A must-have resource for the weeks before the CFA exam - Level I
Wiley's Level I CFA Program 11th Hour Final Review Study Guide 2023 is a concise distillation of the material covered on Level I of the Chartered Financial Analyst certification exams. Rather than act as a primary study tool, the book offers an efficient and effective way to review the concepts covered by the exam.
The book covers:
- Ethical and professional standards
- Financial analysis tools, including quantitative methods, economics, and financial reporting and analysis
- Portfolio management and analysis, including corporate finance
- Assets, including equity investments, derivatives, fixed income, and alternative investments
Perfect for any prospective CFA Level I exam taker seeking to improve their confidence walking into the test, Wiley's Level I CFA Program 11th Hour Final Review Study Guide 2023 is an indispensable resource for improving your retention and understanding of core concepts licensed CFAs use every day.
Table of Contents
Foreword vii
Quantitative Methods (QM)
Learning Module 1: The Time Value of Money 3
Learning Module 2: Organizing, Visualizing, and Describing Data 5
Learning Module 3: Probability Concepts 9
Learning Module 4: Common Probability Distributions 15
Learning Module 5: Sampling and Estimation 20
Learning Module 6: Hypothesis Testing 25
Learning Module 7: Introduction to Linear Regression 31
Economics (EC)
Learning Module 1: Topics in Demand and Supply Analysis 41
Learning Module 2: The Firm and Market Structure 51
Learning Module 3: Aggregate Output, Prices, and Economic Growth 57
Learning Module 4: Understanding Business Cycles 66
Learning Module 5: Monetary and Fiscal Policy 78
Learning Module 6: Introduction to Geopolitics 86
Learning Module 7: International Trade and Capital Flows 88
Learning Module 8: Currency Exchange Rates 97
Financial Statement Analysis (FSA)
Financial Statement Analysis (Curriculum Book 2)
Learning Module 1: Introduction to Financial Statement Analysis 109
Learning Module 2: Financial Reporting Standards 111
Financial Statement Analysis (Curriculum Book 3)
Learning Module 1: Understanding Income Statements 117
Learning Module 2: Understanding Balance Sheets 123
Learning Module 3: Understanding Cash Flow Statements 126
Learning Module 4: Financial Analysis Techniques 130
Learning Module 5: Inventories 137
Learning Module 6: Long-Lived Assets 145
Learning Module 7: Income Taxes 159
Learning Module 8: Non-Current (Long-Term) Liabilities 163
Learning Module 9: Financial Reporting Quality 172
Learning Module 10: Applications of Financial Statement Analysis 178
Corporate Issuers (CI)
Corporate Issuers (Curriculum Book 3)
Learning Module 1: Corporate Structure and Ownership 183
Learning Module 2: Introduction to Corporate Governance and Other ESG Considerations 186
Learning Module 3: Business Models and Risks 190
Learning Module 4: Capital Investments 194
Learning Module 5: Working Capital and Liquidity 197
Corporate Issuers (Curriculum Book 4)
Learning Module 1: Cost of Capital - Foundational Topics 203
Learning Module 2: Capital Structure 205
Learning Module 3: Measures of Leverage 210
Equity Investments (EQ)
Learning Module 1: Market Organization and Structure 217
Learning Module 2: Security Market Indexes 227
Learning Module 3: Market Efficiency 232
Learning Module 4: Overview of Equity Securities 238
Learning Module 5: Introduction to Industry and Company Analysis 244
Learning Module 6: Equity Valuation: Concepts and Basic Tools 250
Fixed Income (FI)
Fixed Income (Curriculum Book 4)
Learning Module 1: Fixed Income Securities: Defining Elements 259
Learning Module 2: Fixed-Income Markets: Issuance, Trading, and Funding 268
Learning Module 3: Introduction to Fixed Income Valuation 275
Learning Module 4: Introduction to Asset-Backed Securities 282
Fixed Income (Curriculum Book 5)
Learning Module 1: Understanding Fixed-Income Risk and Return 293
Learning Module 2: Fundamentals of Credit Analysis 301
Derivatives (DR)
Learning Module 1: Derivative Markets and Instruments 311
Learning Module 2: Forward Commitment and Contingent Claim Features and Instruments 312
Learning Module 3: Derivative Benefits, Risks, and Issuer and Investor Uses 313
Learning Module 4: Arbitrage, Replication, and the Cost of Carry in Pricing Derivatives 314
Learning Module 5: Pricing and Valuation of Forward Contracts and for an Underlying with Varying Maturities 316
Learning Module 6: Pricing and Valuation of Futures Contracts 318
Learning Module 7: Pricing and Valuation of Interest Rates and Other Swaps 319
Learning Module 8: Pricing and Valuation of Options 321
Learning Module 9: Option Replication Using Put-Call Parity 324
Learning Module 10: Binomial Option Pricing 326
Alternative Investments (AI)
Learning Module 1: Categories, Characteristics, and Compensation Structures of Alternative Investments 331
Learning Module 2: Performance Calculation and Appraisal of Alternative Investments 333
Learning Module 3: Private Capital, Real Estate, Infrastructure, Natural Resources, and Hedge Funds 335
Portfolio Management (PM)
Portfolio Management (Curriculum Book 5)
Learning Module 1: Portfolio Management: An Overview 345
Learning Module 2: Portfolio Risk and Return: Part I 349
Learning Module 3: Portfolio Risk and Return: Part II 357
Portfolio Management (Curriculum Book 6)
Learning Module 1: Basics of Portfolio Planning and Construction 367
Learning Module 2: The Behavioral Biases of Individuals 371
Learning Module 3: Introduction to Risk Management 378
Learning Module 4: Technical Analysis 383
Learning Module 5: Fintech in Investment Management 395
Ethical and Professional Standards (ET)
Learning Module 1: Ethics and Trust in the Investment Profession 399
Learning Module 2: Code of Ethics and Standards of Professional Conduct 400
Learning Module 3: Guidance for Standards I-VII 400
Learning Module 4: Introduction to the Global Investment Performance Standards (GIPS) 403
Learning Module 5: Ethics Application 405
