 203 Responsibility of Candidates to Comply with the Code and Standards 204 Dealing with Clients 204 Errors in Client Accounts 205 Pearl Investment Management (C) 206 Proper Care and Independent Judgment 207 Use of Insider Information 208 Using the Research of Others 209 Reasonable Basis for a Research Opinion 209 Relevant Factors and Fact versus Opinion in Research Reports 209 Misrepresentation of Services and Performance Presentation 210 Practice Problems 211 Solutions 228 Reading 4 Asset Manager Code of Professional Conduct 235 Introduction 235 Adopting the Code and Claiming Compliance 237 Acknowledgement of Claim of Compliance to CFA Institute 237 General Principles of Conduct 237 Asset Manager Code of Professional Conduct 238 Loyalty to Clients 238 Investment Process and Actions 238 Trading 238 Risk Management, Compliance, and Support 239 Performance and Valuation 239 Disclosures 239 Appendix 6—Recommendations and Guidance 240 Loyalty to Clients 240 Investment Process and Actions 241 Trading 244 Risk Management, Compliance, and Support 246 Performance and Valuation 250 Disclosures 251 Practice Problems 255 Solutions 260 Portfolio Management Study Session 3 The Asset Management Industry and Professionalism 265 Reading 5 Overview of the Asset Management Industry and Portfolio Management 267 Introduction 267 The Asset Management Industry 268 Industry Overview 268 Active versus Passive Management 269 Traditional versus Alternative Asset Managers 270 Ownership Structure 271 Asset Management Clients 271 Major Investment Products 275 Asset Management Industry Trends 278 The Portfolio Management Process 281 Fundamentals of Investment Governance 283 Governance Structures 284 Articulating Investment Objectives 284 Allocation of Rights and Responsibilities 285 Investment Policy Statement 287 Asset Allocation and Rebalancing Policy 288 Reporting Framework 288 The Governance Audit 288 Summary 291 Reading 6 Professionalism in Investment Management 293 Introduction 293 Professions 294 How Professions Establish Trust 294 Professions Are Evolving 296 Professionalism in Investment Management 296 Trust in Investment Management 297 CFA Institute as an Investment Management Professional Body 298 Expectations of Investment Management Professionals 299 Challenges for Investment Management Professionals 300 Summary 301 Practice Problems 303 Solutions 304 Glossary G-1 Index I-1

About the Author :
CFA Institute is the global association of investment professionals that sets the standard for professional excellence and credentials. The organization is a champion for ethical behavior in investment markets and a respected source of knowledge in the global financial community. The end goal: to create an environment where investors’ interests come first, markets function at their best, and economies grow. CFA Institute has more than 155,000 members in 165 countries and territories, including 150,000 CFA® charterholders, and 148 member societies. For more information, visit www.cfainstitute.org.


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Product Details
  • ISBN-13: 9781119516880
  • Publisher: John Wiley & Sons Inc
  • Publisher Imprint: Standards Information Network
  • Language: English
  • Series Title: CFA Curriculum 2019
  • ISBN-10: 1119516889
  • Publisher Date: 24 Aug 2018
  • Binding: Digital (delivered electronically)
  • No of Pages: 2832


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CFA Program Curriculum 2019 Level III Volumes 1-6 Box Set: (CFA Curriculum 2019)
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