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
