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1、2018年CFA考纲变动分析2018年CFA一级考纲变动分析:2018年CFA一级考纲的变动主要体现在删除上,CorporateFinance和Derivatives这两个科目各删除了一个reading;QuantitativeMethods这一科目删除了一个考点,而Equity新增了一个考点。一、2018考纲新增考点:1.Studysession14Equity:AnalysisandValuationReading49.EquityValuation:ConceptsAndBasicTools中:考点c:describeregularca
2、shdividends,extradividends,stockdividends,stocksplits,reversestocksplits,andsharerepurchases;考点d:describedividendpaymentchronology;二、2018考纲删除考点:1.StudySession3QuantitativeMethods:ApplicationReading10.CommonProbabilityDistributions中:考点h:calculateandinterprettrackingerror;2.S
3、tudySession11CorporateFinance:Leverage,DividendsandShareRepurchases,andWorkingCapitalManagementReading38.DividendsandShareRepurchases:Basics整个reading.考点内容为:Thecandidateshouldbeableto:adescriberegularcashdividends,extradividends,liquidatingdividends,stockdividends,stocksplit
4、s,andreversestocksplits,includingtheirexpectedeffectonshareholders’wealthandacompany’sfinancialratios;bdescribedividendpaymentchronology,includingthesignificanceofdeclaration,holder-of-record,ex-dividend,andpaymentdates;ccomparesharerepurchasemethods;dcalculateandcomparethe
5、effectofasharerepurchaseonearningspersharewhen1)therepurchaseisfinancedwiththecompany’sexcesscashand2)thecompanyusesdebttofinancetherepurchase;ecalculatetheeffectofasharerepurchaseonbookvaluepershare;fexplainwhyacashdividendandasharerepurchaseofthesameamountareequivalentint
6、ermsoftheeffectonshareholders’wealth,allelsebeingequal.3.StudySession17DerivativesReading59.RiskManagementApplicationsofOptionStrategies整个reading.考点内容为:Thecandidateshouldbeableto:adeterminethevalueatexpiration,theprofit,maximumprofit,maximumloss,breakevenunderlyingpriceatex
7、piration,andpayoffgraphofthestrategiesofbuyingandsellingcallsandputsanddeterminethepotentialoutcomesforinvestorsusingthesestrategies;bdeterminethevalueatexpiration,profit,maximumprofit,maximumloss,breakevenunderlyingpriceatexpiration,andpayoffgraphofacoveredcallstrategyanda
8、protectiveputstrategy,andexplaintheriskmanagementapplicationofeachstrategy.三、2017-